It can be quite a challenge when it comes to pricing a second-hand bicycle, especially if you're new to the pre-loved bicycle market. However, you can accurately value your bicycle by understanding some basic principles and using the right resources.

Here are some steps to guide you through this process:

A hard fact is that a used bike is only worth what the market is willing to pay for it.

Check the Bike Hub Classifieds and local bike shops for the price of similar models being sold. Also reach out to the community on the forums for advice. This can give you a realistic idea of what people are willing to pay for a bike like yours.

The real question when selling a used bike is “How much has my bike depreciated?”. This requires knowing the original retail price of the bicycles as a rough guide to the current value of the bike.

Bicycles typically depreciate by 20-30% per year. Obviously factors like age, condition, and the type of bicycle influence the rate of depreciation (but more on that later).

Whether justified or not, brand names matter in cycling. High-end bicycles from recognised brands will generally hold their value better than cheaper, lesser-known brands. As an example, the most searched brand names on Bike Hub are Specialized, Trek, Scott, Giant, and Cannondale.

We also notice that brands that sell at a premium when new also tend to hold their value better than budget brands that are already lower priced.

Some bikes are simply more popular than others and will attract more buyers, which potentially means a higher price. In the South African market, short travel mountain bikes and performance road bikes reign supreme.

The size of the bike also determines how many buyers you might attract. Sizes outside of the popular medium and large brackets often sell slower as there are fewer buyers.

Bikes with modern technology will hold more value than those with older technology and standards. Examples: A mountain bike with 29 inch or 27.5 inch wheels will hold more value than a 26 inch bike. Road bikes with disc brakes are more sought after than rim brake road bikes.

A bike that is in excellent condition will hold its value much better than one that needs repairs. Examine the bike's condition thoroughly. Check for any mechanical issues, such as braking, shifting, and overall ride quality. Inspect the bike's frame for any visible signs of damage, like dents, cracks, or rust. Assess the tyre condition, brake pads, and drivetrain for any wear and tear.

Generally, the newer a bike the more of its original value it will hold. Bicycles typically depreciate by 20-30% per year.

For older bikes (from around 6 years and older) you should start looking to factors like condition and technology as an indicator of value instead of making any calculations from the original purchase price.

If the bike has any additional features or upgrades, like a high-quality saddle, upgraded components, or an advanced wheelset, these can add value to your bike. Be ready to explain and justify these prices to potential buyers but don’t expect to recoup the full value of the upgrades.

Be prepared to negotiate on the price, but do set a minimum price you're willing to accept. When listing the bike for sale, be transparent about its condition, any repairs needed, and why you're selling it. This builds trust with potential buyers.

Still no luck? Then honestly, keep testing lower prices until the offers start coming in.

Also check out our article on creating a best-selling second hand bike advertisement here.

Pricing a second-hand bicycle accurately requires a good understanding of the bike's condition, age, original price, and the current market. By following the steps above, you can confidently price your bicycle and attract the right buyer. Remember, the goal is to find a fair price that both you and the buyer can be happy with.

And finally, patience is key. It may take some time to find the right buyer, but with the correct pricing and clear communication, you'll be able to sell your second-hand bike effectively.