Thoughts wanted on possible stolen bike...

[grilla]

Hi all,

I saw this going cheap on ebay at short notice, and put in a bid on it, as it's not far from me, and seemed like a bargain, partly due to the bad listing.

I've since spoken to the seller asking him for more information about the bike. He seems to run a kind of cash converters set up, he doesn't have a clue about bikes himself, and sells whatever he has to hand. Alarm bells not quite ringing yet, but at least one eyebrow raised. Particularly as the address he provided isn't a retail shop, but what appears from google street view to be a residential street.

He assured me that anybody who brings things to sell him requires both photo id, and a utility bill with their current address, though beyond this assurance he wasn't able to provide any info on either who the original seller was, or why they were selling the bike. Which is fair enough, maybe.


I hate the idea of buying stolen goods, and something about the whole thing just doesn't quite feel right, or maybe I am jut being paranoid. I've checked all the obvious websites and forums for stolen bikes, and this isn't anywhere to be seen, which is encouraging at least.

This is the bike.

http://www.ebay.co.uk/itm/251091456729? ... 500wt_1202

Any thoughts would be greatly welcomed.

Thanks a lot

 

[Tel]

Did you buy it?

Thing is if the owner brought the bike used about 10 years ago chances are he got it for peanuts, even if he paid £500 for it he would have naively been happy with £100 from cashconverters 10 years later. Some people just don't look into these things thats how bargains are to be had.

Sometimes you can only take things at face value.

 

[grilla]

Hey Tel,

Yeah I bought it, on a bit of a whim really, but with the idea of using it as a winter trainer and commuter, as I've always heard good things about them, and it seemed a good price, given a bit of TLC.

What do you think? Am I going to be cursed for eternity?

 

[Tel]

I would have brought it....(tried to actually )

You will only be cursed for using it as a winter trainer rather than Sunday best!

 

[Tel]

Sold this one for £650 a year or so ago. Albeit it was practically NOS and absolutely beautiful!

 

[grilla]

Yeah I remember seeing that, it's a beauty.

 

[rocky ridge]

how does anyone who buys secondhand really know if the items been pinched

could you not see if the police have any reports if you gave them the frame number

 

[grilla]

I suppose, but then I will have already been down there and paid cash, and I can't imagine police being particularly helpful, no offence to any constabulary on here of course...

 

[jet sanchez]

If he is running a pawn shop of sorts, he is likely required by law to see some i.d. from the seller so, if the bike turns out to be stolen, you have recourse there.

Nice bike, ride the heck out of it, it looks like it has been sitting for ages and needs a good ride.

 

[Lazarus]

Hi "Confession time" I use Cashconverters because sometimes my kids need to eat, it's that simple. They only ever offer about 20-25% of anythings value and bikes are something they know little about. You deposit your goods at GREAT risk. Fail to turn up 28days later and its gone, it belongs to them, end of discussion as far as they are concerned. It's what they do, "exploit vulnerable people as much as they can".

I'm lucky, I know my shop guys and they look after me when I'm late, but I daren't push it. 2 of my bikes are there now, each worth £700-£1000, I borrowed £130. If I can't pay up they are gone. The owner takes the risk that he can get back to them. Rather the risk than a sale and lose them ...... until you fail to cough up, then you cry buckets. Such is life I'm afraid at the thinest end of lifes wedge, you get used to it ('ish).

They have been there 5 months. I pay £85 p/m just to save them. I borrowed £130ea on them over 2 seperate periods. I've paid £425 in interest over 5 months and still owe £350 to get them both back. Yes it's crap, but better this than A) lose them OR B) go hungry for 5 days.

So my friend, the odds are the story is completely true from what you describe, and the seller is a genuine cashconverter workperson. After its gone its gone, the buyer then owns the bike. Remember this "cashconverters know very little about bikes and only ever offer 25% at best = £1000 bike gets valued at £400 = £100 to the person who hocks it. It is very sad, but what can anyone do ? Hope this helps, not only this thread, but helps others understand why so many top end bikes are going sooo cheap, it's because there is a recession and it hits hard down the thin end, where £10 becomes a meal to keep you going until the next payday/benefits day. All the best, yours Laz.

PS: As ever Tel "your bikes are stunning" I watched 1 of yours go a while back that made me ill that I never had the money (about £250 I think) God is was good Later buddy, Laz.