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harjxp |
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harjxp L Plate Warrior
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sickpup |
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sickpup Old Timer
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harjxp |
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harjxp L Plate Warrior
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MarJay |
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MarJay But it's British!
Joined: 15 Sep 2003 Karma :
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Posted: 19:21 - 22 Oct 2020 Post subject: |
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It's harder than you think. You need to know the bikes upside down and inside out. Not in terms of mechanicals but in terms of their uses, their quirks, why owners buy, why owners sell, why owners keep them. Bikes aren't like cars. The people who buy are by definition enthusiasts. If your knowledge is not as good as the buyer, they'll eat you alive or walk away.
I don't think you can make a profit unless you know your onions. I've sold the last 4 bikes I've owned for what I paid, or £100 or so more than what I paid, but I've generally put money into them during my ownership time. I've been riding for 20 years and know every bike I buy very well.
I almost started doing as you intend to do during a period of being between jobs, but I realised it's a good way to throw money down the drain unless you're completely ruthless and can trade with zero emotion. I don't think I can do that so I didn't bother. I have made money on bikes, but I've owned them, I've ridden them, and I've cherished them in between times. Flipping them doesn't generally work as far as I can tell. ____________________ British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another. |
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arry |
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arry Super Spammer
Joined: 03 Jan 2009 Karma :
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harjxp |
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harjxp L Plate Warrior
Joined: 22 Oct 2020 Karma :
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Posted: 19:55 - 22 Oct 2020 Post subject: |
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MarJay wrote: | It's harder than you think. You need to know the bikes upside down and inside out. Not in terms of mechanicals but in terms of their uses, their quirks, why owners buy, why owners sell, why owners keep them. Bikes aren't like cars. The people who buy are by definition enthusiasts. If your knowledge is not as good as the buyer, they'll eat you alive or walk away.
I don't think you can make a profit unless you know your onions. I've sold the last 4 bikes I've owned for what I paid, or £100 or so more than what I paid, but I've generally put money into them during my ownership time. I've been riding for 20 years and know every bike I buy very well.
I almost started doing as you intend to do during a period of being between jobs, but I realised it's a good way to throw money down the drain unless you're completely ruthless and can trade with zero emotion. I don't think I can do that so I didn't bother. I have made money on bikes, but I've owned them, I've ridden them, and I've cherished them in between times. Flipping them doesn't generally work as far as I can tell. |
Thank you for the reply
So far I've been making around £300 average profit per bike (I started on just £190 capital half a year ago). I've found a fair amount of good deals on the 'larger bikes' but its literally just the in-depth knowledge I require. I know the mechanical but like you said the other things like quirks and uses and the general market is what I need to expand upon which I guess I can obtain via experience as the main contributor. E.g I genuinely have found a zx7r thats in good condition for £950 and im going to go check it out in a day or 2. Whats confusing me is the skepticism and where it comes from when i've clearly found good deals (which I personally inspected with my current 'limited' but growing skill) and produced a healthy profit from? |
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wr6133 |
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wr6133 World Chat Champion
Joined: 31 Dec 2013 Karma :
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Tdibs |
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Tdibs Traffic Copper
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MarJay |
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MarJay But it's British!
Joined: 15 Sep 2003 Karma :
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arry |
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arry Super Spammer
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Ste |
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Ste Not Work Safe
Joined: 01 Sep 2002 Karma :
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Posted: 21:16 - 22 Oct 2020 Post subject: |
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Buy that ZX7R and then try to sell it to us.
If it's in good condition and you can get it for £950 then you'll easily be able to get a decent profit and the buyer would still be getting a bargain.
Or you might get to discover that your definition of good condition is different to what other people think.
It sounds like you're wanting to buy from people who're undervaluing their bike when trying to sell it. If you can browse through thousands of listings on eBay and pick out the ones which are easily worth more than the asking price then go for it.
Buy the ZX7R and sell it to us. Do it now. |
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arry |
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arry Super Spammer
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wr6133 |
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wr6133 World Chat Champion
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stinkwheel |
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stinkwheel Bovine Proctologist
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Robby |
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Robby Dirty Old Man
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Bhud |
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Bhud World Chat Champion
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oilyrag |
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oilyrag Nova Slayer
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Kentol750 |
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Kentol750 World Chat Champion
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struan80 |
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struan80 World Chat Champion
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zark |
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zark Trackday Trickster
Joined: 18 Dec 2013 Karma :
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Blah blah |
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Blah blah Scooby Slapper
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winz |
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winz World Chat Champion
Joined: 05 Feb 2015 Karma :
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Posted: 10:56 - 24 Oct 2020 Post subject: |
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Blah blah wrote: | Presumably the OP has informed HMRC that they are a trader and is fully aware of the implications that go with being a trader... |
THIS!
I've got a friend who buys (mainly) bikes to sell, he goes through stages with different marquees, a while back it was BMW (Ks Rs) but always a bit special and top spec. Think he also has had a load of Ducatis at one point, some super low mile Multistradas and different flavour of Panigalis, he did sell one to a friend of his and the engine blew, cost him about 3k in repairs being an honest trader with that. Every Ducati he has goes to a specialist for any services and work, everything else he does. Pretty much deals in low mile, (actually) mint bikes, and in his words 'dripping in ohlins all the good stuff'. He's continually up and down the UK picking up and delivering bikes too. Anything a little quirky too. Just do your research and know your stuff.
Might as well give him a little plug as he is a top bloke. https://www.cultmotorcycles.co.uk ____________________ Current Bikes: BMW K1200S
Previous: Honda CBR929RR, Honda CBR1100XX, Honda CB600F |
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Old Thread Alert!
The last post was made 3 years, 184 days ago. Instead of replying here, would creating a new thread be more useful? |
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