Selling a bike safely, any tips? - Page 2 - Kawasaki Ninja 300 Forum
 1Likes
Reply
 
LinkBack Thread Tools
post #11 of 20 (permalink) Old 05-01-2015, 11:09 AM
Post Whore
 
ducati_dave's Avatar
 
Join Date: Aug 2013
Location: IL and LA
Posts: 1,917
Thanks: 144
Thanked 568 Times in 461 Posts
Quote:
Originally Posted by cadd View Post
I have many tricks up my sleeve as I sold and purchased many used cars & used bikes privately. To get lowballers and tire kickers to play with themselves.....this is how I recently sold my 250 (a few weeks ago):

I advertised it on CL for $2,400 while everyone was advertising at $2,600 - $3,300. Mine hasn't been dropped. I had $2,700 as the lowest number I would let it go for in my heart. So why did I advertise it as $2,400??? It's kinda an asshat move.....

In the ad, I wrote, "I need it gone ASAP....that's why the low price. No time to play game. No time to show the bike. I am extremely busy." I had a lot of e-mails. I did not reply to any of them for almost a week. A week later, I replied to all the e-mails saying that I am extremely busy and that the only time I can show the bike was on Sunday at 3pm. If not, they'll have to wait 2 weeks before I will be available again. This gave them 3 or 4 days to wait and think until Sunday.

On Sunday, I showed up at 3:15pm. There were a few people there already and two more showed up after I arrived. Let the bidding war begin. Got much more than my $2,400 asking price.

Yeah.....I'm an asshat. But I didn't want to deal with the low balling offers and tire kickers. If they think there's a demand, they'll pay more.....especially when other buyers were right there to take it if they didn't take it. And everyone likes to "win" right? It's an emotional game.

And if no one wants to play the game and the highest offer I get is $2,400....I don't want to look like a completely douchebag by not honoring the price I advertised (even though I could just walk away). I have a my brother in a car parked in the parking lot watching (in case I get robbed or shot). Once turn to his direction and give a hand signal (crack my knuckles), he calls me. I answer the phone telling him the bike is almost sold. Then tell him how much. Then I put him on speaker and ask him to tell me what he just told me again. He proceeds to offer $2,600 sight unseen.

Born in NYC and lived in a few countries in SE Asia for many many years....you learn how to play hardball.

But never had to do that yet.
Many people would consider what you did with your brother to be a scam. If you were a legitimate business / auction house and you did that with planted buyers you'd be sued to oblivion.

For the original thread - cash only. Doesn't matter how "high" the price. I've transacted many ninja 300's higher and it's always the same. Just make sure you know the process for selling and registering a vehicle in your state and document everything.

Dave


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


2013 Ninja 300 (stock for now)
2012 Audi S4 (grocery getter)
2007 Ducati 1098S (not stock)

Last edited by ducati_dave; 05-01-2015 at 11:12 AM.
ducati_dave is offline  
Sponsored Links
Advertisement
 
post #12 of 20 (permalink) Old 05-01-2015, 11:52 AM
Post Whore
 
cadd's Avatar
 
Join Date: Jan 2014
Location: 4121'13.1"N, 7441'37.4"W
Posts: 1,780
Thanks: 432
Thanked 352 Times in 264 Posts
Quote:
Originally Posted by ducati_dave View Post
Many people would consider what you did with your brother to be a scam.
Never had to do it. Just a back up plan.
cadd is offline  
post #13 of 20 (permalink) Old 05-01-2015, 02:35 PM
Seasoned Vet
 
Michael V's Avatar
 
Join Date: Nov 2013
Location: New Jersey
Posts: 1,266
Thanks: 400
Thanked 318 Times in 229 Posts
Garage
Quote:
Originally Posted by cadd View Post
I have many tricks up my sleeve as I sold and purchased many used cars & used bikes privately. To get lowballers and tire kickers to play with themselves.....this is how I recently sold my 250 (a few weeks ago):

I advertised it on CL for $2,400 while everyone was advertising at $2,600 - $3,300. Mine hasn't been dropped. I had $2,700 as the lowest number I would let it go for in my heart. So why did I advertise it as $2,400??? It's kinda an asshat move.....

In the ad, I wrote, "I need it gone ASAP....that's why the low price. No time to play game. No time to show the bike. I am extremely busy." I had a lot of e-mails. I did not reply to any of them for almost a week. A week later, I replied to all the e-mails saying that I am extremely busy and that the only time I can show the bike was on Sunday at 3pm. If not, they'll have to wait 2 weeks before I will be available again. This gave them 3 or 4 days to wait and think until Sunday.

On Sunday, I showed up at 3:15pm. There were a few people there already and two more showed up after I arrived. Let the bidding war begin. Got much more than my $2,400 asking price.

Yeah.....I'm an asshat. But I didn't want to deal with the low balling offers and tire kickers. If they think there's a demand, they'll pay more.....especially when other buyers were right there to take it if they didn't take it. And everyone likes to "win" right? It's an emotional game.

And if no one wants to play the game and the highest offer I get is $2,400....I don't want to look like a completely douchebag by not honoring the price I advertised (even though I could just walk away). I have a my brother in a car parked in the parking lot watching (in case I get robbed or shot). Once turn to his direction and give a hand signal (crack my knuckles), he calls me. I answer the phone telling him the bike is almost sold. Then tell him how much. Then I put him on speaker and ask him to tell me what he just told me again. He proceeds to offer $2,600 sight unseen.

Born in NYC and lived in a few countries in SE Asia for many many years....you learn how to play hardball.

But never had to do that yet.
Saving this...

2014 Ninja 300 ABS SE Red/Black (Totaled)
Mods: Shorty GP Exhaust, Driven Clip-Ons, Yoshimura Rearset brackets, TST Industries LED integrated tailight, TST Industries Fender Elminator, Airbox and snorkel delete, K&N R-0990 Pod Air Filter, AllBalls steering stem bearings, 13/44 Sprockets, Pirelli Diablo Rosso 2 140/60 Rear Tire, Diablo Rosso Corsa 120/70 Front Tire, Power Commander V
2013 Suzuki GSXR 600 Blue(SOLD)
2009 Yamaha R1 Black/Red(Totaled)

2003 Ducati 999

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Michael V is offline  
post #14 of 20 (permalink) Old 09-29-2016, 08:04 PM
Veteran
 
Topaz's Avatar
 
Join Date: Feb 2016
Location: South Florida
Posts: 327
Thanks: 17
Thanked 14 Times in 14 Posts
Nice thread.

I'm trying to sell my bike now to a private party from CL.
He offered me a cashiers check.
He said he asked a personal loan for the motorcycle and he will receive the money as a cashiers check on my name.
The cashiers check will be for the exact amount and it will be on my name.

How does this procedure sound:
I meet him at his bank and pick up the check from the cashier. We put it in a closed envelope signed by me.
From there, we meet again at my bank, fill up the title and Bill of Sale, pull the check out of the envelope and deposit it, then sign the Title and Bill of Sale.
He walk out with the bike, the title and the keys. The check is on my account.

Safe enough? Any risk?

Last edited by Topaz; 09-29-2016 at 11:05 PM.
Topaz is offline  
post #15 of 20 (permalink) Old 09-29-2016, 11:39 PM
Seasoned Vet
 
dkw12002's Avatar
 
Join Date: Sep 2012
Location: New Braunfels, TX
Posts: 958
Thanks: 16
Thanked 138 Times in 116 Posts
I sold two bikes on consignment. A dealer I knew sold them for me, took 10% and sent me the rest. He did better than I probably would have and I didn't have to deal with people, advertising, or taking a risk of not being paid. One bike sold the same day I put it up for sale and the other one took about a month. He basically got full retail price for the bikes.
dkw12002 is offline  
post #16 of 20 (permalink) Old 09-30-2016, 03:41 PM
Post Whore
 
cadd's Avatar
 
Join Date: Jan 2014
Location: 4121'13.1"N, 7441'37.4"W
Posts: 1,780
Thanks: 432
Thanked 352 Times in 264 Posts
Quote:
Originally Posted by Mariano View Post
Nice thread.

I'm trying to sell my bike now to a private party from CL.
He offered me a cashiers check.
He said he asked a personal loan for the motorcycle and he will receive the money as a cashiers check on my name.
The cashiers check will be for the exact amount and it will be on my name.

How does this procedure sound:
I meet him at his bank and pick up the check from the cashier. We put it in a closed envelope signed by me.
From there, we meet again at my bank, fill up the title and Bill of Sale, pull the check out of the envelope and deposit it, then sign the Title and Bill of Sale.
He walk out with the bike, the title and the keys. The check is on my account.

Safe enough? Any risk?
If I were the buyer, i would not allow you to hold the bank check without the title. What if you run off? That cashier's check is as good as cash. If you decide to run off with that check, you can immediate cash it and still have your bike.

Riding it like I financed it.
cadd is offline  
post #17 of 20 (permalink) Old 09-30-2016, 03:42 PM
Post Whore
 
cadd's Avatar
 
Join Date: Jan 2014
Location: 4121'13.1"N, 7441'37.4"W
Posts: 1,780
Thanks: 432
Thanked 352 Times in 264 Posts
Quote:
Originally Posted by dkw12002 View Post
I sold two bikes on consignment. A dealer I knew sold them for me, took 10% and sent me the rest. He did better than I probably would have and I didn't have to deal with people, advertising, or taking a risk of not being paid. One bike sold the same day I put it up for sale and the other one took about a month. He basically got full retail price for the bikes.
How does it work with the title? Did you have to sign the title? If I were a buyer, I would question why the title shows Joe Smith and have Joe Smith's address on it.

Riding it like I financed it.
cadd is offline  
post #18 of 20 (permalink) Old 09-30-2016, 08:59 PM
Seasoned Vet
 
dkw12002's Avatar
 
Join Date: Sep 2012
Location: New Braunfels, TX
Posts: 958
Thanks: 16
Thanked 138 Times in 116 Posts
I signed the title and handed it to him in both cases when he took the bikes...AF1 Racing picked them up at my house. They gave letters stating they had the bikes and were selling them on consignment. This was a legitimate business (AF1 Racing) and not an individual and you shouldn't have an issue with a dealership. I didn't put a minimum price on the bike, but you could certainly do that. The fact one of them was a brand new 2016GTV300 scooter that someone backed into and AF1 sells Vespa made that choice a lot easier since they sell a lot of those. The reason I sold it so soon was AF1 moved to Austin from my home town, so I didn't want to deal with an out of town dealership. That's the one that sold for full price. The kid who backed into me had insurance and it paid. Funny story. The insurance company asked for an estimate and so I told AF1 and they submitted it. The ins. co. (Allstate) got the estimate and an agent called me and said they were sending out the full amount of the estimate. When that check arrived, I signed that and sent it to AF1. Turns out, the cost of repairs was not as high as their estimate, and so I actually got a couple hundred more than I thought I was going to. The other bike was a 2015 GSX-r 600 that I sold after getting a huge traffic ticket and decided to stop speeding. Took him a month to sell that one but he had pictures of it and advertised on the website so lots of people looked at it. I could have just sold it to him (the owner of AF1), but he said I would do better to sell it under consignment and I did. The fact I have bought 25 new bikes from AF1 and the owner is a friend of mine was another reason I didn't hesitate to do it this way. I don't even know if other dealerships sell bikes this way. I know they advertise buying bikes, but I don't think that gets you a very good price even though you wouldn't have to worry about getting your money. Ha ha. More info than you wanted.
dkw12002 is offline  
post #19 of 20 (permalink) Old 10-02-2016, 12:31 PM
Veteran
 
Topaz's Avatar
 
Join Date: Feb 2016
Location: South Florida
Posts: 327
Thanks: 17
Thanked 14 Times in 14 Posts
Quote:
Originally Posted by cadd View Post
If I were the buyer, i would not allow you to hold the bank check without the title. What if you run off? That cashier's check is as good as cash. If you decide to run off with that check, you can immediate cash it and still have your bike.
Exactly. One of the parts has to trust the other or the deal doesn't happen. Either I trust him and accept the check risking it may counterfeited, or he trusts me and wait for the check to clear while I could disappear and he ends empty hands.

He got a cashier's check because the money came from a loan, and the loan gets approved only after he picked the bike, he said. So he doesn't have many options. He cannot buy cash. He could go to a dealer with his check and pay more for something similar.

Another option that I will find out on Monday, is if my bank can validate the check before accepting it. If someone in my bank calls his bank and he tells me the check is good, we could do everything at once in my bank. He deposits the check and leaves with the bank.
Will find out on Monday.
Topaz is offline  
post #20 of 20 (permalink) Old 10-03-2016, 09:56 AM
Seasoned Vet
 
Elijah's Avatar
 
Join Date: Mar 2014
Location: The Democratic People's Republic of Austin, Texas
Posts: 664
Thanks: 109
Thanked 125 Times in 101 Posts
Garage
What do you guys think of doing the deal at the police department? Some of our local police departments have offered up their lobbies as a supposed safe place you can go to do the deal.
XxBeerTimexX likes this.

Q. Why do I ride?
A. Because I've never seen anyone jogging and smiling.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


2012 Ninja 650
2011 ZX6R
Elijah is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Kawasaki Ninja 300 Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Selling my bike jvhjgh2006 Ninja 300 General Discussion 4 08-05-2014 09:55 AM
Tips for selling damaged Ninja? Cork Ninja 300 General Discussion 3 07-11-2014 10:37 PM
Advice on selling bike that you are still financing. irey33 Ninja 300 General Discussion 3 01-28-2014 03:08 AM
Sad day, selling my bike. Texas300 New Rider Section 40 11-20-2013 09:08 PM
Selling bike probably, price? MikeA Ninja 300 General Discussion 12 07-20-2013 03:43 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome