What’s the best time to sell a bike?

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Katana

Katana

Active Member
I don't know a lot about the secondhand bike market, apart from reading that stuff isn't selling! But it did strike me that trying to sell a secondhand bike for 3/4 of the price you could get a brand new one with warranty is optimistic. I see @roubaixtuesday beat me to it though.

My advice, hang on to it if at all possible as you clearly like the bike. Everyone needs a spare or two! If not, wait til spring as mentioned above.

I'd also add general advice for selling secondhand stuff. Clean within an inch of its life, so every component shines from every angle and it looks pristine. Buff the frame with some car wax* or even furniture wax.
Then spend some time taking lots of good, sharp photos with good lighting. Include closeups of all the mechanical bits. Do some beauty shots, ideally with a really nice backdrop, i.e you're selling not just the bike but the idea of the bike. The new owner riding it in beautiful scenery.

* not car "polish" which is a mild abrasive, and if it's a spray don't spray it all over the bike just a small drop on a rag and rub it in, then a clean rag to buff.

After all that you'll probably get a load of lowball offers and if you don't price it super cheap, be prepared to wait. On ebay put it on with a decent but realistic buy it now price, and just let it sit there.
 
OP
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Katana

Katana

Active Member
Ah many thanks buddy for the very useful advice. Yes I will hang on to it till spring as not desperate to sell. Although I always keep my bikes clean but can certainly do with some detailing job. Really appreciate it🙏🏻😊
 
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Katana

Katana

Active Member
I sold one last week but it had been on eBay for months and I dropped the price. As above, poor time to sell and used values are poor.
As above, yours does sound expensive given how much they are new (esp as people can use discounts, cashback sites, work vouchers, C2W etc at Halfords)
 
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Katana

Katana

Active Member
I think I will hold fire for the time being and will put it up for sale in spring time on eBay. As far the price I will take into consideration the sales price of the brand new bike at the time and maybe reduce it to 50% as it’s in pristine condition and only ridden few times. Many thanks for the advice 🙏🏻
 

Brandane

Legendary Member
Location
Costa Clyde
Hold onto it until the next coronavirus style epidemic and lockdown.....
Other than that, used bikes are worth not a lot at present. Lots for sale (probably purchased during last lockdown) and not in huge demand. Over supply means low value.
 
OP
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Katana

Katana

Active Member
Hold onto it until the next coronavirus style epidemic and lockdown.....
Other than that, used bikes are worth not a lot at present. Lots for sale (probably purchased during last lockdown) and not in huge demand. Over supply means low value.
 

Sixmile

Guru
Location
N Ireland
Guys I need some advice as I have never sold a bike before. I need to sell my beloved Boardman Adv 8.6 gravel bike to make room for my newly acquired Ridley Fenix SLA 105. In an ideal world I would like to keep it as I have hardly used it simply because I do have another gravel bike(pinnacle Arkose 3). However I don’t have space to accommodate all of them so rather grudgingly came to the decision to part company. I put an advert on gumtree week ago but didn’t had much interest despite it was very competitively priced i.e. £499? I don’t know if it is due to the fact that Halfords have sale at present and therefore selling it for £660 as RRP is £825? Or maybe it’s not the best time? And off course bike manufacturers are trying to shift excess stock of their inventories for the ramped up production during Covid doesn’t help the matter? Any advice will be greatly appreciated😊

As above, spring is the time when the evenings are bright and people are getting outside again. I shifted 4 bikes last spring with a little effort. Gumtree isn't what it was, facebook marketplace seems to be where it's at these days but on both, be prepared for time wasters.

Remember if Halfords are selling for £660, someone buying that bike on c2w would get it brand spanking new for £528 and payable over 12 months. I'd be surprised if anyone ever pays RRP for anything in Halfords seeing there are so many ways and means to get discounts. Good luck with the sale!
 
OP
OP
Katana

Katana

Active Member
As above, spring is the time when the evenings are bright and people are getting outside again. I shifted 4 bikes last spring with a little effort. Gumtree isn't what it was, facebook marketplace seems to be where it's at these days but on both, be prepared for time wasters.

Remember if Halfords are selling for £660, someone buying that bike on c2w would get it brand spanking new for £528 and payable over 12 months. I'd be surprised if anyone ever pays RRP for anything in Halfords seeing there are so many ways and means to get discounts. Good luck with the sale!
 
I devised a formula a few years ago to approximate the value of used bikes. It went something like this.
Purchase a new bike, wheel it out of the shop onto the pavement and it will instantly depreciate. It's the biggest percentage drop in value it'll ever take. Unless you crash it.

* Take the price you paid for it (not the full manuf's suggested retail price). Let's call it a £1000 bike, and subtract 25% = £750
* For every year subtract another 10%
* Now multiply it by a figure to take account of it's condition. 1.0 is good. 0.1 is ready for the scrap pile. So if it's never been ridden and 'as new' it'll be multiply by 1.0. If it's been used only for short dry weekend rides it might be a 0.9 And if it's been used to commute for three years and had little maintenance it might be a 0.4 Something as obvious as giving it a good clean will add value at this point. If you can be arsed.
* Are there any obvious components which will need to be replaced? Worn grips or tyres, ripped saddle? If so subtract the RRP value of whatever parts it needs. You now have a ball park figure.
Step back. With your final number in your head take a look at the bike through objective eyes and ask yourself, does that look like a bike that would sell for that figure? Tweak it up or down accordingly.
If you do miraculously come to a figure with which both you and and a prospective buyer can agree well done.

If you still want to get more £$£$ for it, and aren't in a rush to sell it - price it high. But be prepared to wait and be prepared to have people haggle. One strategy is to drop it incrementally over a period of time until your selling price eventually meets with what some poor sucker is prepared to spend. if you want to sell it quick - price it low. Obvs.
If you plan on selling it to a dealer, retailer, second hand bike emporium - be prepared to sell it for less than half of what you think it's worth.

Don't bother trying to auction it. It doesn't work for the seller these days. 'Buy It Now' is the only way
 

All uphill

Still rolling along
Location
Somerset
I devised a formula a few years ago to approximate the value of used bikes. It went something like this.
Purchase a new bike, wheel it out of the shop onto the pavement and it will instantly depreciate. It's the biggest percentage drop in value it'll ever take. Unless you crash it.

* Take the price you paid for it (not the full manuf's suggested retail price). Let's call it a £1000 bike, and subtract 25% = £750
* For every year subtract another 10%
* Now multiply it by a figure to take account of it's condition. 1.0 is good. 0.1 is ready for the scrap pile. So if it's never been ridden and 'as new' it'll be multiply by 1.0. If it's been used only for short dry weekend rides it might be a 0.9 And if it's been used to commute for three years and had little maintenance it might be a 0.4 Something as obvious as giving it a good clean will add value at this point. If you can be arsed.
* Are there any obvious components which will need to be replaced? Worn grips or tyres, ripped saddle? If so subtract the RRP value of whatever parts it needs. You now have a ball park figure.
Step back. With your final number in your head take a look at the bike through objective eyes and ask yourself, does that look like a bike that would sell for that figure? Tweak it up or down accordingly.
If you do miraculously come to a figure with which both you and and a prospective buyer can agree well done.

If you still want to get more £$£$ for it, and aren't in a rush to sell it - price it high. But be prepared to wait and be prepared to have people haggle. One strategy is to drop it incrementally over a period of time until your selling price eventually meets with what some poor sucker is prepared to spend. if you want to sell it quick - price it low. Obvs.
If you plan on selling it to a dealer, retailer, second hand bike emporium - be prepared to sell it for less than half of what you think it's worth.

Don't bother trying to auction it. It doesn't work for the seller these days. 'Buy It Now' is the only way

Spot on.

I'd add that sellers who have added value for 'upgrades' would be well advised to subtract that value instead; originality rules.
 

PaulSB

Squire
Spot on.

I'd add that sellers who have added value for 'upgrades' would be well advised to subtract that value instead; originality rules.

I'm not so sure it is spot on. If my maths is correct that would make a ten year old £1000 bike worth £250. Personally I wouldn't shell out more than £50 - 75 for a bike of that age.

A two year old would be £600. I'd say £400 for top condition would be more realistic.
 
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OP
OP
Katana

Katana

Active Member
I devised a formula a few years ago to approximate the value of used bikes. It went something like this.
Purchase a new bike, wheel it out of the shop onto the pavement and it will instantly depreciate. It's the biggest percentage drop in value it'll ever take. Unless you crash it.

* Take the price you paid for it (not the full manuf's suggested retail price). Let's call it a £1000 bike, and subtract 25% = £750
* For every year subtract another 10%
* Now multiply it by a figure to take account of it's condition. 1.0 is good. 0.1 is ready for the scrap pile. So if it's never been ridden and 'as new' it'll be multiply by 1.0. If it's been used only for short dry weekend rides it might be a 0.9 And if it's been used to commute for three years and had little maintenance it might be a 0.4 Something as obvious as giving it a good clean will add value at this point. If you can be arsed.
* Are there any obvious components which will need to be replaced? Worn grips or tyres, ripped saddle? If so subtract the RRP value of whatever parts it needs. You now have a ball park figure.
Step back. With your final number in your head take a look at the bike through objective eyes and ask yourself, does that look like a bike that would sell for that figure? Tweak it up or down accordingly.
If you do miraculously come to a figure with which both you and and a prospective buyer can agree well done.

If you still want to get more £$£$ for it, and aren't in a rush to sell it - price it high. But be prepared to wait and be prepared to have people haggle. One strategy is to drop it incrementally over a period of time until your selling price eventually meets with what some poor sucker is prepared to spend. if you want to sell it quick - price it low. Obvs.
If you plan on selling it to a dealer, retailer, second hand bike emporium - be prepared to sell it for less than half of what you think it's worth.

Don't bother trying to auction it. It doesn't work for the seller these days. 'Buy It Now' is the only way
 
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