Motorcycle guys what should I tell my Neighbor about selling his 2003 Glide

[nater1]

Neighbor lost his Job at GM back in February do the plant closing. Now he has everything up for sale because they are flat broke, barely making the house payment, and getting food from the food pantry because they maxed themselves out living high on the hog while looking down on conservative like me.

He came over today after having his 2003 Harley Electra Glide setting in the driveway non stop sense Late April. It is a nice bike has 5,000 mile on it but is asking $17,000 for it. He was complaining that he has had no one even stop to look at it. He told me he went to the local Harley Dealer asking if he could sell it back to them, and they told him they would consider giving him $8,000.

Being a nice guy that I am I just shook my head, and said dam people. Should I be honest, and tell him if he wants to sell it that the price has to drop, and you can not be asking new price for a used bike in a flooded market. I know because he told me before when he was happy go lucky collecting a GM check he was lucky back in 03 to get that bike even though he paid $24,000 for a MSRP $18,000 bike because there were none to be found.

 

[jodeg1945]

Well, I'd say if he needs the money, he should lower the price until it sells.

We finally sold my Piaggio MP3 scooter (my bike before the Spyder) on Craig's List, but did have to drop the price a bit.

We also sold my Tow-Pak mini-trike kit on eBay, but also took a hit on the price.

At least they're sold -- the right buyer will come along IF the price is right! He needs to try selling it more than just putting it in the driveway -- we tried that at first too. Lots of questions, NO buyers.

SOMEHOW, you need to give him a "gentle" wake-up call -- good luck!!

 

[bone crusher]

It's his business...let him come to his own decisions...if he really wants to sell it, sooner or later he'll get the drift that the price is too high...he's likely in la-la land, thinking he'll get a lot for it...

 

[WackyDan]

The question is... after all is said and done... will he and his family learn a lesson at all?

 

[NancysToy]

It is a shame when you are so close to people in bad straights. It is even harder to see them like this when you know they dug their own hole. I commend you for your mild and supportive approach, even if you felt there was more to say. I agree with everything said here. First, the price is obviously too high. Second, he was just whining and crying on your shoulder. I agree with Bonecrusher that he will find out eventually. Offer the advice only if he asks for it.

If that happens, I would send him to the book values first, not what some Harley dealer may hope to get on the sales floor in a booming economy. The NADA values are as good a place to start as any. I wouldn't make myself out as knowing prices in any way, lest it bite you on the backside later. A gentle reminder that if he is strapped for cash he may have to take a loss to sell quickly might not hurt, either, but a lot depends on what he owes on the cycle.

Ticklish situation to be in. Hope it all works out.
-Scotty

 

[Dragonrider]

The problem with most Hardley owners is they assume their Hardley is worth more than a Honda of the same vintage- adjusting for the purchase price.

Go on-line & look at KBB.com or NIDA, to find the real value of the bike - the current value of a 2003 Electra Glide w/5K on the clock is $8,500 - so if he can get $10 to $11, he should be happy.

Spyders sell for $15 to $18 new, but after 12 mos, the KBB value is $10K, and some are selling for $8 on E-bay.

 

[Brevet05]

The problem with most Hardley owners is they assume their Hardley is worth more than a Honda of the same vintage- adjusting for the purchase price.

Go on-line & look at KBB.com or NIDA, to find the real value of the bike - the current value of a 2003 Electra Glide w/5K on the clock is $8,500 - so if he can get $10 to $11, he should be happy.

Spyders sell for $15 to $18 new, but after 12 mos, the KBB value is $10K, and some are selling for $8 on E-bay.

Not to highjack the topic, as I agree with the points that've been raised, but I tracked Spyders on eBay for the months of April-June, and the lowest that one sold for in that time was a touch over 11K, absent one crashed one that was sold for parts. Did I just wait too long and they were selling for a lot less this past winter?

 

[WackyDan]

The problem with most Hardley owners is they assume their Hardley is worth more than a Honda of the same vintage- adjusting for the purchase price.

Go on-line & look at KBB.com or NIDA, to find the real value of the bike - the current value of a 2003 Electra Glide w/5K on the clock is $8,500 - so if he can get $10 to $11, he should be happy.

Spyders sell for $15 to $18 new, but after 12 mos, the KBB value is $10K, and some are selling for $8 on E-bay.

It is the same problem with most Spyder riders too. I chased multiple used spyders. Each time it was an 08 and they wanted 15k with no mods, mileage on the spyder and 1 year left on warranty.

I found a lady locally that had an 08 with 150 miles since she took delivery in may 08... she wouldn't back down on price citing the wait they had to get it and the fact it had 150 miles on it. I explained politely that I could buy a dealer demo with 400 to 800 miles on it for 13500 with the full 2 year warranty....

I think the used spyder prices are coming in line finally, but at the time I was better off buying new.

 

[drogers]

Not to highjack the topic, as I agree with the points that've been raised, but I tracked Spyders on eBay for the months of April-June, and the lowest that one sold for in that time was a touch over 11K, absent one crashed one that was sold for parts. Did I just wait too long and they were selling for a lot less this past winter?

Sorry for the continued hijack, but I'm finding the same thing right now - 08s with 2-3k miles on them are going in the 12s on ebay, and are almost unpossible to find on CL for less than 15. If I found a spyder for $8k I'd be an owner tomorrow...

 

[bone crusher]

Sorry for the continued hijack, but I'm finding the same thing right now - 08s with 2-3k miles on them are going in the 12s on ebay, and are almost unpossible to find on CL for less than 15. If I found a spyder for $8k I'd be an owner tomorrow...

:agree:

I've never seen a Sypder go for 8k...if the person who said that could send the auction link, that'd be nice...short of that, 8k is fiction...

As far as 'bluebook' value, it means nothing in reality. Sure, if you destroy your bike and the insurance company is determining what to give you, you'd be in big trouble if you paid 18k and they only want to give you 10k. The problem is that the bike CANNOT be replaced for 10k...several here have had instances where their bikes had to be replaced...they all got as much or more than what they had paid for their bike originally.

Nobody sells their bike or car according to Bluebook...in fact, there are a few true bluebook values...dealerships like to use it to help rip people off with trade-ins...oh yeah, that's one of the values...if you decide to sell on your own, there is another blue book value...those numbers are there for an idea of a starting price....bottom line is that if someone wants your vehicle, they will have to pay the price you want, or you'll just keep the thing...you can always change the price later...

If a vehicle is iconic, or demands a premium, the owner will their money, regardless of the bluebook. If your car is one of millions of like vehicles for sale, you will probably only get bluebook...demand rules and there is still demand for these vehicles to keep the prices up...

 

[Smylinacha]

It's his business...let him come to his own decisions...if he really wants to sell it, sooner or later he'll get the drift that the price is too high...he's likely in la-la land, thinking he'll get a lot for it...

:agree::agree::agree:

 

[Smylinacha]

Neighbor lost his Job at GM back in February do the plant closing. Now he has everything up for sale because they are flat broke, barely making the house payment, and getting food from the food pantry because they maxed themselves out living high on the hog while looking down on conservative like me.

He came over today after having his 2003 Harley Electra Glide setting in the driveway non stop sense Late April. It is a nice bike has 5,000 mile on it but is asking $17,000 for it. He was complaining that he has had no one even stop to look at it. He told me he went to the local Harley Dealer asking if he could sell it back to them, and they told him they would consider giving him $8,000.

Being a nice guy that I am I just shook my head, and said dam people. Should I be honest, and tell him if he wants to sell it that the price has to drop, and you can not be asking new price for a used bike in a flooded market. I know because he told me before when he was happy go lucky collecting a GM check he was lucky back in 03 to get that bike even though he paid $24,000 for a MSRP $18,000 bike because there were none to be found.

17K for an '03? :roflblack: It doesn't have a sixth gear like the new ones do and he'd have to have had some MAJOR performance mods done to even get close to 10K. Doesn't matter how much chrome is on it - that doesn't raise the price. Also the dealers aren't gonna give him anything for it because that is what dealers do - most of them. He's better off selling it on his own.

You can buy a new Glide for that price (unless it's a Screamin Eagle - then it's 32K - cha ching - stupid, rediculous price for yeah a bigger motor but they are so damn busy looking - way too much chrome in my opinion).

 

[Dragonrider]

OK, $8,100 for the first and $10K for the second.

Here's one: http://cgi.ebay.com/ebaymotors/Can-...0350654201QQptZUSQ5fmotorcycles#ht_500wt_1123

Here's another: http://cgi.ebay.com/ebaymotors/Can-...0437790831QQptZUSQ5fmotorcycles#ht_500wt_1123

Keep in mind that shipping could add $700 or more, and buying on line is a huge risk, in my opinion. I bought my 2009 in the crate, with some extras, for $15,150 - a fair price.

 

[Dragonrider]

NEW Phantom

There's a new 2009 Phantom on E-bay for $17K (after rebate) - a real steal.

http://cgi.ebay.com/ebaymotors/Can-...0418535218QQptZUSQ5fmotorcycles#ht_6528wt_955

 

[Brevet05]

OK, $8,100 for the first and $10K for the second.

Here's one: http://cgi.ebay.com/ebaymotors/Can-...0350654201QQptZUSQ5fmotorcycles#ht_500wt_1123

Here's another: http://cgi.ebay.com/ebaymotors/Can-...0437790831QQptZUSQ5fmotorcycles#ht_500wt_1123

Keep in mind that shipping could add $700 or more, and buying on line is a huge risk, in my opinion. I bought my 2009 in the crate, with some extras, for $15,150 - a fair price.

:lecturef_smilie:Not so fast. You'll note on both of those auctions that not are those starting prices, but neither of those met the reserve. Mind you, the first can be had for $11,995 with buy it now, but the purple one has been re-listed a number of times. The highest I've seen offered for it was 13,500, which was still not enough to meet the reserve price. The only important price is the selling price (plus shipping, any fees, etc). In any case, just like with any major purpose, it pays to do your research. Which you apparently did, as $15,150 out the door is better than fair. I paid 13,002 for my 2008 SM5, including TTL, delivered to my door, and have steadily been adding good stuff. In any case, enjoy your ryde!