This auction is a great example of how eBay can tell us almost exactly what the *real price* of something is- If I counted correctly, there were 22 bids from 12 different bidders. The progression of bid amounts was orderly, and all of the last 10 bidders had a lot of eBay experience.
I see plenty of posts on the CR list that seem to imply that people are paying too much for items on eBay. Don's post stops short of that, but he seems very surprised... that's OK. Here's what I see:
1) Raleigh is one of the most popular marques ever 2) The Professional was their top model 3) Its size is smack-dab in the middle of a bell-shaped curve 4) Pretty much all of it's components were exactly what all the professional racers were using at the time 5) In particular, the rear der is special, and the wheelset is really nice
I have been messing around in this game for more than 15 years, and my opinion is that:
a) For the last 10 or so years, in general, our beloved high-end vintage racing bikes and parts have appreciated in value faster than our savings accounts, mutual funds, and homes. (I'm NOT saying that's good or bad -because most people don't do this as an investment- I'm simply saying that it's a reality) b) I believe that these bikes are still undervalued (could continue to get more expensive) because more and more people are interested in things from the past, like pro-quality bicycles that embody the romance and grit of, for example, the Tour de France. Lance has raised the visibility of bicycle racing and racing bicycles to the highest level ever in america, if not the world. c) There's a "flight to quality" whether people know they're doing that or not. There's not a whole lot of "quality" perceived in the US dollar right now... and there's no practical reason to be holding Euros or Yen either.
Summary:
* Sorry for sounding like a no-it-all junior economist * I just work in a print shop * If more and more people are as passionate as I am about vintage bikes and parts, then it's predictable that prices will go up over time... * With some notable exceptions, I believe that eBay should be viewed as the *actual* state of affairs (vis a vis values), rather than a venue to see off-the-chart transactions. (LIKE IT OR NOT, EBAY IS THE MARKET)
I'm done, thanks for reading
John Barron Minneapolis MN USA http://www.velostuf.com
Don Gillies wrote:
Date: Sat, 27 Feb 2010 13:37:55 -0800 From: donald gillies <gillies@ece.ubc.ca> Subject: [CR] Amazing Price for 1970 Raleigh (White) Pro (Used) To: <classicrendezvous@bikelist.org> Message-ID: <20100227213755.4FA357EC6A@lvs1-r2.ece.ubc.ca> Content-Type: text/plain
Well, at least it was a happy valentine's day for SOMEONE ...
$1351 + $90 shipping. I think this is definitely a record price for a Raleigh that's NOT NIB/NOS (note that two NOS/NIB mid-70's bikes were sold in the $2000-$3000 range a few years ago on ebay.) Wowie !!!
- Don Gillies
San Diego, CA, USA