A new bike auction site – Going Going Bike offers a dedicated bike auction site. It looks good and I like the efforts to deter thieves with the bike certificate of ownership initiative. There is no upfront fee only 5% of final selling price.
I am often reluctant to sell bikes, because you can lose a % of their real value. And they often come in useful as a source for parts. But, if I did sell my old hill climb bike, I might well use Going Going Bike.
There are an estimated 25 million unused bikes in the UK, so there’s obviously a market for selling second hand bikes.
If you want to buy second hand, buying from a bike auction site could be a good way to get a good value bike. It certainly looks preferable to buying from Gumtree where it is much harder to validate the ownership of the bike.
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