DIY - Selling of Bike

[mdkye]

Hi,

 

i am thinking to sell my bike.

it is easy and convenient to just sell it thru any Bike shop.

but by going thru the shops, there will be middle man costs that is we might not get a gd fetching price as compared to when there is no middleman involved.

Does anyone know of the pros and cons of selling their bike thru the Bike shop and selling it yourself?

is the paperwork and updates really troublesome if i sell it not by going thru a bike shop?

 

Thanks in advance!

[ezzyoiler]

the price difference you get from selling yourselfcompared through bike shop...

is the middleman cost haha..or put it in this way the selling costs..ie time..posting and responding to classified, the time for viewing, etc etc.

 

the completion is just simple make a trip to lta and transfer to new owner...

 

as someone put it...if you view time is more valuable then money...let shop do it at a cost..

if money is more important do it yourself...

 

note some bikes takes a long time to sell..if pricing is not correct...ie money is impotant so you tend to ask more and more..

some bikes simply nobody want...even bike shop dont want ..

[ezzyoiler]

if i may add.....

if you love your bike...it makes selling an ordeal....

[revhappy]

Nowadays, there are lots of traders who buy/sell bikes in the forum and hence the forum prices are same or sometimes even higher than bike shop prices.

 

The only advantage for buyer from the forum is that its much quicker to deal with a direct seller without hidden costs. Buyer just has to buy insurance and trip to LTA and spend 11$ and transfer over.

 

Bikeshops layup the bike so they ask for inspection fee, road tax, admin fee and GST 3.5% on top of the machine price and it takes a day or 2. Sometime they are not transparent in explaining these fees and its puts off buyers.

 

It is also easy to do a quick search for bikes in classifieds and call up the direct seller and view the bike. In case of bike shops need to go personally to see what bikes are available.

Edited August 21, 2012 by revhappy

[jayz]

selling bike yourself is so so simple.

 

just ride the bike to LTA @ sin ming

 

go in with the buyer and take Q number, then transfer the name (fill in some form)

 

ok already. dont forget to take $ from the buyer.

 

after which, you can cancel your insurance.

 

what's so hard and difficult about all this?

 

dont waste $ paying bike shop for the admin fees. you do 1 time you know already. good luck

[ezzyoiler]

yes...bike shop buys yor bike and sell it...its their biz...the difference is their profit...

so by asking the bike shop the price they are offering...you can then sell at whatever your profit when the bike is sold diy......

[mdkye]

you make it sound so simple. hehe. Thanks.

[MrHui]

My friend went around all the shops to ask for his Fazer6, highest quote from bike shop is $7k... He sold to a private seller, $1k+ more than what the shop quote... What do you think? The paper work is jus go to sinming and sign + transact, thats about it and you can save $1k+ for all these...

[Pulser]

Very true right now it is the sellers market. Forum people are selling at crazy prices and still able to sell easily.

 

If it was recession, then better to go to sell to a shop.

[henchster]

Hi

Anyone know when to get the insurance? Is it after transfer of Ownership or before transfer?

[ezzyoiler]

get insurance first...then to lta..

ntuc...directasia.com....msig.....axa...etc