Advice: Should I sell now or wait?

[wood]

Hello everyone, I have a difficult question to ask.  I've been a lurker for a couple of years and have benefited greatly from all of the advice on the board.

However, my wife and I are about to buy a house in Florida (I'm in Washington now).  I'd like to sell my bike to help pay for closing costs.  It's a 2005 S2R 800 with just over 6,000 miles.  Red/white, minor mods(seat, mirrors, levers), serviced by the dealer, etc.

The real problem lies here.  The bike has been down once at slow speeds (at the Sport Bike rider course, no less).  There was scratch damage to the right bar end, Pazzo Brake lever, and the clutch cover.  The rest of the bike is in great shape, no damage to the frame or the tank.  Still rides fantastic.

I'm at a crossroads.  Should I sell the bike as is and take the expected/understandable hit ($4000-$4500) or should I take the time to repair the minor damage and try to get a little more for it?  I'd like to sell as soon as possible, but would take the extra time if absolutely necessary.

Thanks for any input you guys can provide.

[Spidey]

It's not necessary at all.  Repairing the clutch cover on a wet clutch bike is not worth it.  Depending on the damage, replacing the bar end and the Pazzo lever might be worth it and both are a quick and easy fix.  Either way, make sure you disclose the damage to a buyer.  If you can get the frame checked for $100-200 and get a certificate that it's good, that's often worth it, but not if you're under time pressure to sell it.

Ultimately, the time pressure is going to affect the price as much or more than the damage you described. 

[Popeye the Sailor]

1) It's not typically worth it to repair it-the seller often assumes the damage is worse than it was.

2) Not to be difficult, but your asking price is essentially what I got for a similar vintage S4R. Or to rephrase, your bike may not be worth what you think it's worth.

[Autostrada Pilot]

Both good points.  I'd also like to say that in my area, bikes tend to sell for more money this time of year as it's riding season.  Riding season brings more buyers to the table. 

As much as we love our bikes, they're usually depreciating assets.  You can always buy another one later (unless you have Spideys or Kopfjagers bikes-they would be awfully hard to replace easily).

[wood]

Thanks for the quick replies, good points and it puts things in a little bit of perspective.  I guess I'll probably focus on getting it ready for sale.  Here in Seattle, it seems that bikes tend to sell at or just above the market price, compared to the rest of the country.  I'll shoot for the low end and hope for the best.

[causeofkaos]

Me personally and not knowing the details of your financialls, i would end up regretting selling the bike unless u have every intention of upgrading later. Your gonna take a bigger loss on the sale then you want and when it comes to replce you might not get the deal u hope. that ends up counting as a double whammy in my book. Its paid for keep it.
my take on this type of thing, there are 2 forces at play here

Need and Want.

need = always work out no matter what; if you need to pay for something you will get it paid selling the bike may or may not get it done.

want = ends up getting put on the back burner cuz something else always comes up. when it comes time to replace the bike, when u WANT to replace the bike other unexpecteds will get in the way.

I look at it as a part of the home appliance family. Would you sell the fridge and washing machine to cover closing costs.

just a different opinion if you have already made your decision then go with it.

[muskrat]

a bike is NOT an asset, certainly not an appreciating asset.  It's a hobby and you will spend money regardless.  I've had my share of bikes and ALWAYS lose money no matter what I strip from her and then sell.  The question to ask is whether or not the $4K you will get for the bike (assuming) will make a difference in your payments.  Likely not to happen on a 30 year fixed, at least not substantial enough to take the plunge.  

[sbrguy]

if you need the cash then now is the time to sell mid summer great weather, sell now you won't get anymore for it if you wait another day.

that being said, if you think you will eventually buy another bike in a year or two then don't sell you are then like others saying "double whammy" of loss on this bike then on the next biek to get it into shape.

again if you are really strapped for cash sell it and get what you can, take the loss but 4k in hand is still 4k in hand no matter how we say it.

[booger]

It's a crap economy, and just take a look at the for sale section - there are more S2R800s than anything else. You will take a pauper's pittance if you try to sell. Best to just keep it and enjoy. Sell dope to schoolkids disguised as a nun or something instead.

[jim_0068]

I bought a MINT 4700 mile S2R 800 for $5,000.

Just saying.

[DoubleEagle]

I'd need more details about the financial situation before I could give you a honest opinion of what I think is best.

i.e. your age, are you single , if married do you both have decent jobs w, decent income.

How is the job situation being that you are going from Washington all the way to Florida ?

Have job(s) already lined up ?

Going to do a traditional 30 year fixed Mortgage w, 20 % down ? No funny creative financing....$0 down , Balloon mortgage ?

Equity from the place you are leaving ?

Car loans , Credit card debt ?

Dolph          

[Autostrada Pilot]

It's a crap economy, and just take a look at the for sale section - there are more S2R800s than anything else. You will take a pauper's pittance if you try to sell. Best to just keep it and enjoy. Sell dope to schoolkids disguised as a nun or something instead.

While this is often the case, it can't hurt to list the bike and see what kind of response you get.  If people don't want to pay what you think it's worth, you don't have to sell it to them.  In my area, Ducati's often sell for above book as there aren't very many around.

I'm in the same boat with my car-it's in great shape, and if I can't get what I want for it, I'll keep it and drive it into the ground.

[trenner]

your asking price is essentially what I got for a similar vintage S4R.

Yeah, but your S4R had a reputation for collecting dirt and grime.  It's still referred to as Mudball, by the way.

[adamld83]

You can take care of the clutch cover with a sling shot racing cover for $150. Or leave it up to the buyer. It looks like a quality piece and I was going to get one for an 05 s2r dark that was lowsided. It had full arrows, clip ons, tail chop, 6k service with 7k on it. We settled on 4500 before I bought an 06 s2r 800 that was flawless with 5400 miles for 5k.

[Spidey]

You can take care of the clutch cover with a sling shot racing cover for $150. Or leave it up to the buyer. It looks like a quality piece and I was going to get one for an 05 s2r dark that was lowsided.

I would really have liked to see that mod.  

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<whisper>
S2r 800 is a wet clutch
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