I could use some advice - BMW Luxury Touring Community
View Poll Results: Price to high
To High 9 37.50%
About Right 15 62.50%
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post #1 of 11 Old Jul 17th, 2009, 12:20 pm Thread Starter
 
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I could use some advice

I placed an ad in the classified for my 2002 K1200LT for $7500.00. I looked around and it seemed like a good asking price. However, I have not got one inquiry. So...I don't know if I should drop the price or does it take a really long time to sell one of these bikes? Also, I placed the ad but find there is no way to change any of the parameters i.e. price or description.

Anyway, I must admit I'm discouraged since I can't figure if I'm being unrealistic regarding my asking price or selling just takes a long time.

Thanks,
Vernon

You can edit the ad by clicking on the bottom left icon below the ad. If you move your mouse on the icons you will see one that says edit.
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post #2 of 11 Old Jul 17th, 2009, 12:48 pm
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Re: I could use some advice

I'd been in a discussion with a forum member on price and it didn't seem to me to go over very well. What it came down to (for me) was it's worth what it actually sold for. Now, you never know that going into a sale. Sometimes putting OBO gets you closer to selling for what you want to get out of it.
To be completely honest when I first saw the add my thought was 3 yrs ago I picked up my '99 for $1000 less. I do understand that condition, farkles and maintenance records can move that price one way or the other.
Also, the only thing cheap on a BMW is the rider.

Just my $0.02,
Jer

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post #3 of 11 Old Jul 17th, 2009, 1:06 pm
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Re: I could use some advice

For a standard and limited farkles I would say to high. I got a 2000 Custom with 4-5 grand of farkles for 6500. Yes it had 58000 miles on it but it had a lot of the stuff like ohlins and so on it. It had been well maintained and I didn't have to add anything other then MOPs to it. But there is a buyer for everything and it isn't a bad price. Try the local craigs list as well and make sure you really talk up the bike in your ad.

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post #4 of 11 Old Jul 17th, 2009, 1:33 pm
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Re: I could use some advice

I think your price is good but the market right now is very weak along with the economy. I would definitely advertise locally on craigs list. Lowering the price will attract some interest but anyone who knows anything about these machines will pay close to your price. Especially with the low mileage and maintenance records.
My 2 cents!
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post #5 of 11 Old Jul 17th, 2009, 3:02 pm
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Re: I could use some advice

The market is toast in most areas of the US, and our bikes are priced at levels that require many to finance - Today, those that can find (and qualify for) financing, buy new - if they buy at all.

Add to that the number of dealers failing, and the problem becomes clear.

Unless you want to give it away, plan on hanging on to it until next summer..

My $0.02
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post #6 of 11 Old Jul 17th, 2009, 4:15 pm
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Re: I could use some advice

Your price actually might be a thousand too low...
In the right market.
Unfortunately finding someone with 7.5 grand to spend on anything is tough right now.

Keep at it. Put it in craigslist. that's where mine sold.

JOhn

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post #7 of 11 Old Jul 17th, 2009, 5:04 pm
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Re: I could use some advice

VernRuth
I just went to NADA to get a price for your bike. 2002 K1200LT with ABS, stereo, and cruise control-low retail was $5,425 and average retail $6,706. Most of us use NADA for pricing because Kelly Blue book is geared towards the dealer and the value is always higher. With that said you appear to be at least $700 on the high side from the average retail price. Anyone looking for your type of bike has a good idea what the value is based on mileage, condition, etc. My advice is to remove any farkles you can and sell them separately. They are worth way more off the bike that on the bike. That way you can lower the price so you are "in the game". A friend once told me "you can price it to sell or you can price it to keep". Good luck with your sale.

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post #8 of 11 Old Jul 18th, 2009, 8:38 pm Thread Starter
 
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Re: I could use some advice

Thanks. It looks like I will lower the price to $6750.00 although I must admit I feel like I'm giving it away.
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post #9 of 11 Old Jul 18th, 2009, 9:21 pm Thread Starter
 
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Re: I could use some advice

I was looking at my ad on this site but I couldn't figure out how to change the price. Anyone know how to edit a classified ad on this site?

Thanks,
Vernon
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post #10 of 11 Old Jul 18th, 2009, 10:16 pm
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Re: I could use some advice

Quote:
Originally Posted by VernRuth
I was looking at my ad on this site but I couldn't figure out how to change the price. Anyone know how to edit a classified ad on this site?

Thanks,
Vernon
On your ad page in the classifieds, centered down below your avatar, there should be 5 or 6 icons displayed. Place your cursor on each one until it reads 'edit'. Click that icon and you should be able to perform the edit. Good luck.
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post #11 of 11 Old Jul 18th, 2009, 11:29 pm
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Re: I could use some advice

Quote:
Originally Posted by keith1
VernRuth
I just went to NADA to get a price for your bike. 2002 K1200LT with ABS, stereo, and cruise control-low retail was $5,425 and average retail $6,706. Most of us use NADA for pricing because Kelly Blue book is geared towards the dealer and the value is always higher.
Where did you find that? Earliest year I could go was 2004...

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