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How To Buy Your Dream Bike For $50 Dollars

Updated on February 6, 2011

Dream Bike

Getting Started

Have you ever been to a bike shop and seen some nice $3000- $4000 bikes and thought , i d love to have one of those but haven't had the money ? If you love bikes wether they are mountain or road bikes then read on . I have bought 2 of my dream bikes and only started with $20 No B&LSH@T !

Here's some ideas how i started .It will take a little time to do but if you want a nice bike its not too much ..time.

First of all bike parts are GOLD !Not really but that's what i refer to them anyway . If you want to buy a wheel it can cost you from $90 for a cheapie to $500 + for one wheel !, a crank set will cost $80 to $500 as well , disc brakes $100 a piece .You get the idea As you can see there not really cheap ,but that's how much they cost in a lot of bike shops for example if you want to get a bike serviced it will cost at least $80 to $200 especially if you've got a high end bike with great suspension .It usually costs a couple of hundred dollars to service a car and these days that's how much for some bikes !

That's a lot of cash , you can buy a half decent bike for $80 - $200 2nd hand

How To Make Some Moola ( Cash )

SELL ON EBAY !or any Online websites !

Here's what i did ,I found a cheap bike ( a road racer ) that i bought from a charity shop for $20 - I cleaned it up just virtually took off some dirt and put it on EBAY - It sold for about $105 dollars , I then bought a giant mountain bike second hand from a pawnbroker for $90 , gave it a little clean and sold it for $275 dollars

I kept doing this with different bikes that i was given , bought for $30 , $50 of ebay etc ,

I also stripped parts of bikes and sold them separately and made profits of 500% +

as an example i bought a mountain bike that needed a bit of work it cost me $80 and it was a few years old . It was a nice bike but just need a few bits to make it work .Instead of fixing it i stripped it and sold the parts .

Here's my money breakdown

I sold the seat and seat post for $40 , the frame for $60 , the cranks and bottom bracket $50 , the front shocks for $100 , the wheels for $60 , the rear derailluer for $15 , 2 disc brakes for $120 , front derailluer for $15 - I kept the pedals , the chainring , and the bashguard ! All up my profit $460-$80(initial investment) - ebay fees about $40 =

$340 was the money i made of the transaction , i ve done this so many times that its not funny . I also would by a bike for $200 and sell it for $500 .

Here's a few tips to get you started - and what you ll need -

TOP TIPS TO GET YOU STARTED !

* Get Some basic tools ( Once you get some cash invest in a good tool kit which will cost around $80 -$120 ) Or you can buy the tools from your LBS ( Local Bike Shop ) For around $10 -$25 each- for bikes you need chainwips , bottom bracket removers etc and these are specialized tools

* You ll need to research , and source some bike and bike parts eg EBAY , Local paper , garage sales

* Always negotiate - buy low sell high , I cant stress this point enough everything's negotiable . If i want to buy a bike on ebay and it costs $400 i might ask the seller politely if they would consider $200 or $220 , sometimes people will say they ll take it or they ll take $300 or $320 , especially if the bike doesn't sell on ebay people sometimes just want to get rid of them , and they ll take $100 -$200 off the price , Ive bought a handle full of bikes for around $200 -$250 that i could have easily sold for $500 -$600 most i kept

* When you sell on eBay always check what similar items can sell for , always start with a high bid eg $50 for a wheel , Also be patient sometimes it make 2 or 3 re-lists before your item sells , as an example i once sold a bike frame for 99c , the buyer paid me but because he lived 130 km away he didn't want to pick it up so he just gave me a 99c donation and let me keep the frame , so next week i relisted the item for $40 and it sold for about $44.

I learnt a big lesson there ! Ebay can be hit and miss so you need to set a higher starting bid to get the right amount of money .and also be patient it costs usually between $1.44 - $2.10 to list for 7-10 days so it might cost you around $6 to sell the item over 3 weeks that's better than getting a low price

* Make sure your decription and photo is clear and looks good

* Use key words to sell your bike or parts for example if i was selling a bike i might sell a giant stp mountain bike, but i would make my listing say giant stp mountain bike norco kona xc downhill , now as an example if people search on ebay for a mountain bike , then because your listing has mountain bike it will come up , if people look up giant it will come up and if people look up norco bike it will also come up ( you get the idea ), this technique will potentially give you 300 people looking at your item instead of 100

* To disassemble bikes a great website is you tube and this will show you how to do most things , also speak to your local bike mechanics and forums (Ive learnt how to rebuild a full bike from you tube and just talking to people ) I love you tube !

* If you sell on ebay try to make your postage about $2-$4 more to help cover your ebay paypal fees

* You might even consider setting up an ebay store if your selling lots of items like cogheads cycle factory

* Once you start making some good money keep reinvesting and buying more bikes and parts , eventually you'll have $3000-$4000 or more to buy your dream bike( sometimes those $3000 - $4000 bikes will cost $1000-$1500 if you buy them 2nd hand

* Give good service to people post fast (once money cleared)

* Trial and error is the best teacher sometimes !

Final Thoughts Check out the link below its my bike parts store its growing if you found this blog helpful let me know also any other feedback - Cogheadscyclefactory


Kram Cezrok

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