$500 for a Bicycle

The Freakonomics blog has a great post on the cost of bicycles in bicycle-crazy Portland:

Yeah, the bike guy answered, he had something super-cheap for me ... I could have it, he said, for $475.

So I went to another store. Same deal, more or less. There was one bike for $275, but it was a girl’s Raleigh from the 1960’s with a wicker basket.

...

At Portland’s Costco, meanwhile — on the outskirts of the city — you can buy a brand-new Schwinn Midtown city bike with Shimano shifters for around $200. But, according to the clerk there, those Schwinns aren’t moving.

I bought an inexpensive, new bicycle in Delft for just over $500, though the university reimbursed most of the cost through a travel program. I was expecting to find a nice, new one for around $250.

We don't have CostCo here, and sadly Ikea doesn't sell bicycles. I'll just keep dreaming.