According to Forbes, the most expensive bike was the one used by Lance Armstrong,the world’s only seven-time Tour winner. The bike dubbed as “Trek Madone” road bike is a carbon fiber cycle and was designed by artist Damien Hirst. The bike is adornRoad bikeed with hundreds of real, shimmering butterfly wings clear-coated to the frame. The “Butterfly” Madone was sold to an anonymous bidder for $500,000 during a Sotheby’s cancer benefit auction.

Buying the perfect road bike is a tough job for a dedicated biker. Performance, durability and comfort are always the top considerations in the choice of road bikes. These considerations usually come with a price tag. For example, if a biker wants a ride that more or least should last longer despite the frequency of use and the kind of terrain the bike is subjected to, he will consider the materials of the different bike components.

So what basically dictates the price of a bike? Normally the material used in constructing the bike components dictates the pricing. Here are some illustrative examples.

  • Frame- the price for the frame of the bike will depend on the material of construction. You can choose from aluminium, carbon or titanium. Most bikers would go for light materials because the weight of the bike is an important factor in its performance and convenience. Aluminum and carbon are top choices for it is lightweight. Unfortunately these materials may not be that long lasting when compared to a frame that is made from titanium. Full carbon fiber frame bike that’s well equipped and ready to roll is about $1,800, with quality wheels and something like Shimano- 105 parts. Expect titanium frames to be priced higher. For those who desires durability for the longest time would invest in a titanium frame.
  • Derailleurs (shifters)- For a price of $5000, you can get a Shimano’s Di2 electronic shifting system which a battery-powered transmission.  It is touted to allow cyclists to shift from any position and automatically adjusts derailleurs to prevent rubbing. This system was made available in 2007 and was reported to be used by teams such as HTC Columbia and Garmin Transitions.
  • Wheels – Shimano’s Dura Ace C-35 wheels are a great piece of equipment, both lightweight and durable, and will instantly make all but the very highest performance bikes better, but just the two wheels cost $2,200.

There are accessories, technologies and other components that you can add to your bike to make it truly a great bike that is uniquely yours and as an outlet for self-expression. The more you add the more the bike would command a higher investment or expenditure.

Some bikers would buy bikes already assembled but others go for customized design since they wanted to incorporate components for maximum performance, ease of use and durability.

So what can you do if after having a very substantial investment on a bike, it gets totaled after an accident with a car? Christensen & Hymas  says you get the appropriate insurance first to cover this possibility. Protect your investment in advance. Check what insurance companies can offer for protecting your investment. This is especially true when the bike is more costly that your car.

Also bicycles are no match to other vehicles during collisions. Despite the risks many companies are making some attempts to cater to the high-end bicycle owner. Perhaps the best example of this is Clipp Inc. Clipp is a bicycle company that noticed the need for more specific bicycle insurance coverage. The standard insurance plan costs $99 per year which guarantees $1,000 of accident medical coverage per occurrence, $1,000 of property damage per occurrence (after a $500 deductible), $1,000 of theft coverage and $25,000 of accidental death coverage. If more coverage is desired then it can be increased by $1,000 for every additional $15 the customer adds onto the yearly fee.

For more information on bicycle insurance, read this article.

Photo courtesy of Wikimedia.