Going Going Bike

Nov 072011
 
How to sell my bike

In those quiet moments when you are looking lovingly at your bike stood against the wall, do you ever wonder to yourself, “how much is my bike worth?” It’s not an easy thing to know or determine.  There is no guide for used bike prices that could give you useful pointers on the perfect price for your bike as there is, for example, for used cars.

If you’ve been thinking how much is my bike worth there is no need to despair. Here at Going Going Bike we now provide a free bike valuation service to anyone who visits the site. We’ll be totally honest with you and tell you whether your bike is worth a tidy sum or if it is really not worth much at all.

Pool of knowledge

Because we’ve been helping people buy and sell bikes for well over a year we know what used bikes cost. Throughout that time we have built up a pool of knowledge and data about used bike prices and valuations of second hand bikes which puts us in a tremendous position to advise you about the value of your bike and help you find how much your bike is worth.

Since we began valuing bikes we’ve had lots of interest from Brompton owners. This is partly because we are the official marketplace for used Brompton bicycles. Below is a photo of one of the recent Brompton’s we’ve valued. They keep their value really well and, so long as they have been kept in good condition, tend to be worth between £450 and £600.

There are a variety of reasons why people have contacted us to value their bikes. The most common reason is because people want to know what price to sell their bikes for. We were recently asked to value the following Specialized Rockhopper mountain bike. It was 4 years old, 19 inches and stated to be in good condition. We valued it at between £150 and £180 and it was subsequently sold on the Going Going Bike marketplace for £150. A pleasing result!

Accurate info

Apart from the mountain of data we have built up in this time, we also take into account a variety of factors including the age of the bike, the condition it is in and the bike’s make and model to help

Because we are providing a “remove bike valuation” we rely on receiving accurate information on the bike. So, if you want to know the value of your bike, be honest when you contact us about finding out how much your bike is worth. Let us know of any flaws, dents, scratches and worn-out parts on the bike. This is important as the cost of any future repairs that may need to be done by a new owner will give us a better idea of the true valuation of the bike.

Additionally, any information on brands/models of parts used on the bike would be good. This includes brand/model details on hubs, wheel rims, cranksets, derailleurs, pedals, handlebar, seat stem and saddle.

Additions

We’ll of course credit the added value given to your bike if you’ve added new or better components/parts to the bike in areas such as the brakes, the gears, the seat or the tires. Additions to your bike totally justify a higher value being placed on a bike. Again, let us know what has been added to the bike with brand/model make included.

All these factors will help us make our bike valuation of your bike more accurate.

Things to bear in mind

Just a note of caution though. A used bike is only worth what somebody is willing to pay for it. The price someone is willing to pay for your bike will vary on the type of bike you are selling. Generally road bikes with drop handlebars and mountain bikes raise the highest used bike prices. Kids bikes notoriously struggle to sell for a high price, while women’s bikes also tend not to hold value.

Like antiques, a rare vintage bike brand will retain value and be priced accordingly. Similarly a bike with components such as sought after old Campagnola groupsets or wheels will actually mean a used bike price increasing in value. Older bike frames are also in demand for conversions, old steel frames in particular and these can catch a fair price on the market.

Apart from offering our bike valuation service, Going Going Bike also provides a quick and easy place to sell a bike for free. You can list a bike even if you are not certain that anyone will want to buy your old bike.

See also

Top tips for selling your bike

Used bicycle buying guide


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