How Much Is My Motorcycle Worth?
Posted: Jul 27, 2015
It can be difficult to put a dollar value on your motorcycle when you want to sell it. There’s a lot of information on the Internet about how much other people are asking for their motorcycles, but that’s not the same as finding out how much they’re actually selling their motorcycles for. In some case, they’re not ever able to sell their bikes at the prices you see listed, which make it dangerous to follow their lead when you’re asking yourself how much is my motorcycle worth. Motorcycles are worth only what other people are willing to pay for them, and listing prices really don’t matter that much.
First Ask How Much is My Motorcycle Worth to Me
This sounds a little silly, but it’s useful to ask yourself what you’d pay for your motorcycle if you had to purchase it today. Of course you know exactly how much you paid for it when it was new, and you know better than anyone else what kind of condition it’s in. It’s important that you don’t inflate the value of the motorcycle simply because you remember all the fun you’ve had while riding it. Those memories don’t add any value to the bike for a stranger. Just ask how much is my motorcycle worth as if you were going to pay for it right now.
Now Ask How Much Is My Motorcycle Worth to a Wholesaler
There are plenty of motorcycle wholesalers like Thebikebuyers.com that will buy any motorcycle, no matter how old it is or what condition it’s in. They’re a great place to get a number instantly. They appraise motorcycles all day, every day, and they’re willing to put their money where their mouth is, so their opinion carries more weight than simply scanning the classified ads. You might find that their offer is enough to make you skip selling the bike on your own in the private market, and you’ll get your money right away. No matter what, you’ll have a firm offer on your particular motorcycle.
Now Ask How Much Is My Motorcycle Worth to a Dealer
For the most part, motorcycle dealers are only interested in buying your used bike if you’re going to purchase a new one in return. They will make you a much higher offer on a trade-in because they know they’ll make money on selling you a new motorcycle. Much like contacting a wholesale buyer, asking motorcycle dealers for a number for your bike is worth your while, as there is no obligation to sell it to them if you don’t like their offer. You can compare it to the other estimates you have of your motorcycle’s worth to form a clearer picture.
Now Ask How Much Is My Motorcycle Worth to a Private Buyer
Most people get the highest price for their used motorcycle if they sell it on the private market, but only if they price it correctly and are willing to wait for a long while to complete the sale. There is actually a lot of work involved in pricing, advertising, and selling a motorcycle, and you might be forced to spend some money out of pocket. If you want to be able to price your motorcycle to appeal to the general public, it’s important to put yourself in their place when you appraise your bike for sale. By this time, you’ve probably gotten prices from other sources, but now it’s time to put your own price on it. In order to price your motorcycle appropriately, look at it the way a buyer would look at it. Here’s what potential buyers will be looking at when they inquire about your bike, and come to inspect it:
Has It Been in a Wreck?
If your motorcycle has been repaired after an accident, even if it was a minor accident, you should be fully candid about it with a buyer. If the repairs have been made properly, and you’re upfront about it, the buyer might discount the value of your bike a little, but that’s much better than losing trust. If a potential buyer comes to inspect your motorcycle and discovers hidden damage, no matter how minor, you may lose the sale entirely, and any offer you do receive will be lower than it would be otherwise.
Has It Been Serviced Regularly?
Any buyer will want to see receipts that prove that you have kept up with maintenance and repairs on the motorcycle. Don’t rely on vague promises that you serviced the bike. Find receipts for things like oil changes and have them handy when buyers come to inspect the bike. It might also be worth your while to bring your bike to a dealer or mechanic and get a written appraisal of the condition of the bike. A cursory inspection from an expert will only cost you a few bucks, but it will put a potential buyer at ease.
Has It Been Raced or Abused?
If you’ve been hard on your motorcycle, you shouldn’t lie about to a potential buyer. Once again, if they come for an inspection and discover you’ve hidden something, they may not make you any kind of offer. It’s much better to price your motorcycle appropriately and be honest about the condition it’s in than to get caught in a lie that nixes the whole deal.
There are many ways for a bike buyer to tell if you’ve been racing or abusing a motorcycle. Some easy ways are to look at the inside of the rear fender with a flashlight to see if there are bits of rubber on it from burning out. The sidewalls of both your front and rear tires can become raggedy from hard riding or racing, and it’s bound to be cheaper to tell the truth than to change both tires. If your rear tire is perfectly flat in the center, the buyer will be able to tell if you’ve been burning out. If you race or otherwise abuse your bike, there may be evidence of it that shows itself in tiny cracks in the frame and finish, especially along welds. Even if the buyer misses it, if they take it to a mechanic to have it inspected, they’ll probably notice it.
Determining How Much Is My Motorcycle Worth By Averaging
By this time, you have numbers from many sources. An easy way to determine an appropriate asking price is to average all the numbers together. That way, it will be within the ballpark for all buyers, and you may end up selling it faster than if you held out for more money.
I write on many diffrent topics. Follow me to read all great articles.