Motorcycles and scooters have become more popular with the rise of gas prices.
Classic motorcycles, like classic cars, are collectibles, and the value of many classic motorcycles has increased dramatically over the last few decades. That said, circumstances are sometimes such that one has to sell a beloved Harley or Indian to raise cash. If time is not a major concern, the best strategy to get the most money for your bike is to try and sell it yourself. Then, after a couple of months if you don’t have any luck selling it yourself, you can always put it up for consignment or even for auction, but you will have to pay the sometimes significant fees for selling it through these methods.
1. Research the market for the make and model of classic motorcycle you are looking to sell. Sometimes just a one year difference in a model can have a huge impact on the value of the vehicle, so try to get recent information on the same make, model and year if possible. The Internet is a good place to start your research. Attending the classic car and motorcycle shows that travel across the country, and soliciting friendly advice and informal appraisals from participants is another good way to get a feel for the current market conditions.
2. List your classic motorcycle for sale on at least one website like Walnacks or Cycle Trader after you have determined a fair price. Do not make your asking price too high or it might scare off initial inquiries. Make sure to include at least one high-quality photo and an accurate description of the motorcycle including color, condition and any custom or unique features.
3. Place an ad in the classified ad section of your local newspaper. In most cases, you are automatically listed in the online version of the classifieds on the newspaper’s website. If you do not live in a major city, it might be worth considering placing an ad in the closest major city.
4. Network with friends, family and colleagues as much as you can to spread word that your classic bike is for sale. Give yourself at least two or three months to sell the motorcycle on your own. At that point you can assess your options and consign it with a local dealer or take your chances and sell it in an auction. Keep in mind that depending on the value of the motorcycle, consignment or auction fees can subtract 20 percent or more from the final price you receive.