For most of us, getting a new bike also means getting rid of the old one, and it’s common sense that if you can maximise the money you receive for flogging your old one, and you’ll have more to spend on the next.
But how do you ensure it’s selling for what it’s really worth? We’ve already gone through the basic explanation of how to sell a used bike, but below we’ve collected tips, tricks and general advice on increasing the resale value of your bike, so that you have more to spend on the next one.
Get the simple things right
Having worked as a bike mechanic, I can tell you that the odds of someone noticing you’ve spent hours rebuilding the internals of some obscure component are minimal. However, everyone notices if you’ve popped some air in the tyres and wiped the frame down.
If you can’t be bothered to do anything else, at least do this. It’ll make any test ride more enjoyable too, and first impressions are key when it comes to the inevitable haggle over price later on.
Invest in tackling key mechanicals
You’ll feel better if you send your bike on in good order, but there’s a balance to be struck. You’re trying to maximise the amount of cash you have available for your next bike, so unless your bike is particularly posh, investing in a full service is unlikely to be economically efficient.
Instead, tackle jobs you can manage yourself. If you’re a competent mechanic, a complete overhaul would be brilliant. Otherwise, make sure everything is safe and works correctly. Our bike maintenance tips will help you cover off what’s needed, but at the very least, ensure there’s life in the brake pads, the chain has been lubricated, and there’s air in the tyres at least.
Level up
Are one or two areas letting the bike down? If so, consider getting them fixed. This could be cosmetic, like swapping a scuffed saddle or adding new grips or tape. It could be something larger, like a worn drivetrain or bald tyres.
However, if you can change one or two items and boost the bike’s category from acceptable to minty, it’s probably worth spending the money.
As a buyer, buying a bike knowing that you’re going to have to replace certain items comes with risks as well as added effort, so if replacing your bike’s chain might cost £25 / $30 to replace, you’d expect the value of the bike to be reduced by more than this to account for those risks.
As the seller, if you invest that £25 / $30 up front, you may save yourself being haggled down by more.
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