Wednesday, June 27, 2012

26 Bromptons Bought by NParks At $2200/Bike

News of NParks purchasing 26 Brompton folding bikes at $2200 each has sparked an online furor. I'm shocked at the price of the folding bike when i first came across it. Besides the price the other controversy is only 1 bid submitted which as we know govt bids require at least 3 bids.

When i was young i see postmen delivering mail via their scooters. After the postal service is privatised & to max profits for govt coffers & shareholders, the scooters are pretty much gone & replaced with bicycles. NParks being still part of the govt has the since got budget to spend better spend now mentality else next year budget is gone. That is the answer given to me in my previous job when i question my superior the need to look for things to buy to spend the $$.

Netizens question NParks if is prudent to use taxpayers $ to buy such an expensive bicycle to patrol the park connector network. I'm worried about bike thefts since my previous road bike was stolen. Now that news of NParks bought expensive bicycles, more non-bikers know the price of those bikes making them even more vulnerable to thefts.

In HK the Brompton retails for around S$600 cheaper from comments that i read. Savvy buyers would travel to HK via budget airline, budget accomodation & eat for a short holiday. Sure beats paying for the killer rent of the bike price component in S'pore. Who cares much about warranty? Nowadays products are much well made compared to 70s, 80s & 90s.

Personally i find it hard to stomach spending savings of $2200 for this Brompton folding bike. I'll be missing 5% dividends/year & an easily achieveable 15% in capital gains should the $2200 be invested during recessions. When buying stuff using profits from investment it is not as heartaching.

With much of S'pore workforce having their wages stagnant & depressed by foreign labor in a high-cost of living country like S'pore, buying this $2200 folding bike is out reach of many. It is also a reason for the furor online.

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