Reverse Bicycle Auction has Buffalo Cyclists Talking - 250 Bikes Being Auctioned

Buffalo-based Tom's Pro Bike kicked off a seven week reverse auction today. Instead of participants bidding up the price, Tom's reduces the price each Friday until sold.The trick is to decide when to buy. Wait for better price or risk of losing out.
 
 
Reverse Auction shows partial listing of Specialized bikes
Reverse Auction shows partial listing of Specialized bikes
BUFFALO, N.Y. - Aug. 29, 2014 - PRLog -- You have been dreaming about owning a Specialized Roubaix Expert, but the $3900 price tag has been just a bit out of reach.  Even when Tom’s Pro Bike in Buffalo puts your dream bike on sale at $2950 you can’t quite hand over the debit card.

Or maybe your sights have been set on a Cervelo P5 or a Specialized Venge. Or you are really going for the gusto and have been eyeing the Guru Photon Campy SR w/ Campy Vento at $12,500.

Here is your golden opportunity. Starting today you can own the Roubaix for $2655.  Still too much? Wait a week! That’s right! Next week the price will drop by another 5% to just $2507.

You would be right if you were worried there was a catch. So here is the catch. Somebody might buy this bike out from under you during this week at that already astonishingly low price of $2655. And now you understand why what Tom’s Pro Bike of Buffalo is doing right now is called a reverse auction.

You see, Tom’s Pro Bike sells a lot of bicycles. In order to sell a lot of bikes, you need to inventory a huge number. Sometimes you buy too many. Sometimes you buy WAY too many! According to Tom Lonzi, owner of Tom’s Pro Bike, “We bought way too many!”

Lonzi says that the shop ended up with 250 bikes that need new homes right now. “We need to move these bikes to make room for the 2015’s and the reverse auction idea seemed like a really fun way to do that. In some cases we expect folks to save 50% or more on these bikes.”

We asked Tom for a better understanding of how the reverse auction works.

“We have a list of all 250 bikes that is available right in the front of the store and also on our website at http://TomsProBike.com and our blog.  The list shows the basic details of the make, model, and size, and gives the original manufacturer’s suggested retail price (MSRP). The chart also shows what the price drop will be each week for the next 6 weeks. The Roubaix will eventually sell for $1770 on October 10 - IF it is still unsold.”

The trick on a reverse auction is to figure out what other potential buyers are going to do. If you wait too long and get too greedy, you miss out entirely.”

The shop also set up a way for customers to place a future bid. “Instead of checking back every day or every hour, you can just make a bid for some future price, and then forget about it. The price of that Roubaix will be $2360 on September 12. You can place your bid by email, phone, or in the shop, and if you are the first to bid for that bike at that price, your $100 deposit will hold your spot.”

If the bike gets sold before that, you get your deposit back. If you win the bid, we call you and you come in to complete the purchase. Of course, if you choose not to buy the bike, you lose the deposit.”

It will come as no surprise that with 250 bikes to sell in this reverse auction, there is a huge variety to choose from including: racing, cyclocross, hybrids, triathlon, women’s specific, fitness, and more.  Brands include: Cervelo, Co-Motion, Colnago, Felt, Fuji, Gunnar, Guru, Litespeed, Lynksey, Quintana Roo, S-Works, Specialized.

Tom’s Pro Bike has been a fixture of the Buffalo cycling scene since all the way last century. Located at 3687 Walden Avenue Lancaster, New York, the company is known for being involved in all aspects of the local enthusiasts community.  For more information on the reverse auction, call (716) 651-9995.

Media Contact
Randy Kirk
***@gmail.com
310-910-1848
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Location:Buffalo - New York - United States
Subject:Deals
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Page Updated Last on: Aug 29, 2014
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