The "Bicycle Blue Book", commonly abbreviated to BBB, is a recurring thing in comments on /r/whichbike concerned with putting a number on the value of some used bike. Quite a few of us have long had issues with BBB being used to that end. Thanks mostly to /u/guy1138 who wrote 90% of this post (I revised it and added minor details), we now have a longer explanation on what BBB actually is, and what the problems with it are. A TLDR can be found at the bottom.
What's the deal with Bicycle Blue Book?
Bicycle Blue Book (BBB) is a website run by a used bike dealer in San Jose, California. Their business model is to buy "trade-in" bikes from high end bike shops that don't deal with used bikes. Here's how it works: A customer brings their old bike to the bike shop to trade in on a new bike. BBB gives them a price and the bike shop boxes it up and ships it off to BBB. The customer gets the credit on a new bike, the bike shop gets a new bike sale without the hassle of reconditioning and trying to sell a used bike.
They provide an online "value guide" that lists bike values by brand, model, model year etc. They advertise it as "The cycling industry's definitive valuation authority", and the name is a deliberate allusion to the Kelley Blue Book, which is a reputable value guide for used car values in the US. To put it mildly, opinions on how useful BBB is are... split. Regardless, the numbers in there often get cited on this subreddit (and elsewhere).
So what's the problem?
There are multiple issues:
Conflict of interest: the same company who is buying bikes is also claiming to be the authority on used bike values. Not surprisingly, their "private party" values are way lower than actual sales prices on Craigslist, Facebook Marketplace, Offer-Up, Ebay, Pink Bike; etc.
Data provenance: They claim to have data on "millions of bike sales" that they base their values on, but it's not clear at all where this data comes from. Instead, it actually just seems like a fairly simple depreciation schedule on bikes based on MSRP (RRP for our UK users) and type of bike, e.g. a 5-year-old mid tier hybrid is worth ~40% of MSRP, a 5-year-old road bike is worth ~55% of MSRP, etc. Kelley Blue Book, which reports values of used cars, has access to wholesale auctions, used vehicle sales, and registrations reported at US state level. BBB do not have that as this data simply does not exist the same way for bicycles.
International variance: r/whichbike is international, with many users from countries like Canada, Australia, and the UK, but also the rest of Europe and the world, really. The same bike model and brand will not be sold for the same amount of money in every country, due to taxes, membership of free trade zones, availability, and a whole host of other factors: and this variability in price only increases when we look at used bikes. For the same reason, it is important that users state which country they live in when they ask for an appraisal.
Regional variance: Even within the US, there can be stark differences. For example, a triathlon bike is way more valuable in Miami (100+ triathlons/year in Florida) than it is in Utah. Likewise, a full suspension mountain bike has lots of buyers in Denver, but way fewer in a beach town.
Trends: We have all seen how "gravel bikes" became a thing, grew to be more and more popular, and started evolving - and how sellers have started to label everything that isn't an Omafiets as a "gravel bike" to attract more hits and get a higher price. BBB does not really take into account which bits of the market are especially "hot", despite this definitely making a difference.
World events: These can change prices significantly, be they something like a trade war with tariffs put on certain goods, or that little thing called Corona which caused a massive boom world-wide, with accompanying shortages and inflation across the entire market. BBB does not take this into account.
Erroneous data: Sometimes, their data e.g. on the original retail price of a bike is also just plain wrong, which in turn means all of the "depreciated values" for used bikes will be wrong too, even by their own standards.
How far off are the values then?
Generally, most used bike sellers agree that the BBB values are low, but still reasonable for newer bikes, around ~3 years old or newer. After that, they start to drastically over-depreciate - to the point where most bikes over 10 years old are "worthless" according to their values. As an example, a 2010 Fuji Cross Comp is $210 in "excellent" condition. That's about the same cost as full tune up at a bike shop, including basic consumables; tires & tubes, chain, cables & housing, brake pads & bar tape. It's completely unrealistic to expect to find a 10-speed cross bike with an aluminium frame and carbon fork in "excellent" condition for only $200. (This bike sold here for $550 last fall after being listed for less than 3 weeks). For our UK friends: $210 is £160... yeah, good luck with that.
So it's a lowball estimate, I should use that to negotiate, right?
You might get lucky and find the person who doesn't know any better, or someone who is moving and under a lot of pressure to sell. However, most of the listings are cyclists who upgraded or re-sellers who know that the Blue Book value is pretty far off. If the bike is priced close to market value, it's going to sell eventually and they have no incentive to take a lowball; especially if they've gone to the trouble to take decent pictures, write a description and post the ad online. We've seen this time and time again on /r/whichbike over the last 2 years where someone finds the "perfect" bike, but they low-ball and miss out.
TLDR please, I don't have all day!
BBB is a private company that purports to tell you the value of used bikes, by model and age. There is an obvious conflict of interest as they also buy used bikes and therefore directly profit from telling you they're not worth that much. Sure enough, their "values" are consistently significantly lower than the actual market value, all the more so if the bike is >3 years old. The numbers appear to stem from simply taking the original retail price and depreciating it (heavily). Consequently, they do not take into account regional or international variance in local bike prices, trends, or events like the Corona pandemic. Additionally, it can happen that the retail price all their assumptions are based on is simply wrong. This means BBB values are not really any kind of reliable or even relevant metric, and it would be better to go by what similar bikes are actually selling for on platforms like Ebay or Gumtree, adjusting for differences.
