Real world pricing of used Versys; fact vs. fantasy
I am seriously in the market to buy a Versys. So I have been looking all over the US to get an idea of the cost of both new and used. I routinely see people asking about $5k for a used stock 09 Versys and $6k for one with a few farkles. People need to get a reality check on their pricing models.
If you actively look, you can buy BRAND NEW left over 09ís with 0 miles on them for as cheap as $3999 and quite a few in the low to mid $4,000 range! Why would I pay $5k for a used one when I can buy new for less? Unfortunately for me I am not located near any of these dealers but a 2 hour plane flight and I could be there.
Everybody likes to quote the NADA guide or some other guide for justification of their used pricing. The guides arenít always accurate and they typically lag the market a bit. Even a quick perusal of Craigs List will show you how out of touch people are with the real world. Look at Denver for example. There is a dealer selling brand new ones there for $5,000 (not even remotely the best price Iíve found) but people were asking $5,500 for a used one with 400 miles. They finally came down on price to $4,800 but youíd still have less warranty than a new once based on the in service date (purchase date). Additionally the dealer would likely give you a good discount on parts and accessories at the time of purchase.
Given the choice of buying a new one for $4,500 or a used one for the same price, it is a no brainer. In reality the used ones should be at a minimum 10% less than the lower end new ones I can find. I found 8 brand new 09ís scattered around the US for less than $4600! The typical used one here on the forum is more than that. We all know farkles only fetch a fraction of their new value anyway unless you are lucky enough to find a buyer that wants almost exactly what you have on your bike.
At this point Iíve decided to buy a Versys and if all goes well Iíll have one next week. I havenít found exactly who Iíll buy it from but I have definitely decided on buying one. Since the used prices are often higher than the new ones, Iíll likely buy a new one. It doesnít make economic sense to buy a used 08 with 3-5k miles for about $4300 when I can buy a brand new 09 for $4,500. The new price is based on the lower prices Iíve found and from the dealer closest to me. I checked with most of the dealers and there are no outrageous doc fees or setup fees too. I worked in the business for a long time so I know what is reasonable to expect.
My suggestion to those of you selling used bikes would be to price your product more carefully or plan on holding on to it for a long time unless you get very lucky. It is NOT a sellerís market at the moment. Each day your scoot depreciates more and winter isnít that far off in many places of the US and then there will be a much bigger drop in price.
I called quite a few people on CL who recently sold their 09's with very low miles (2k or less) and the average price they got was about $4,100. One nicely farkled out went for $4,300 with givi bags and windscreen. That price will just continue to drop over the next few months as the dealers that still have remaining inventory decide to blow it out as well. Some dealers have already figured that out and that is why you see so many brand new ones under $5k from the dealers. While this doesn't represent all the dealers out there the trend is definitely heading that way.
I know how I'll vote with my wallet. I'd prefer to buy from a forum member here but many people don't even reply to PMs or emails even asking if their bikes are still for sale. Unfortunately many of the prices here don't reflect the reality of the market either.