View Full Version : RFC: Selling A Broken Bike
Fudmottin 12-26-2008, 04:47 AM I have two 2006 599s. The first one suffered a mild case of lithobraking that resulted in a repair bill that made it easier to purchase a second bike on credit. I now have the title to the first bike and wish to sell it.
While the front end, including the radiator core and headers, is probably a complete loss, the bike actually runs. So far as I know, there is no damage to the frame. The bike has only 1225 miles on the odometer. I've also had it sitting in the garage with the battery disconnected since the crash.
Obviously I would like to get as much money as possible out of it, selling it "AS IS". However I don't want to go to the trouble of parting it out myself. And perhaps someone might want to spend the money on the parts that need replacing and repair it themselves. Who knows?
I plan to get it out of the garage so I can make some video showing the bike in its present condition so that I can post it somewhere for people to check it out before they decide whether they want to make further inquiries. I'm not sure whether to give the local Honda dealer a crack at it or not.
The bike will have to be trailered away. Damage to the front is just bad enough that it would be very unwise to try riding it.
What I have no clue on at present is what it is worth. IIRC, the repair bill from the dealer came out to about $2400. But that included a lot of labor. This was to bring it to like new condition.
From my description, can anyone say what sort of asking price I should put on it? I will do an OBO of course. But I'm sure there is some minimum price I should say yes to. That is the most important figure to me.
If I haven't posted enough info, just say. I'm hoping to do the video soonish. The weather ought not to be too bad in the next couple days for me to roll it out of the garage into some light.
Location is Delaware County, PA (19061). It will be the buyer's responsibility to take the bike away.
sodaking663rd 12-27-2008, 06:56 AM it's going to be a salvage titled vehicle, which would reduce the value of the bike even after fixing up. you say it's going to be about $2500 to restore to new condition but again it retains the salvage title. my guess is about $1500 - $1750. certainly you could probably make more or the same amount of money by parting it out, which understandably you don't want to do. good luck with the sale!
Fudmottin 12-27-2008, 07:30 AM Why would it be a salvage title? I have a regular title from paying off the loan. The frame is not bent. The bike was never declared totaled by anyone. I simply failed to have collision insurance on it.
It's too late for Honda Finance to complain about the lack of collision insurance because the bike is now paid off.
I'm not saying I won't be flexible on the price. But so far as I know, the title is a title.
As for the cost of making it a road safe bike... Well you know how dealers are about price estimates. They marked up areas in green ink that had even the slightest bit of abrasion.
The minimum work as I see it is:
replace front wheel
replace forks (or straighten if possible)
replace battery
replace cowl and related components
replace head lamp
The bike does run.
Again, I'm not trying to bust chops over the information I'm given. This is a respectful difference of opinion.
Of course if I sold it to a salvage business, that would certainly give it a salvage title. But I would not object to someone deciding that they were interested in only the engine and selling off the other parts to offset the payment to me.
There is zero damage to the engine itself. And it does have low milage. I'm sure the rear wheel and other parts are worth something too.
Thanks for the wish of good luck. With the economy tanking, I'm going to need it.
Do you need canned goods and shotguns? I've got some of the former.
JBarx 12-27-2008, 09:21 AM Why would it be a salvage title? I have a regular title from paying off the loan. The frame is not bent. The bike was never declared totaled by anyone. I simply failed to have collision insurance on it.
Just to clear this up - you're right.
A title has to be converted to "salvage" because a claiming party with rights to the vehicle has declared that the appropriate repairs are more than the difference between the street value and salvage value of the vehicle.
For instance, when my bike was declared totaled (with FAR less damage than yours, Fudmottin!), the insurance company takes de facto ownership of the bike, agreeing to pay you an agreed upon value. Then you may have the option to "buy it back" for a salvage price, or simply take the money and put it toward a new vehicle. Most cases they'll shop it to 2 or 3 salvage yards and see what they can charge you for it.
If you don't have collision insurance or there isn't a party involved with lien rights to the vehicle... then a clear title is a clear title. That's why I don't put a lot of faith in the phrase "Clear Title" on ads.
Fudmottin 12-27-2008, 01:12 PM If I wanted to, I could go ahead and repair the bike. Going the whole nine yards would leave me with a low mileage bike. The value of the bike should exceed what it costs to repair it once repaired. Maybe. That's a close call.
And that's the rub. If I paid $2400 to have it repaired to like new condition, and then put it up on cycletrader for $2400, it probably would sit there. If everyone jumped on it at once, then I would feel stupid pricing it so low. I feel stupid enough without that happening.
I could part the bike out. That's theory. Reality is I do not have the tools to take it apart properly so that I can cull out the bad parts and market each good part. Also do I sell the motor and transmission as a unit or separately? What about the wiring harnesses, fuse boxes, ECU, etc, etc?
If I sold it to someone for $2k and they in turn parted it out and got $3k, would I be upset? No. I've got $2k in my pocket to apply to another project.
I would be happier if the person I sold the bike to fixed it and enjoyed it. But once it is sold, it isn't really any of my concern anymore.
I've done my level best to be honest about the bike. I'll never get hired as a salesman. If you can play MPEG-4 (h.264 / AAC) files in m4v format, then check out this link:
http://dl.getdropbox.com/u/360586/HTML/599/index.html
The video file will play on iPhone, iPod touch, and perhaps other iPods. Play length is exactly five minutes.
sodaking663rd 12-27-2008, 02:50 PM i see your point about it not being a salvage. like jbarx said it would have been if you had collision. i think if you can get $2000 for it that would be a good deal for you.
Fudmottin 12-28-2008, 03:19 AM I agree. If someone came to me with $2000 cash, they would get the title instantly. And they could do one of two things. They could do just the repairs required to make the bike safe for riding. That would give them a very good inexpensive bike. It's still got a screaming F3 motor in it. Or they could part it out and pocket the initial outlay and then a bit more. Rims are expensive. Even though the front one is not salable, the rear on sure is. Swing arms aren't cheap either. Or whole engines.
I would actually go lower. There is the price that I would like and there is the price that I will get. I put up an asking price that gives me room to come down on. I won't say what the actual floor is where I just decide that I'm going to keep it as a parts bike or fix it up into a track bike myself.
If I can't sell it for funding something else I want, then fine. I'll keep it.
yeroC 12-28-2008, 10:21 PM Good luck whatever happens dude. I want a project streetfighter eventually but am just not ready yet. I personally wouldn't pay 2K but i don't think you're that far off. I guess if someone wanted to return it to a regular stock 599 that would be cool. But i just think this is a excellent opportunity for a cool project. Have a couple one off pieces made, different bar, headlight, different instrument cluster, cool paint, better forks, etc. So much can be done. It's not meant to be for me at this time, but hopefully it will find a good home.
carlitos_92 12-28-2008, 10:27 PM But i just think this is a excellent opportunity for a cool project. Have a couple one off pieces made, different bar, headlight, different instrument cluster, cool paint, better forks, etc. So much can be done.
Good point. It doesn't sound like you're up for it yourself (yet), Fud, but you know how people around here are always scratching their head wondering how they can graft a CBR front end on these bikes anyway... Seems like you've got the perfect transplant candidate. :wink:
Billy from Philly 12-28-2008, 10:54 PM I added up the parts as per factory prices.
Fender, Tire, Wheel, Forks (2), Headlight, Headlight visor, Muffler covers, Exhaust pipes, Radiator and cover, seat, misc parts, paint tank and cowl.
$4,346. JUST PARTS.... NOT including many other incidental parts that will be needed....plus until you get it on the road you will not know about other possible damage.
Fudmottin 12-29-2008, 12:18 AM Billy, you are way off on the price of the parts. I've got a list. It's a bit long. But it lists all the parts required to make a new bike out of it. That is not necessary.
I could throw ~$2400 at it and have it fixed to near new condition. I'm sure there would always be some evidence that it went down. But then I would need to be asking for $4k or so to make the gamble worth it and I doubt I would get any bites.
The price I put up on craigslist.org is totally negotiable. I don't have a rock solid floor in mind, but let's just say it is under $2k. You could make a rat bike, street fighter, or track bike from it and be doing better than if you bought a used 2006 599 from eBay.
I set the price figuring I would be talked down a bit. I hope I made it clear that I am indeed willing to entertain serious offers. Also the bike does have a real title rather than a salvage title for what that's worth. I'm sure that would help for insurance purposes and street legal purposes.
Heck, the seat is totally undamaged. Just clean off the duct tape residue and it's a perfect seat. The exhaust heat shields are just lightly scuffed. Why replace them?
Other parts you listed are certainly must replace for safety and road legality. Front rim and tire, absolutely (although it hasn't been losing air). Radiator core and cover for sure. Don't want to risk it springing a leak.
Headlight asembly, instrument stuff like the cowl and right side bracket sure do need replacing. I've got a right side bracket that is part of the deal.
Forks absolutely must be replaced. I found out after the video that there is no way to straighten them. Front fender yes.
Are any of the stays that support the headlamp and instrument cluster bent? I honestly don't know. But I don't think so.
To give you an idea of how flexible I am with the price, if you came to me with $1800 cash in hand, I would let you have the bike and title. I'm sort of showing my hand here. That price starts putting me into the basement rather than the floor. But right now is a buyer's market and I know it.
I do suck at poker, btw.
But I was as honest as I could be in the video I made that was of a length that someone would hopefully do. One is watch it all the way through. The second is NOT call me if they decided the repairs were too much trouble or expensive.
This is the ad: http://philadelphia.craigslist.org/mcy/971872808.html
I know that bike has some good parts in it. Engine, transmission, swing arm, rear wheel, frame (99% sure it wasn't bent), rear peg hangers, and other sundry parts. I'm just not up to the job of parting it out.
I would also hate for a salvager to "do me a favor" by picking the bike up for free and then making way more than $2k on the parts.
If I can't get a price I can live with, I'll just keep it.
Billy from Philly 12-29-2008, 09:35 AM For Starters:
fender 125, tire 140, wheel 458 not inc discs, forks (2) 920, Fork bridge 98, Steering stem & parts 245, headlight assm 551, headlight visor 400, muffler covers 140, exhaust pipes 428, rad and cover 110, seat 151, paint cowl and tank 200, plus all sales taxes and shipping. You do the math. And I know I missed a bunch of stuff. And what is your time worth. There is a pristiine 2006 for sale right here on this 599 site for $4,200. with extended warranty.
http://www.honda599.com/forums/showthread.php?t=4757
I dont mean to rain on the parade but honesty is the best policy. All the very best.
Fudmottin 12-30-2008, 10:48 AM I agree that honesty is best. But you do keep including parts (admittedly the cheaper ones) that actually don't need changing.
Anyway, the phone has been quiet. Either craigslist is not actively read or I priced way, way too high.
Or perhaps people are looking up the same exact parts that you are.
If I can't sell it, then I'll just look at taking on the project bike route myself. I'm not ready to do it now as yeroC pointed out, this is a good time of year for such a project. And this being a buyer's market, it would be a good time to shop around for the parts.
Most of the parts I would need are the right tools for the job :-(
Johnny5 12-31-2008, 04:11 PM I PM'ed you
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