Pricing a used motorcycle is not an exact science, and prices fluctuate wildly by area, condition and rarity of the model. There are many variables involved in the valuation. Guidelines and information are available that will help you negotiate, but exact pricing is not an easy thing to come by unless you have a daily immersion in the market. The two most reputable publications for acquiring the detailed specifications and any accessories of value on the bike are the National Automobile Dealers Association and the Kelley Blue Book guides. They will also give you retail and wholesale/trade-in prices, but you will need to do a lot more research beyond finding their valuations.
Use the Kelly Blue Book and NADA guides to find the exact model of your motorcycle including the value of any installed factory accessories or upgrades. These will then give you an initial high -- retail -- and low -- wholesale/trade-in -- price based on the historical sales data that they have researched; once you've done this, broaden your search.
Find similar bikes for sale in your area by researching the classified ads in the automotive sections of newspapers and specialty magazines. Search for your motorcycle online and check out the forums for your bike of interest. Check with local dealers. Once you have done this, you will have a good idea of high and low prices.
For example, if you take the Kelley Blue Book values on a 2005 Honda VT750 Shadow in good condition the retail price would be $3,210 and the wholesale/trade-in price would be $2,180. To this, you can add any optional equipment listed and adjust for mileage and condition, which is usually a more important factor than mileage.
Most of the data in the two price guides is self-evident -- mileage, installed factory accessories and factory upgrades. The variable, however, is the condition of the bike; if it has mechanical problems, has been damaged or is in overall poor condition, then the valuation will be reduced. Motorcycles have five condition levels ranging from scrap-value to immaculate .
The NADA and Kelly Blue Book guides list mostly manufacturer-approved standard equipment that is available from the dealership. There may be some really cool aftermarket stuff on the bike, such as engine modifications or a custom paint job. Realistically, if you have done a lot of customization work on your bike, you won't get back what have put into it financially, unless you have restored a rare or vintage bike, for example. But, the kind of modifications mentioned here may provide added value to take into account.
A visual inspection and a test ride are important ways to assess the bike's condition, especially in terms of starting, stopping and handling. Every buyer will want to have the bike road-tested either by himself or an expert, and the result will affect the valuation.
Technology makes it relatively easy to check out a motorcycle's history. All you need is the vehicle identification number. Service records will also tell you whether expensive parts have been replaced at the manufacturer's recommended mileage.
If you are still unsure of the value of the bike -- perhaps because of its vintage nature or rarity -- the opinion of a professional appraiser may be a worthwhile investment.
Once you have done all of this background checking, you can go into the negotiations fully informed -- all that is left is for you to accept or refuse the offer.
