Used bikes are expensive. Even beaters.

Unless you buy bikes from unknowing sellers in a yard sale, or someone who needs money FAST (in which case I'd be worried about buying a stolen bike), they're usually expensive. I was until yesterday in the market for a pair of beater bikes just to go around Montreal (I now live in Vancouver and don't have a used bike here), commuting, going out for ice cream, etc. I was shopping with my boyfriend, who sports an expensive full-carbon bike in normal times, and he was SHOCKED by the sticker price. We went to bike shops and to bike-recycling stores so the bikes were in full working order (derailleur and brakes repaired and fully functional). I ended up bargainning pretty hard to get a pair for $150, and they're really old (yet not antique) and not in very good shape (although by the time I pick them up later today they should run fine). But they'll take us places. That's all I want right now.

Generally, I think bikes keep most of their value with time. I'm okay with that, I think they are great objects and if they can be repaired to work perfectly... why would they become so much cheaper with time?