So the time has come and you have made that all-important decision – I need to sell my bike. Whatever the reason may be, the key thought you should now have is trying to get the largest return on your initial investment. After all, there’s no point selling your bike if you can’t get a decent amount of money out of the transaction.
Knowing how to sell your bike and, perhaps as importantly, knowing what buyers are looking for will play a huge part in your eventual success. With that in mind, here are four things that you need to know to make sure the sale is successful.
- Make Use of the Web
There are many online resources available for those who are looking to sell their bikes. Companies like TheBikeBuyers can offer cash in an instant for practically any brand of bike, while other sellers may prefer to use a resource such as eBay or craigslist to appeal to private buyers.
With more than 277 million people currently having access to a web connection in the United States, the web is the best way to get your bike in front of as many eyes as possible.
- The Best States to Sell
The amount of people who own a motorcycle varies from state to state, so it is important to try and target states that have a high ratio of bikes to people. While this may seem counter-intuitive at first, bear in mind that this makes for a very good indicator of potential interest.
Statistics indicate that the likes of South Dakota and Iowa are amongst the most popular biking areas of the country, with a bike for every 12 people in South Dakota being the most impressive figure. Try to target any states where biking is popular to generate as much interest as you can.
- Know Your Brands
As with so many other commodities these days, brand name is of massive importance when it comes to motorcycles. Some makes and models are guaranteed to attract more attention than others, so it is important to manage your expectations according to what you are trying to sell.
Bikes made by the likes of Honda, Harley Davidson and Kawasaki will attract the most interest, so you can determine your prices accordingly. Speaking about price…
- Know the Bike’s Value
There is no point going into any transaction without having a good idea of what the item being purchased is worth. This is as true for sellers as it is for buyers, as failure to determine a minimum value could lead to you losing out.
The Kelley Blue Book is an excellent resource for those who are unsure about how much their bike is worth, so make sure you take advantage of it. This way you will be able to figure out exactly what you are willing to accept from a prospective buyer, in addition to knowing when you are being lowballed.
Once the decision is made on your part that I need to sell my bike, you should always ensure that you have as much information as possible at your disposal before venturing forth with the sale. By taking these four issues into account before the sale, you will place yourself in a much better position.