Originally Posted by dtv5403
Looking on Craigslist in my area, I found mopeds for different prices, a few going for over $1k, but also a few in the $400-500 range. Many people say a fair price is what the buyer and seller agree on. I entirely disagree. A fair price is what something is actually worth, if the buyer agreed to pay more that does not make it a fair price. The OP happens to agree with my assessment of the bike. And what the government does is irrelevant to this discussion. You are right that he isn't forcing anyone to buy it. But when you say "list it for 400", the sounds like instead of offering advice or an opinion, you're straight out telling him what to do, and he has already stated that he agrees 400 is not a fair price for that bike. Just because a bike is well put together and runs, does that automatically make it worth $400? Perhaps for a brand new bike and brand new kit, which this is not. I think some builders believe their labor to be worth more than it really is, especially for a simple project like a China girl cruiser. If we were talking about a fully custom bike that required a higher level of skill, the labor might be worth more. To my way of thinking, the more skill required, the more the labor is with. Its why a welder, for example, gets paid more than a McDonald's worker. If he did something like build his own wheels, use non standard parts or mod the engine internally, the labor would be worth more. He did not.
However........if I were hungry, an order of Mickey D's french fries would be worth more to me than having my widget welded.
Having worked in retail all my life, there is nothing more true than "the customers ultimately set the price for everything". We may guide the prices, but not really controll them. If I don't like the price, I just won't buy it.