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post #1 of 36 Old Mar 30th, 2010, 4:00 pm Thread Starter
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LT's poor re-sale value?

So I've been trying to sell my 2003 lt for 8months now - KBB value say 8700 I'm at 6999
how much more of a hit do I need to take to get rid of it? Would have though the BMW flagship would hold some value - guess I was wrong. Your thoughts?
Bike pics and specs can be seen here -
http://phoenix.craigslist.org/evl/mcy/1666915771.html

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post #2 of 36 Old Mar 30th, 2010, 4:10 pm
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Re: LT's poor re-sale value?

We are in tough times......I know many friends who have been unemployed for a year or two.
Recession = is when your friend is unemployed.
Depression = is when you are unemployed.

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post #3 of 36 Old Mar 30th, 2010, 4:19 pm
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Re: LT's poor re-sale value?

I have been flamed for this here before, but your ad needs some help. First add words like motorcycle, bike, touring, etc. I would also add search term like Gold Wing, Concourse, Ultra Classic and other similar bikes. Simply make a list of relevant search words and put them in parentheses at the bottom of the listing. Donít worry about what the other posters will scream about how unethical this is. You want to maximize your ad's exposure and be on a level playing field.

As for resale value, I have stated before, I have never owned anything with the exception of a pair of shoes that has devalued so much so fast. I think you should be able to get your asking price and more if you change the ad a little and find other places for it such as ebay. Stay away from Cycle Trader, the site is horrible and the staff are all idiots.
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post #4 of 36 Old Mar 30th, 2010, 4:21 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by TBob
So I've been trying to sell my 2003 lt for 8months now - KBB value say 8700 I'm at 6999
how much more of a hit do I need to take to get rid of it? Would have though the BMW flagship would hold some value - guess I was wrong. Your thoughts?
Bike pics and specs can be seen here -
http://phoenix.craigslist.org/evl/mcy/1666915771.html
Nice bike, very good price, especially with the extended warranty. Probably the least desirable color but it should sell for 7k for sure.

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post #5 of 36 Old Mar 30th, 2010, 4:56 pm Thread Starter
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Re: LT's poor re-sale value?

Thanks - yea that's what I keep thinking, it must be the color.
Guy called me from northern Nevada and sounds like he wants to buy it - I'll keep my fingers X

Quote:
Originally Posted by Ted Shred
Nice bike, very good price, especially with the extended warranty. Probably the least desirable color but it should sell for 7k for sure.

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post #6 of 36 Old Mar 30th, 2010, 5:26 pm
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Re: LT's poor re-sale value?

KBB prices are overinflated.

NADA guide is closer to what you can expect. It shows 03 LT-C at 7065 avg retail. You're not taking a "hit" yet at your asking price.

Good luck with the sale.

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post #7 of 36 Old Mar 30th, 2010, 5:33 pm
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Re: LT's poor re-sale value?

If you take the Amsoil reference out, it will sell in a heartbeat. *
Good luck, it will sell as we get into spring.

* This is an inside joke: Depending how long you have hung around here, you will get it or not.

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post #8 of 36 Old Mar 30th, 2010, 5:33 pm
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Re: LT's poor re-sale value?

Currently it is a buyer's market. Now is the time to buy a used Porsche for the same reason you are buying an LT: luxury vehicles.
If you are selling, you are taking a hit; this is similar to the stock market.

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post #9 of 36 Old Mar 30th, 2010, 6:56 pm
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Re: LT's poor re-sale value?

I just bought an '03 LT, same color, 88k miles, in showroom condition, from a BMW dealer, with all the bells & whistles (I guess so anyway GPS, CB, etc).

I paid almost a grand less OTD (w/ tax & tag) than what you're asking. I'm in a different part of the country & my bike has 30k more miles so I'd guess you're pretty close to a reasonable price. Esp if you're like most sellers & willing to negotiate a few $.

Around here, this is the beginning of the riding season & bikes are starting to move from both dealers & private individuals. This is the time to sell. My old bike sold in less than 12 hrs on craigslist a couple weeks ago.

I also agree it's totally a buyer's market for any type luxury vehicles right now. Just picked up a Mercedes Benz E350 this weekend for a steal. This was from a M-B dealer & I got a better deal than I could have from a private individual.

You gotta think there's lots of people out there who could barely afford this stuff to begin with that have faced income loss or reduction over the past couple years. Expensive or indulgent things are first to go. You're competing with the guy with a similar bike who has to sell it to make next month's mortgage or put dinner on the table - he doesn't care as much about getting what's fair - he just has to get it sold.

So really, you decide "at anything less than $X, I'd rather just keep it", & just hope for the best.

Cycle Trader around here is popular. Lots of dealers & individuals use it. I found my bikes that way but didn't consider using them to sell since the ads start around $50. Maybe you're at the point where you need to expand beyond craigslist though - after 8 months it might be worth the fee to try Cycle Trader or eBay?
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post #10 of 36 Old Mar 31st, 2010, 12:31 am
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Re: LT's poor re-sale value?

Keep your chin up dude--spring is arriving after a hard winter...the old bug will be biting real hard soon!

Wade
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post #11 of 36 Old Mar 31st, 2010, 7:13 am
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Re: LT's poor re-sale value?

I think some of the devaluation problem is the bad rap the LT has gotten in the press for high maintenance costs and final drive failures. True the economy is in the tank right, but I've been looking at ads for Wings and they aren't taking nearly the hit the BMW's are. And it seems to be every BMW taking the hit, not just the LT.

BTW, if you were a tad closer, I'd jump on that bike for $7K.


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post #12 of 36 Old Mar 31st, 2010, 9:04 am
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Re: LT's poor re-sale value?

+1 about the advert, try ebay LOTS of picures, BIG description, make it easy for people to buy and they will, keep on about all the goodies the LT has as standard.
Best of luck

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post #13 of 36 Old Mar 31st, 2010, 9:59 am
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Re: LT's poor re-sale value?

Pheonix got hit hard with the economy. Regardless the resale value of the LT stinks. Unless you are going to keep it for a long time, it's not worth buying new.

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post #14 of 36 Old Mar 31st, 2010, 11:23 am
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Re: LT's poor re-sale value?

Quote:
Originally Posted by Wolfgang
If you take the Amsoil reference out, it will sell in a heartbeat. *
Good luck, it will sell as we get into spring.

* This is an inside joke: Depending how long you have hung around here, you will get it or not.
Boy, you've got guts!

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post #15 of 36 Old Mar 31st, 2010, 12:56 pm
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Red face Re: LT's poor re-sale value?

Hey, I'll give you bad resale value. A friend was telling me about his Mercedes wagon. Almost 500 hp, 6? built and was a $100k auto 2 years ago. He bought it for $30k. $70k loss in 2 years.
That's bad!!

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post #16 of 36 Old Mar 31st, 2010, 1:47 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by dwsdad
I think some of the devaluation problem is the bad rap the LT has gotten in the press for high maintenance costs and final drive failures. True the economy is in the tank right, but I've been looking at ads for Wings and they aren't taking nearly the hit the BMW's are. And it seems to be every BMW taking the hit, not just the LT.

BTW, if you were a tad closer, I'd jump on that bike for $7K.
There are still people that you meet who say "I didn't know that BMW makes motorcycles". Maybe that and lack of dealer exposure has something to do with it.

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post #17 of 36 Old Mar 31st, 2010, 2:40 pm
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Re: LT's poor re-sale value?

I once saw a list of the things that depreciate the fastest after purchase. I believe the BMW motorcycles were listed in fourth place behind diamond rings, computers, and toilet plungers....in that order.

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post #18 of 36 Old Mar 31st, 2010, 2:50 pm
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Re: LT's poor re-sale value?

I have seen prices topple in the last two years. Indicative of the times we live in--many people have put purchasing a bike on the back burner.
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post #19 of 36 Old Mar 31st, 2010, 3:09 pm
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Re: LT's poor re-sale value?

I've had good luck with Craigslist for small items, but I've found it's a magnet for scams when trying to sell vehicles. Do you have it advertised anywhere else? If not...and if this Nevada lead doesn't pan out, you might consider eBay and/or CycleTrader.com. I mean no disrespect, but Craigslist is not the first place I'd look if I were in the market for touring bike. Best of luck

P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).

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post #20 of 36 Old Mar 31st, 2010, 3:14 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by Toolman
I've had good luck with Craigslist for small items, but I've found it's a magnet for scams when trying to sell vehicles. Do you have it advertised anywhere else? If not...and if this Nevada lead doesn't pan out, you might consider eBay and/or CycleTrader.com. I mean no disrespect, but Craigslist is not the first place I'd look if I were in the market for touring bike. Best of luck

P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).

I've sold items on CL from $20 bucks up to $30k boats and trucks. It's simple and easy if you know what you're doing.

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post #21 of 36 Old Mar 31st, 2010, 8:19 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by Toolman
I've had good luck with Craigslist for small items, but I've found it's a magnet for scams when trying to sell vehicles. Do you have it advertised anywhere else? If not...and if this Nevada lead doesn't pan out, you might consider eBay and/or CycleTrader.com. I mean no disrespect, but Craigslist is not the first place I'd look if I were in the market for touring bike. Best of luck

P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).
I sold two bikes on Craigslist and bought my LT from there too. I never have had any luck with Cycletrader but I know many do.

To the OP: You still do not have the word "Motorcycle" any where in your ad.
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post #22 of 36 Old Mar 31st, 2010, 9:34 pm
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Re: LT's poor re-sale value?

This is a perfect example of perspective! I would think that your Mercedes wagon driving friend would think a $70,000 loss over 2 years to be good! Very very good!

I have never found that "new car smell" to be so intoxicating that I would be willing to take the depreciation hit. I have purchased one brand new car in my life at age 19.. A small Ford Courier pickup. Drove it nearly 200,000 miles and sold it to buy a 4 door car when our (now 27 year old) son was born.

Same with my LT. Bought low mileage and old for about 1/3 the price of a new one! Plan is to keep it until the wheels fall off.

Quote:
Originally Posted by bblalock
Hey, I'll give you bad resale value. A friend was telling me about his Mercedes wagon. Almost 500 hp, 6? built and was a $100k auto 2 years ago. He bought it for $30k. $70k loss in 2 years.

Loren
That's bad!!

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post #23 of 36 Old Apr 1st, 2010, 8:35 am
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Re: LT's poor re-sale value?

Quote:
Originally Posted by Toolman
P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).
.. and how about trying to sell a bike with a "palamino" seat? I think it's time to get my pedicure...

Have fun,
Jer

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post #24 of 36 Old Apr 1st, 2010, 12:09 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by tonygret
I have been flamed for this here before, but your ad needs some help. First add words like motorcycle, bike, touring, etc. I would also add search term like Gold Wing, Concourse, Ultra Classic and other similar bikes. Simply make a list of relevant search words and put them in parentheses at the bottom of the listing. Donít worry about what the other posters will scream about how unethical this is. You want to maximize your ad's exposure and be on a level playing field.

As for resale value, I have stated before, I have never owned anything with the exception of a pair of shoes that has devalued so much so fast. I think you should be able to get your asking price and more if you change the ad a little and find other places for it such as ebay. Stay away from Cycle Trader, the site is horrible and the staff are all idiots.
I agree, it's about marketing. Example:

Blind boy setting on the library steps with a sign that says, "I'm blind" and a hat for contributions. Hat is almost empty when a man approaches and askes if he can change the boy's sign. Boy agrees and the man turns over the sign, writes something and leaves. He comes back two hours later and the hat is overflowing with money. The sign now reads, "It's a beautiful day; but I can see it". Says the same thing; but it's all about the sizzle, not the steak.
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post #25 of 36 Old Apr 1st, 2010, 12:38 pm
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Re: LT's poor re-sale value?

My 2003 K1200LT hasn't cost me much at all in maintenance and repairs. Just the usual stuff like tires, one battery, and the scheduled maintenance. Other than that, it hasn't cost alot to ride. I know I got a good bike in good condition and happy with it. I don't know why it's said they are expensive to maintain.

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post #26 of 36 Old Apr 1st, 2010, 1:39 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by copilot
The sign now reads, "It's a beautiful day; but I can see it". Says the same thing; but it's all about the sizzle, not the steak.
"It's a beautiful day, but I can't see it."

I like the color much better than the yellow and the green.....

Most 7 year old bikes aren't going to keep more than a third of their value. At 10% a year you are at 30%. I think you need to be more patient and expand your exposure. I don't think the price was ever the issue.

The two I have sold were on eBay. But you have to have faith that you have it represented well enough to get what it's worth. I sold my 7 year old RS for 8K three years ago.... when times were arguably worse. I think the value of your bike is closer to 8 than 7 myself. But you have to sell it. Anyone who knows LTs can read your add and know what it is.... others I fear would have no idea what they are looking at. "That guy" is the one who will give you $8,500 in an eBay auction......

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post #27 of 36 Old Apr 1st, 2010, 2:27 pm Thread Starter
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Re: LT's poor re-sale value?

I like the color too - I think it looks very classy and the darker brown makes the chrome pop more. In my opinion it's alot better that that washed out Champagne color, never liked that at all. Looks like something my grandma would want for her cadilac.

Quote:
Originally Posted by Toolman
I've had good luck with Craigslist for small items, but I've found it's a magnet for scams when trying to sell vehicles. Do you have it advertised anywhere else? If not...and if this Nevada lead doesn't pan out, you might consider eBay and/or CycleTrader.com. I mean no disrespect, but Craigslist is not the first place I'd look if I were in the market for touring bike. Best of luck

P.S. - I happen to like the color...certainly better than a few of the other LT colors (I won't mention them here).

TBob
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post #28 of 36 Old Apr 1st, 2010, 2:28 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by atrovarious
Most 7 year old bikes aren't going to keep more than a third of their value. At 10% a year you are at 30%. I think you need to be more patient and expand your exposure. I don't think the price was ever the issue.
haha.
Try buying any 7yo H-D for 33% of original price.
example: 2003 FLHRCI - list $17,640: avg retail - $10,010 (which is much lower than you could ever really buy one for).
That's 57%. I'd expect other H-D models to be in the same ballpark.

But if you bought a bike concerned about the resale value, you didn't really buy a bike to ride....you bought one just to say you have one too.

Dave
-2000 K1200LT
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post #29 of 36 Old Apr 1st, 2010, 2:59 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by dukey33
haha.
Try buying any 7yo H-D for 33% of original price.
example: 2003 FLHRCI - list $17,640: avg retail - $10,010 (which is much lower than you could ever really buy one for).
That's 57%. I'd expect other H-D models to be in the same ballpark.

But if you bought a bike concerned about the resale value, you didn't really buy a bike to ride....you bought one just to say you have one too.
There are certainly exceptions... though I doubt you would find a buyer for a 7 yo HD with 50K on it (or an HD with 50K on it LOL) at 57%.

I should have clarified (well ridden) 7 year old bike.

Ghaison (Jason)
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post #30 of 36 Old Apr 1st, 2010, 3:38 pm
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Re: LT's poor re-sale value?

Quote:
Originally Posted by TBob
I like the color too - I think it looks very classy and the darker brown makes the chrome pop more. In my opinion it's alot better that that washed out Champagne color, never liked that at all. Looks like something my grandma would want for her Caddilac.
I'm not a fan of Champagne either...what were those German's thinking when they came up with that one??

Maybe update your Craiglist posting and call your color "Tit-Nipple" brown.....and see if that sparks any interest!! Sorry couldn't resist. Best of luck bro.

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post #31 of 36 Old Apr 1st, 2010, 10:35 pm
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Re: LT's poor re-sale value?

I don't think it's your bike or your price.....just today's economy....you know...all that "hope and change" stuff. BTW...hows that working out for you???

I've had my Triumph Rocket III up for sale for over a year now with no takers. Guess I'd just rather keep it and have two bikes than to give it away.

Good luck!

Rocket Ron


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2002 LT
2005 Triumph Rocket
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post #32 of 36 Old Apr 1st, 2010, 11:02 pm
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Re: LT's poor re-sale value?

Hope and Change is going very well for me - just bought a 2009 K1200LT - great dealer incentives! The economy is improving and the future is looking brighter than a year ago. However, used motorcycle prices are not holding up very well across all brands (thank your lucky stars you're not trying to sell a boat). Had to sell my '96 Goldwing for a few thousand less than what it would have gone for a year or two ago. The good news is that I'm now riding a BMW and smiling just thinking about it!

BTW, my 2009 LT only cost $4,000 more than the price of my Wing in 1996. That's a helluva bargain IMHO.

Last edited by Aequitas; Apr 1st, 2010 at 11:09 pm.
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post #33 of 36 Old Apr 2nd, 2010, 3:32 am
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Re: LT's poor re-sale value?

Nicely done! Welcome!

Quote:
Originally Posted by Aequitas
Hope and Change is going very well for me - just bought a 2009 K1200LT - great dealer incentives! The economy is improving and the future is looking brighter than a year ago. However, used motorcycle prices are not holding up very well across all brands (thank your lucky stars you're not trying to sell a boat). Had to sell my '96 Goldwing for a few thousand less than what it would have gone for a year or two ago. The good news is that I'm now riding a BMW and smiling just thinking about it!

BTW, my 2009 LT only cost $4,000 more than the price of my Wing in 1996. That's a helluva bargain IMHO.

WAK1200LT
Loren

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post #34 of 36 Old Apr 2nd, 2010, 2:05 pm Thread Starter
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Re: LT's poor re-sale value?

it's not and that's why i didn't vote for him.

Quote:
Originally Posted by RocketRon
I don't think it's your bike or your price.....just today's economy....you know...all that "hope and change" stuff. BTW...hows that working out for you???

I've had my Triumph Rocket III up for sale for over a year now with no takers. Guess I'd just rather keep it and have two bikes than to give it away.

Good luck!

TBob
09 R1200 GSA
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'03 LT Impala Brown - FOR SALE
'01 KTM 520 EXC

Interested in a Kontour seat? PM me I would be happy to share my Kontour experience.
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post #35 of 36 Old Apr 2nd, 2010, 2:13 pm Thread Starter
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Re: LT's poor re-sale value?

improving? I must have missed that somewhere. Some interesting reading
http://realestate.yahoo.com/promo/sp...ce=patrick.net

http://www.rasmussenreports.com/publ..._year_from_now

but hey on the bright side we do have change


Quote:
Originally Posted by Aequitas
Hope and Change is going very well for me - just bought a 2009 K1200LT - great dealer incentives! The economy is improving and the future is looking brighter than a year ago. However, used motorcycle prices are not holding up very well across all brands (thank your lucky stars you're not trying to sell a boat). Had to sell my '96 Goldwing for a few thousand less than what it would have gone for a year or two ago. The good news is that I'm now riding a BMW and smiling just thinking about it!

BTW, my 2009 LT only cost $4,000 more than the price of my Wing in 1996. That's a helluva bargain IMHO.

TBob
09 R1200 GSA
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'03 LT Impala Brown - FOR SALE
'01 KTM 520 EXC

Interested in a Kontour seat? PM me I would be happy to share my Kontour experience.
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post #36 of 36 Old Apr 2nd, 2010, 3:26 pm
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Re: LT's poor re-sale value?

Me, I'm happy with my 09LT as long as the shimmy problem is solved, soon. I'm happy cuz the wife is starting to ride with me after all these years. The LT is the one she picked out. I've agreed to drive for her- SMART. I imagine we'll keep it a long time, no intention of selling for she thinks it as the best ergo's for the pillion. The Wing was too wide.
But really, what bike holds it's value?
"Ride like you stole it"

Kaw ZX12R Ninja
05 GS ADV
07 GS ADV- Iron Butt, Copper Canyon
09 LT

Jack
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