Drummondbikeslondon: Is this dude on crack?

yeah custom spray painted in his backyard!

i think he's an over optimistic individual. His stock is a dead loss me thinks at that price.
Raleigh at the best of times has a bad rep, but at that price i'd go and buy a "new" bike.

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he needs to lower the price tag by 50%.

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make that 80%

Isn't everyone being a little shortsighted? This is what BLB do with a bunch of their bikes - buy a phuk'd frame, respray, and fit with salvaged/bought for nowt components and pass on to suckers? This guy has seen what's happening and thought, 'so I'll under sell them for £100 and make a buck or two'. Good for him. The bikes aren't to my taste but there's obviously a market out there and he sure as hell is putting the time in. If people think the bikes really aren't worth what he or she is asking I'm sure there'll be a whole shit load of ebay buys rusting somewhere.

Did someone mention the slack chain on his 'smooth as butter' whip? No? Good, he got away with it.

That England bike's gonna be in high demand in the run up to Euro 2008 :s

I'm finding every single thing about this thread - and Drummond's bodge jobs - totally fuckin hilarious. Most posts are so worried / outraged and then you click again on the ebay pages (I had seen them already, trawling around for parts as you are wont to do) and the delboyness of them just cracks you up. Audacious stuff.. that world cup one is priceless (as reflected by the BIN). Then again, I've just been to easties and got drunk.

Ha! Ha! £345 etc.. guys judging by his fixed gear gallery post this dude has some weird hate "fixation" goin on...he's like the anti-fixed or something, everything we wouldn't want a fixed rider to be..

so funny........ let's not worry about it, let's just track it - cheap laughs, no? what can we really do? btw none of them have got a bid yet as far as I can see.....

come on, like one of the posts says above you don't have to buy them lets let overpaid idiots buy these bikes supply and demand if people are willing to pay the prices good luck to him he might as well put his prices up if people are paying what he's asking i'm sure he has a mortgage and one of those million pound bikes on order

but hey if there is a lynch mob a gathering count me in

'lets let overpaid idiots buy these bikes'

Dicki, i know there's humour in your post, but seriously, when people like this to sell at over-inflated prices other sellers will realise they could be making much more profit too and up their prices, before you know it everything costs a fortune, including the parts that you want ...

It's just greed - this is not the real cost or real worth of those bikes. I guess the economics of it are, that when prices do eventually get over-inflated, someone will undercut with cheaper parts ...

Didn't someone on this forum buy a heap of shit for about £10 and leave them with Dogsballs. Look at his location.

ARCHWAY, London, United Kingdom

Dale, is this you?

pfft, i have some standards!

That England bike's gonna be in high demand in the run up to Euro 2008 :s

As England failed to qualify for that as well... :P

my build on a cheap pug frame cost me 350....:( so is his prices really that bad??

As England failed to qualify for that as well... :P

Many thanks for explaining that joke for me - and doubtless countless others... :-(

my build on a cheap pug frame cost me 350....:( so is his prices really that bad??

how much you spent on a build does not equal how much its worth. I spent £200 on my pug and despite it being a lovely conversion I doubt it would fetch even that. You can get a brand new Fuji Track for just £70 extra...(for e.g)

that is true... my build is worth lot more (to me) than 350 but I guess it doesn't really worth shit on ebay....

Many thanks for explaining that joke for me - and doubtless countless others... :-(

My satire filter is a little bunged up today.

Good for him if he can make a few quid. As long as what he's selling isn't unfit for purpose or dangerous.

He's hardly Gordon Geckko...

Seems like he's applying the Foxtons marketing manual to bicycle sales . . . I originally thought is this guy so dumb as to not realise how ridiculous what he's doing is, but then again the golden rule of sales is that theres always someone dumb enough to pay those prices.

However posting them up on FGG, then using that they are on there as some sort of seal of quality is worthy of Delboy at his best.

I see nothing has so far attracted any bids - quelle surprise...

I guess... most intelligent people will come across this forum.. and we are not really doing any good for his business....

may be he should buy us all a pint and we write something nice??? ( you can tell i am dieing for a pint.. and it is not even lunch time yet...)

I waiting for the "I'm going to sue this forum" post from Mr/ Ms Drummond.

''This is a rebuilt bike and the tyres become second hand on riding away''

Proof of genetic link to the Trotter dynasty?

Read the link I posted. The more people choose not to buy (or to bid low), the fewer quality offers come to market (the bad drives out the good) and the less people are willing to buy.

Taken to an extreme, you can end up with an extremely illiquid market in which very little actually shifts. That's kinda what's happened in the credit markets, hence the 'crunch' - it's actually an immense illiquidity problem because nobody wants to lend against assets the worth of which they do not know.

My initial reaction to him is if he sells bikes, then more power to him. Then i read the stuff on lemon markets. I'm not buying it totally, but further down the article the argument is that a lemon market exists when:

• Asymmetry of information

• no buyers can accurately assess the value of a product through examination before sale is made

• all sellers can more accurately assess the value of a product prior to sale

• An incentive exists for the seller to pass off a low quality product as a higher quality one

• Sellers have no credible disclosure technology (sellers with a great car have no way to credibly disclose this to buyers)

• Deficiency of effective public quality assurances (by reputation or regulation)

• Deficiency of effective guarantees / warranties

For all of the above, it's is pretty easy to demonstrate that the nature of markets (note, not just free markets*) creates mechanisms to break these constraints. Think about seller feedback on ebay, or even this forum for example, debunking his tripe.

I suppose what I'm trying to say is that the market for second hand bikes doesn't have to be dragged down by this joker.

*what am I, a Chicago boy?

hang on a minute though, guys - haven't you seen that one of those bikes has a MULTIPOSITION seatpost? man that's worth some dollar.

my build on a cheap pug frame cost me 350....:( so is his prices really that bad??

I assumed you use decent compound and sometime ask a bike shop to do certain stuff for you like replacing the BB?

it cost me £200 to build up my Pug, and the bike shop did almost everything for me, building the rear wheel for a fixed wheel, replacing the BB, well that about it.

how much you spent on a build does not equal how much its worth. I spent £200 on my pug and despite it being a lovely conversion I doubt it would fetch even that. You can get a brand new Fuji Track for just £70 extra...(for e.g)

I sold it for £200 thought, I once started a topic asking how much my bike would fetch and the general respond is £180-200, so about that it'd fetch that much.

My initial reaction to him is if he sells bikes, then more power to him. Then i read the stuff on lemon markets. I'm not buying it totally, but further down the article the argument is that a lemon market exists when:

[*]Asymmetry of information

[]no buyers can accurately assess the value of a product through examination before sale is made
[]all sellers can more accurately assess the value of a product prior to sale

[]An incentive exists for the seller to pass off a low quality product as a higher quality one
[]Sellers have no credible disclosure technology (sellers with a great car have no way to credibly disclose this to buyers)
[*]Deficiency of effective public quality assurances (by reputation or regulation)
[*]Deficiency of effective guarantees / warranties

For all of the above, it's is pretty easy to demonstrate that the nature of markets (note, not just free markets*) creates mechanisms to break these constraints. Think about seller feedback on ebay, or even this forum for example, debunking his tripe.

I suppose what I'm trying to say is that the market for second hand bikes doesn't have to be dragged down by this joker.

*what am I, a Chicago boy?

You can't leave negative feedback because you don't like the product - there has to be something wrong with it, or with the seller's performance. It's still caveat emptor, which is there is still some information asymmetry.

People can refer to alternative sources of information (as, of course, they do with cars), but those other sources of information may have their own flaws.

But basically, what you're arguing is that it's possible to redress the asymmetry by gathering more information. But that's what people do with cars. That's why bike auctions have come down the branding of the frame/components, rather than the integral mechanical quality of the item. In the absence of specific information, you extrapolate from more generalised information.

The problem is, you can slightly improve the situation by gathering 3rd party information, but without taking the bike apart you can't tell for sure whether it's a lemon or not. Is the frame cracked? Has he covered over the rust? Have the BB threads been stripped? Is the seatpost or stem seized? Is it running a suicide hub?

You're not going to know any of those things until you get your hands on it. And then you'd be hard pressed to get restitution through ebay - because your own lack of knowledge is rarely sufficient grounds to rescind a contract. you'd need a serious structural flaw for that.