Here's the thing about $2,000 in 2026: it's become the most interesting price in road cycling, and almost nobody shopping it knows why. That number sits right on the seam between two Shimano groupsets. Below roughly $1,800 you're getting Shimano CUES 10-speed. Right at the ceiling, $1,870 to $2,100, you finally get genuine Shimano 105 12-speed. This guide names the actual 2026 bikes that land real 105, hydraulic disc brakes and modern wide-clearance geometry inside budget, with live prices captured in June 2026. More to the point, it tells you where your money buys 105 and where you're better off keeping it in your pocket.

Key takeaways

- Real Shimano 105 12-speed now starts at about $1,870 (Giant Contend AR 1) and tops out near $2,100 (Trek Domane AL 5 Gen 4). Below ~$1,800 you get Shimano CUES 10-speed instead.

- CUES is not a downgrade trap. It's durable, comes with hydraulic discs, and is geared low for hills. When 105 isn't essential, it's the smart-money pick.

- Frame material is not the headline. Aluminium-with-carbon-fork is genuinely good at this price. Fit, brakes, gearing and tyre clearance matter more than the badge on the down tube.

- Tyre clearance has ballooned to 32–40mm, blurring the line between endurance road and light gravel.

- A discounted 2025 105 bike can beat a stripped-back 2026 build. Buy the spec and the fit, not the model year.

The $2,000 frontier: why this price point matters more than ever

A few years ago, $2,000 bought you a lot of Shimano 105. In 2026 it buys just enough, and getting your head around that shift is most of the battle. The cause is a Shimano groupset reshuffle. The current 105 R7100/R7120 mechanical group is 12-speed and hydraulic-disc-only, and complete bikes built around it now sit firmly at the top of the budget bracket instead of comfortably inside it.

Bicycling's June 2026 testing roundup puts it plainly: bikes in the $1,200 to $2,000 band now reliably ship with aluminium frames, hydraulic disc brakes, and 10-speed CUES- or Tiagra-class drivetrains. True Shimano 105 12-speed machines have drifted up to the very edge of the budget. They don't live in the middle of it anymore. That one fact reframes the whole shopping trip.

So the question isn't "which sub-$2,000 bike has 105?" as if 105 were sitting on every shelf. The real question is sharper: do you stretch to the ceiling for 105, or bank the savings and ride CUES? Both answers hold up. This guide is built around that fork in the road because it's the one that actually decides what you ride home on.

Here's the tension in a sentence. At $1,500–$1,800 you get CUES 10-speed on a well-sorted endurance frame: Cannondale Synapse 2 at $1,799, Specialized Allez at $1,600, Canyon Endurace AllRoad at $1,499. Want genuine 105 12-speed? Now you're spending right up to $1,870–$2,100 (Giant Contend AR 1, Trek Domane AL 5 Gen 4), and the carbon-framed 105 options like the Van Rysel NCR CF 105 and Boardman SLR 9.0 sit at that same ceiling.

Who this guide is for: value-driven buyers shopping the most popular price bracket in the sport. Riders who want to spend on purpose, not get upsold. You'll get named 2026 picks, real prices in USD, GBP and EUR, and enough groupset literacy to read a spec sheet yourself. No jargon left undefined, and no recommendation without a reason behind it.

What's new in 2026 (the changes that move the needle)

The biggest single development is that Shimano 105 R7100 mechanical, Shimano's first-ever 12-speed mechanical road groupset, is now the established top of the cable-shifting road range. Dura-Ace and Ultegra have both gone electronic-only at 12-speed, which leaves mechanical 105 as the last serious cable-shifting option, and that's not likely to change anytime soon. If you value the simplicity of a cable you can fix at the roadside, this is the group to care about.

A few hard numbers explain why the math has changed. The complete 105 R7100 mechanical groupset carries an RRP of roughly $1,190 / £990 / €1,180, which is about $700 / £740 / €690 cheaper than 105 Di2 (that one runs near $1,890 / £1,730 / €1,869). The clever part: mechanical 105 shares all of its non-shifting parts with 105 Di2. Same chain, same cassette, same crankset, same brake calipers and rotors. Only the derailleurs, shifters and brake levers differ. A full mechanical groupset weighs a claimed 2,845g.

The second big shift happened at the bottom of the range. Shimano CUES (the U6000 class, typically 10-speed) has moved up to fill the sub-$1,800 tier, replacing the old Sora/Tiagra-class parts. CUES uses LINKGLIDE technology for durability and pairs a wide 11-39 cassette with 46/32 or 34/50 cranks. You'll find it on the Cannondale Synapse 2, Specialized Allez and Canyon Endurace AllRoad, and it's a genuine step up in robustness over what this money used to buy.

Third, a handful of standards are quietly becoming default:

• UDH (Universal Derailleur Hanger) is now standard on mainstream alloy road frames like the Trek Domane AL 5 and the new Cannondale Synapse, which future-proofs them for direct-mount drivetrains.
• Tyre clearance has grown sharply. The Canyon Endurace AllRoad swallows a class-leading 40mm; the Trek Domane AL 5 and Giant Contend AR 1 both take 38mm. Stock tyres of 30–32mm are now normal where 25–28mm was standard a few years back.
• Tubeless-ready wheels are standard at this price. Bontrager Paradigm SL, Giant P-R2 and DT Swiss R470 DB are all tubeless-ready, though stock tyres are sometimes still wire-bead and the tubeless valves aren't always in the box.
• Hidden fender, rack and top-tube mounts now show up even on race-leaning alloy frames, which keeps smearing the line between endurance road and light gravel.

So what does this mean for a $2,000 budget right now? The floor of quality has risen. Even the cheapest bikes here have hydraulic discs, durable drivetrains and real clearance. The upgrade you're paying for at the ceiling isn't basic competence anymore. It's the extra gears, the lighter shifting feel, and the resale-friendly badge of 105 12-speed.

How much bike $2,000 actually buys in 2026

Picture the sub-$2,000 market as three clear price bands. Knowing which band you're shopping in tells you, before you read a single spec sheet, roughly what drivetrain and finishing kit to expect. Here's the map. The named picks come next.

Band 1 — around $1,500: maximum capability, CUES drivetrain. This is where the Canyon Endurace AllRoad ($1,499) lives. You get an aluminium frame, full carbon fork, a 100% Shimano CUES 2x10 drivetrain with an 11-39 cassette, hydraulic discs, and a class-leading 40mm tyre clearance with fender, rack and top-tube mounts. The trade-off is the 10-speed drivetrain and a slightly heavier build. The versatility, though, is unmatched in this guide.

Band 2 — $1,600 to $1,800: nicer frames and wheels, still CUES. The Specialized Allez ($1,600) and Cannondale Synapse 2 ($1,799) sit here. Your extra money goes toward better frame engineering, finishing kit and wheels (the Synapse 2 rolls on tubeless-compatible DT Swiss R470 DB wheels) rather than a jump up to 105. Geometry leans endurance-comfortable, with mounts for fenders and racks.

Band 3 — $1,870 to $2,100: genuine Shimano 105 12-speed. This is the ceiling, and it's where 105 finally shows up. The Giant Contend AR 1 ($1,870) is the cheapest way in; the Trek Domane AL 5 Gen 4 ($2,099) sits at the top. Carbon-framed 105 bikes live here too: the Van Rysel NCR CF 105 (£2,000 / €2,199, often discounted) and the Boardman SLR 9.0 Carbon (£1,800), trading wheel and finishing spend for a carbon frameset.

The one line worth screenshotting: under ~$1,800 you're buying CUES 10-speed on a good frame; at $1,870 and up you're buying genuine 105 12-speed. There's almost nothing in between, so figure out which side of the line your priorities fall on before you start comparing models.

Quick self-check — which band is yours?

1. Do you need the lowest gears for hills, loaded riding or rough roads? Band 1 (Endurace AllRoad, 11-39) or Band 3 (Contend AR 1, 11-36) give you the widest range.
2. Is the 105 badge important for resale, future upgrades, or how the bike feels under hard shifting? Go Band 3.
3. Do you want the most frame, wheels and comfort per dollar and don't much care about the 11th and 12th sprockets? Band 2 is your value sweet spot.

The best road bikes under $2,000 in 2026 (named picks)

Here are the bikes worth your shortlist, each with a clear verdict so you're not left staring at a flat list wondering which one to click. Prices are 2026 model-year listings captured in June 2026; specs can vary by region and trim, so confirm at purchase.

Trek Domane AL 5 Gen 4 — best 105 pick overall ($2,099 / £1,600)

The benchmark. A 100 Series Alpha Aluminum frame with a Domane AL carbon fork, dressed in a full Shimano 105 R7100/R7120 12-speed mechanical group, 105 hydraulic disc brakes, a 50/34 crank and 11-34 cassette. It rolls on tubeless-ready Bontrager Paradigm SL wheels with 700x32mm tyres, takes up to 38mm rubber, and uses a UDH dropout for future-proofing, all at a claimed 9.85 kg (21.72 lb). If you want the most complete, no-compromises 105 endurance bike and you can hit the ceiling, this is it.

Giant Contend AR 1 — best 105 value ($1,870 / €1,799)

The smart buy. Marked down from an original $2,200 to $1,870, it delivers genuine 105 12-speed (ST-R7120 shifters, R7100 derailleurs) under budget, and pairs it with a wider, hill-friendlier 11-36 cassette plus a full carbon Advanced-grade fork. Add 105 hydraulic discs, tubeless Giant P-R2 wheels, 38mm clearance and fender mounts, and it's the best dollar-for-dollar way into real 105 in 2026.

Van Rysel NCR CF 105 12S — best carbon at the ceiling (£2,000 / €2,199)

Decathlon's value weapon. A full carbon frame and fork with Shimano 105 12-speed, hydraulic discs and Fulcrum Racing 700DB wheels at about 9 kg (size M). It's listed at £2,000 / €2,199.99, but it drops to ~£1,599.99 / €1,599 often enough that you should wait for it. At that price it's almost unbeatable: full carbon and full 105 for what an alloy CUES bike costs elsewhere.

Boardman SLR 9.0 Carbon — fastest under £2k in the UK (£1,800)

road.cc calls this carbon-framed, 105-equipped machine the fastest bike under £2k and part of Boardman's new "four-season fast" range. For UK riders who want outright speed and a carbon frameset over wheel spend, it's the pick.

Cannondale Synapse 2 — best value if 105 isn't essential ($1,799)

The sensible all-rounder. A SmartForm C2 Alloy frame and Synapse Carbon fork with Shimano CUES U6000 2x10, a low-geared 46/32 crank and 11-39 cassette, CUES hydraulic discs, and tubeless-compatible DT Swiss R470 DB wheels. Seven sizes (44–61cm), hidden rack/fender mounts and SmartSense compatibility make it the comfort-and-versatility champion for riders who don't need the 105 badge.

Canyon Endurace AllRoad — best clearance, cheapest complete ($1,499)

The capability king. The cheapest complete bike here still brings a 100% Shimano CUES drivetrain (11-39), hydraulic discs, tubeless-ready rims, 35mm Schwalbe tyres, a class-leading 40mm tyre clearance, fender/rack/top-tube mounts, and a 6-year frame warranty. If you want one bike for commuting, light gravel and weekend road miles, start here.

Shimano 105 vs CUES vs Tiagra: what your groupset actually means

The groupset is the spec line that decides how your bike shifts, how many gears you get, and how much it's worth in three years, so it pays to decode it properly. In 2026 you'll meet three tiers under $2,000, and the differences between them are real but widely misunderstood.

A few details change how you read a spec sheet. First, 105 R7100 mechanical is hydraulic-disc-only. Shimano makes no rim-brake and no cable-disc version, exactly as with 105 Di2. So if a bike claims "105," it has hydraulic discs by definition. Second, the R7100 suffix denotes the derailleurs, crank and cassette, while R7120 denotes the mechanical disc shifter/lever set. Both belong to the same group, so don't read "R7120" as some different or lesser thing. Third, 105 gearing options are 50/34 or 52/36 cranks with 11-34 or 11-36 cassettes, and it works with existing 11-speed HG freehub bodies, which makes upgrading easier.

CUES deserves more respect than its price implies. Its LINKGLIDE construction is built for durability, the wide 11-39 cassette gives you lower climbing gears than most 105 setups, and it shifts cleanly. The honest trade versus 105 is two fewer sprockets, a slightly less refined lever feel, and a less prestigious badge. Not a meaningful drop in everyday function.

Decision rule — when to stretch for 105, when to take CUES:

• Stretch for 105 if you ride fast group rides where tight gear steps matter, you plan to keep the bike many years and care about resale, or you simply want the shifting feel enthusiasts rave about. The Giant Contend AR 1 ($1,870) is the lowest-cost entry.
• Take CUES if your priorities are durability, low gears for hills or loads, and stretching the budget toward a better frame, wheels or clearance. The Synapse 2 and Endurace AllRoad spend your money on the parts you'll feel every ride.
• Avoid stretching for 105 if doing so forces you onto a worse-fitting frame or a smaller size than ideal. Fit beats groupset every time.

Aluminium vs carbon at this price (and why the frame isn't the headline)

The frame badge is the spec buyers fixate on and, at this budget, the one that matters least. Under $2,000, aluminium with a carbon fork is the norm, and it's genuinely good. Modern hydroformed alloy frames like Trek's 100 Series Alpha, Giant's ALUXX and Cannondale's SmartForm are stiff, comfortable and light enough that most riders won't feel held back by them.

Carbon does exist at the ceiling. The Van Rysel NCR CF 105 and Boardman SLR 9.0 Carbon both offer full carbon framesets around £1,800–£2,000. But here's the catch. To hit that price with carbon, builders usually economise elsewhere, normally on wheels and finishing kit. So the carbon bike and the alloy bike at the same price are often closer in real-world performance than the headline material suggests.

The principle worth internalising: at this price, fit, brakes, gearing and tyre clearance decide the ride far more than frame material does. A well-fitting alloy bike with 105 and 38mm clearance will out-ride a carbon bike that's the wrong size or hung with budget wheels, every single time. Material is a tie-breaker, not a deciding factor.

Scenario — two riders, same $2,000:

• Rider A wants the most refined drivetrain and plans to ride hard with a club. They take the alloy Trek Domane AL 5 for its full 105 12-speed and proven endurance geometry, and they don't lose a wink of sleep over the aluminium.
• Rider B in the UK wants the lightest, liveliest frame and is happy to upgrade wheels later. They take the carbon Boardman SLR 9.0 or a discounted Van Rysel NCR CF 105, treating the stock wheels as a starting point.

Both spent wisely, because both led with their actual priority instead of the material on the down tube.

Frame-material checklist before you decide:

1. Does the size you need actually fit you well? (Non-negotiable; check stack and reach, not just frame size.)
2. Is the groupset the tier you want? Don't trade 105 for carbon if 105 is your goal.
3. What are the wheels? A carbon frame on heavy wheels is a worse ride than alloy on good ones.
4. Is there clearance and are there mounts for how you'll really use the bike?
5. Only after all of the above: alloy or carbon?

Brakes, tyres and geometry: the details that decide the ride

Beyond the groupset and frame, three details quietly determine whether you love a bike: its brakes, its tyre clearance, and its geometry. The good news is the 2026 baseline is high. The better news is that knowing what to look for lets you match a bike to how you actually ride.

Hydraulic disc brakes are now standard, and they're worth it. At this price you should expect nothing less, and with 105 you have no choice anyway, since the group is hydraulic-only. The current 105 BR-7170 calipers offer 10% more rotor clearance than the previous generation, which reduces rub, and lever reach has been shortened to suit smaller hands, a real comfort gain for a lot of riders. Hydraulic discs give you consistent, modulated stopping power in the wet and on long descents that rim brakes simply can't match.

Tyre clearance is the spec that quietly transforms a bike. The range under $2,000 has ballooned: 40mm on the Canyon Endurace AllRoad, 38mm on the Trek Domane AL 5 and Giant Contend AR 1, 35mm on the Specialized Allez and Van Rysel NCR CF, 32mm on the Cannondale Synapse 2. More clearance unlocks lower pressures and bigger tyres for comfort, the headroom to tackle gravel and broken pavement, and space for full fenders in winter. If you want one do-everything bike, clearance is the number to chase.

One note on wheels and tyres. Tubeless-ready wheels are standard now (Bontrager Paradigm SL, Giant P-R2, DT Swiss R470 DB), but stock tyres are sometimes still wire-bead and the tubeless valves aren't always included. Budget a little extra to set the wheels up tubeless if you want the comfort and puncture protection. It's one of the best-value upgrades you can make.

A word on geometry, endurance versus race. Most bikes here lean endurance: a slightly taller front end and longer wheelbase for all-day comfort (Domane, Synapse, Endurace, Contend AR). A few, like the Boardman SLR, lean racier for outright speed. And UDH dropouts on frames like the Domane AL 5 and new Synapse future-proof you for direct-mount drivetrains down the road.

Spec-reading checklist for any bike on your shortlist:

• [ ] Hydraulic discs confirmed (a given on 105; verify on CUES builds)?
• [ ] Tyre clearance matches your use (≥35mm if you want all-road/fenders)?
• [ ] Wheels tubeless-ready, and are valves included?
• [ ] Geometry (endurance vs race) suits your riding and flexibility?
• [ ] UDH or replaceable hanger for future drivetrain options?
• [ ] Mounts for fenders/racks if you'll commute or tour?

2025 clearance vs 2026 new: how to actually buy

The smartest buyers in 2026 aren't just choosing between models. They're choosing between model years. A discounted 2025 bike and a full-price 2026 bike can sit at the same price with very different specs, and the right call isn't automatic.

The core logic is simple: spec and fit beat model year. A discounted 2025 bike with 105 can easily out-value a stripped-back 2026 build with CUES at the same price. Frame geometry rarely changes meaningfully year to year, so a year-old 105 endurance bike is often the better machine than a brand-new CUES one for the same money. Don't pay a premium for the "2026" label if the older bike has the parts you actually want.

Where are the deals? Decathlon's Van Rysel line is the clearest example. The NCR CF 105 lists at £2,000 / €2,199 but routinely drops to ~£1,599.99 / €1,599 in sales. The Giant Contend AR 1 is itself a marked-down example, cut from $2,200 to $1,870. Watch end-of-season clearances (typically autumn into winter) and manufacturer direct-sale channels, where the margins are thinnest.

A buying framework — five steps in order:

1. Fix your fit first. Get your size and ideal stack/reach before you shop. A bargain in the wrong size is no bargain.
2. Pick your side of the 105/CUES line. Decide whether the 105 badge is worth the stretch for you, using the decision rule earlier.
3. Compare like-for-like across model years. Put a discounted 2025 next to the 2026 at the same price and judge by spec, not by the year.
4. Prioritise the parts you can't cheaply upgrade. Frame, fork, groupset and brakes are expensive to change; wheels and tyres are an easy later upgrade.
5. Buy the fit + spec, then optimise. Set the wheels up tubeless, swap tyres for your terrain, and add fenders if you commute. Small spends that punch above their weight.

Pro tip: The single best post-purchase upgrade on most bikes here is tyres and a tubeless setup, not new wheels. Quality 30–32mm tubeless tyres at the right pressure transform comfort, grip and rolling resistance for a fraction of a wheelset's cost.

Scenario — the patient buyer. A rider eyeing the £2,000 Van Rysel NCR CF 105 waits for a Decathlon sale, picks it up at £1,599, and pockets £400, money that covers a tubeless conversion, a power meter pedal and a winter's worth of fenders. Same bike, smarter timing.

Frequently asked questions

Q: Can you still get a Shimano 105 road bike for under $2,000 in 2026? A: Yes, but only just. Genuine Shimano 105 12-speed bikes now cluster between $1,870 and $2,100. The Giant Contend AR 1 sneaks under budget at $1,870, while the Trek Domane AL 5 Gen 4 sits right at the ceiling at $2,099. Carbon-framed 105 options like the Van Rysel NCR CF 105 (£2,000, often discounted to ~£1,599) also qualify. Below roughly $1,800, you'll get Shimano CUES 10-speed instead.

Q: Is Shimano 105 worth it over CUES or Tiagra on a budget bike? A: It depends on your priorities. 105 12-speed gives you tighter gear steps, a more refined shift feel, and stronger resale value. CUES gives you LINKGLIDE durability and a wider 11-39 cassette (lower climbing gears) for less money. For fast group riding and long-term ownership, 105 is worth the stretch. For commuting, all-road versatility and value, CUES is the smart-money choice and no longer the compromise it once was.

Q: Is mechanical 105 (R7100/R7120) as good as 105 Di2? A: For most riders, functionally yes. Mechanical 105 shares all non-shifting parts with 105 Di2 (the same chain, cassette, crankset, calipers and rotors), so braking and gearing range are identical. You give up electronic shifting precision and auto-trim, but you save about $700, gain field-serviceability, and never have to charge a battery. Mechanical 105 is also likely to stay Shimano's top cable-shifting road group for years, since Dura-Ace and Ultegra are now electronic-only.

Q: Are hydraulic disc brakes worth it on a road bike under $2,000? A: Absolutely, and they're now effectively standard. Hydraulic discs deliver consistent, well-modulated stopping power in wet weather and on long descents that rim brakes can't match. The current 105 BR-7170 calipers even add 10% more rotor clearance to reduce rub. Since 105 12-speed is hydraulic-disc-only, choosing 105 means choosing hydraulics by default, and CUES builds at this price use them too.

Q: Is an aluminium frame good enough, or should I save for carbon? A: For most riders, aluminium-with-a-carbon-fork is more than good enough under $2,000. Modern alloy frames (Trek 100 Series Alpha, Giant ALUXX, Cannondale SmartForm) are stiff and comfortable. Carbon exists at the ceiling (Van Rysel NCR CF, Boardman SLR 9.0) but usually trades wheel and finishing-kit quality to hit the price. At this budget, fit, groupset, brakes and tyre clearance matter more than frame material. Chase those first.

Q: How much tyre clearance do I need on a 2026 road bike? A: It depends on your riding. For pure road, 28–32mm is plenty and every bike here covers it. If you want to ride light gravel, broken pavement, or run full fenders in winter, look for 35mm or more. The Specialized Allez and Van Rysel hit 35mm, the Trek Domane AL 5 and Giant Contend AR 1 reach 38mm, and the Canyon Endurace AllRoad leads the class at 40mm. More clearance means more versatility from a single bike.

Q: Is electronic shifting (SRAM Apex AXS / Rival AXS) worth it under $2,000? A: Rarely within this budget. SRAM Apex AXS and Rival AXS bring 12-speed wireless electronic shifting to budget bikes, and Apex AXS appears on some sub-£2,000 UK builds, but electronic shifting is still more typically found above $2,000. Van Rysel's NCR CF Rival AXS build, for instance, sits above budget at €2,499.99. Under $2,000, your money usually buys more bike with mechanical 105 or CUES than with an entry electronic group.

Q: What's the difference between Shimano 105 R7100 and R7120? A: They're part of the same groupset. R7100 refers to the derailleurs, crankset and cassette; R7120 refers to the mechanical disc-brake shifter/lever set. A bike specced with "105 R7100/R7120" simply has the complete current mechanical 12-speed group. R7120 isn't a different or lower tier, just the brake-lever designation within it.

The verdict: how to choose your sub-$2,000 road bike in 2026

The frontier is the whole story. In 2026, $2,000 either buys genuine Shimano 105 12-speed at the ceiling, or it buys CUES 10-speed plus a better frame, wheels or clearance lower down. Both are smart buys. The right one depends entirely on what you value, and now you have the framework to decide.

If the 105 badge and the best shifting matter to you, spend to the ceiling. The Giant Contend AR 1 ($1,870) is the lowest-cost genuine-105 bike and the value pick, with a hill-friendly 11-36 cassette under budget. The Trek Domane AL 5 Gen 4 ($2,099) is the no-compromise benchmark. In the UK, the carbon Van Rysel NCR CF 105 and Boardman SLR 9.0 put 105 on a carbon frameset at the same ceiling.

If you'd rather bank the savings and ride more capability, take CUES. The Cannondale Synapse 2 ($1,799) is the comfort-and-versatility champion with DT Swiss wheels; the Canyon Endurace AllRoad ($1,499) is the cheapest complete bike here and the all-road king with 40mm clearance and a 6-year warranty.

One-line picks by rider type:

• Best overall 105 bike: Trek Domane AL 5 Gen 4.
• Best 105 value (under budget): Giant Contend AR 1.
• Best carbon at the ceiling: Van Rysel NCR CF 105 (especially on sale).
• Best value without 105: Cannondale Synapse 2.
• Best do-everything / cheapest complete: Canyon Endurace AllRoad.

Whichever side of the frontier you land on, do two things before you buy: confirm the fit in your size, and check current pricing and stock. Model-year deals move fast, and a discounted 2025 105 bike can beat a full-price 2026 build. Spend deliberately, lead with fit and the parts you can't cheaply upgrade, and a sub-$2,000 road bike in 2026 will out-ride anything this money bought a few years ago.