February 18, 2020 - Equipment and Tools
There are many different varieties and brands of bicycles from which to choose, ranging in price between $50 and $10,000. The popularity of biking makes any pawnbroker eager to do business with you. To help you get top dollar for your bicycle, here are a few tips:
The newer you can make your bike look, the more willing pawn shops will be to give you top dollar for your bike. Take soap and water to your bike to get rid of all the dirt and grime. A clean look could add $50-100 to your offer price.
You don’t have to fix every dent or scratch; just make sure you’re okay with the offer amount you’ll get if you leave those damages or cosmetic issues on your bike. Fix what you possibly and reasonably can. Pawn shops are okay with minor issues such as the handle bars needing to be retaped or seat issues. On the other hand, if the the bike just doesn’t work at all, pawn shops typically won’t do business with you unless it’s a higher end bike. The goal here is to give pawn shops very little work on fixing the bike.
Once you’ve fixed what you can on your bike and have washed it, the price offer will depend on many variables such as type of bike, brand, and the condition. Pawnshops will usually offer between 20-30% of your bike’s original retail value if you’re pawning or selling an inexpensive bike that is less than $200. For bikes that are more than $300, you should expect an offer closer to original retail value. Take a look at offer prices for bikes PawnGuru typically sees below:
|Schwinn Road Bike||$1-40|
|Trek Road Bike||$30-280|
|Cannondale Mountain Bike||$75-200|
|Diamondback Mountain Bike||$10-35|
Jordan Birnholtz is the cofounder of PawnGuru. An alumnus of the University of Michigan, Jordan started PawnGuru in 2015 with Jon Polter, David Stiebel, and Jessica Zahnd. When he's not working at PawnGuru, Jordan volunteers his time to support undergraduates in building socially-responsible businesses and organizations through Optimize, a program at the University of Michigan.More Articles