Pricing strategy tips

Discussion in 'The Lounge' started by twinflight, May 3, 2018.

  1. #1 Posted May 3, 2018

    Finally riding a big boys bike

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    Last week I sold a Schwinn Varsity at full asking price. When I first posted the ad i thought that maybe I was being a little greedy—my wife sure did. I thought I might get a few tire kickers.

    It was a shock when I received well over 20 serious inquires within the first few days. I debated deleting the ad and then adding another $50-100. I didn’t want to risk alienating those already interested. The other problem is i had posted the ad on multiple websites so it was likely some would remember the previous ad price.

    Any thoughts? I know, it’s a good problem to have. I frequently lower my price but I’ve never had to raise it.


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  2. #2 Posted May 3, 2018

    I'm the Wiz, and nobody beats me!

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    A good seller goes through with the sale.To delete the ad and raise the price is your choice but thats something you should have thought about when first listing.You can always lower the price but I dont have any use for sellers that raise a price because there is interest.
     
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  3. #3 Posted May 3, 2018

    Cruisin' on my Bluebird

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    What he said ^
     
  4. #4 Posted May 3, 2018

    Finally riding a big boys bike

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    Good points. It was a good learning experience. I underestimated the market and my product.


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  5. #5 Posted May 3, 2018

    Riding a '38 Autocycle Deluxe

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    The market for these models is a hit and miss situation in my experience. Timing along with having a nice example is the winning combination, along with being in the right location. Where I live most all of the older 10 speeds seem to be a hard sell. There was a nice 73 Super Sport for sale on Craigs for over 2 years and the price was very reasonable. Maybe it was the Opaque Blue that wasn't appealing to any buyer. :eek:
     
  6. #6 Posted May 4, 2018

    Riding a '38 Autocycle Deluxe

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    On a positive note. It’s good that you recognized it as a learning experience.
    It's to your advantage to have a good reputation as a seller.
    Otherwise, as Vince pointed out, not many will have anything to do with you.
     
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  7. #7 Posted May 4, 2018

    Cruisin' on my Bluebird

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    You got rid of a bike you didn't want. You got a price you wanted. Sounds like you did well.
     
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  8. #8 Posted May 4, 2018

    I'm the Wiz, and nobody beats me!

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    by asking us it is clear that you are not too far gone (down the road to ruin). You thought it was a fair price plus some. be grateful for the interest and just sell it. You will impress many more folks by being true to your deal. People knowing you are a stand-up guy is worth way more than an extra $$$.
     
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  9. #9 Posted May 4, 2018

    Riding a '38 Autocycle Deluxe

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    I said the same thing but you put it better! :D
     
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  10. #10 Posted May 4, 2018

    I'm the Wiz, and nobody beats me!

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    You put it better. You used less words than Brian.
     
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  11. #11 Posted May 4, 2018

    Riding a '38 Autocycle Deluxe

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    You're so right!

    “Less is best”


    Thank you Boris.
     
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  12. #12 Posted May 6, 2018

    Cruisin' on my Bluebird

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    Here's what I would do. You can pick up Varsitys or other similar ten speed bikes for cheap if you look around. They are obviously a hot item where you live, to have gotten so much interest. Look around and find some more cheap ones that don't need a lot of work. Buy them and get them rideable. List them on craigslist for $20 - $40 more than the first one. But a good rule of thumb is to see what others in your area are asking for similar bikes and price yours slightly less than the competition. When you sell one, reinvest and buy more.
     
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  13. #13 Posted May 6, 2018

    Finally riding a big boys bike

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    Very true. However, I got mine from a LBS for $20. All the stuff online is around $60-100 so the margin is much less. The good news is very few of the competition has taken the time to clean up their bike like I have. There are a few around $50 that I have my eye on. I just need to learn how to do the tuneup and cleanup process quicker and more efficiently.



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  14. #14 Posted May 6, 2018

    Finally riding a big boys bike

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    Literally this just happened to me. I was looking at what I thought may be a Jaguar. Mid chat the lady ups her price by $150. She’s says she talked to a friend that gave her more info on the bike she was selling. SMH!!


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  15. #15 Posted May 6, 2018

    Riding a '38 Autocycle Deluxe

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    Seems it never fails. I've picked up a few very original clean lightweights off Craigs but they sat for some time or weeks with no interest. That was my advantage and the sellers dropped their prices since there was no interest. Here's one of them after it was torn down and cleaned up. It's an earlier harder to find model that was 99% original and in superb condition.

    1961 Continental Tourist 003 (Large).jpg
     
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  16. #16 Posted May 6, 2018

    Finally riding a big boys bike

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    Are the fenders supposed to be that short?


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  17. #17 Posted May 6, 2018

    Riding a '38 Autocycle Deluxe

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    Those are the parts that were not factory issued on the bike. It came from the factory with full plastic fenders. I got this bike from the original owners Grandson and it was originally purchased in Phoenix. The condition of the bike indicated the original fenders were most likely swapped out at the time it was purchased, no need for (plastic) mud guards on a lightweight around here.
     
  18. #18 Posted Jun 13, 2018

    Wore out three sets of tires already!

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    no money, no conversation, no deal. I have no problem annoying random people I have never met or spoken to about the price of something I'm selling. I'd raise the price and not give it another thought. If someone were to complain I'd just tell them they should have come and got it before I raised the price. I would explain the process of snoozing and losing to them so they don't sit and wait when a good price comes along next time.
     
  19. #19 Posted Jun 13, 2018

    Wore out three sets of tires already!

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    Not sure if you misread the scenario or if your word truly means nothing.
     
  20. #20 Posted Jun 13, 2018

    Wore out three sets of tires already!

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    fully understood the scenario. I know about selling, I know about people who talk and then have no follow up. I know about "interested buyers" with no money. I know about buyers who show up and offer pennies on the dollar for what you are selling then insult your item. none of these types have my "word" on anything. just random people I don't know.

    my word is golden when I give it. you can take it to the freakin bank. maybe I missed the part where he gave his word on something.

    I buy the same way I sell, first come first served, cash and carry.
     
    #20 49autocycledeluxe, Jun 13, 2018
    Last edited: Jun 13, 2018
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