January 01, 2020 - Equipment and Tools
Bicycles are always in demand. In fact, many big cities are taking measures to promote biking by creating bike routes and lanes.
This means finding pawn shops that buy bikes should be pretty easy. Let’s go over how you can find the right buyer and get the best price for your bike.
Pawn shops are very common, especially in big cities. However, don’t just pick the one closest to you and take what they offer.
Instead, try to find a pawn shop that sells a good amount of sporting equipment. They understand that people look for used bikes all the time and will most likely give you a good price.
Most people understand that pawn shop bikes aren’t going to be in the best condition. But that doesn’t mean you should bring in a bike that barely works.
The better condition your bike is in, the more money you’ll get for it. You don’t have to do a major overhaul. However, oiling the chain, pumping up the tires, and making sure all nuts and bolts are secure will help your bike sell.
If you have any biking accessories such as a helmet or pump, bring those along as well. These things will help sweeten the deal and attract a higher price.
Taking a little time to clean your bike will increase the chance of a pawn shop buying it right away. It can also increase the amount of cash you’ll get.
A little soap and water will take care of any dirt and grime. You may also want to consider rewrapping the handlebars to make it look newer.
Pawn shops will fix up the items they buy, but only to a certain degree. A bike covered in dust and old mud may not be worth it to them.
It won’t hurt to get an idea of how much used bikes like yours sell for. Look online for the same make and model and write down the common asking price.
You could also take a look at how much local pawn shops charge for bikes. This will give you an idea of how much you should sell yours for.
Keep in mind though that pawn shops are resellers and will give you lower than market rate.
Every pawn shop is different, so make sure you don’t waste time with a shop that doesn’t have any interest in bikes. Instead, only do business with local pawn shops that buy bikes and other sporting gear. Then, make sure you take the steps discussed above to get the best price.
For more articles and tips on selling to pawn shops, check out our blog.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles