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Bike Flipping 101

Old 02-13-18, 01:43 PM
  #501  
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Originally Posted by Hatchet
That is good advice about salesmanship. I have sold a few bikes so far and am really enjoying it. How many bikes do you sell per year? Do sales fluctuate a lot over the year or is it pretty steady all year long?
My yearly sales are into three figures.

Generally steady sales, although there are peaks - beginning of spring when the roads start to clear (mid-late March); first day temps get into the 70's (late April - early May); when school lets out for the year (early June); and back to school (or work) in August. I get a lot of parents who are looking for back-to-school bikes for their kids in very early August.

While there is a general slowdown after Labor Day, I actually do fairly well during that time because my bikes are priced reasonably, dialed in and ready to go, and sometimes people are not necessarily expecting this. Warm weather in the fall means I can extend my sales considerably. Couple years ago, I was selling into December, first time I've done that in this climate. Last year, I was selling only into November.
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Old 02-27-18, 08:07 PM
  #502  
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Originally Posted by CitizenChain
When I first started flipping, about 6 years ago, the "Added Value" was more than the money. I took great satisfaction in finding and fixing a wounded and neglected bicycle and matching it to the right person.
I believe everyone has a LIFE bike out there. I was lucky to find mine in 1982, (Blue Colnago) and after Baylis finishes her Re-Paint.. well.. it's me and my baby be riding again!

2 years ago I took a chance. I opend a bike shop, Crazy I know, but so far I (now we) have been lucky. I think to succeed in any endevour one needs passion and honesty. Passion for what you are doing and dealing with people honestly. It;s EASY to sell someone a bike. It is HARD to sell someone the RIGHT bike.

Thanks for letting me vent. Please find Below our shop's "Declaration of Principles"

"Declaration of Principles"
Citizen Chain promises to provide:

A bike shop that will treat every customer with respect and quality service, regardless of their level of biking experience or the price or make of their bike.

A fighting and tireless champion for bicycles: as a great method of transportation, the source of a unique culture, and most importantly, as the beloved friends of their owners.

Proper resources and safety that give every bicycle and bicyclist the opportunity to live up to their potential.

The tools, education, and opportunity for every rider to find their One Bike, no matter how long it may take.

Honesty, for both the rider and bicycle, about what can and cannot be done.

Signed,
Citizen Chain
Just strolled upon this. I can’t agree more. Very well put! Hope your shop is still prosperous
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Old 02-27-18, 08:16 PM
  #503  
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Originally Posted by Wrenchspinnerjr
Just strolled upon this. I can’t agree more. Very well put! Hope your shop is still prosperous
Dallas has bought a few bikes from me. Nice guy... https://citizen-chain-cyclery.myshopify.com
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Old 02-27-18, 08:31 PM
  #504  
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Originally Posted by curbtender
Dallas has bought a few bikes from me. Nice guy... https://citizen-chain-cyclery.myshopify.com
I love seeing a small town LBS. especially one that deals with vintage bikes.
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Old 02-27-18, 08:47 PM
  #505  
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I’m currently in my 3rd year of flipping. I do around 100 bikes a year. Most bikes I do are hybrids. They sell quickly where I’m at. I also do road bikes and mtn bikes buy for me hybrids are my bread and butter. It amazes my how may people will buy without a test ride. I always fully service the bikes including regreased all bearings. People do amaze me though.
I had one guy come over to check out a bike. He drove 2 hours over. Stood in my garage in the dead of winter and talked to me for 3 hours then said he’d let me know. A month later he called again to check out a different bike. Same story. Talked for 3 hours and left without a bike.
My sales remain fairly steady year round. They do slow down a bit in the winter but the spring is nuts! Anything I have in stock sells fast!
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Old 03-02-18, 05:59 PM
  #506  
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Is this a wrong thread to ask for advice on used bike?

Otherwise please redirect, i will post there.
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Old 03-03-18, 06:30 PM
  #507  
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I just started. Main motivation is because I like to work on bikes, learn things, want to see a bike being ridden as opposed going to landfill or just dusting in an attic. I have no delusion on making lot of money, my only hope is I could make some money to pay for shop supplies, and tools etc. If I was retired I may volunteer at a bike coop etc., but with child and a professional job I need to be able to do things on my own terms of scheduling.

I first put a CL ad up offering bike repair, upgrades, built of online bikes etc. but my wife got all nervous and talked about needing insurance etc. so I tabled that idea for now. So the next best thing would be to get old bikes, fix them or upgrade and sell... except I do it literally the way I want and no customer who will later claim I made a scratch on his bike etc. and no one will want it to be done the next day.

Problem is getting old bikes at reasonable cost.
1. Police auction seems bad here since they do that online through a NY company (I'm in WI!) and looking at that website they only had bikes in NY.
2. CL seems bad because there are the several thousand $ bikes (more expensive than similar bike from an online retailer), or the bikes that seemingly lived on university campuses but allegedly still should fetch $80 LOL. I also don't want to spend $ and time going to multiple people and deal with their price expectations for heaps of garbage. One potential issue with CL are stolen bikes - if the bike is relatively new I would ask to see a receipt or some other proof they bought it. Oh, and people think having mis-matched tires is an upgrade worth a lot of $ :-)

I put up a post on the neighborhood facebook site and got two paired (male and female of same type) 26" rigid fork MTB for free. Well, those are old, steelframe and rims, rusty, 5-speed freewheel, but seem to work. So I can clean, lube, repack bearings etc. and hope to get $20 or so. I realize this isn't really worthwhile, but will be a learning experience. the only thing making those bikes better than CL bikes is that they seem to have lived in a garage much of their life (still some rust, though).

If I'm lucky I come along some interesting bikes my size or my wife's size that I can upgrade and keep, or just keep for a while to see how i like it and sell if not. For example I never owned a drop bar bike and would need several long rides to see if i like one (no LBS test ride would tell me if i should buy a drop bar bike). One problem i have we only have a 2-car garage with little room to spare.so between our own bikes i'm limited to having 2-3 project bikes (and that is not convenient)

Not sure if the market changed, but it seems from older posts it used to be better for flippers. If I was in the market for a used bike, I would compare it to a new bike from bikesdirect, or Canyon etc. That kind of puts pressure on LBS brand used bike prices. Nowadays you get a lot of new bike for relatively little money and new bikes have all the things I want (hydraulic disc brake, tubeless etc.). All the old bikes Obviously don't have any such options, so even upgrading them will never make them nearly as good as new ones.

If anyone has good ideas to get inexpensive bikes in Madison, WI area, let me know.
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Old 03-05-18, 11:56 AM
  #508  
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Originally Posted by HerrKaLeun
I just started. Main motivation is because I like to work on bikes, learn things, want to see a bike being ridden as opposed going to landfill or just dusting in an attic. I have no delusion on making lot of money, my only hope is I could make some money to pay for shop supplies, and tools etc. If I was retired I may volunteer at a bike coop etc., but with child and a professional job I need to be able to do things on my own terms of scheduling.

I first put a CL ad up offering bike repair, upgrades, built of online bikes etc. but my wife got all nervous and talked about needing insurance etc. so I tabled that idea for now. So the next best thing would be to get old bikes, fix them or upgrade and sell... except I do it literally the way I want and no customer who will later claim I made a scratch on his bike etc. and no one will want it to be done the next day.

Problem is getting old bikes at reasonable cost.
1. Police auction seems bad here since they do that online through a NY company (I'm in WI!) and looking at that website they only had bikes in NY.
2. CL seems bad because there are the several thousand $ bikes (more expensive than similar bike from an online retailer), or the bikes that seemingly lived on university campuses but allegedly still should fetch $80 LOL. I also don't want to spend $ and time going to multiple people and deal with their price expectations for heaps of garbage. One potential issue with CL are stolen bikes - if the bike is relatively new I would ask to see a receipt or some other proof they bought it. Oh, and people think having mis-matched tires is an upgrade worth a lot of $ :-)

I put up a post on the neighborhood facebook site and got two paired (male and female of same type) 26" rigid fork MTB for free. Well, those are old, steelframe and rims, rusty, 5-speed freewheel, but seem to work. So I can clean, lube, repack bearings etc. and hope to get $20 or so. I realize this isn't really worthwhile, but will be a learning experience. the only thing making those bikes better than CL bikes is that they seem to have lived in a garage much of their life (still some rust, though).

If I'm lucky I come along some interesting bikes my size or my wife's size that I can upgrade and keep, or just keep for a while to see how i like it and sell if not. For example I never owned a drop bar bike and would need several long rides to see if i like one (no LBS test ride would tell me if i should buy a drop bar bike). One problem i have we only have a 2-car garage with little room to spare.so between our own bikes i'm limited to having 2-3 project bikes (and that is not convenient)

Not sure if the market changed, but it seems from older posts it used to be better for flippers. If I was in the market for a used bike, I would compare it to a new bike from bikesdirect, or Canyon etc. That kind of puts pressure on LBS brand used bike prices. Nowadays you get a lot of new bike for relatively little money and new bikes have all the things I want (hydraulic disc brake, tubeless etc.). All the old bikes Obviously don't have any such options, so even upgrading them will never make them nearly as good as new ones.

If anyone has good ideas to get inexpensive bikes in Madison, WI area, let me know.


If you are looking for different ideas on how to get bikes, check out this page: FINDING BICYCLES - INTRODUCTION
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Old 03-08-18, 08:53 AM
  #509  
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@wrk101, why would you buy ten bikes? Was that the condition of getting that #10 gem?
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Old 03-08-18, 05:10 PM
  #510  
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Originally Posted by wrk101
I've been buying/flipping bikes for about 15 years now. 2017 was my best year ever. The market always changes, what I did 15 years ago, or even five years ago, isn't working as well. So I have changed my game many, many times.

Good deals CAN still be found on Craigslist. Four keys:

1) you have to be more knowledgeable than others that are scanning Craigslist. I am often amazed the bikes that sit on Craigslist for days or even weeks.

2) It really helps if you can pounce quickly, any day, any time. Expecting deals to linger until it is convenient, and you can miss out.

3) shop while on vacation or while traveling. I pretty much ALWAYS find bikes when I travel. I run out of space before I run out of deals.

4) High priced bikes! Most C/L buyers want the cheaper stuff. A $50 POS bike that might only be worth $10 can sell fast, while a $500 bike that could be worth $1000 lingers. I bought a Colnago this way. Guy really needed cash NOW, was bike poor. He was asking $1000, so I went to look at it. Nice bike, I told him I thought it was worth it, but I just wasn't looking for an expensive bike. So I passed. He contacted me two weeks later, he still had the bike. Turned out I was the only person that even responded to his ad. We worked out a deal and I bought it.


Stop looking for the $25 to $50 stuff. No thanks. Start looking at the $300, $400, $500, or even $600 stuff instead. Every market has a price where vintage bikes stuff don't sell. Shop ABOVE that point. If you can get a $1000 bike for $500, why not? The profit potential is 10X the cheap stuff, and you only have one bike to fix versus ten, and you only have one bike to sell. I used to hang out at the $150 to $200 price point. Find a decent bike for $75, put $50 into parts and consumables, and five hours of time, and ask $175. And then have to take an offer, say $140. At that point, I was making $15 for my time.....Even if I got the bike cheaper, the economics were still mediocre. Heaven forbid I found a serious problem with the bike.

Exception to this pricing is old MTBs. Old MTBs sometimes go cheap, really cheap. While most of the cheap MTBs are not worth repairing, the parts can be valuable. I bought two old rusty Ross MTBs 1/1/18 for $75. Sold the pedals on one for $150, sold the pedals on the other one for $75. Sold the crankset on one for $75, thumb shifter set for $60, list goes on. I'll probably end up with at least $600 out of those two bikes, which had been for sale for a month. Had I refurbished them, at best, I might have broke even (and gotten zero for my time).


Scoring deals is ALL about knowing bikes and their components well. Its not about having some secret list of specific models or brands. Thats all most pickers know. You need to go beyond that. Last week I picked up a Volkscycle. Volkscycle? I had never heard of the brand before. But I know components, First generation Dura Ace crankset, first generation Dura Ace brakes and levers, first generation Dura Ace long cage rear derailleur, first generation Dura Ace bar end shifters. Were all those parts listed in the ad? No. But with a trained eye, they were there in the pictures. That bike sat on C/L for over a month.


Picking/flipping bikes is just like picking/flipping anything else. It takes knowledge, and the more you know, the bigger your advantage. Its not easy, but the rewards are pretty juicy for those with the knowledge. Most flippers are unwilling to spend the time getting knowledgeable. I know flippers that do quite well in a variety of markets. One guy flips Miatas. He pretty much knows everything there is to know about Miatas, has a stockpile of parts, knows how to fix them. Does quite well! Others flip houses and make money doing it. If I started flipping houses or Miatas, I'd lose my fanny on it. I do not have adequate knowledge or skills in either area. I'd probably end up with the stuff the knowledgeable people passed on. Bicycles is no different. You can't just randomly buy old bikes and expect to do well.

Particularly when time is at a premium, would you rather flip four high end bikes a year, or forty low end bikes? Both can net you about the same $$, one will take you ten times longer! And selling forty bikes is a time suck too!
Really good advice. "hit them where they ain't" is what they say in the car business when advising to buy unpopular models. Even when not looking for profit, just doing it for enjoyment, working on the cheap bikes isn't so great. It feels less fulfilling since there is no margin to actually make it better. The 2 bikes I got for free are steel Huffy bikes with steel rims, cup-cone BB etc. and some rust. I already had to bite the bullet and buy a freewheel removal tool (and learned there are many types, so unlikely to need that specific one again). and since I expect to sell them for $20 if I'm lucky, I don't replace cables. Just service hubs, BB, oil the cables, adjust brakes, and clean. At least gets me in the water and experience how the selling goes and learn something about bikes. (Mainly I learn to never take freewheel bikes again :-)

Once these are gone I'll look for some better bikes, maybe some that potentially could be temporarily my or my wife's bike so that I'm not too disappointed if I don't make money or it takes a long time to sell.
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Old 03-08-18, 05:49 PM
  #511  
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"(Mainly I learn to never take freewheel bikes again :-)"

I have flipped dozens of bikes and not once had to remove a freewheel. Don't restrict your purchases to non-freewheel bikes or you will be limiting both your targets and profitability. Easy enough to check a freewheel before making the purchase. Or if it is bad, tell the seller you want the bike but need to lower the offer by the price of a tool and freewheel. That's a legitimate reason to bargain.
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Old 03-08-18, 06:46 PM
  #512  
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Originally Posted by TugaDude
"(Mainly I learn to never take freewheel bikes again :-)"

I have flipped dozens of bikes and not once had to remove a freewheel. Don't restrict your purchases to non-freewheel bikes or you will be limiting both your targets and profitability. Easy enough to check a freewheel before making the purchase. Or if it is bad, tell the seller you want the bike but need to lower the offer by the price of a tool and freewheel. That's a legitimate reason to bargain.
I had to remove it to service the hubs. And it would limit any drivetrain upgrade options if the rest of the bike was great (which isn't the case here). The chainrings are full metal discs (no holes stamped out to save weight). Some bikes may be better recycled and the old metal made into new parts :-)

maybe I have to change my attitude for flipping, but my goal is to make the bike good, not great. A freewheel bike, with cup/cone Bb etc. is just not a good basis.
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Old 03-08-18, 07:10 PM
  #513  
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I think my favorite part of the flipping I've done is the fact that it's made me really appreciate some of the more basic bikes out there and how good they can be. Not all entry level rigs were made equal. Some really do make for sweet rides
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Old 03-15-18, 01:49 PM
  #514  
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For me, I remove the freewheels when needed. I don’t mind buying a freewheel bike if the deal is right. I limit myself to higher end bikes. Trek, Giant etc. they sell faster than Huffy. The biggest thing is to have an eye for faults when you buy the bike. Anything out of the ordinary and you can negotiate down or walk away. I usually turn them down if the paint is really worn badly. I don’t want to repaint a bike unless it is really worth it. When I sell a bike I aim to sell something that is good as new or even better. I have a had time sleeping if I sold something I wouldn’t ride myself
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Old 03-15-18, 06:19 PM
  #515  
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Wrenchspinnerjr I believe I met your opposite yesterday.

He had a Trek "ready to ride" for $100. When I got there it was missing the front tire and tube. Then I saw there was mud on it and the RD was bent in as was the right rear dropout. On his own he offered it had been fished out of the Welland Canal! Then I saw the front QR was so rusted it was seized to the forks. As politely as I could I told him I didn't want to insult him but maybe the brakes might be salvageable and that was it. I said it was a $25 bike. He became very angry and said he was insulted and now he wanted $150. I said I wasn't there to hurt his feelings but the bike was never going to be ridden again. He swore and said I was wasting his time which was valuable and I simply said sorry and walked away listening to him shout I owed him money for his time. It seems not everyone shares your concern for what they sell. I agree with you and I couldn't sleep either if I tried to sell an unsafe orjunk bike just for a buck from a sucker.
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Old 03-15-18, 07:20 PM
  #516  
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Originally Posted by WGB
Wrenchspinnerjr I believe I met your opposite yesterday.

He had a Trek "ready to ride" for $100. When I got there it was missing the front tire and tube. Then I saw there was mud on it and the RD was bent in as was the right rear dropout. On his own he offered it had been fished out of the Welland Canal! Then I saw the front QR was so rusted it was seized to the forks. As politely as I could I told him I didn't want to insult him but maybe the brakes might be salvageable and that was it. I said it was a $25 bike. He became very angry and said he was insulted and now he wanted $150. I said I wasn't there to hurt his feelings but the bike was never going to be ridden again. He swore and said I was wasting his time which was valuable and I simply said sorry and walked away listening to him shout I owed him money for his time. It seems not everyone shares your concern for what they sell. I agree with you and I couldn't sleep either if I tried to sell an unsafe orjunk bike just for a buck from a sucker.
The simple bastard might have wound up in the river where he found that bike.
I never buy bikes the way you guys do. No going to see it. Better be in front of me priced. I only buy in the wild!
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Old 03-31-18, 03:43 PM
  #517  
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Here is something most probably don't think about. Ebay has this nice picture sharpening feature, and if your digital camera isn't the latest, and greatest it really can help bringing out details that you really want to bring out. Obviously you will only do this with really good stuff.

There's an old joke about walking on the beach and why women keep looking at one particular guy, and another guy does the same thing the next day but nobody paid attention....both guys look about the same otherwise.......

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Old 03-31-18, 07:55 PM
  #518  
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Does that have something to do with a potato?
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Old 03-31-18, 09:27 PM
  #519  
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Originally Posted by curbtender
Does that have something to do with a potato?
More like a sock. But if you like that rough feeling.
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Old 04-14-18, 04:36 PM
  #520  
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I have a question that I'd like to ask. When it comes to selling bikes do you find it easier to sell and make a profit if you convert the bike to a single speed bike?
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Old 04-14-18, 06:01 PM
  #521  
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Originally Posted by Mr.Toolbox
I have a question that I'd like to ask. When it comes to selling bikes do you find it easier to sell and make a profit if you convert the bike to a single speed bike?
The boom for vintage road bike conversions to a single speed ended here about six years ago. So no. Maybe your market is different. Try it.
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Old 04-15-18, 06:57 PM
  #522  
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Originally Posted by Mr.Toolbox
I have a question that I'd like to ask. When it comes to selling bikes do you find it easier to sell and make a profit if you convert the bike to a single speed bike?
10-speed bikes were never designed or engineered to function as single speed bikes.

What I find is that brake lever extensions - those turkey leg things that allow the rider to access the brakes close to the stem while sitting up on the bike instead of bending over to reach the levers - are a big plus. When riding and commuting in city it is vital for riders, especially shorter female riders, to sit up as tall as possible on the frame and be visible over the roof line of cars in traffic. Safety, comfort and confidence.

Even an old blister like this becomes very attractive if it has decent brake parts:

https://www.dropbox.com/s/qn1zik2la8...0copy.png?dl=0

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Old 04-20-18, 04:51 PM
  #523  
oddjob2
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Originally Posted by Binky
Even an old blister like this becomes very attractive if it has decent brake parts:



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Old 05-08-18, 09:30 AM
  #524  
leemo
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it's tough

hard to make money flipping bikes
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Old 05-24-18, 10:32 PM
  #525  
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Hello
I have a vintage BSA racing bike that I was told was raced on a track in the 30's or 40's. Its a very unique looking bike and I think pretty rare.
Would you know where I may show this for sale?
I appreciate your help.
Thanks,
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