How to Determine the Price for a Used Bicycle

bicycle image by david harding from Fotolia.com

Selling an old bicycle that you no longer use but is still in good condition is a good way to make some extra money. Even bikes that aren't in great condition may be worth some money, particularly for the parts used in creating the bike. Before you determine the price for a used bicycle, take into account the condition and what other people are charging for similar bikes.

Instructions

Difficulty: Moderately Easy

Step 1

Decide if your bike is a collectible or just an ordinary bike, which helps determine the price. Bikes for girls are generally worth more because girls do less damage to their bikes than boys. Also pay attention to the manufacturer. Common bikes such as those sold in department stores aren't worth much. Rare bikes from manufacturers like Softcruise, Columbus and Reynolds are worth more.

Step 2

Examine the bike carefully to determine its condition, paying special attention to the frame. If the frame is even slightly bent, you won't get top dollar from the bike because the cost of fixing the frame is so high. Even minor flaws can severely detract from the value. However, bikes that are rare may be worth money for their parts, especially to collectors restoring bikes.

Step 3

Check bicycle price guides, but only if your used bike is a collectible or a hard-to-find model. Bicycle price guides often list the value of the price based on the condition, with lower prices offered for bikes in poor condition or those missing parts. If your bike is an older or collectible model, it will help you determine the right price. Vintage Trek offers a free price guide for Trek model bikes.

Step 4

Use the targeted audience to help determine the price. A good example is selling used kids bikes. These bikes are often worth less than half the original cost because of the normal wear and tear kids put on their bikes. Bikes for women are often worth more than bikes for men because these were made in limited numbers and are harder to find.

Step 5

Check what other sellers are charging for the same bike. SellaBikecom and UsedBicycleforSale.com are two good resources that offer free classified listings and free searches. Search by keyword, type of bike, manufacturer or year. Look through your local newspaper for the classified ads as well and see what people are charging for their bikes in your area.

Tips & Warnings

Where you sell your used bike also helps determine the price. If you're selling at a yard sale or garage sale, keep your price low, so as not to turn off potential buyers. For classified ads and auctions, you can typically charge a little more.

Be careful about listing your bike without a price or using a "best offer" format, as many people are hesitant to make an offer simply because they don't know what the bike is worth.

Use the Kelly Blue Book for motorcycles and motorized bikes.

Resources

Article Written By Jennifer Eblin

Jennifer Eblin has been a full-time freelance writer since 2006. Her work has appeared on several websites, including Tool Box Tales and Zonder. Eblin received a master's degree in historic preservation from the Savannah College of Art and Design.

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