Well, I kind of agree, except the "real price" eBay tells us is different every day. A couple of years ago I bought a very similar excellent condition, nearly all original "white" Raleigh Pro for (I checked the old eBay invoice just now) $356.01 plus shipping.
So what is the real price today may be double (or in this case four times) of what it was yesterday or half what it will be tomorrow.
Maybe there is no "real" price for any collectible except for what the most recent high bidder in the most recent auction was willing to pay for reasons that may have been as much emotional as rational.
I do agree classic bikes are often undervalued, but I kind of like them that way, especially when I am buying $356 Raleigh Pros.
Regards,
Jerry Moos
Tuscaloosa, Alabama, USA
> From: John Barron <john@velostuf.com>
\r?\n> Subject: Re: [CR] Amazing Price for 1970 Raleigh (White) Pro (Used
\r?\n> To: classicrendezvous@bikelist.org
\r?\n> Date: Sunday, February 28, 2010, 8:57 AM
\r?\n>
\r?\n> This auction is a great example of how eBay can tell us
\r?\n> almost exactly what the *real price* of something is-
\r?\n> If I counted correctly, there were 22 bids from 12 different
\r?\n> bidders. The progression of bid amounts was orderly, and all
\r?\n> of the last 10 bidders had a lot of eBay experience.
\r?\n>
\r?\n> I see plenty of posts on the CR list that seem to imply
\r?\n> that people are paying too much for items on eBay. Don's
\r?\n> post stops short of that, but he seems very surprised...
\r?\n> that's OK. Here's what I see:
\r?\n>
\r?\n> 1) Raleigh is one of the most popular marques ever
\r?\n> 2) The Professional was their top model
\r?\n> 3) Its size is smack-dab in the middle of a bell-shaped
\r?\n> curve
\r?\n> 4) Pretty much all of it's components were exactly what all
\r?\n> the professional racers were using at the time
\r?\n> 5) In particular, the rear der is special, and the wheelset
\r?\n> is really nice
\r?\n>
\r?\n> I have been messing around in this game for more than 15
\r?\n> years, and my opinion is that:
\r?\n>
\r?\n> a) For the last 10 or so years, in general, our beloved
\r?\n> high-end vintage racing bikes and parts have appreciated in
\r?\n> value faster than our savings accounts, mutual funds, and
\r?\n> homes. (I'm NOT saying that's good or bad -because most
\r?\n> people don't do this as an investment- I'm simply saying
\r?\n> that it's a reality)
\r?\n> b) I believe that these bikes are still undervalued (could
\r?\n> continue to get more expensive) because more and more people
\r?\n> are interested in things from the past, like pro-quality
\r?\n> bicycles that embody the romance and grit of, for example,
\r?\n> the Tour de France. Lance has raised the visibility of
\r?\n> bicycle racing and racing bicycles to the highest level ever
\r?\n> in america, if not the world.
\r?\n> c) There's a "flight to quality" whether people know
\r?\n> they're doing that or not. There's not a whole lot of
\r?\n> "quality" perceived in the US dollar right now... and
\r?\n> there's no practical reason to be holding Euros or Yen
\r?\n> either.
\r?\n>
\r?\n> Summary:
\r?\n>
\r?\n> * Sorry for sounding like a no-it-all junior economist
\r?\n> * I just work in a print shop
\r?\n> * If more and more people are as passionate as I am about
\r?\n> vintage bikes and parts, then it's predictable that prices
\r?\n> will go up over time...
\r?\n> * With some notable exceptions, I believe that eBay should
\r?\n> be viewed as the *actual* state of affairs (vis a vis
\r?\n> values), rather than a venue to see off-the-chart
\r?\n> transactions. (LIKE IT OR NOT, EBAY IS THE MARKET)
\r?\n>
\r?\n> I'm done, thanks for reading
\r?\n>
\r?\n> John Barron
\r?\n> Minneapolis MN USA
\r?\n> http://www.velostuf.com
\r?\n>
\r?\n>
\r?\n> Don Gillies wrote:
\r?\n>
\r?\n> Date: Sat, 27 Feb 2010 13:37:55 -0800
\r?\n> From: donald gillies <gillies@ece.ubc.ca>
\r?\n> Subject: [CR] Amazing Price for 1970 Raleigh (White) Pro
\r?\n> (Used)
\r?\n> To: <classicrendezvous@bikelist.org>
\r?\n> Message-ID: <20100227213755.4FA357EC6A@lvs1-r2.ece.ubc.ca>
\r?\n> Content-Type: text/plain
\r?\n>
\r?\n> Well, at least it was a happy valentine's day for SOMEONE
\r?\n> ...
\r?\n>
\r?\n> http://ebay.com/
\r?\n>
\r?\n> $1351 + $90 shipping. I think this is definitely a
\r?\n> record price for a
\r?\n> Raleigh that's NOT NIB/NOS (note that two NOS/NIB mid-70's
\r?\n> bikes were
\r?\n> sold in the $2000-$3000 range a few years ago on
\r?\n> ebay.) Wowie !!!
\r?\n>
\r?\n> - Don Gillies
\r?\n> San Diego, CA, USA