How to Buy & Sell Your Used Stuff Like a Pro

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Last Updated on July 26, 2021 by Tyler Clark

Do you have a used bicycle or household item to buy or sell?

Here are some buy and sell tactics right from the deepish trenches of the used bicycle market to help you make your next used sale.

First, let me say that I write this article as something to be used completely in good faith.

There’s no need to use sales tactics to take advantage of someone but on the other hand,

there’s also no reason someone should use them to take advantage of you.

Second, the money.

Many people feel they shouldn’t take the surface money in a deal because it’s rude or unfair or they’re taking advantage of someone. If you don’t want to bargain, that’s fine. They key is that you don’t get taken advantage of either.

If you do want to have a fair negotiation, these tips can help you.

Also, because these amounts of money are so small and fairly insignificant, it’s not a big deal who gets them. Most items trade within the ballpark of their true value most of the time. So don’t worry if you give someone a bit of a deal or if you pay a little more for something you buy.

In the end, none of it will be life changing.

That being said, there are some fun and interesting things that happen during any deal and the used bicycle market is no exception.

Here’s what might unfold next time you buy or sell a bike.

I used to Buy and Sell used Bicycles

I would often have a bicycle for sale at around the $500 mark.

I’d try to put a bike together for sale at $550 typically because I wanted to get my general $500 out of the deal.

Now let me ask you something..

Do you think that any buyer coming to see that bicycle would only bring $500 dollars? Sure they might offer that amount because we all know that’s the ballpark price for the bicycle but, would they be ok with paying $520? Probably.

Now $20 bucks isn’t life changing but would you bend down to pick it up off the street? I certainly would. I think even Bill Gates would because it’s: Money.

With that in mind, let’s say my bicycle buyer offers me $500 and they say: “Would you take $500 for it?”

First, the key word here is: would.

They didn’t say I’ll give you $500 for it which is a much stronger and better term to set price with but they didn’t. They said “Would”.

This also means I’ve got $500 for the bicycle now.

My base number is locked in so, as long as I do something super insulting the buyer, that should be a number I can always take if I want to.

Now I can take the $500 but what if I want to try and get more money for the bike? (the amount I get is arbitrary at this point-anything between $500 and $550 would be fine and fair for both parties).

Now Comes the Negotiation

Now simple negotiation would dictate that we meet in the middle but, simple denomination would dictate that it’s going to be $520 because money comes in 20’s.

It’s also just one bill.

If my buyer has to come up with a  $20 and a $5, I’m asking a little more from them and may not get it.

As it stands, I’ve got a fast $20 if I say I’d let it go for $520 or, I can take the $500 and the buyer keeps their $20.

I can also chase for more and the next price point would be $540 in this case. Going for $540 is involved so we won’t bother for this article, let’s just finish off our $520.

Odds are if I say I’d let it go for $520, the buyer will say: sure.

Other responses I’ve received are:

Buyer #1: “Oh, I’ll have to go back to the bank”.

Answer: You say fine. The buyer didn’t say they won’t pay it did they. They just said I’ll have to go get more money. This is fine with you.

Buyer #2: “I’d really like to get it for $500”. (this is what I like to call the pretty please devalue).

I call this the: “Pretty please will you devalue it for me?” statement.

This is a price devalue, they don’t want the bicycle to be worth less, they just want to pay less for it. They’re devaluing the payment, not the product. Notice they didn’t say a tire is defective?

This is a sneaky move too because it has emotion in it. A sympathetic and emotion changing answer is best in this case.

Answer: Try something to the effect of: “Yeah, these bikes aren’t easy to get”. The subplot of your statement agrees with their statement’s subplot that the bike has value. You also see that the bike is valuable and as a result, can’t devalue it.

Buyer #3: “Would You take $535 for it?”

Yes, sometimes the buyer will offer a little more than expected. In this case, take a breath and say ok, that sounds fine.

Try not to be overzealous and jump at the price. Just enjoy being paid for your work and time.

We’re so used to being gouged and beaten down on price that when someone offers closer to our asking, we can feel guilty or like we’re taking advantage of them. This is nonsense provided you’re selling a reasonable product. Take the deal and be happy with a job well done.

Furthermore, the buyer may be paying more for reasons other than the product. They may wish to end the negotiation sooner, pay a bit more because they’ve been looking for awhile or they may just not care. None of these are your personal issue and thus, you don’t need to concern yourself with any of this.

What if The Bicycle Isn’t Worth $500?

When I was selling a bike, I was always trying to find something a little better than the price point I was selling it for. Because I could make good margin on parts and clean up the bike, I could achieve all this through my business process and still make a profit.

But what happens if you show up and the bicycle isn’t worth what you expected?

There are lots of times when I was the buyer of a bicycle.

I’d go and look at a $400 dollar bicycle and find out it wasn’t worth that price point.

A typical buyer will engage when they like the product and disengage when they don’t like it.

An Upset Bicycle Buyer

Facial expressions, body language and especially the head looking around are all signs of a buyer not happy with the deal on the table. I had to catch myself from laughing at times when I would see other buyers looking down the street when they didn’t want to buy something.

You’d see them leaning back a bit and looking far off into the mountains thinking to themselves, “How the heck can I get out of here?”

If you’re buyer is deeply looking sideways and into the distance, this is as close to looking backwards as they can get!

In this case, you may have overpriced your bicycle.

In my case, if I wasn’t interested, I’d leave or purchase the bike at a lower price and sell it accordingly.

When it’s Not The Bicycle You Hoped For

The first thing you can say if you still wish to purchase the bike but you can’t come close to the original price can be:

“Hmmm, this isn’t what I expected”.

This breaks the initial structure and numbers of the sale and dictates a feeling. Feelings are powerful.

You’re telling the seller that you don’t believe the initial price was accurate for the product.

Notice I didn’t pick out something wrong on the bike? I gave an emotional reaction instead. You see, the seller knows what’s wrong with the bike. I don’t need to get into the guessing game with them. I just react in this case and the seller will have no trouble putting together the new situation.

I also don’t go after the seller, this doesn’t work well. 

Bad Buyer Move: If I come right out and say: I’ll give you $300 for the $400 dollar bike”, I haven’t outlined that the original price point is wrong (or at least could be wrong). Instead, I’ve just lowballed right off the cuff without reason or reaction.

Go with the emotional reaction first if merited.

Next try this: 

The next thing you might want to ask is a bottom dollar question: “What’s your bottom dollar on this?”

Now just so you know, you’re rarely going to get their bottom dollar amount right away.

They’re going to give you their bottom dollar amount with a little frosting on top.

This is normal and just a basic self-survival move on their part.

Your reply to that number can be yes or it can be: “Hmmm, ok, I think I can get close/closer/pretty close to that..

Just because it’s their bottom dollar doesn’t mean it has to be yours.

Now typically at this point, you’re going to be getting closer to the true price point of the bicycle (if everyone in the conversation is generally lucid).

Any offer now would probably be better than the starting price but if it’s not, what do you do?

You Must be Prepared to Walk

Now here’s the beauty of walking: You can walk both ways!

If you don’t like the current number, just leave. I’ve done this with cars I wanted to buy a bunch of times.

It’s amazing to me that the salesman waits for me to leave the property before he calls me with a lower price every time. He should just say, drive away for a little bit and then I’ll give you a call with a better deal.

If You Don’t Like the Bicycle, Leave.

Exit lingo: “Sorry, I’m just not a buyer at that price.” “Shoot, that’s too much for today.” “Oh well, doesn’t look like it’s going to happen, take care”.

I should mention all of these are continuation exits. They are friendly and they leave the door open for another negotiation.

In other words, they don’t burn the bridge.

You should only use them if you still want to keep the option open to buy the bicycle.

Notice each statement puts the onus on you and not the seller?

You don’t insult the seller, this does not work well and typically, it either shuts them down or puts them on the defensive.

Statements like:

“Are you trying to rip me off?” or

“You gotta come down in price a bit” are low percentage plays.

What if You Still Want The Bicycle?

If you still want the bike, you can walk and come back. Just don’t say you’re going to do this.

There’s a big difference between actually walking and saying you’re gonna go think about it.

If you say you’re going to go think about it or you might be back, you haven’t cut the cord.

You’re still a fish hooked on the line.

Even if you walk away for 5 minutes, cut the cord. This may be enough to get the seller to lower the price one final time.

Beware, this does risk losing the deal or the product you’re after. 

Now let’s say you walk.

The first thing that’s going to hit you is the “after emotions”. Either “Yeah that was the right move to pass on it” or, “Shoot, I gotta get back there” may come to mind.

It’s tough to get this perspective without cutting loose and walking but if you can, do it because the emotions are so much clearer. They can often make the decision much easier.

I’ve driven away many times from a deal thinking: “Man, I’m glad I didn’t buy that thing” whereas in the moment, my thoughts weren’t quite as clear.

We like making deals and spending money and taking on new things in life.

All that can lean on us during the sale.

You need to remember that even if you’re well versed, there’s a propensity in all of us to make a deal.

It’s fun, we connect with someone and we get completion. These are all deeply rooted pathologies we follow and repeat constantly and they can blur your judgement in the heat of the moment.

So Back You Go to Buy The Bike

This is when not burning that bridge and insulting the seller can come in really handy.

Because you didn’t do anything nasty, the seller will probably be receptive to you returning to buy the item one more time.

But hat in hand you return? What about all that pride?

You can’t go back in shame and crush your ego and return to the scene of the crime and still make a purchase can you?

Sure you can, don’t worry, I’ve done this, it’s no big deal.

The whole trick is that you didn’t sour the seller when you originally left.

Keep in mind, you returning probably won’t get you a better deal on the bike, you’re probably going to have to pay the final discussed price in most cases.

Here are a few lines to help you save face if you feel you need them:

(Pretend the last price discussed was $385).

#1. “I’ve changed my mind, I’d like to get this done, I’ll take it off your hands today for $385”.

#2. “On second thought, I think I’ll take it for $385, see you in 10 minutes”.

#3. “Hey I think I can make this work, I’ll take it for the $385, be right back to pick it up”.

Notice it’s direct, nothing to do with the seller and confirms the price?

These are all good moves.

Once again, you don’t want to insult the seller by saying, yeah I’ll take it even though it’s pricey and or more than I want to pay. This is needless and won’t benefit you in any way.

If The Bicycle Deal Falls Apart

If anything does go wrong, ultimately, there will always be another buyer or bicycle.

I learned eventually that I didn’t need to buy every bike I went to look at.

I also learned that I didn’t need to sell the bicycle to every buyer that came to see it. What we’re all looking for is the right bike for the right buyer. A good deal for everyone is so much better than a haphazard one.

And don’t feel that a deal was a fail because it took time and a bit of gas money to go see it and you didn’t buy it. Piece of mind and the havoc of dealing with a bad bicycle, bad client or alike is way more valuable than a couple of bucks.

So next time you buy a bicycle, keep some of these buy and sell tips in mind for your negotiations. Hopefully they’ll come in handy and help you find a great new bicycle for a good and fair price!

Best of Wealth,

Tyler.