Are you considering putting your motorcycle up for sale? Even though it could be difficult to leave with the priceless memories you’ve created with your bike, this is the ideal moment to sell. The value of used motorcycles that are now for sale has been maximized due to the present market’s strong demand and short supply. Cycle Trader is breaking down the present market conditions and offering four ideas for selling your used motorbike during a dearth of inventory to assist private sellers fully comprehend and take advantage of this exceptional period in the industry.
Buying and selling used motorcycles
- High Motorcycle Demand
The dearth of fresh riders purchasing used motorcycle caused the motorcycle industry to be in upheaval prior to the COVID-19 epidemic. While some well-known businesses saw an increase, others had decreased sales. But when the epidemic struck, motorcycle sales spiked as many riders looked for motorcycles as an alternative to public transit to adhere to social distance rules, while others just wanted fresh experiences amid stay-at-home advice.
These elements had a part in the record-breaking demand for motorbikes. Before the epidemic, in 2019, motorCycle Trader received 52.5 million visitors annually. These visits grew by 18% to 61.8 million in 2021. Similar to this, between 2019 and 2021, visits of car detail pages increased by 19% and impressions of search result pages increased by 36%. It was obvious that motorcyclists yearned for independence on the open road more than ever.
- Lack of New Bikes Supply
Despite the sales surge being welcomed by the motorcycle industry, dealers were having trouble obtaining enough new inventory to match the escalating demand. In-market inventories fell by around 30% from 2019 to 2021. 1 Although production is gradually increasing, retailers are vying for motorcycles to offer to the general public in the meantime.
- The use of used Motorcycles Rises
Because there are so few new motorcycles available, many customers have no choice except to purchase old bikes. The price of used motorcycles has increased as a result of the strong demand and poor supply. New model searches on the Cycle Trader marketplace rise by 17% from 2019 to 2021, while used unit searches rise by 51%.
The price of used motorcycles is set to rise even when manufacturers release new models for 2023. If you want to earn a great profit and clear up some room in your garage, now could be the ideal moment to sell your motorcycle. The following four suggestions from Cycle Trader can help you sell used motorcycles.
Advice for Selling a Motorcycle During a Shortage of Inventory
1. Pay attention to online marketing
One of the best methods to sell your bike quickly is to list it on an internet marketplace. When you post a listing on a reliable website, online marketplaces may link you with customers from all over the nation. To get a customer’s attention, your description should be as detailed as possible regarding the motorcycle you are selling and include excellent images. The listing’s level of detail will determine how quickly you discover the ideal buyer.
2. Sell to a Dealer next
Dealers are focused on buying and selling used motorcycles, as we have reported. Many dealers have begun contacting used motorcycle private sellers directly to enhance their for-sale inventory since there aren’t enough units to sell.
One of the biggest advantages of selling to a dealership is that you won’t have to worry about checking a buyer’s credentials and payment, as well as the time-consuming paperwork that comes with selling. On marketplace, locate a nearby dealer who will purchase your old motorcycles.
3. Repair your Motorcycle
While you might not notice any flaws in your bike up for sale, a less emotional buyer could. Look closely at your motorbike for self-repairable issues including seat rips, faded paint, dim headlights, fractured brackets, and worn tyres. Shine up your vehicle to make the finest first impression in images. When it comes to receiving the best price, making the extra effort to make your bike look brand-new can make a significant difference.
4. Conduct market research to determine the best prices.
The price you choose for your motorcycle might influence how fast and painlessly the selling process goes. Even if used bikes have a great value, you still need to do some study to be ready. To get a sense of how much motorcycles are going for, compare prices for similar motorcycle types and models with similar mileage and engine capacities.
There are handy tools to assist you decide a fair price to market your used motorcycle if this seems overwhelming. Your motorcycle valuation may be quickly and easily obtained online with Cycle Trader’s Motorcycle Valuations powered by J.D. Power. You only need to input the brand, model, and year of your motorcycle to receive a real-time valuation without ever setting foot inside a showroom. It is rapid, practical, and cost-free.
This can be the ideal moment for you, the seller, to obtain the maximum money for your used motorcycle because dealers are still dealing with rising demand and a lack of inventory. You may maximize this by taking advantage of the existing market, using web promotion, and selling your bike affordably.
