In recent years superbikes have become a rage in India. What was earlier accessible to people who afford to go through the hassles of importing these exotic machines, has now been made easily accessible through a showroom near you. But prices of these bikes still remain higher due to the staggering import duties.
So is there a way you can buy these bikes easily and at a lower price?
Fortunately yes! There are many who would want to change their liter-class machine to experience the joy of swinging a leg over another one. So, existing owners look for buyers for their pre-owned machines. We tell you how you can get your hands on these smokin’ hot machines.
This is a Facebook closed group which was created for buyers and sellers of superbikes can interact for their bikes and their aftermarket parts and accessories. They have a set format to post ads on the page which includes important details disclosing if custom duties have been cleared or not, prior accidents if any, insurance validity etc. among other details.
Piyush Gaur, one of the moderators of the page, also helps you with information to guide you on how to calculate the depreciated price of these posh machines. “Second hand bikes are sold according to the value they were bought for in that particular year. The present value is not taken and the present model always has some changes compared to the older models. So I want every buyer to see the calculation and calculate the actual value of the bike and not waste your money by giving extra money to the sellers,” says Piyush.
Depreciation of theses bikes usually vary in the range of 10-15%. Which means that a 2010 model Suzuki Hayabusa, which costs about Rs. 14,30,000 back then, can be yours for about Rs. 9,15,000 now. Moreover, none of these bikes are punished or abused and have lesser kilometers logged on their odometers. This makes them an excellent second-hand option.
Various portals like ebay, olx, quickr etc have individual and dealer posts of such bikes. Many of them quote unbelievably low prices to tempt buyers into contacting them. Some of them may be credible but do watch out for imports via the grey market. These are illegally imported bikes which may not be registered or import duties may not have been paid. Stay away from these bikes as they can be impounded by the Directorate of Revenue Intelligence (DRI) at anytime. Always check for complete papers and service records if available.
The Directorate of Revenue Intelligence (DRI) is one of the agencies monitoring economic offences. DRI functions under the Central Board of Excise and Customs (CBEC) in the ministry of finance. They seize and impound unclaimed imported superbikes. MSTC Ltd., a Govt. of India Enterprise, then hosts e-auctions in which these bikes are sold at really low prices. To give you an idea, in 2011, a 2002 model Honda CBR 954 was auctioned for Rs. 3.8 lakh.
Most of these bikes are abandoned by their owners after being seized by DRI for evasion of customs duty. To participate in the customs e-auctions, which take place once a month, Rs. 5,000 has to be paid by a prospective bidder to register with MSTC Ltd. Inspection of the bike is allowed before bidding and the auction is open for four hours. The top bid is accepted if it is higher than the reserve price on the bike. One-fourth of the final cost is to be paid within three days of the auction and the rest has to be paid in five days.
It’s the best way to legally own a superbike at a fraction of its original cost.
DRI Information Source: livemint.com