Knowing how much a used or new bicycle is worth can feel like a bit of a minefield, which may paralyze you in your decision to buy or sell. But don’t worry, we’re here to help you navigate that minefield, so whether you’re buying a new or used bike or selling an old one, you can be confident you’re getting a fair price.
The value of a used bicycle is determined by the brand, components used, its age, and its condition. Bicycles lose 10-45% of their retail value within the first year. Bikes in excellent condition resell for up to 90%, while bikes in fair condition may only be sold at 55% of their original price after one year. The depreciation rate in subsequent years is 7-10% per year.
Private sales are riskier than trade-ins, but both parties may end up getting a better deal. In this article, we’ll do a deep dive into how you can know the value of a bicycle.
The rules of bicycle depreciation
This may come as a shock to you, but within the first year of a bike’s life, it may lose up to 45% of its value. That means if you buy an $5000 bike, you don’t look after it and you sell it in fair condition, you can only realistically expect to sell it for around $3250 after 12 months.
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However, notice the words ‘fair condition’ – that’s because there are no hard and fast rules when it comes to bicycle depreciation. Different things affect a used bicycle’s value, but we’ll get into that below.
On the other hand, if you take care of your bike, it will retain its value much better. The same $5000 bike in mint condition may be sold for $4500 after the first year and $3440 after three years.
After the first 2 to 3 years of your bicycle’s life, it’s estimated that it will generally lose a further 7 to 10% of its value each year. So after 3 years, a $5000 bike may be sold for $2400-$3400 depending on its condition. After having your bike for 3 years, you could be looking at a severe drop-off, because many cyclists believe 5 years is the end of a bike’s useful life.
We’re going to see how to evaluate the condition of a used bike, but here’s a useful comparison chart for different price points and conditions.
Note that most bicycles will fall in the good condition category, while only a tiny minority can be regarded as excellent. If you look after your bike diligently it’s likely to be in very good condition.
| New price $600 | Mint condition | Very good condition | Good condition | Fair condition |
| 1 year old | $498 – $540 | $498 – $522 | $450 – $498 | $348 – $390 |
| 2 years old | $467 – $483 | $459 – $474 | $427 – $441 | $332 – $343 |
| 3 years old | $404 – $413 | $397 – $406 | $369 – $377 | $287 – $294 |
| 4 year old | $339 – $347 | $333 – $341 | $310 – $317 | $241 – $247 |
| 5 year old | $292 – $298 | $287 – $293 | $266 – $273 | $207 – $212 |
| 6 year old | $251 – $257 | $246 – $252 | $229 – $234 | $178 – $182 |
| New price $1500 | Mint condition | Very good condition | Good condition | Fair condition |
| 1 year old | $1245 – $1350 | $1245 – $1305 | $1125 – $1245 | $870 – $975 |
| 2 years old | $1168 – $1207 | $1148 – $1186 | $1067 – $1102 | $830 – $858 |
| 3 years old | $1009 – $1033 | $992 – $1015 | $922 – $943 | $717 – $734 |
| 4 year old | $847 – $868 | $833 – $853 | $774 – $793 | $603 – $617 |
| 5 year old | $729 – $746 | $716 – $733 | $666 – $681 | $518 – $530 |
| 6 year old | $627 – $642 | $616 – $631 | $573 – $586 | $446 – $456 |
| New price $5000 | Mint condition | Very good condition | Good condition | Fair condition |
| 1 year old | $4150 – $4500 | $4150 – $4350 | $3750 – $4150 | $2900 – $3250 |
| 2 years old | $3893 – $4022 | $3825 – $3953 | $3555 – $3674 | $2768 – $2860 |
| 3 years old | $3364 – $3443 | $3305 – $3383 | $3072 – $3144 | $2392 – $2448 |
| 4 year old | $2825 – $2893 | $2776 – $2843 | $2580 – $2642 | $2008 – $2057 |
| 5 year old | $2430 – $2487 | $2388 – $2444 | $2219 – $2272 | $1728 – $1768 |
| 6 year old | $2090 – $2139 | $2054 – $2102 | $1909 – $1954 | $1486 – $1521 |
What affects a used bicycle’s value?
Whether you’re about to buy or sell, you need to consider these factors to estimate the value of a bicycle with greater accuracy.
The brand
First up is the brand. Some of the high-end bicycle brands build their bicycles to last, so naturally they are worth more than other brands. That’s not to say some of the smaller brands don’t hold their value, too, but generally, those brands selling high-end bicycles with better components for high-end prices will produce bikes that hold their value best over time. Giant, Trek, Specialized, and Cannondale are examples of brands that hold their value.
Niche vs mass appeal
The next factor has to do with niche vs mass appeal. What this means is that some bikes are custom-built to accommodate a very specific style of riding. If a bike is produced with cutting-edge technology not yet in mass production to fulfill a specific purpose (e.g., electronic shifting), it will depreciate faster than technology already in mass production.
If, however, you have a non-custom-built high-end road bike, then reselling this is a little easier because more people want it. The higher the demand for your specific bicycle, the better it is for you in terms of the resale value. So ask yourself, is this bike for a niche audience or a mass audience? The answer will affect the bike’s value a lot.
The same goes for when you buy a bike. Some technology might have been costly when the bike was made, but if it’s trickled down to lower-tier bikes, the depreciation is much faster.
How it stacks up against today’s common features
This could be anything from the type of disc brakes on the bike all the way through to the size of the tires. As new technology is constantly being developed to improve users’ experiences on their bicycles, it’s understandable that the older our bikes get, the less useful they are to the modern cyclist and, therefore, the less money it is worth.
If you purchased a high-end bike two years ago, then the likelihood is that new technology hasn’t outstripped your old bike just yet, but even so, some buyers will be hesitant because eventually that technology will be considered outdated and the older your bike is, the more likely that is going to happen for the new owner sooner rather than later.
Quality of components used
When it comes to components, the drive train and the brakes can make or break a bike’s value. Shimano and Sram are the two most prominent players, each of which has an entire line-up from cheapest to most expensive options. Even their entry-level models get the job done just fine, but more money can get you more speeds, faster shifting, more braking power in extreme conditions, and thus a better riding experience overall.
Tektro and Microshift are lesser-known and less prestigious brands, which is also reflected in the price tag.
Campagnolo, on the other hand, is a smaller luxury brand with high-end prices and excellent quality.
Frame material
Look at your frame material. If your bike is a high-end bike, then it is likely a titanium or high-end carbon/steel frame. This is a good thing. These frames are built to last – they can withstand bump after bump in the road, and they don’t wear down and become weaker over time. Reselling bikes with frames made of these materials will fetch far more than others.
If your bike isn’t high-end, then it’s likely that the frame is made of a budget steel, carbon, or aluminum frame. Whilst these work fine for a year or two, these budget bike frames will deteriorate quickly, and they won’t have much life left in them when you come to resell. Unfortunately, you’ll have to settle for less money here.
Brands that hold their value best
There are several brands that are notoriously good re-sellers because of the expert craftsmanship and top-quality materials that they make their bikes of. Here are the main ones:
- Trek
- Giant
- Specialized
- Redline
- Ragheigh
- Schwinn
These brands resell well because they are well made, have a loyal fan base, and are right at the cutting edge of innovation in cycling technology. Purchasing from one of these brands is a good way to ensure you get more bang for your buck when you eventually resell.
Common pitfalls when buying a used bicycle
If you want to buy a used bicycle, look out for these common pitfalls. Trust us, you’ll thank us later!
Online only
So many people purchase used bikes online without ever seeing them in person. Would you do that with a car? A house? Then you shouldn’t do it with a bicycle either. Nothing beats getting up close and personal to a bike to notice its flaws, so be wary of just seeing pictures online and making a purchase.
No test-run
This links in with the point above, but don’t just look at the bike when you’re there, ride it! Doing so will let you know if there are any problems, and you’ll be able to decide whether it is the right bike for you.
Not comparing to newer models
Last, but not least, make sure you look at newer models. We’re not trying to encourage you to purchase a new bicycle over a used bicycle here. We’re just saying that comparing models can really help.
If somebody is asking for $800 for a used bicycle, but you can pick up a brand new one with similar features for $850, then something has gone wrong. Take a look at newer models, too, to give yourself peace of mind.
Not inspecting the frame thoroughly
Check the frame for scratches, dents, and cracks to see if the bike has been taken good care of and whether it’s been involved in an accident. Even scuffs and peeled paint can tell you how much the bike has been looked after.
How do I find the value of my used bike?
You can do it in one of two ways. First, you can look at this article, note all our points down, and then have an honest review of your used bike as it stands right now. Then you can pluck a number out of the air and see if anybody bites.
If you’re looking for a more accurate estimation, you can head to BicycleBlueBook.com to enter your bike’s year, brand, and model and get a more precise range. The BicycleBlueBook works just like the Blue Book for cars, so it’ll tell you exactly how much it is worth without guessing.
How much is an old bicycle worth?
Now, if you’re looking to buy a used bicycle, the first thing to do is check out the BicyleBlueBook by following the link above. This will tell you exactly what the used bicycle is worth. If, for whatever reason, you can’t find the bike’s value on the website, then it’s down to personal judgment. Think about these key things to see how much you’d be willing to pay for the bike:
- Condition
- Brand
- Features (compared to today)
- Realistic lifespan
- Frame material
- Is it a niche bike or one designed for the masses?
Once you’ve looked closer at the bike with these in mind, you’ll be able to say what it’s worth with a lot more confidence.
What is a fair price for a used bike?
What a bike is worth and what a fair price for the bike is, however, are two very different things. The first thing you need to consider is the general rule that we spoke about at the start of this post. If it’s a year old, it’s already lost 10-45% of its worth compared to the original retail price.
Remember, a fair price has to be fair for both the buyer and the seller, so whichever side of the bargain you’re on, be willing to negotiate. Yes, you may have bought a bike for $1500 3 years ago, and yes, it might technically be worth a little over $950 according to your calculations, but if somebody is driving across the state to pick it up, taking time out of their day so you don’t have to deliver it to them, then accepting an offer of $900 isn’t so bad.
When both sides are reasonable, that’s when you can guarantee a fair price.
How much is a good bicycle worth?
We could do a whole post on what a good bicycle is, never mind how much it’s worth, but we’ll keep this short and sweet. Below is a list of rough estimates based on what we, and other keen cyclists, would expect to pay for new bicycles, but keep in mind that prices will vary a lot between models e.g., BMX vs Mountain Bikes and Road Bikes vs Hybrid ones. To make things easier, we’ve broken down how much you should pay based on how serious a cyclist you are:
– Budget price: $300-$500
– Commuters: $500-$1000
– Hobbyists: $1000-$1500
– Enthusiasts: $1500-$2500
– Sport fans: $2500-$4000
– Athletes/Competitors: $4000-$8000+
Take-Home Message
Asking how much a bicycle is worth is like asking how long a piece of string is. Who knows? But if you keep in mind the points made throughout this post, you can at least make reasonable estimates about a bicycle’s true value. Concentrate on the factors that affect a bike’s worth, look out for brands that hold their value the best, and keep in mind the general rule about bike depreciation. We’re sure you’ll have a great deal when you sell your old bike or buy a new one!
Happy pedaling!