Part 3: The Bike Seller's Guide

Ready to sell your bike?

The difference between a quick sale at a fair price and months of lowball offers often comes down to presentation, what you've done to get the bike in a sellable condition and strategy.

Here's how to get a good price!

 

First Impressions Count

A clean bike sells faster and for more money so spend a bit of time on deep cleaning.

  • Degrease the drivetrain completely;
  • Clean and polish the frame;
  • True the wheels if they're slightly out;
  • Replace worn bar tape or grips (cheap but high visual impact);
  • Fix any minor issues that make the bike look neglected.

 

Maintenance

There are some things that you can do that go a long way and are, relatively, cheap to do.  

Examples being:-

  • New chain: £15-£50 for the chain plus more for labour if taking to a bike shop;
  • Fresh brake pads: £10-£30 plus more for labour if taking to a bike shop;
  • Basic service: £60-£100 depending on condition of the bike; and 
  • Tyre replacement: How long is a piece of string?  Cheap tyres start at approx £30 plus fitting.  They'll make the bike look more presentable but will likely be changed by the buyer after purchase.

Don't go overboard – you won't recoup major component upgrades.

 

Put yourself in the position of the buyer

Take a look at our Blog posts from the last two weeks and, if you can, complete the checks as if you're the buyer.  You'll be prepared for any areas of concern and it will help you be better placed to determine a reasonable price.

 

Part 1 - Pre-Purchase Inspection Checklist

Part 2 - Pre-Purchase Inspection Checklist - Bearings

 

Writing Descriptions That Encourage Interest

Once you've inspected the bike thoroughly, you can write your advert.  Your description should answer questions before buyers ask them:

Start with the basics:

  • Brand, model, year, size;
  • Original retail price (if impressive); and
  • Your height/riding style (helps with sizing).

Highlight key features:

  • Component upgrades from stock; 
  • Recent maintenance or new parts; and
  • Why you're selling (moving, upgrading, etc.)

Be honest about condition:

  • Note any cosmetic damage upfront;
  • Mention what maintenance might be needed soon;
  • Detail any major repairs that have been done i.e repair to a carbon frame;
  • Include photos of any wear or damage.

End with logistics:

  • Collection location/delivery options
  • Payment preferences
  • Viewing availability

 

Pricing Strategy

You should research the market for your bike thoroughly, then price slightly above your target. Buyers expect to negotiate, and you can always come down.

Premium pricing works if:

  • Your bike is genuinely exceptional condition;
  • You've included quality upgrades;
  • It's a sought-after model; and
  • You're not in a hurry to sell.

 

Competitive pricing works if:

  • You want a quick sale;
  • The market is flooded with similar bikes; and 
  • The bike has some issues or wear that the buyer will have to rectify.

 

Dealing with Enquiries

When dealing with prospective buyers, the most important thing you can do is to be honest about the condition of the bike and to give the buyer a good amount of time to properly inspect and test-ride the bike.  Rushing them through the process may set alarm bells ringing, so block off a good amount of time from your schedule to accommodate the buyer's checks. 

 

Safety and Scam Awareness

The safest way to meet with someone is in a public place and, if possible, have someone with you.

Cash on collection is the safest form of payment. However, if the bike is worth thousands of £s then this may not be practical. Therefore, a bank transfer at the time of collection could be arranged (checking it's been received into your bank before handing over the bike).  If accepting cash, you may wish to consider buying a cheap Money Checker Pen that  highlights counterfeit notes.  

We'd advise against using the likes of Paypal as this could lead to a claim being put in for non-receipt of the bike.  

Trust your instincts – if something feels off, it probably is.  You do not need to go through with the sale if you don't feel comfortable.

 

Finishing Up

The effort you put into the presentation of your bike, maintenance of the bike and marketing directly impacts your final sale price.

A well-presented bike with an honest description will always outperform a rushed listing and dirty bike, even if the bike is of similar quality.

So, like we say to buyers, take your time and get it right. Put yourself in the buyers shoes and you'll sell your bike in no time!

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