How Much Is My Bike Worth?
How Much Is My Bike Worth?
If you’re considering selling your motorbike, one of the first questions that springs to mind will be ‘how much is it worth?’. This can help you decide whether you’ll sell, and if you sell, how much cash you’ll have when looking for a replacement bike.
Bike values depend on a range of variables, from make and model to condition and market demand. A bike valuation can refer to the trade value, private sale value, or retail value.
Our guide will explain how bike valuations work and how much you can expect to get for yours. Let’s get into it.
The Average Value of a Used Motorbike
It’s incredibly difficult to apply a one-size-fits-all figure to the average value of a used motorbike in the UK, but naturally there are some averages. As a rough guide, most used motorcycles are valued at somewhere between £2000 and £6000. Small commuter bikes and older bikes tend to sell for less, while new, premium models can sell for even more.
Old or non-running bikes generally sell for very little, but they can still be sold for parts or if the model is particularly unique. Marked demand and season play a part in the valuation, too. Used bikes sell best in spring and summer, so waiting until these seasons to command a higher price is worth considering.
What Factors Affect the Value of Your Bike?
No two motorcycles will be valued exactly the same; there’s a range of features to consider when you put one on the market. Typically, a valuer will look at:
Make, model and year. Some brands and models hold their value better than others. Popular manufacturers as well as reliable models might be valued higher than alternatives, even if they’ve got higher mileage. The year of registration affects the price because newer bikes tend to sell for more.
Mileage. Mileage plays a major role in a bike valuation. Lower mileage generally increases value, although mileage alone isn’t enough to dramatically affect the price one way or another. Valuers will take mileage into account in the context of the make and model, as well as the year of registration.
Condition. The overall condition of the bike is critical, and one of the first things valuers and potential buyers will notice. Buyers will consider the cosmetic condition, mechanical condition, MOT status, tyres, brakes, and chain.
Service history. A full or even partial service history can provide peace of mind to a buyer that the bike’s been looked after. Keep records as up-to-date as possible to get the best price for your bike.
Market demand. The same bike can receive a different valuation from one month to the next. This is because, as much as the bike itself matters, so do the market conditions surrounding it. Sports bikes tend to sell better in summer and spring, for example, when more people are looking to get out on the open road.
What Does a Bike Valuation Entail?
A bike valuation will be carried out by a private buyer or third-party, such as a service that claims ‘We Buy Any Bike’. Often, the latter proves to be a more enjoyable and efficient process since private buyers can be unreliable and slow.
A bike valuation sometimes entails an in-depth look at your vehicle to determine its condition, as well as confirmation of key details such as the make and model. If you opt for a ‘We Buy Any Bike’ model like BigMoto, you’ll only need a few details, such as your reg to get an accurate price. With that quote, you can make a decision about whether or not to sell.
How to Get an Accurate Bike Valuation
The easiest way to get an accurate bike valuation is to upload your bike’s details to a ‘We Buy Any Bike’ site like BigMoto and receive an immediate quote. The price quoted will take into account aspects like make, model, and market demand.
While working with a private buyer is also an option, this can be a much slower and more unreliable way of moving forward. Plus, you’ll likely have to get a separate bike valuation.
How to Sell Your Bike
Getting a bike valuation is just one part of the puzzle. Once you’ve established how much your bike is worth, the next step is getting it on the market.
BigMoto’s promise of ‘we buy any bike’ allows you to sell your bike no matter its condition. The valuation process couldn’t be easier - you simply upload your bike’s reg and details online and schedule a collection or drop-off.
While private buyers can drag their heels, a sale with BigMoto can take place in as quickly as a few days. Get a bike valuation today in seconds and see how much your ride could be worth with BigMoto.