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Well, at least once in our entire life, all of us would have imagined ourselves riding on a superbike before parking it in our backyard. Unfortunately, only a handful of people could achieve that feat while the rest have to sacrifice their dreams to compromise with a happy life. Buying new superbikes is not everyone’s game, so most people in California and other states of America are opting for classic motorcycles for long drives as they also fit well in their budget. Most of us love to change bikes, and there is no one single reason to change. Some like to change it for being trendy, some of us have a futuristic vision, and the rest of us for a good resale value. In this blog, we will discuss motorcycle appraisal services and some important facts that have a major impact on a bike’s resale value.
#1. Condition of the motorcycle:
The first and foremost factor affecting the resale value of the vehicle is the condition of your motorcycle. Despite having a good average mileage, the resale value of your motorcycle might depreciate if it doesn’t look good to the buyer’s eye. Bikes that don’t look good perform less in the resale market as savvy buyers pick the ones which get quickly attracted by the naked eye.
To tackle this situation, the majority of sellers clean their motorcycles, and some also paint them to make them look attractive. If you want to negotiate a fair price for your motorcycle, you will have to lubricate its chain and wash the motorcycle before presenting it to the buyer.
Watch out for insurance claims and motorcycle appraisal services:
Apart from the condition of the motorcycle, previous insurance claims for repairs arising out of accidents also have a crucial impact on the resale value of the motorcycle.
There are also different categories like Category C, where the total repair of the bike is more than the ACV or Actual Cash Value, Category D (Stolen bikes or bikes that have experienced minute damage). Bikes that have undergone repairs have lower resale values when compared to bikes of the same model, which have not undergone a single repair.
Moreover, the buyer can also take help from professional motorcycle appraisal services that can also provide the best valuation for the vehicle.
#2. Advertising, Supply, and Demand:
A lot of bike owners take advertisements lightly and spend less to save more for repairs. Unfortunately, doing this tactic reduces the value and attraction of bikes. At the end of the day, the advertisement is the best platform from which the buyer is going to showcase their interest in the bike. It is vital to focus on the description and capture some good pictures to attract buyers from both online and offline advertisements. Also, provide every single bit of detail, and most importantly, don’t lie.
Before advertising your old bike, you have to understand the market. To do so, check for the bike prices on the internet and compare them with other dealers. If there are many similar bikes, you might have to compromise with a minimum price unless your bike possesses something special for attracting buyers.
#3. Why is mileage the most important factor?
Your advertising efforts and market demand and supply don’t matter unless your bike gives a healthy mileage. A majority of modern bikes touch around 5,000 miles a year; hence your old bike needs to compete with them to win the market. On the other hand, few modern bikes can handle heavy mileage on highways; hence, you have to regularly change oil and try to maintain your bike in a healthy condition.
#4. Modifications are inversely proportional to the resale value:
Most motorcyclists love to personalize their bikes to suit their needs. In comparison, buyers like to invest in a motorcycle that resembles factory specifications. Small modifications to the external parts are negligible, but you will have to maintain all the OEM or Original Equipment Manufacturer’s parts intact to get a good resale value from the bike.
Whereas, heavy customizations like adding paints and boosters can also offend few buyers and reduce the bike’s customer base. Buyers are always on a hunt for a reason to reduce the pricing of the motorcycle. There are chances when classic bikes can be restored as it improves their looks and helps attract buyers. Yet, unrestored classic motorcycles have the best value when compared to the same model with minimum restoration.
As mentioned above, modifications have both pros and cons, but some old bikes need additional specs to impress the buyers. For example, all old Ducati bikes having end cans get good pricing, and BMWs with all vital specs attract big buyers in the market.
#6. Significance of perfect timing:
There is no doubt that used or new bike sales are peak during late spring and early summer. Well, nobody on earth would like to drive a bike in ice-cold winters only to get sick. If you need some cash by selling your classic bike, spring is the best season to get quick offers.
The perfect timing to resell the bike also depends on the demand of the bike. If your classic bike is desirable, then you can find buyers all around the year. At the same time, if your bike is not worth you cannot sell it even during peak market season.
#7. Retention is the key to success:
Just imagine your old high school days or your early college days when you had a crush on a specific bike that you always wanted to buy. There are chances that people of your age could share similar opinions, and now they are well-settled and want to seek their high-school bike love. Used bike dealers apply the same formula to their business to earn good profits. If you have something of buyer’s interest the majority of times, you will make good money at the end of the trade.
Well, uniqueness is quite a similar factor to demand and supply. For example, bikes like Kawasaki 650 and Yamaha GTS 1K are still on-demand in the bike market even after decades of their launch.
Also, the term uniqueness is limited to old bikers and some new bikes or limited editions that attract hefty buyers to the bike. For example, Ducati Superleggera and Modern Nortons have recently launched bikes that are quite rare and heavily priced in the resale market.
Whether you are reselling a motorcycle for the first time, you and your bike insurance company cannot negotiate a peaceful solution for insurance claims. A professional motorcycle appraiser is all you need to put an end to unwanted arguments.
Motorcycle appraisal services is a biased professional who will check the bike to figure out the valuation. Well, anyone who has a good idea about their respective fields can be an appraiser. For example, one can use their local authorized bike mechanic as an appraiser if mutually approved by the seller. Here is what you have to look out for a while, hunting down California’s best motorcycle appraisal services.
Insurance companies also have insurance appraisers who evaluate the worth of the vehicle that has undergone an accident to ensure that they provide the right value to the insured person.
The success of the appraisal depends on the experience and impartial nature of the appraiser. It is your responsibility to select a neutral appraiser with the desired level of experience in communicating and negotiating with the appraiser from the opposition’s end. Going for an appraisal is a smart move, while, on the other hand, not selecting the right appraiser can also backfire.
Pros and cons of motorcycle appraisal services:
As mentioned above, an appraisal is a document that certifies the original worth of a property or a vehicle. Having an appraisal in hand is a positive point for both buyers and sellers as sellers. Sellers can have a document that verifies the worth of their used bike. At the same time, buyers can have peace of mind that they are not investing in the wrong vehicle.
In comparison, an appraisal can also be harmful to both parties. If the seller offers a good deal and the buyer still wants to reduce the price and seek an appraiser. It can be hazardous as an impartial appraiser can also provide an increased worth of the vehicle, making shopping expensive. Sellers can also get stuck if their bike’s market value is not good enough to attract the price set in their minds.
You can go with Benchmark Auto Appraisals LLC who is the best and trusted automobile appraiser in the United States. They offer appraisals for the diversity of vehicles at an affordable fee. Book your free consultation right now at 1-877-888-6113.
Certified Public Auto Appraiser Diminish Value Experts B.C.A.A. & I.A.C.P.
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