You may be wondering why our website is called Appraise My Bike. While it’s true that we appraise and also buy all Powersports vehicles, motorcycles make up the lion’s share of requests we get. Industry-wide, motorcycle sales are about double that of ATVs. In addition, there is a higher turnover (people buying and selling motorcycles) for bikes.
Determining Factors When Appraising and Buying
That’s not to say we always limit what we buy on the type of vehicle. There are many factors in determining the current worth of a vehicle. You start with Make, Model, and Year of course. After that, there are the more obvious factors like condition, mileage, maintenance, accessories, etc. In addition, there are factors that the public may not know or think about, whereas, appraisers and buyers must factor in. Here are just a few of them:
- Seasonal demand
- Current market outlook
- Economy and interest rates
- Supply and competition
Navigating the Unknown
Moreover, there are unknown factors like the COVID-19 pandemic and political unrest. No industry or person in this world could track the cause and effect of such upheaval. The demand increased dramatically for previously owned Motorcycles and ATVs. It has now leveled off and the price you can sell them for has dropped.
Powersports Industry Set To Grow
Here comes the good news. The Powersports industry is expected to grow nearly 30% from 2023 to 2030. This of course increases the buying and selling of used bikes and ATVs. With that, the amount you can get for selling your bike should offset typical depreciation factors.
Experienced and Accurate Appraiser
Our website is new, but we are not. With decades in the Powersports industry, we understand the business cycles and current market trends. This is why we’ve geared up and more importantly, are able to provide you with an accurate appraisal and fair offer if you wish to sell now!