pricing a used bike

Page may contain affiliate links. Please see terms for details.

rivers

How far can I go?
Location
Bristol
I'm contemplating upgrading my winter bike to either a cyclocross or gravel bike with hydraulic discs, and selling specialized dolce. But I have no clue on how to even begin contemplating an asking price. It's still in good condition, with the usual wear and tear, but very much entry level claris. The wheels and tyres have been upgraded from the stock specialized own brand to shimano rs10s and rubino pros, i've upgraded the cassette and brake pads as well. Plus added mudguards and a rack. It was £600 originally. Thoughts, ideas? And no I'm not selling it for £1.
 

pjd57

Veteran
Location
Glasgow
Look around online and see what's for sale at say £300.
If yours looks better , look and see what's available at £400 , repeat as necessary .
 

Threevok

Growing old disgracefully
Location
South Wales
Looking on eBay they seem to go for the £200-£400 mark depending on size and year

Have a look on there and see if you can spot ones like yours and how much the asking price is

Not knowing that much about them - I think £300 starting price wouldn't be far away
 

alecstilleyedye

nothing in moderation
Moderator
a decent rule of thumb for a starting point is:

  • 50% of the original price minus
  • £10 for each year owned
this is only for 'normal' bikes, not classic or vintage which, using this rule of thumb, you'd be paying people to take the bike off you ;)
 

vickster

Legendary Member
a decent rule of thumb for a starting point is:

  • 50% of the original price minus
  • £10 for each year owned
this is only for 'normal' bikes, not classic or vintage which, using this rule of thumb, you'd be paying people to take the bike off you ;)
Unless it’s nearly new £300 would be ambitious. No harm trying but it’ll end up at what whoever is looking to buy is willing to pay. You’ll get more interest on eBay or a forum if you’re willing to courier. I’d start off local on Gumtree first
 

rogerzilla

Legendary Member
a decent rule of thumb for a starting point is:

  • 50% of the original price minus
  • £10 for each year owned
this is only for 'normal' bikes, not classic or vintage which, using this rule of thumb, you'd be paying people to take the bike off you ;)
To be fair, most classic bikes won't sell for any profit after restoration. Just ask the people on retrobike. You do it because you love the bikes, or because it's a lot cheaper to restore an old steel frame than to buy a new one of similar quality.
 

Soltydog

Legendary Member
Location
near Hornsea
What size is it, Mrs SD may be looking for a 'road' bike & if the price & size are right I may be interested :okay:
 
Take a long hard look at it and think of some £numbers. Just off the top of your head.
1. How much you think it's worth. In the used bike market. Roughly.
2. What would be a 'reasonable' price to sell it for.
3. What's the absolute minimum you'd accept for it.

Then, starting with it's full retail price (not what you bought it for). Two thirds of original retail price as a baseline - being the value of the brand new bike when you very first rolled it out of the shop..
Then multiply it by a condition value: 0.9 being excellent used condition > 0.0 being scrap
Then less 10% per year.
Upgrades and accessories might swing a buyer but have no more than 25% of their original retail value - and probably a lot less.
Then round it up to arrive your nominal selling price. Compare this figure with the numbers you generated at the top. Hopefully not too far away. Tweak your figure up/down to settle on one that you're happy with.
Add 5/10% to give the buyer some haggling room. This is your public selling price.
Add in £20 which is my fee for sitting here typing this. You're welcome.
If selling on ebay and are not in a huge rush to sell, put it on 'Buy it Now' for more than your public selling price - enough to account for ebay fees plus £50 or £60.
Use the automatic price dropper facility which reduces the price by a small amount every week. All the watchers will be notified of every price drop.
Share the listing around social media and ask friends and fams to share it.
If it doesn't sell before your $50/£60 buffer has been used up you'll need to reappraise.
Now is not a good time to sell a bike BTW - the first sunny weekend before Easter is optimal if you can wait that long.
 

glasgowcyclist

Charming but somewhat feckless
Location
Scotland
If you lost your current bike, how much would you (honestly) pay for the same model, of the same age and in the same condition?
 

PaulSB

Legendary Member
Some of my cycling buddies look around to buy second hand bikes. Their experience is prices are rock bottom for very good quality machines. One friend offered and paid £250 for a Cannondale which turned out to be pristine and ridden 2-3 times. It was advertised at £900. The owner had lost all confidence and simply wanted rid.

Summer 2017 I was looking to help my son with a bike he needed to commute. I paid £75 for a virtually new bike with a retail of £350.

Your problem will be there are thousands of unwanted quality bikes available secondhand, often from people who took up cycling in a wave of enthusiasm they couldn't maintain. For those who know what they are looking for there are real bargains to be had. It's a buyer's market. A used bike with a retail of £600 with the "usual wear and tear" is very unlikely to reach what you feel it's worth. Be very realistic and don't agonise over the price.

I've two bikes in my garage I rarely use. When they were upgraded I knew selling was pointless as their value to me for occasional use is/was far greater than the realistic selling price.
 
Last edited:
Top Bottom