Bike Selling Tips
If you’re reading this, then probably you’ve made up your mind to sell off your bike for whatever reasons – getting a new bike, upgrading to a more powerful one or maybe even going for that hot new car you’ve always wanted. Whatever the reasons, here are some tips which will help you get started with selling your bike, to ensure that you not only get the best deal but also to make the selling process as smooth as possible.
Before you start putting the word out that your bike is on sale, the first thing you should do is prepare your bike and paperwork properly. Get the bike into the best condition possible. Roll up your sleeves and give the bike a top to bottom clean. And this doesn’t mean just taking the bike to a high pressure wash and a customary polish. Get into every nook and cranny with a brush and get the details gleaming. Spend some to get into the difficult to get places as well, like the swingarm and wheel hubs.
If you’re planning to post pictures online, take close up photos of details which you have painstakingly cleaned. In the eyes of the buyer, a clean bike is a well maintained bike, and that’s always a good thing.
Once it looks good, check the bike visually once again from one end to the other. Check tyres, oil, electrics and chain to make sure they are in working order. If the seat is torn, consider putting on a seat cover. Ensure all lights, horn and electrical are in good running order. Check for loose bolts and nuts – it’s a good idea to tighten all nuts and bolts and give them the once over. A fairing rattle or a rear fender making more noise than the exhaust isn’t something anyone wants to hear when you start up the motorcycle in front of a prospective buyer.
If you haven’t used the bike in a while, it is a good idea to get it serviced as well. While at it, whether you are doing it yourself or getting it serviced, tighten all nuts and bolts, including the fuel tank mounts, handlebar, turn indicators and fenders. Make sure the bike starts well. There’s nothing worse than dealing with a starting problem when a prospective buyer lands up.
If you’ve been maintaining records of service history, dig them up. Any receipts or documents relating to miscellaneous spares like a replaced battery, brake pads, oil pumps etc will ensure in the eyes of the prospective buyer that your bike has been maintained well, with regular services. Have other important documentation ready, like registration certificate, pollution check, insurance policy and warranty for battery, etc.
A clean, good looking bike, documents arranged neatly in a folder along with owner’s manual, spare key and toolkit makes an impression that you have cared for the bike, and will immediately increase its value in the prospective buyer’s eyes.
Before you spread the word about selling your bike – whether through people you know or posting an ad, know the value of your bike. The first thing you can do to find out how much your bike is worth is to sift through online classifieds. Check prices of bikes of the same make, model and model year. Check out more than one or two online resources to get a fair idea of what the going rates for similar bikes are. It’s always a good idea to sign up on online motorcycle forums and check out the ‘buy and sell’ sections to get an idea of the prevailing prices in the market. Discussion forums provide a lot of insights, not only to selling or buying a bike but also to other aspects of motorcycling, including common problems, defects and a variety of do’s and don’ts.
The second thing you should do is visit a used bike dealer with your bike. Don’t let out that you are planning to sell the bike, otherwise you may fall to an immediate offer from the dealer and let go of the bike at a price much lower than what you would have otherwise got. Say you are looking to buy one and look at a few bikes (preferable other models) and then nonchalantly ask how much the dealer thinks your bike is worth. This way you’ll get an idea about the value of your bike. But remember, the dealer will keep a 10-20 percent commission in mind as well when he quotes the price for your bike. After all, he needs to make a profit while selling your bike to his customer.
Finally, another place where you can get a good valuation done is your friendly neighbourhood mechanic or service centre. If you get your bike serviced from a mechanic or authorized service centre, invest some time in getting to know the guys at the service centre. Being friendly with these guys not only help getting a smooth service experience while you’re at it, but they also give good tips on bike maintenance and other general information about your bike. And when it comes to selling your bike or getting to know the right value, these guys have a fair enough idea about the going price and may even be able to hook you up with a prospective buyer.
Now that you’ve roughly figured out the value of your bike, start thinking at what price you will be willing to sell it for. If your bike is immaculately maintained or have had a set of new tyres installed recently, keep those things in mind. But always be realistic with the price you ask for. Set the price too high and buyers will move on to the next bike, set it too low and buyers may think it’s not worth a look. A thumb rule is to quote about 10 per cent more than what you expect to let it go for. This way, the buyer would be satisfied he got a good deal, at about 10 per cent less than what you had quoted and you will be happy you got the price you had in mind all along.
Lastly, decide how and where you want to sell the bike. If you’re going to sell it through a dealer, they will take a cut but will do all the work for you, including paperwork relating to transfer of ownership, etc. If you were to sell it yourself, you may have to take some time out to sign papers, and even visit the registering authority office to get the transfer of ownership done.
One you’ve decided on the price, it’s time to decide where you are going to put the bike up for sale. In addition to local newspapers, or even the neighbourhood yellow pages, there are plenty of magazines and websites which host such classifieds. Consider putting up a bulletin board post on your neighbourhood mechanic’s as well, with a picture of the bike and contact number.
Wherever you decide to advertise, always try to put up your ad with accompanying pictures. A picture speaks a thousand words and a sharp picture of a good, clean looking bike is half the battle won in attracting prospective buyers. Remember, bikes with photos sell better than without. And ensure that photos of your bike are good quality photos and not taken by a low-res old mobile phone. Remember to keep the background free of clutter when you’re shooting photographs.
Also include close-up photographs. If the paint on your bike is original but has a few scratches, show them in close up pictures. Buyers will appreciate your honesty. It is important to give as much information about the bike as possible, including the exact model specification and year of manufacture. Mention mileage, ownership (if you are not the first owner) and usage (single owner usage or used only for touring) in your ad copy.
Stick to the offer price as long as you can, after all, each buyer will be out for a bargain. But of course, you also want the highest price. Even if you are desperate to sell the bike, don’t sound it. And try not to get tempted and sell it to the first buyer who turns up, unless they offer the full asking price in cash!
It’s a good idea to always deal in cash and ask for full payment. Be reasonable. If the buyer seems to be a sincere one, ask for some holding money and agree on a certain timeframe (a few days at the most) to hold the bike, so that the buyer can arrange the rest of the money. If the buyer wants to take the bike away then and there, ask him to pay the full amount in cash. It is the only real security and it’s easier for both parties to settle the amount before you hand over the keys.
Lastly, but most importantly, be careful who you allow to take the bike out for a test ride. It’s only natural that your prospective buyers would want to take a short spin to see how the bike performs. Before you allow anyone to take the bike, ensure the person has a valid driving licence and has some experience in riding bikes. Use your common sense – if you’ve any doubts at all, don’t let the bike out of your sight – it might not come back again.
