One of the most difficult tasks when selling a bicycle is to determine the right price. You want to get a reasonable price for your old bike, of course, but you also want it to be attractive enough to potential buyers in a timely manner. Essentially, one determines the selling price with the following steps:
1. determination of new price of the bike
The price of the then-new bike is one of the most important clues to determine the selling price. If you have already bought the bike used and do not know the new price, it is worthwhile to research online or search for your model in the database of buycycle, where you can find all new prices.
2. consider the age and condition of the bike
Similar to a used car, the value of a bicycle decreases with age and wear. It is imperative that both factors are taken into account, since, for example, an 8 year old bike that has hardly been moved and is in very good condition is worth just as much as a 2 year old used bike (same new price), which, however, has already been heavily worn.
3. consider brand and model
Here, too, there are analogies to the automotive market in the bicycle sector. Popular brands (such as Canyon, Cube, Specialized) and especially their popular models (e.g. currently especially the gravel bike models of the popular suppliers) are more in demand than unknown brands and models. More demand leads to a higher selling price.
4. research of comparable advertisements
On common sales platforms, you can search for your bike and see which advertisements are posted at which prices. This superficial market research helps to validate one's own selling price and can also help in checking step 3. Popular brands and models are offered more expensively than lesser-known sellers.
5. negotiation basis for fine tuning
Last, of course, it always helps to advertise the used bike with a negotiable price. If one receives first counteroffers, this gives an assistance with the determination of the really attainable price. But here also caution is required. On platforms such as Ebay Kleinanzeigen, there are often "cheeky" requests with unrealistic prices. One should not be irritated by this. The process described above can often be time-consuming.
The buycycle team has reduced this effort. There, with a short selection of the bike, one can receive a price recommendation for the used bike within one minute. The self-learning algorithm takes into account the aforementioned factors such as new price, condition, age, market situation, time of year, search volume and the selling prices of similar advertisements when automatically determining the price.