As many of you have realized, it's a "sellers market" right now for new and used bikes. People are turning to buying bikes because it's one of the few "freedoms" we have right now during the COVID-19 lock-down.
As such, I sold 4 bikes this Spring (which totally surprised me) so I thought I'd share my selling experience tips. Feel free to post your selling tips as well.
Tips for Selling a Used Bike- Craigslist is Still King
I posted my bikes on PinkBike.com, eBay (local pick-up only to advertise the bike, but not pay seller fees), and Craigslist. ALL of the bikes sold because of Craigslist, so posting on the other sites was likely a waste of time for me. The nice part about Craigslist is that you obviously have no seller fees, but please be safe when selling your bike in-person. Consider having alcohol wipes handy, keep your distance from the potential buyer, etc.
- Clean your bike!!!!
If people are going to spend top-dollar for a bike, they at least want to feel like they've bought something of value. I can't believe how many people put bikes for sale that are dirty messes that look like they've been abused.
- Post a LOT of pictures.
Make sure there are no surprises to the buyer. Take pictures of the "important bits" on the bike, like the drive train, brakes, wear items, etc. (Tip from Jicafold) You can upload a lot of pictures on Craiglist, so take advantage of that. Also, make sure the pictures are decent, well lit, and clear. I won't even bother inquiring about a bike when the seller took blurry, dark pictures that hardly show the bike.
- Post pictures of the bike exactly as it will be sold. (Tip from Beach Bob)
Too many ads show photos of bikes that won't actually be sold as is. For example, you see that awesome road bike with deep, carbon wheels for a crazy good price only to read in the ad that the wheels aren't part of the sale. Avoid "bait and switch" techniques like that!
- Be honest about any issues.
I post pictures of any scratches or issues I can find so the buyer isn't surprised and describe any issues in the description. For the most part, the bikes I sell are like new so this isn't much of an issue.
- Post a lot of details.
If you don't post details, like the year of the bike, component sizes, etc., you'll get bombarded with questions that don't result in sales. Post all the details to "pre-filter" buyers who won't be interested anyway.
- Be patient if you know what you've got.
I've been into bikes for ~30 years and have a gut feel for what my bikes should be worth. As such, I don't let Craigslist buyers dicker on price (which they will... believe me they will!) The hard part about being firm on price is that it may take time to find the right buyer. My Trek Crockett was for sale for about 6 months before it sold, but I got what I paid for it!
- Be clear about payment BEFORE showing the bike.
This was the biggest issue I had with selling. People would show-up to buy a $2k bike, but want to pay with a personal check. H#ll-no! No personal checks, no money orders (they can be faked). Tell the buyer what payments you'll accept prior to meeting. I found the following payments to be the only acceptable: Cash, meet at the buyer's bank and cash their check to get cash before releasing the bike, or use PayPal where the buyer sends you money as "Friends and Family" and must pay with a bank account and not and credit or debit card (This prevents you as the seller from being charged a transaction fee).
- Is price "firm" or "negotiable"?
If you know what your bike is worth, specify "Price is firm" clearly in the ad. You'll still get low-ballers, but less of them. If price is negotiably, make that clear as well. (Tip from AlmostTrick)
Good luck selling! If you have any other seller tips, post-up!