We all know that we’re going to need to sell our existing bike to finance the purchase of a new one. The most common query is how much is it worth?
If you have a motorcycle that you’re no longer using anymore and it’s in your garage, you might be surprised at how much it’s worth.
If you’re planning on selling your bike privately, how can you be certain that the asking price is fair?
It’s a question that we get asked a lot, and one that we’re happy to answer.
A motorcycle valuation involves a number of factors that can affect its value. Understanding these and how they can impact it is important to ensure that you get the best possible value for your bike.
Our network of motorcycle dealers will bid for your bike, meaning you will get the true value of your motorbike.
Although a motorcycle is generally considered to be worth what a buyer would pay, there are various factors that can affect its actual value.
In this article, we’ll talk about the various factors that affect the value of a motorcycle. You’ll also learn how to get an accurate bid on your bike.
How Valuations Are Calculated
Over the past ten years, we’ve been buying and selling thousands of motorbikes. Our team of experienced motorcycle valuation experts are always happy to answer questions about how they arrive at estimated sale price.
We typically start by looking at the following areas when it comes to figuring out the value of your bike.
- The Make and Model
- Age
- Mileage
- Service History
- modifications
- Motorcycle Condition
- Time of Sale
- Previous Owners
- Warranty
In this section, we’ll take a deeper dive into the various factors that can impact the value of your motorcycle.
Motorbike Make & Model
The make and model of the motorcycle have an impact on the value of a vehicle. Based on the current market value, a resale price can be established.
A motorcycle that was cheaper when it was new may be worth less than one that was a higher end model. However, this is only a starting point and other factors will have to be considered when determining its value.
The value of a motorcycle depreciates significantly once new models are released. This happens often during the winter shows, when many manufacturers begin releasing new models.
If you’re considering an upgrade to a certain model, you might be able to get an advantage by selling your bike before it becomes dated. With a rough guide around two years old, it’s generally considered that a current model is becoming dated.
Mileage
The mileage of your bike is a common factor that can affect the value of your vehicle. It’s important to note that this figure is compared to the average mileage for a similar model of a similar age.
Typically, a motorcycle will average around 4,000 miles yearly. However, this figure is not set in stone, and it’s a good idea to use it as a guide to see if the bike has performed more or less well than expected.
Although it’s normal for a buyer to base their decision on the vehicle’s mileage, it’s important to remember that a good condition bike with a full service history can still be more appealing than one with a poor one.
Keep in mind that a motorcycle with a higher mileage may sell for less than one with a similar model with a lower mileage.
The less miles you’ve accumulated on your bike, the higher the value of your vehicle will be.
Condition
One of the most important factors that can affect the value of a motorcycle is its condition.
A motorcycle with a good overall condition will sell for a higher price than one that is in poor shape. It’s all about the appeal of the bike to a potential buyer, and one that has been looked after properly can be an easier sell.
The good news is that most motorcycle owners are satisfied with their rides. They’re proud of their bikes and are happy to have them in pristine condition for many years.
Another important factor that can affect the value of a motorcycle is its perceived condition. Having it look its best can also help attract potential buyers.
If you’re thinking about selling your motorcycle, make sure that it’s not in poor condition. It’s not acceptable to show off a dirty bike, especially one that hasn’t been given the TLC it requires. Doing simple tasks like washing and detailing can help attract potential buyers. A dirty bike that requires regular maintenance may sell for less.
If you’re selling your motorcycle, make sure that it doesn’t suffer from cosmetic issues such as scratches or dents.
Before you put a price on your motorcycle, make sure that it includes the cost of repairs or any cosmetic issues that may have occurred. If the cost of these repairs exceeds the current value, you might want to let the new owner handle the repairs.
Make sure that you’re transparent regarding any issues that may affect the value of your motorcycle.
Any mechanical or superficial damage to the bike will likely reduce its value, as it will require immediate repairs before it can be offered to a new buyer. On the other hand, a bike that’s been kept in mint condition will not have any issues with its value.
Age
It can be hard to estimate the value of a motorcycle due to the common belief that every model will depreciate over time.
This belief is based on the assumption that newer bikes have better mileage and are in better shape than their older counterparts. On the other hand, newer models will generally have higher resale values than older ones.
Although the depreciation rate for different models varies, it’s still important to note that even if the bike has been kept in good condition, its age can still affect its resale value.
If you’re a collector or classic bike owner, then your vehicle’s value may increase with age.
Service History
Performing regular maintenance on your motorcycle can help maintain its value.
When it comes to calculating the value of a motorcycle, having a full service history can help you get a higher asking price.
It’s also important to keep a record of all of the paperwork related to the motorcycle’s history, even though it may seem unnecessary at first.
Demand
Understanding the market demand for your particular model can help you sell your motorcycle at a higher price.
Although it’s not always possible to determine the exact value of a motorcycle, it’s still worth taking a look at the Internet to see what other options are available for sale. If there are a lot of similar bikes for sale on eBay and other sites, this means that there’s a surplus of these types of vehicles.
If you’re not able to find a lot of similar bikes for sale, then it’s possible that the demand for the model is strong.
This is especially important if you’re selling a rare model, as potential buyers may be willing to spend a little more for the opportunity to secure the prized bike.
Time Of Sale
The time of year when it comes to selling a motorcycle can also have an impact on its value. As mentioned earlier, the demand for leisure riders’ bikes typically peaks during the spring and autumn before they hibernate until winter.
During the summer season, there’s a lot more inventory available, which pushes up the supply levels even though fewer riders buy during the winter season.
Generally, a rarer model will be less affected by seasonal factors than a more common model. If the demand for these types of bikes is strong and the supply is low, you might be better off selling rather than holding on to it.
Previous Owners
Before putting a motorcycle on the market, it’s important to consider the number of previous owners. Although this can mean a lower value, it may not always be a significant factor.
If you’re not sure how many people have owned your motorcycle, you can check the logbook to find out.
Warranty
If your motorcycle is still relatively new, it’s possible that it still has a warranty, which can boost its value.
Modifications
Most motorcyclists prefer to buy a used motorcycle that is in as near to its original condition as possible.
This is because modifications are a personal preference, and one in its original stock condition will typically be more valuable.
If you have made any modifications to your bike, it’s still important to keep the original components and return it to its original condition before selling. Doing so can allow you to earn extra cash while also selling the aftermarket parts.
Older models that are in original condition are often more appealing to potential buyers than those that are not.
bestbikebid.com provinetwork of dealsers can bid on your bike and give you an offer that’s fair and reasonable.