Real world pricing of used Versys; fact vs. fantasy - Kawasaki Versys Forum
Closed Thread
 
LinkBack Thread Tools Display Modes
post #1 of 98 (permalink) Old 07-16-2010, 12:59 PM Thread Starter
Member
 
Join Date: Jul 2010
Posts: 21
Mentioned: 0 Post(s)
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.
Wavshrdr is offline  
Sponsored Links
Advertisement
 
post #2 of 98 (permalink) Old 07-16-2010, 01:27 PM
Member
 
dakotav899's Avatar
 
Join Date: Mar 2010
Location: Dubuque, Iowa
Posts: 81
Mentioned: 0 Post(s)
I guess I'm a little confused by this post...your complaining that people are asking too much for THEIR Versys?


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.


08 Versys
97 Suzuki DR350
Pro Grip tank protector
Wee Strom hand guards
Nelson Riggs Soft Bags
Xelement Black mini tank bag
Xelement Silver ignitor Tri-Tex Fabric and Mesh Jacket with armor
Xelement Advanced silver and black Fabric Pants with level 3 armor
12V Powerlet
Nuvi 550 GPS
Yoshimura TRC slip on (stainless)
dakotav899 is offline  
post #3 of 98 (permalink) Old 07-16-2010, 01:33 PM
Member
 
Pretbek's Avatar
 
Join Date: Apr 2009
Location: West Chester, PA
Posts: 739
Mentioned: 0 Post(s)
Are there additional fees that you pay at the dealer, that you would not pay in a private deal? "Not outrageous" as you say might still be a couple of hundred dollars that add up to close the difference.

In the end, "price to your door" is what counts.
If the only way that you can get one of those $3,999 new '09 bikes is by paying for a 2 hour flight and riding it back home, then the "overpriced" second hand bike 80 miles down the road may not be so overpriced, right?
Pretbek is offline  
 
post #4 of 98 (permalink) Old 07-16-2010, 01:42 PM
Member
 
Join Date: Mar 2010
Location: Houston, 3rd Rock
Posts: 489
Mentioned: 0 Post(s)
Talking Value

I hope people keep asking top dollar for the Versys. Hopefully that will help keep the

value of mine up. And besides the dealers will eventually run out of 09's.
Tex Vs is offline  
post #5 of 98 (permalink) Old 07-16-2010, 01:46 PM
Member
 
Victrix's Avatar
 
Join Date: Mar 2010
Posts: 25
Mentioned: 0 Post(s)
I guess I am a little confused as well. Seems to me you need to get on down to a store and buy a NEW Versys asap!

I understand you wanting\wishing everyone to LOWER thier prices on the used bikes to suit you. My thinking would be that these USED bikes must be selling or they would not be asking those prices.

One other thing to remember, is that dealers get holdback, quantity discounts etc... That does allow them to cut down on pricing and move inventory and still make money. More power to them. So go take advantage and get yourself a new one.
Victrix is offline  
post #6 of 98 (permalink) Old 07-16-2010, 01:49 PM
Member
 
Victrix's Avatar
 
Join Date: Mar 2010
Posts: 25
Mentioned: 0 Post(s)
PS.. Think of that NICE 2 hour ride back home on your new bike. I would consider that a plus!!!!

Vic
Victrix is offline  
post #7 of 98 (permalink) Old 07-16-2010, 01:53 PM
Member
 
cetzel's Avatar
 
Join Date: Apr 2009
Location: Memphis, TN
Posts: 262
Mentioned: 0 Post(s)
The reality is that the bikes at the dealer that are selling so cheap with 0 miles haven't already been financed. Most bikes for sale with the prices you consider unrealistic likely come with strings (bank-held title) attached.

I agree with Dakota: It's not unrealistic to over-value MY OWN bike, and as Tex Vs said: let's keep value up!!

Good luck on your V purchase! Hope you hear you're riding one soon!

2009 Versys
2000 Vulcan Drifter 800
cetzel is offline  
post #8 of 98 (permalink) Old 07-16-2010, 02:02 PM
Member
 
jchristian79's Avatar
 
Join Date: May 2010
Location: Sacramento, Ca
Posts: 254
Mentioned: 0 Post(s)
Where do you live? Within 400 miles of me, the cheapest new '09 you can get from a dealer is $4999 (plus tax, license, dealer fees, etc.) In town is a different story, there's only 1 dealer within 50 miles that has an '09. They still have it for $6200 otd. Not to mention that I've only been able to find just a few used Versys for sale in Ca on Craigs.

If you've got the money (& time) to spend to fly somewhere and drive back a bike, more power to you. Sounds like you've spent quite a lot of time researching all this. Stop researching and just buy one already!

jchristian79 is offline  
post #9 of 98 (permalink) Old 07-16-2010, 02:04 PM Thread Starter
Member
 
Join Date: Jul 2010
Posts: 21
Mentioned: 0 Post(s)
I have no local used bikes in my area for sale. Whether I buy a used one or new, I am going to have to fly somewhere. Airline tickets aren't that expensive to most places. The point being is most people pricing their used bikes are out of touch with the current market conditions. How can a used 09 with a fair number of miles be worth $5k when you can buy a new one for less than that quite a few places all around the US?

As I stated in my initial post, I worked in the industry (motorcycle) for quite a while. I am familiar with the fees some dealers add on to pad their profit. I worked at a local level (dealer) before moving into an corporate opportunity at a major Japanese manufacturer.

So a brief synopsis of my original post is that people ARE asking too much for their used Versys based on what you can buy a new one for. This is evident in a market such as Denver where I gave an example of a new and used Versys for sale. How is a used one worth $5,500 when you could buy a new one in that market for $5,000? It was an apples to apples comparison as no travel was involved. Ultimately the guy selling his used one came down to $4800 but that isn't enough of a discount vis a vis a new one to really entice most people from buying a new one.

I've seen a lot of these types of examples all around the US in my research to buy a Versys. In almost all istances, the uses prices have almost been the same, if not more, than a new one in the same markets. This indicates to me that the owners are out of touch with the reality of the current market conditions. The economy isn't exactly going gang busters at the moment either and that further depresses the market for what is typically a luxury item, i.e. motorcycles. Additionally most of the guides typically are always lagging behind the reality of the market and less accurate if there are not a high volume of the model in question being sold.

Everyone thinks their bike is the exception to the rule and should command top dollar. Everyone thinks theirs is the only pristine bike for sale and is worthy of a price premium. They all can't command a price premium, otherwise their is no premium so to speak. Most people are too emotionally involved in the sale of their bikes. I can understand their affection to their steed but it sometimes gets in the way. Better a bird in the hand than 2 in the bush.
Wavshrdr is offline  
post #10 of 98 (permalink) Old 07-16-2010, 02:13 PM
Member
 
Jake's Avatar
 
Join Date: Jun 2010
Location: Oklahoma
Posts: 213
Mentioned: 0 Post(s)
Having recently (3 weeks ago) purched a used versys i would like to chime in on this.
Here is what was available in my area.
2 new blue 2009 versys both for $4999+$89 doc fee
1 used green 2009 (800miles) extended waranty till 2014, bone stock $4750+$89 doc fee
2 or so 2008 used bikes for around $4700 (both stock)

I purchased the used green 2009 for a couple of reasons.
1 i didn't want to pay the full tax on a new vehicle.
2 it had a longer waranty than the new one
3 it was green

Now while i agree with you on some points i want to point out that if you want to travel half way across the country and compare prices and ride the bike back do it. But Don't try to compare a price in one part of the country to the other part of the country.

I know what you are trying to do, you don't want to go half way across the country, you just want to use it as a barganing tool.

Here is the way mine ended up:

bike: $4837.00
bags: $750.00
Versys tank pad: $45.00
Total: $5632.00

Also, the dealer through in the first service, and neither me nor the dealer knew about the extended waranty till i had them look it up after the sale.
Jake is offline  
post #11 of 98 (permalink) Old 07-16-2010, 02:15 PM
Member
 
KawiVA76's Avatar
 
Join Date: Apr 2010
Location: Herndon, VA
Posts: 115
Mentioned: 0 Post(s)
This much thought and anxiety should never be applied to motorcycles...Shame on you for introducing financial logistics and bargaining ploys to this forum, my refuge from reality, lol. Seriously though, people are gonna try to sell for whatever they think is fair. When their bike doesn't sell it's their job to make whatever adjustments are necessary. Nobody is forcing you to buy a bike for $5,500, nobody is forcing them to sell for $3,999. I bought my 08' with about 6k on it for $4800 with some great farkles. I was completely content with the purchase, the lowest I found an 09' leftover was $5500 out the door, the items that the 08' came with made it worth it to go used. There are plenty of deals out there, you should have no problem finding one.

Mike
KawiVA76 is offline  
post #12 of 98 (permalink) Old 07-16-2010, 02:15 PM
Member
 
Join Date: May 2008
Location: Princeton, NJ
Posts: 76
Mentioned: 0 Post(s)
Wavshrdr makes a good point (as do the folks who responded). There is a well documented phenomenon in behavioral economics (a combination of psychology and economics) that people value what they have more than the market is willing to pay. This has been documented with data from the housing and other markets. It is called the "Endowment Effect".

You can run the following experiment: Get a group of, say, 20 people together. Split the group in half randomly into group A and group B, and give group A a trinket (say a coffee mug with a logo). Now ask those in group A to write down the least they would take to sell the mug and ask those in group B to write down the most they would pay to buy the mug. You will find that the average asking price of group A (current versys owners) will exceed the average offer of group B (prospective versys owners). This is a well known cognitive bias.

Business's like dealers have market pressures that force them to be more "rational." Individual versys owners do not.

And, of course, there is lots of variation, both across individuals and dealers. So it pays to shop. Wavshrdr was just advising sellers to recognize this and adjust if they want to sell their bike anytime soon. Of course, the sellers may also be hoping an uninformed buyer comes along . . . .

Okay. Pedantic lecture over. -- Hank (loves his versys but is realistic about its market value).
hsfarber is offline  
post #13 of 98 (permalink) Old 07-16-2010, 02:16 PM Thread Starter
Member
 
Join Date: Jul 2010
Posts: 21
Mentioned: 0 Post(s)
Quote:
Originally Posted by jchristian79 View Post
Where do you live? Within 400 miles of me, the cheapest new '09 you can get from a dealer is $4999 (plus tax, license, dealer fees, etc.) In town is a different story, there's only 1 dealer within 50 miles that has an '09. They still have it for $6200 otd. Not to mention that I've only been able to find just a few used Versys for sale in Ca on Craigs.

If you've got the money (& time) to spend to fly somewhere and drive back a bike, more power to you. Sounds like you've spent quite a lot of time researching all this. Stop researching and just buy one already!

Fortunately I have the time and money to fly. I have started negotiations with 3 different dealers. I'll likely buy one next Friday and drive it back home. It should be a nice ride. I have priced the tickets and I can fly one-way for about $125-$189 (taxes included). I'd have a nice easy 2-day ride from almost all the dealers to get back home if I don't want to push it. One I found new for $4,000 would be push it for an easy 2 day ride so I'll like go with one I found for $4300 new.

I have have give too local dealers one last shot to match what I consider a reasonable deal on a new one, $4600 w/tax and all fees. This is basically the same price as the $4300 one at another dealer and adding in my local sales tax which I'd have to pay eventually anyway and a few dollars for doc fees.

If I end up around $4300-$4500 for a new 09 I'll be at the price point I originally planned before tax. I'll treat my ride home as a little vacation as I love to ride anyway and some of the dealers I am considering are near family members or in some very scenic areas where I love to ride anyway.
Wavshrdr is offline  
post #14 of 98 (permalink) Old 07-16-2010, 02:16 PM
Member
 
dakotav899's Avatar
 
Join Date: Mar 2010
Location: Dubuque, Iowa
Posts: 81
Mentioned: 0 Post(s)
Quote:
Originally Posted by Wavshrdr View Post
I have no local used bikes in my area for sale. Whether I buy a used one or new, I am going to have to fly somewhere. Airline tickets aren't that expensive to most places. The point being is most people pricing their used bikes are out of touch with the current market conditions. How can a used 09 with a fair number of miles be worth $5k when you can buy a new one for less than that quite a few places all around the US?

As I stated in my initial post, I worked in the industry (motorcycle) for quite a while. I am familiar with the fees some dealers add on to pad their profit. I worked at a local level (dealer) before moving into an corporate opportunity at a major Japanese manufacturer.

So a brief synopsis of my original post is that people ARE asking too much for their used Versys based on what you can buy a new one for. This is evident in a market such as Denver where I gave an example of a new and used Versys for sale. How is a used one worth $5,500 when you could buy a new one in that market for $5,000? It was an apples to apples comparison as no travel was involved. Ultimately the guy selling his used one came down to $4800 but that isn't enough of a discount vis a vis a new one to really entice most people from buying a new one.

I've seen a lot of these types of examples all around the US in my research to buy a Versys. In almost all istances, the uses prices have almost been the same, if not more, than a new one in the same markets. This indicates to me that the owners are out of touch with the reality of the current market conditions. The economy isn't exactly going gang busters at the moment either and that further depresses the market for what is typically a luxury item, i.e. motorcycles. Additionally most of the guides typically are always lagging behind the reality of the market and less accurate if there are not a high volume of the model in question being sold.

Everyone thinks their bike is the exception to the rule and should command top dollar. Everyone thinks theirs is the only pristine bike for sale and is worthy of a price premium. They all can't command a price premium, otherwise their is no premium so to speak. Most people are too emotionally involved in the sale of their bikes. I can understand their affection to their steed but it sometimes gets in the way. Better a bird in the hand than 2 in the bush.
Good luck in your search...hopefully your not sharing any of your opinions in the PM's that you have sent people inquiring about their V's.....that may explain why they don't answer you back


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.


08 Versys
97 Suzuki DR350
Pro Grip tank protector
Wee Strom hand guards
Nelson Riggs Soft Bags
Xelement Black mini tank bag
Xelement Silver ignitor Tri-Tex Fabric and Mesh Jacket with armor
Xelement Advanced silver and black Fabric Pants with level 3 armor
12V Powerlet
Nuvi 550 GPS
Yoshimura TRC slip on (stainless)
dakotav899 is offline  
post #15 of 98 (permalink) Old 07-16-2010, 02:17 PM
Member
 
Bones's Avatar
 
Join Date: Aug 2008
Location: western Massachusetts
Posts: 1,790
Mentioned: 0 Post(s)
You can go on all day about "fact vs. fantasy" but the only price that matters is what someone actually pays when a transaction takes place.


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.


[SIZE="1"]Ride. Good.

2019 F750GS
2014 R1200RT
2008 Versys (SOLD 11/19)
2003 ST1300ABS (SOLD 5/15)
IBA 59868
Bones is offline  
post #16 of 98 (permalink) Old 07-16-2010, 02:42 PM
djg
Member
 
Join Date: Jul 2010
Location: western wisconsin
Posts: 643
Mentioned: 0 Post(s)
I got a new blue '09 last weekend for $4744.00 not including tax, title, etc. I drove 170 miles for that deal.
djg is offline  
post #17 of 98 (permalink) Old 07-16-2010, 02:44 PM
Member
 
Join Date: Aug 2008
Location: Springville, New York
Posts: 99
Mentioned: 0 Post(s)
I wonder ... What you will sell yours for in a year or two ? ... If you practice what you preach ... Put me at the top of the list ... I'm sure it will be at a price that any of us here would "JUMP AT" ...
freewheeler is offline  
post #18 of 98 (permalink) Old 07-16-2010, 02:45 PM
Member
 
shikataganai's Avatar
 
Join Date: Dec 2009
Location: Nassau County, NY
Posts: 49
Mentioned: 0 Post(s)
Send a message via AIM to shikataganai
I bought my '08 V with 4800 miles (at the time) in January 2010 for $3500 about an hour outside of NYC, just to add another data point. It was stock save for a Givi windscreen.


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
shikataganai is offline  
post #19 of 98 (permalink) Old 07-16-2010, 02:50 PM
Member
 
kenr74's Avatar
 
Join Date: Apr 2010
Location: The wet part of Oregon
Posts: 774
Mentioned: 0 Post(s)
I buy and sell a lot of bikes. Usually each time I get an email with some rediculous offer from somebody like you that explains why my price is too high. It normally takes a month or two to sell my bikes but they do sell and I normally get close to what I'm asking.

The bottom line is that a bike is worth whatever somebody is willing to pay for it and whatever a seller is willing to let it go for at that moment in time. If you don't like the price move on.

1974 Kawasaki F11
2004 Yamaha WR450 plated
2014 Kawasaki Versys 650
kenr74 is offline  
post #20 of 98 (permalink) Old 07-16-2010, 02:56 PM
Member
 
BamaVersys's Avatar
 
Join Date: Jun 2009
Location: Athens, Alabama
Posts: 98
Mentioned: 0 Post(s)
I bought my '08 V with 2525 miles on it bone stock for 3300 OTD from a dealer on 6/09. It was repossesed. I did go ahead and buy the 4 year extended warranty, since I had no idea how it was "broke in". There are deals out there if you look. Bike is practically brand new. I have since put on 12,000 safe and trouble free miles.
BamaVersys is offline  
Sponsored Links
Advertisement
 
Closed Thread

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Kawasaki Versys Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome