How to Increase the Sale Value of Your Used Bike

  • 4 minutes

The used bike market has grown tremendously since the shortage of new bikes in stores. As with most outdoor activities, the pandemic has generated an unprecedented wave of enthusiasm for cycling, both among beginners and more experienced amateurs. This period of high demand is the perfect time to sell or exchange your bike!  
 
In order to maximize the value of your bike, there are some pitfalls to avoid and some tips to keep in mind. This quick guide will give you all the advice you need for a successful transaction!

General condition of the bike

Obviously, one of the factors that will have the greatest impact on value is the overall condition of the bike, both cosmetically and mechanically. Regardless of the age of the bike or its initial price, a bike with broken components that prevents it from functioning properly will not be sold at its full potential. This is because the new owner must invest time and money to remedy the situation. In most cases, it’s more cost-effective to do the repairs before the transaction, as the value of the maintenance can easily be justified in the selling price.

 
Conditions that affect the value of a used bike

  • Defective drivetrain components
  • Brake pads at end of life
  • Chain past its useful life
  • Traces of rust
  • Warped or bent wheel
  • Tires cracked or past their useful life
  • Cosmetic and/or structural damage to frame and fork

If your bike is in good mechanical condition, the next step would be to simply give it a thorough cleaning. Here's a link to one of our articles where we cover the subject!   

Quality of photography


It's no secret that a well-presented product makes it much more desirable and will attract the eye of potential buyers. Once the cleaning is done, it's time to take a few pictures for the sale ad or to get a quote for an exchange in store or with Cycling Avenue.
 
A successful photo is one that effectively communicates the aesthetic condition of the bike as well as the different components that are installed on it. The more information the photo contains, the more the potential buyer will feel confident and will want to contact you to complete the transaction. This also avoids many repetitive questions that will waste your time.  
 
Not disclosing the various defects will only result in disappointing the potential buyer, having to negotiate down the initial price, or simply losing the sale. Here are the basic images that your ad should contain for a successful listing. Add a detailed picture for each cosmetic defect as well.

 
Essential photos for your ad listing

  • Complete bike seen from the transmission side.
  • Complete bike from the left side
  • Cassette, crankset and derailleurs
  • Picture of the cockpit and the shifters
  • Detailed pictures of the defects (if needed)

Things to avoid when taking pictures of your bike: 

  • Dark photos in a low light environment 
  • Blurred photos taken at extreme angles (low angle) 
  • Photos that don't communicate the model's name well on the components

 
How to determine the value of your bike


It's now time to determine your bike’s value. As we've seen over the past couple of years, supply and demand have a huge impact on the value of our goods, and used bikes are no exception! So be on the lookout for comparable products that are currently for sale locally to price your bike accordingly.
 
Keep in mind that sometimes, even if your bike is relatively new and in good condition, certain technological advances or new trends can impact the perceived value to buyers. For example, road bikes with rim brakes are now less popular than new road bikes with disc brakes.  
 
If you would like to know the value of your bike right now, submit a value request here with Cycling Avenue. It's free, fast and without obligation! This cash value can also be used as in-store credit with us or at one of our many partner stores across Canada. This saves you the time-consuming process of creating classified ads and negotiating with strangers, as the value offered is guaranteed for 30 days. It's easy and secure! Now, let's get back to the different factors that will most determine the value of your bike. 

  • Factors determining the value of your bike:
  • Market context (supply and demand)
  • Age of the bike (model year)
  • Original selling price (MSRP)
  • General condition (cosmetic and structural)
  • Mechanical improvement(s) Technological advances and trends 

Last step: Information about the bike and its components


Once the photos are taken and the value is established, all you have to do is put together your ad by listing all the relevant information for the buyer. Here are the most important ones: 

  • Make and model
  • Model year (not to be confused with the year of purchase!)
  • Drivetrain model (Ex.: Shimano 105, Ultegra, Tiagra, GX, NX, etc.)
  • Number of gears on the rear cassette
  • Parts that have been modified, changed or upgraded
  • Written description of mechanical and cosmetic problems (if any) 

That's it! You now have all the tools for a successful sale or trade-in. With these tips, the value of your bike will be optimized and your chances of conversion will be much better. Don't hesitate to contact us or fill out the trade-in form if you're curious to learn more about the Cycling Avenue buyback process!