What price for an old bike?

This morning as I was heading out for the day, a man about my age and very well dressed for professional work, called out to me and came running up the footpath, asking me where I got my bike from. I told him my parents gave it to me for my tenth birthday. He said his wife wanted one just like it and could I tell him where he could get one just like it. Well, old loopframes are quite rare around here, and if you can find them they usually need a lot of work.

I told him I had gotten new wheels and the gears and brakes that came with that were the reason for that upgrade, though my bike had been perfectly fine as a single speed. I also mentioned that he could possibly get an old bike like mine from the Newcastle Bike Ecology Centre, (listed on my blog roll to the right), if he was really lucky but it would probably need work on it. I also told him that Maurice Mathe, just down the road, is also selling new bikes that are similar to mine, and at a good price. He said his wife did not want gears and that was why she did not want to get a new bike, I am assuming it is derailleur gears they did not want as I cannot understand why anyone would be frightened off by an internally geared 3-speed bike. I told him that not all new bikes necessarily have gears which surprised him. He asked me if I wanted to sell him my bike, to which my answer was of course, “No”…

While we did not  get around to discussing price, and this whole conversation took place in about 3 minutes, it did get me thinking about what my bike might be worth. I have spent more on it than many new bikes would cost Рaround $700 Рmostly for the wheelset and Shimano gears/brakes. I have also done quite a bit of work on it myself and the bulk of the bike was free! I cannot see anyone wanting to spend that sort of money on a very old second hand bike when they can get a new one for the same or much less, so I think that if I had put a figure on the bike for him, he would have stopped dead in his tracks.

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7 Responses to What price for an old bike?

  1. Julian V. says:

    Well it’s quite the beautiful bike!

    Just a quick question about the Shimano Nexus hub you have. I was looking at upgrading my single speed to a more practical 3 speed coaster, I was wondering how much did that single rear wheel build cost you?

    I have been shopping around and I have been wondering how much it could cost me. Thanks!

    • Vicki says:

      The whole wheel set installed cost just under $400, I am not sure what the rear wheel alone would cost. I found it quite difficult to find a bike shop that would do this work for me and I had trouble with the 3 speed hub at first and the rear wheel was ultimately replaced under warranty.

  2. Yea, I buy/sell/trade quite a few older bikes throughout the year most people are surprised to hear how little anyone is willing to pay for something that was the quintessential piece of equipment back in the xx’s.

    Take a PX-10 Peugeot, if you are actively searching for one you will be ecstatic to find one, but the refurb costs will Always out weight what people will pay for it in the end. I am frequently left flipping really nice models that are not redone to fund my dream ride projects.

    • Vicki says:

      I do not aim to sell my bikes, especially not this one. It is too special to me as well as being a dream ride for what I need. My daughter is doing up a Peugeot so will see how that turns out compared to the cost and work put into it, but the purpose for her is to have a bike for herself rather than to sell.

  3. Wayne Martin says:

    It’s not always a question of price but a labour of love, you build a bike the way you want it and to ride it for pleasure not to a budget to sell it.

    • Vicki says:

      That is for sure Wayne, and the fact that I had this bike as a child/teenager, and I love the way it rides, means it will never be for sale.

  4. Raquel says:

    Papillionaire Bicycles sell them! I have one, a red one like yours and I love it!

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