Is there money is private bike trading?

Ric · Could Be A Chat Bot Joined: 22 Nov 2004 Karma :

Basically i was having a look on ebay as you do

people who sell bikes on there often let them go lower than id thought they'd reach

and they tend to be in need of a service TAX and MOT

i saw it as a way to make money ie 300-400?? here and there and learn a lot about engines/carbs etc

i have the capital and resources + lots of spare time coming up

just after oppinons really

G · The Voice of Reason Joined: 02 Feb 2002 Karma :

There is, but I don't know if I'd want to be using it as a way to 'learn' the ropes.

feef · Energiser Bunny Joined: 11 Feb 2002 Karma :

If you sell more than a certain number of vehicles in a year, you need to register as a motorvehicle trader. I'm not sure of the threshold, nor who you contact to do so, but not doing so can leave you open to prosecution.

P · Scooby Slapper Joined: 14 Jan 2005 Karma :

Think carefully, especially if your planning to do this long term. As it's already been said, you'll eventually have to registered as a motortrader. This means you'll be governed by far stricter trading laws than private sellers and you'll be liable to pay VAT too.

Two years ago I done a similar thing with cars. Bought them from a trader I knew and sold them via the local paper/autotrader/ad trader, etc. You'll get about 6 ads in autotrader, and I would imagine Biketrader as well, before they either stop taking your ads or tell you you must have the word TRADE displayed in your ad. This will almost certainly apply to most newspaper and magazines. If you get caught trading form the house you'll end up in a whole lot of shit. You might get away with selling a few and getting a turn at it, but it's definitely not long term. There are so many things out there to try and catch dodgy car/bike traders. Autotrader even publishes a number you can call and stick people in if you think they're trading from home!

Doing it legitimately might not be that bad. You could have an ebay shop or something selling bikes under a £1,000 to start with. This would eliminate the need for premises straight away and wouldn't require much outlay. Just make sure your bikes are in good nick and you cover your arse when paperwork is concerned.

Good luck! Thumbs Up

Ric · Could Be A Chat Bot Joined: 22 Nov 2004 Karma :

well im not too bad a spannering, just havent done it on a range of bikes

was lookin into it as kinda a hobby to spent my summer if i only work part time

lookin to sell maybe 3? or so over may-september, then i wont have time to work on them

P · Scooby Slapper Joined: 14 Jan 2005 Karma :

You know what'll happen? You'll sell 3 easy, then you'll want to sell 6...9...12...15 and so on!

I wouldn't mind doing something like this, if just for a little extra income a month. But I know fook all about repairing bikes, what they're worth, what's 'hot' and what's not, etc.

Phoenix · Twisted Firestarter Joined: 01 Aug 2002 Karma :

There is money to be made, you've just gotta wait for bargains that can only really turn out a profit and not jump at something that you think *might* make money but aren't sure. As for having to be a vehicle trader, well if can pull it off, sometimes ppl will sell you the bike and give you the V5 without filling it in and sending it off themself, so just sell it on without registering it to yourself if you plan to do it quickly, i've done this once. It's technically illegal but if you only have the bike a week or two it should be ok.

P · Scooby Slapper Joined: 14 Jan 2005 Karma :

No never let the previous owner send the V5 away to have it changed to your name. Not only will this unnecessarily add another owner to the log book it could take weeks before the DVLA send you it back and no one will buy a bike from you without the V5.

You'll also need to be a bit 'economical with the truth' when it comes to the question 'why are you selling it?'. Things like 'I'm bored with bikes and it was taking up space' or 'My girlfriend just told me she is pregnant and we need the money' go down better than 'I bought it when it was a piece of shit and now I've cleaned it all up and I'm trying to sell it to you and make a tidy profit'!!!

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

Food for thought...

If you've got the capital and resources then look at buying good condition second hand bikes and breaking them for parts. You could fairly easily make that much or more from one bike.

Ric · Could Be A Chat Bot Joined: 22 Nov 2004 Karma :

i think im gunna try and pick up a zxr400 like mine and have it as a project and see how it pays off

worst that can happen is i break even and waste time (or have fun)

cant be too bad

mite try palming it off on my dad and gettin him to ride

ps: im learnin to spray, would that be worth while sprayin up bad condition fairing? to sell as sets on ebay? or on the bike?

Gazdaman · I did a trackday!!! Joined: 12 Aug 2004 Karma :

My grandpa did this with cars, shame he died before I was born, I'm sure him and I would have had some wheeler dealing fun.

He did well out of it, but he did get screwed over as a tax fraud.

It's something I've always thought would be fun. A swede (someone from Sweden, not the turnip wannabe) bought my mum's XJ900 divvy, he buys bikes in England off ebay, rides them home and sells them. Sounds a great life to me!

Gaz