If it sounds too good to be true

I just discovered yesterday, the new bike I was expecting to get next month (yes, the one I originally decided not to get, but then changed my mind because it was too good a deal to pass up), and which I already forked over $2,750 for, is no more.

The explanation is the financing for the new business fell through, and the partners in the business have parted ways. Tony, the principal promoter of the company and an ex-professional cyclist, claims all the money will be refunded by December 15th, and he is working on resurrecting the business in the near future.

I hope it works out for him, but I’m not going to hold my breath.  I’ll just be happy if I get my $2,750 back.

But in the mean time, not only am I out a new bike, I just sold my spare bike, and now don’t have a back up for emergencies, and replacing it is going to cost a lot more than $2,750. Plus I spent another $200 on a new set of wheels to replace the race wheels (which I was hoping to sell) the new bike was coming with. Fortunately I didn’t buy the stem, handle bar and saddle yet.

It just irks me so much. A $7,000 [retail] bike for $2,750.  I should have known better. It truly was ”too good to be true”. But the sales pitch was good, and the cycling club was behind it. What could go wrong?

Now I know how the victims of Bernie Madoff must have felt.