A big question many people have after buying a bicycle and wanting to sell it for whatever reason is what to sell their bike for. While I haven’t bought many used bikes, I am a huge bike buff and track prices pretty closely.
Recently, wanting to build up a winter commuter I have been searching for a good used mountain bike through Utah’s famous KSL. Come to find most people selling bikes on there have no idea how to price their bikes. So, I have put together some handy tips to help people out.
1- Dig up the sales price from when you bought the bike years ago.
2- Depreciate the bike’s value by $10.23/year for each year you have owned it.
3- Always claim you only rode the bike a couple of times regardless of how stretched out the brake cables are. Sure the buyer may need to take on the risk of things breaking, but nothing ever broke for you.
4- Immediately disregard completed eBay sales for your make and model of bike. Accuse anyone offering you prices comparable to eBay of wanting to pay walmart prices for a boutique bike.
5- Always have some mention of the tires in your ad. Tires sell bikes and the average bike user probably never needs to replace the tires before they put the bike back for sale on KSL. Not to mention, the tires you have on the bike are the exact ones the buyer would want.
6- Add up your local bike shop’s retail price for all upgrades regardless of you buying them online. Add to the price you paid for the bicycle less depreciation. Remember, whatever upgrades you put on are exactly what every buyer would want.
7- Remember, the bike isn’t worth what someone will pay for it, it is worth what you value your emotional and actual investment in the bicycle to be.
8- Post online with the other 2000 or so bicycles always for sale on KSL. Take calls, answer emails, repost the ad and meet people for a couple of years and you will eventually get your price. Maybe.
Guess where I am getting my bike?!
KSL Bikes Direct.