The Ultimate Guide for Selling Your Vintage Motorcycle
If you’re a long-time owner of a vintage bike, you’re probably thinking of the best way to sell a motorcycle and turn your prized possession into a great sum of money. However, selling a vintage bike is not a walk in the park, as you will have to find motorbike enthusiasts that are eager to make your vintage bike a part of their motorcycle collection.
The most significant advantage of selling a vintage bike also becomes its biggest challenge to get it sold: its marked-up price.
If it is your first time selling an old motorcycle, read this article in full to serve as your ultimate guide in selling a vintage motorcycle. Learn the best ways and practices in motorcycle selling so you won’t end up frustrated waiting forever for a buyer that will never come.
As the value of your vintage bike appreciates, do not become overly excited to get it sold. One principle you have to keep in mind when selling an old bike is this: the higher the price gets, the fewer buyers you have. This is because not a lot of people would want to invest in an old motorcycle.
Can you think of a person who would buy an old bike for a high price when they could get a brand new, high-end bike model with the same price? It’s not surprising that your target audience is limited. So be patient while waiting and looking for the right buyer to come and give you good fortune.
Set A Good Price
Your old motorcycle should have a practical and accurate valuation to get sold; make sure the price tag is not too low and not too high. You must value your bike correctly for it to be sold to satisfy your need as a buyer and to meet your buyer’s preferences.
Some of the things you can do to find a reasonable price estimate for your vintage motorcycle include reading insightful blogs and articles on pricing old bikes. In principle, a unique and collectable old bike is a more complicated unit to give value to as you get only a limited compatible sales comparison to use.
Another way to help you determine a price for your old bike is to look for records of historic auction sales and look for a bike model similar to yours. But your best weapon in pricing, after all, is your judgment. Your bike, your call. Just remember to consider the two valuation principles: market value and economic value. Strike a balance between the two.
Find Your Target Market
Selling an old motorbike is a lot harder than selling a new one for many different reasons. One of them is the limited market of your item. This means you need to exert a significant effort to look for buyers.
Find out where vintage motorcycle collectors lurk for good finds. Build connections with people in the industry who could give you leads. The internet is a big network where potential buyers are just a click away, and there are niche websites for buying and selling vintage motorcycles. Join all of them.
You can also opt for companies that give sellers like you a platform to showcase your high-end collectable motorbike. Auction houses are a good place to look for that one person who is willing to pay for a vintage bike. Be mindful of the fees these auctions charge, which can be much higher than sales websites. It’s a high risk, high reward exposure for your old bike to find its new owner.
By pricing your motorcycle right, exerting effort for exposure to find your buyer, and being patient with the daunting and tiring buy and sell process of a vintage motorcycle, you will undoubtedly find the right person at the right time.
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