Selling some of my stable and getting COVID pricing?

[Nags&Ducs]

Just sold my 2008 Colnago Extreme C and 2005 Fondriest TF1 Top Carbon on CL recently. This is the third spring in a row that I’ve had them for sale at my asking prices and finally got them this time. Im thinking it has to do with the Covid effect on pricing, as it seems the prices of everything are going up. Boats, planes, cars, and homes are at feeding frenzy prices. For instance, I’ve been researching the market for a Mercedes G-wagen and prices are starting to climb back up. Just last summer, a mid-2000 G500 or G55 in good condition could be had for about $25k-$35k. Now it seems they’re at least $30k for the G500, and $40k for the G55. Boats in general and certain planes like a Cirrus are shooting up almost like houses!

Maybe that’s why I was able to get my asking for my bikes. What are you guys that are selling bikes seeing?

[Veloo]

The used market is nuts.

Bidding wars going on.
People asking for MSRP on 20+ year old bikes in crap condition and they sell. You basically have to say I'll take it and not ask any questions until you're there looking at the bike.

I'm looking at the $300 - $800 range for friends. Pieces of junk are being listed for $300+ that I wouldn't even take for free.
People have very twisted ideas of the definitions of mint, tuned up, like new, etc.

[SPOKE]

I often check out AutoTrader, BringATrailer & CycleTrader. Last summer a 2016 911GTS with less than 10k miles might bring about $85-90k. Now more like $115-120k if less than 10k miles. I expected that car to start appreciating in about 15-20 years.

[NHAero]

I just re-listed my Casati on CL, and added the Dave Anderson frameset. Hope I have the same good fortune the OP had!

[AngryScientist]

I am [very] obviously not an economist, but i just dont get it.

i have SO many friends and acquaintances out of work. pals who worked the lights on broadway, the restaurants and bars in downtown NYC that is dead as a doornail now, management at Marriott, etc.

all of these were good paying jobs that have evaporated at the moment.

where the hell is all this money coming from to buy 911s, boats, campers and halo bikes?

[slowpoke]

Originally Posted by AngryScientist

where the hell is all this money coming from to buy 911s, boats, campers and halo bikes?

Paceliners making money off Dogecoin.

[TunaAndBikes]

Originally Posted by AngryScientist

I am [very] obviously not an economist, but i just dont get it.

i have SO many friends and acquaintances out of work. pals who worked the lights on broadway, the restaurants and bars in downtown NYC that is dead as a doornail now, management at Marriott, etc.

all of these were good paying jobs that have evaporated at the moment.

where the hell is all this money coming from to buy 911s, boats, campers and halo bikes?

Friends in IT/Tech are laughing their way to the bank.

All people that would also go out on vacation twice a year which leave them with a bunch of disposable income at their feet.

[batman1425]

Originally Posted by AngryScientist

I am [very] obviously not an economist, but i just dont get it.

i have SO many friends and acquaintances out of work. pals who worked the lights on broadway, the restaurants and bars in downtown NYC that is dead as a doornail now, management at Marriott, etc.

all of these were good paying jobs that have evaporated at the moment.

where the hell is all this money coming from to buy 911s, boats, campers and halo bikes?

Were those people in the market for 911's, boats, and halo bikes before the pandemic? The person with 100k to blow on a porsche still has that now. Probably more given the stock market trajectory over the last year and their lack of access to the usual mechanisms they would have been spending on - events, travel, etc. Rich people are still rich. Everybody else took a step back.

[AngryScientist]

Originally Posted by batman1425

Were those people in the market for 911's, boats, and halo bikes before the pandemic? The person with 100k to blow on a porsche still has that now. Probably more given the stock market trajectory over the last year and their lack of access to the usual mechanisms they would have been spending on - events, travel, etc. Rich people are still rich. Everybody else took a step back.

that's a very valid/good point. that's what i like about this forum. i am always learning new perspectives and insights.

[Jaybee]

Originally Posted by TunaAndBikes

Friends in IT/Tech are laughing their way to the bank.

All people that would also go out on vacation twice a year which leave them with a bunch of disposable income at their feet.

https://www.uschamber.com/series/abo...haped-recovery

[glepore]

Supply is tight. Boomers are transferring wealth. But what folks are missing is that people spent a TON of money on entertainment -vacations, concerts, bars, dining out- that covid ended. It resulted in entertainment budgets that were rethought.

Cirrus? I don't play in that space, but suspect that's a supply side issue.

[Nags&Ducs]

Originally Posted by glepore

Supply is tight. Boomers are transferring wealth. But what folks are missing is that people spent a TON of money on entertainment -vacations, concerts, bars, dining out- that covid ended. It resulted in entertainment budgets that were rethought.

Cirrus? I don't play in that space, but suspect that's a supply side issue.

Just flew with a guy that sold his Cirrus last year for $50k more than he paid for it 4 years ago. But you might be right that it’s that specific plane, and this a supply side issue. I’m not seeing those kinds of price increases in other planes. I’m also on the hunt for a single engine plane. My ideal plane would be a Focke Wulf 149D. Or a Yak-52. . Sub $150k is my budget limit.

[ripvanrando]

Combine no supply with free money from the magic money tree. Prices explode especially on cheap stuff like used bikes. Some bike stuff you cannot get, period.

Many won't work because they can extract more money by not working.

I think we will learn in the not too distant future about all the falsifications to get loans and grants. I have heard many stories about shady or small businesses taking hundreds of thousands in these.

This economy feels to me like the late 70's all over again.

[prototoast]

Originally Posted by AngryScientist

I am [very] obviously not an economist, but i just dont get it.

i have SO many friends and acquaintances out of work. pals who worked the lights on broadway, the restaurants and bars in downtown NYC that is dead as a doornail now, management at Marriott, etc.

all of these were good paying jobs that have evaporated at the moment.

where the hell is all this money coming from to buy 911s, boats, campers and halo bikes?

Your friendly neighborhood economist here. New York and New Jersey have had some of the biggest job losses in the country, so your personal experience may not be representative of the country as a whole. Overall, real disposable income spiked an unprecedented amount during the pandemic, due in large part to government support.



We lost 22 million jobs at the worst point, but have gained back 12 million of those jobs, and even at the worst point, more than 85% of the people working before the pandemic still had a job.



Then combine that with the fact that many common expenditures (vacations, live entertainment, restaurants) were unavailable, that meant that there were a lot of people with more money than they used to have to spend on those things they could still spend money on.

[ripvanrando]

Originally Posted by prototoast

Your friendly neighborhood economist here. New York and New Jersey have had some of the biggest job losses in the country, so your personal experience may not be representative of the country as a whole. Overall, real disposable income spiked an unprecedented amount during the pandemic, due in large part to government support.



We lost 22 million jobs at the worst point, but have gained back 12 million of those jobs, and even at the worst point, more than 85% of the people working before the pandemic still had a job.



Then combine that with the fact that many common expenditures (vacations, live entertainment, restaurants) were unavailable, that meant that there were a lot of people with more money than they used to have to spend on those things they could still spend money on.

Can I steal that chart, best representation of that Magic Money Tree.