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follow-up to 'what's it worth: 2001 serotta' (hey, Len!)...(13 posts)

follow-up to 'what's it worth: 2001 serotta' (hey, Len!)...JS Haiku Shop
Aug 5, 2002 5:01 AM
2001 serotta rapid tour:

ok, so the bike is a BEAUTY, forest green, white accents, very classy lugged steel, 21 pounds with pedals, and responsive as all get-out in the saddle. very comfy, all-day rideable, and fits perfectly.

it has full ultegra (triple), except for a shimano 600 headset. the hoops are open pros, deda quill stem, not sure what kind of bars, and a knock-off seatpost. the rack and fender braze-ons are most delicately attached, meaning they blend with the bike, not subtracting from the old-school charm of this apparent "retro rocket".

couple of concerns, though:

the seatpost was stuck. of course, three guys in a bike shop with a large wrench and 3-foot pipe, after a night upside down with 3-in-1 oil down the seat tube, could probably get it unstuck...but i want to see it first, then get a look inside those tubes. seller's going to have this done by the LBS, then give me a ring, and i'll come back for a look.

though it's a 2001, it looks about 4 years old...ridden hard & put away wet, for a 2-year-old bike. a touch of rust on the chain (no problem...), cables, and the screw that holds the cable guide under the bb. two or three tiny (read, "pebble-sized") nicks in the paint, which have gone from bare metal to rust. could be carefully sanded and touched-up, no biggie.

presently needs a cleanup, new bar wrap, probably a new seatpost, and saddle.

now what's it worth?
Off the top of y head.Len J
Aug 5, 2002 9:03 AM
Sometimes I hate the internet, Had an entire response typed & then the work connection went down, GRRRRRR.

List, New frame $1,450, Full bike starting at $3,058. Last year probably $2,900. I would wonder how it was built up though with the 600 headset if it's only a year old. Check the Ultegra hoods if the flightdeck buttons are both on one hood then the group is from prior to 2001. Assuming it is a 2001 frame figure 50% to 60% or $1,400 to $1,750.

Things increasing value:
-Serotta Name
-Age
-Inclusion of Racks/Fenders/Panniers

Things decreasing the value:
-Touring geometry (demand)
-Condition
-Exclusion of racks/Fenders/Panniers
-Age of component group

Costs avoided if you buy:
-Shipping/Packing since it's local $50

Costs added to get to pristine condition):
-Disassembly/Tune-up/Framse saver application/Reassembly $75
-New cables/casette/chain/bar tape $75
-Paint touchup/nailpolish $25
-Seatpost $50

Additional needs:
-Seat
-Pedals
I'd assume you have these.

Unclear costs:
-Racks/Fenders/Panniers

Negotiation Issues:

Condition: He knows he didn't take care of the bike.
Sig. Other issues: His spouse/SO and he knows he spent a fortune on a bike he didn't use much (?) They both want it out of sight. You will need to give him many rational reasons to support the price he agrees to. I would get a trusted LBS to give me an honest estimate of the costs to bring it up to pristine condition.

All that being said, finding a bike that not only fits your body but also the need you have locally is worth something. To be able to inspect & test ride reduced the buying risk.

I'd probably start negotiating at around $1,350 and be willing to pay around $1,550 max. This gets you on the bike in great shape for somewhere between $1,600 & $1,900 all in. Not a bad buy for a "Lifetime bike" especially a Serotta.

Good Luck & let me know how it goes.

Len
Really?jtolleson
Aug 5, 2002 9:44 AM
A used nice steel touring bike with an Ultegra triple, even with the name Serotta on the downtube, strikes me as about a $1000 proposition.

What am I missing?
Market factors.Len J
Aug 5, 2002 10:00 AM
So your market says that a steel bike loses 2/3rd it's value in a year? So I can buy a colnago steel 1 year old for about $1,100, where do you live? I want to shop there. ;-). (Tongue-in-cheek)

Like them or not, Serotta does have a good used market. The Colorado tubeset does (IMO) ride slightly different than other steel tubesets, I happen to like it, some don't, but if you do, you are willing to pay for it. The bike he is looking at, in addition, is not the tig welded version but the lugged version. In effect, it is the CSI with longer chainstays & a slightly lower BB. If the guy had it built up new a year ago, he would have paid between $2,700 & $3,000. If JS wants to buy a new one, it probably will cost him close to $3,000. $1,500 for a possible lifetime bike is pretty good IMO.

Len
They add value because of the Serotta name/reputation.MB1
Aug 5, 2002 10:02 AM
Used stuff is worth only what someone is willing to pay for it. The internet lets you find more bidders. I too think a used bike not in all that good shape (beware seatpost problems)is only worth $750-$1000.

But offer me a fair condition Cinelli and I'll roll over and beg without shame.
$750/$1,000 for a 1year old $3,000 bike??????Len J
Aug 5, 2002 10:10 AM
You have to help me understand this.

Len
$750/$1,000 for a 1year old $3,000 bike??????jtolleson
Aug 5, 2002 11:57 AM
Part of our communication gap may be your assumption that this was a $3000 bike in '01 (which is very soon to be two model years ago, BTW). I think you'll find that this was more like a $2500 bike with the Ultegra gruppo and OPs. But we're both somewhat guessing.

The used market is remarkably soft. Falling to 1/3 of retail for a bike that has had some decent use is not uncommon... but maybe you are right. The market will bear what the market will bear. All I can say is that I sure wouldn't pay it.
$2400 new (retail) nmJS Haiku Shop
Aug 5, 2002 12:01 PM
$2400 new (retail) nmLen J
Aug 5, 2002 12:07 PM
Reduce my estimate by $300 or so & that's where I'd be.

How did he mange to get it for $2,400?

What's he asking BTW?

len
$1k...JS Haiku Shop
Aug 5, 2002 12:11 PM
after not being able to ride or sell it since january, due to a health problem. he's since moved to recumbents. was asking $1800, but not getting any bites (understandably).
thanks! my math...JS Haiku Shop
Aug 5, 2002 12:04 PM
chain (have it)
cassette (have it)
tubes (have 'em)
rim tape (have it)
pedals (have 'em)
bottle cages (have 'em)
computer (have it)
seatpack (have it)

seatpost $80
saddle $65
framesaver $10
bars & stem $50
tires $40 / pair
bar tape $10
cables & housing $25
------------
$230

viola! (sic)

and, with $230 thrown in, plus some "sweat equity" in cleaning it up and re-cabling things in my garage (J's Haiku Shop), i'm still coming in well under your suggested starting bid of $1350.

my only concern is that stuck seatpost, and the apparent lack of "love" the bike has seen since it was purchased--last year--from the shop. looks like it was ridden in rain a few times, but never cleaned up afterward. once (and if) the seatpost is finessed out, of what things should i be wary? what signs am i looking for to indicate irreversable/catastrophic damage inside the tubes? i've read (on the serotta website) that they pre-treat the inside of steel frames with an anti-corrosion forumla at the factory...

TIA!

J
thanks! my math...Len J
Aug 5, 2002 12:13 PM
Sounds like a great deal assuming, the "Lack of Love" is "Only skin deep" & is easily fixible. As to the stuck seatpost, I've never had this problem so I'll leave that to the experts.

One other thing. Call Serotta and see what they say in answer to your question about what you should be wary of. They really are a helpful bunch.

Len
you're right!...JS Haiku Shop
Aug 5, 2002 12:27 PM
wow, you're so right--those serotta guys are a friendly group. the serotta guy suggested checking carefully for paint bubbles (he said this is a very bad sign), rust in/around the seatstays, chainstays, and rear dropout, checking carefully for cracks or hairline fractures in the frame, and--if possible--removing the bb and checking the bb shell for rust. otherwise, he said the seatpost could be a sign that either it was never greased when first assembled (or since), or sweat could have collected inside the seat tube and the salt caused seizure (but, probably the former, since the bike is only a year old).

thanks again!