“Where should I sell my bike?”
“Can I get more money for my bike if I sell it myself?”
“How much is my bike worth?”
“Does Bikes Palm Beach buy used bikes?”
These are just some of the questions we frequently answer at Bikes Palm Beach. If you’re unsure of the process, It can be a bit overwhelming to sell your bike. Therefore, we compiled the following suggestions to help you receive the best value for your much loved bikes.
How to determine the value of your used bike
The short, but annoying, answer is, well, “It depends.” Okay, mostly kidding. Well, sort of. Just like other vehicles, bikes can depreciate in value, too. A lot of that value depends on multiple factors including how well your bike has been maintained.
A great resource to help you determine a reasonable asking price for your bike is Bicycle Blue Book. This company specializes in providing an online pre-owned bike marketplace for buyers and sellers. Their website features the most trusted bicycle valuation guide, which is actually super user-friendly. Simply enter the bike manufacturer, model name and year, and the bike’s condition (i.e. “excellent,” “very good,” “good,” and “fair”). Don’t worry—they clearly describe the parameters of each condition.
Keep in mind, the guide will only account for the specifications original to the bike. Therefore, any upgrades or customization you’ve made to the bicycle will not be reflected in the valuation guide.
Making your bike attractive to buyers
To maximize your bike’s value, invest some time in cleaning up your bike and taking nice photographs of it outdoors or against a plain background. Photos should feature the entire bike as well as some close-up shots of the components (gears, chainrings, brakes, derailleurs, etc).
Also, if the bike needs some TLC that is beyond your skill, consider that the cost of getting a tune-up may be the difference between listing your bike’s condition as “Very good” and “Good” and thus, could be worth getting it done. If a tune-up is what you need, bring it by Bikes Palm Beach and we’ll get that bike looking and riding like new and ready for your potential buyer.
Best websites for selling your bike
Selling to a bike or pawn shop are two options. However, you will make more money selling it to a private buyer. That is true especially if you can sell it locally (otherwise, factor shipping fees into your asking price). You’ll need to identify which bike shops are accepting consignments or will buy pre-owned bikes. It’s not always an available option. Please note, Bikes Palm Beach does not currently buy used bikes or take in consignments.
Online classifieds, such as Facebook Marketplace, Craigslist, OfferUp, and LetGo are good options. There are potential drawbacks to using these websites. For instance, your ad will constantly be bumped down by newer ones, requiring regular attention on your part. Also there are scams and fake offers to be aware of.
Other online forums such as Pink Bike and Bicycle Blue Book are targeted specifically toward bike nerds. If your bike is higher end and still holds value, you’ll have greater odds of finding the right person for your bike on one these bike-specific sites. Be prepared to negotiate. You’ll also need to answer a number of very specific questions about your bike and each of its components. The extra attention may be worth it, though, if you get the right buyer to pay what you’re asking.
Pros and cons of trading in your used bike
Bike trade in allows you to get some value from your used bike and put it towards a new one. It’s a viable way to “sell” your bike. Keep in mind that you will make more money from selling your bike to an individual buyer. However, a shop can make it a very easy process if you don’t want to deal with the hassle of selling it yourself. Currently, many bike shops, including Bikes Palm Beach, only buy used bikes as trade-ins on a case-by-case basis. It never hurts to ask, though.
Ready for a new bike?
Whether you’ve already sold your bike and are ready to buy a new one or you’re just starting the process, stop in at Bikes Palm Beach. Check out our wide selection of hybrid bikes, mountain bikes, road bikes, gravel bikes, kids’ bikes, and e-bikes. You can take one (or 5) for a test ride (or 5). We’re happy to help you find your new favorite ride and can offer this advice for selling your old bike.