How to increase the resale value of your bike

For most people getting a new bike means getting rid of the old one. They want to maximise the money they receive for flogging their old bike. Here they give you tips on how to increase the resale value of your bike so you have more money to spend on the next one and avoid haggling over the price.

Invest in tackling key mechanicals to maximise the amount of cash you have available for your next bike. If you're a competent mechanic, a complete overhaul would be brilliant. Otherwise, make sure everything is safe and works correctly.

How to increase the resale value of your bike. If you have cosmetic problems with your bicycle, consider getting them fixed. Buying a bike with certain items might increase its value. If replacing a chain costs £25 - $30, the value will be reduced.

Knowing how to clean your bike is one of the easiest tricks to increase the resale value of your bicycle. Cleaning a dirty bike doesn't mean it's not mechanically sound. It's possible to have a sparkling bike that's absolutely wrecked mechanically.

Find the best place to sell your bike. eBay is expensive and has a tendency to side with buyers. Gumtree, Craigslist and Facebook Marketplace are free to use. There are also marketplaces that verify the bikes they sell. In the USA, there's The Pro's Closet, which takes your bicycle in part exchange for another purchase.

Make an attractive listing. Add a brief description of upgrades and an honest appraisal of the bike’s overall condition. For the photos, find a nice venue with a neutral background and lots of light. Take inspiration from the pictures in our bike reviews.

Bikes lose 20-30% of their value the second time they are sold. Unmodified bikes command the best price. People who list the thousands they've spent on their bike and deduct 10% are not going to have much success.

How to increase the resale value of your bike. People buy bikes in spring and early summer. Many brands release new models after August. Winter is not a good time to sell any style of bike, so you should sell before the update by the manufacturer. It's possible to break a bike down into individual components and sell the lot for more than you'd get for the complete bike if you're willing to spend more on the repair.

The first person to turn up and pay gets the bike. Ask people for a small deposit via PayPal if they want you to hold on for them. Try and call people as this creates a greater chance they will keep their word.

Bikes are stolen items. It's not unheard of for villains to pose as buyers and steal your bike when viewing it. Consider where you want to meet. If you're worried about people spying on your garage full of kit, choose a public place. Calling and talking to the prospective buyer will give you a good insight into the sort of person they are.