| The second hand bikes market is one of the most | | | | money. But do not worry if you do not have the |
| inefficient and unorganized market. Some of the | | | | money. Close the first few deals with lower profit |
| important problems associated with this market are | | | | margin and you can always use that money to buy |
| - It is really difficult for a buyer to get a seller | | | | bikes with the profit. |
| without involving a third party | | | | Where to find second hand bikes? |
| - The buyer has no way of finding out the true value | | | | The information is not that difficult to find. |
| of bike that he is buying. Hence buyers tend to | | | | - Newspaper classifieds ads are a good source for |
| discount these bikes more than they deserve. | | | | finding out about good used bikes for sale. |
| - Sellers are more than happy to sell the bike at a | | | | - Online classified sites have a good amount of |
| stiff discount only to close the deal as soon as | | | | information as well. |
| possible. | | | | - Look out for your local bank auctioning the |
| - Most importantly buyers are reluctant to buy the | | | | repossessed bikes |
| bike from someone they do not know. As we know | | | | - Final target should be to get people to come to |
| from marketing books, markets that need trust pay | | | | you directly to sell their bikes. |
| a huge premium for a brand. As we shall see in the | | | | How to get a good price for your second hand bike? |
| remaining parts of this article, the above points | | | | Once you have purchased the bike, there are certain |
| provide an ideal opportunity to make a lot of money | | | | things you can do to get maximum value out of the |
| by trading in used bikes. | | | | bike. |
| What do you need to start this business? | | | | - Get some basic repairs done. Tidy up the look of |
| The key is in finding good bikes at a discount. Hence | | | | the bike, repair any dents that may be there. |
| a strong knowledge about bikes and an ability to | | | | - Make sure that the bike is not producing any |
| figure out potential problems by taking a test ride is | | | | unnatural noise. |
| extremely important to succeed as a second hand | | | | - However do not go overboard with improvements |
| bike trader. Next skill required is negotiation skill. You | | | | to the bike. No matter what you do, no one is going |
| need to be good at figuring out the price at which | | | | to pay you more than a new bike!! Trading in second |
| someone will settle. This is where you will be able to | | | | hand bikes is an exceptionally smart way of making |
| make money. | | | | good amount of money. Please share your |
| Some initial money to buy couple of bikes and do | | | | experience with us if you have ever tried the same. |
| necessary repair will help you make even more | | | | |