Mastering the Art of Selling a High-End Bicycle Online

In my last post, I talked about negotiating a used bike purchase for slightly above $3200 in 2018.

Today, I’ll talk about selling that Canyon Ultimate CF SLX for $2,850 through Facebook Marketplace six years later in November 2024. This sale happened relatively quickly, within a week, even amidst a saturated market for used high-end bicycles. While I felt I priced it fairly, I was still surprised I was able to sell it at that price. I had also listed the bike on Bike Forums, Craigslist, and PinkBike to broaden my reach. Below, I’ll present both the original and simplified versions of the listing I used, followed by a detailed analysis of each.

This structured approach aims to serve as a practical guide for anyone looking to sell their high-end bicycle effectively.


Original Listing

Putting feelers out to see if there’s interest in this before making a decision on a new bike. I slowly upgraded this bike over the years, and it’s now 6.9KG without pedals, or 7.3 with pedals (with bike computer mount, no bottle cages). It’s just a great all around bike and modern in terms of narrow handlebar width, wide rim aero wheelset, and tire clearance for up to 35MM WAM tires.

The color is shadow black (black on black), but I added the gold decals to the frame. I can remove them before shipping if you like.

Would like $2850 net to me + shipping. If you have any interest but feel the price is wrong, message me. I have looked on other services, and this seems fair, but let me know. Open to selling without wheels.

This is the previous gen Ultimate with non-integrated cables.

Geometry: [Link to Geometry]

With Canyon sizing, an XS is more of a Small or 51/52 for other bike brands I’ve found. I’m 5’6 and right between their 2XS and XS sizes. Steerer has been cut down, there’s one 20mm spacer between frame and stem/handlebar.

Everything is in excellent condition. Never raced, not ridden in poor weather. You have to really look slowly and carefully in direct sunlight to find small scratches and wear marks. I’ve taken photos of things I found for the more detail-oriented, but happy to take more photos. The only items that might need replacement soon is the rear GP5000 S TR tire and handlebar tape. I personally wouldn’t change the latter, but it’s just not in “perfect” condition.

*Included Parts:

  • New Dura Ace chain for the buyer
  • 11-28 cassette and 105 50/34 chainrings
  • Canyon H36 one piece stem/handlebar combo, 39MM width
  • Ultegra 8070 DI2 Shifters, 11 Speed Drivetrain
  • Dura Ace 9150 Brake Calipers – rear left caliper has a deeper scratch on the inner rotor facing side
  • Dura Ace 9150 DI2 Front and Rear Derailleurs, RD less than a year old
  • 160mm Shimano 105 7000 cranks + Dura Ace 9100 50/34 chainring, less than 300 miles on chainrings
  • 11-34 ZTTO lightweight cassette
  • Light Bicycle AR465 Wheelset, 46.5 depth, 21mm internal, 28-30mm external, oil slick hubs and spokes
  • Fizik Antares R1 saddle
  • ELITAONE Carbon Seat Post 31.6mm
  • 2x Arundel Mandible-clone bottle cages, 28g each
  • RaceWare 3D printed handlebar mount for Wahoo, GoPro, Light*
Original Listing Breakdown:
  • Introduction: The initial paragraph sets the stage by highlighting the bike’s current condition and upgrades. It’s aimed at enthusiasts who might value specific upgrades and weight reductions.
  • Customization Details: Mention of color and decals caters to buyers looking for aesthetics and personalization, with the option to revert to original looks.
  • Pricing Flexibility: Indicates openness to negotiation, appealing to those who might want to discuss pricing or even part exclusion to meet budget constraints.
  • Specific Use and Condition: Detailing the usage conditions (never raced, no poor weather riding) assures potential buyers of the bike’s good state, addressing common concerns upfront.
  • Detailed Parts List: Provides transparency and builds trust by listing each component, aimed at buyers who understand the value of each part.

Simplified Listing

Ultralight 6.9KG (15.9 lbs) Canyon Ultimate CF SLX disc brake bike. This is the previous gen Canyon Ultimate with non-integrated cables. It’s a great all-around bike and modern in terms of narrow handlebar width, wide rim aero wheelset, and tire clearance for up to 35MM (as measured) tires. It’s fully ready to use for any type of riding environment, including light gravel.

Would like $2850 net to me.

Everything is in excellent and beautiful aesthetic condition. Never raced, not ridden in poor weather. Nothing needs to be replaced soon. Carefully maintained and cleaned over time. Drivetrain always using waxed chain.

With Canyon sizing, an XS is more of a Small or 51/52 for other bike brands I’ve found. I’m 5’6 and right between their 2XS and XS sizes. There’s one 20mm spacer between frame and stem/handlebar. Geometry: [Link to Geometry]

The color is shadow black (black on black), but I added the gold decals to the frame.

*Included Parts:

  • Dura Ace 9150 DI2 Front and Rear Derailleurs
  • Dura Ace 9150 Brake Calipers – rear left caliper has a scratch on the inner facing side
  • Dura Ace 9100 50/34 chainring + 160mm length Shimano 105 7000 cranks
  • Dura-Ace 11 speed chain
  • Ultegra 8070 DI2 Shifters
  • Light Bicycle AR465 X-Flow Wheelset, 46.5 depth, 21mm internal, 28-30mm external, specially designed with decals
  • Canyon H36 one piece stem/handlebar combo, 39MM width
  • Continental GP5000 S TR (Tubeless) tires
  • 11-34 ZTTO lightweight cassette
  • Shimano RT-MT800 160mm rotors, front and rear
  • Fizik Antares R1 saddle
  • ELITAONE Carbon Seat Post 27.2 Offset 20mm
  • Raceware 3D printed handlebar mount from RaceWare (for Wahoo + GoPro /Light)*

Simplified Listing Breakdown:

  • Weight and General Features: Highlights key features in a more accessible language, broadening appeal to less technical buyers.
  • Price Statement: Direct and straightforward, indicating firmness on the price.
  • Condition Assurance: Emphasizes the bike’s excellent condition and maintenance, appealing to buyers who prioritize quality and readiness.
  • Size and Fit: Provides clear sizing information, helping potential buyers gauge fit without technical jargon.
  • Included Parts List: Lists major components, ensuring transparency while keeping technical details to a minimum, suitable for buyers who may not require deep technical knowledge but appreciate knowing what they are purchasing.

Seller’s To-Do List:

  1. Start with a Strong Introduction: Begin by setting the context of the sale and highlighting any unique features or upgrades to the bike.
  2. Detail the Bike’s Condition: Emphasize how well the bike has been maintained, including any specifics about usage (e.g., never raced, not ridden in poor weather).
  3. Be Transparent About Pricing: Clearly state your asking price, but indicate flexibility if applicable. This can help engage potential buyers in negotiation.
  4. List All Included Parts: Provide a detailed list of components and any notable features or customizations. This adds value and can justify the pricing.
  5. Provide Photos and Additional Details: Offer to provide more photos or details to interested buyers, especially those who are more detail-oriented.
  6. Highlight Any Potential Negatives: Mention any minor issues or parts that might need replacing soon. This honesty can build trust with potential buyers.
  7. Use Simple Language for Broader Appeal: For a simplified listing, use accessible language to appeal to a wider audience, not just enthusiasts.
  8. Post Across Multiple Platforms: To increase visibility, list your bike on various online marketplaces like Facebook Marketplace, Craigslist, and specialized bike forums.

By following these steps, sellers can create effective listings that communicate the value of their bicycle clearly and attractively, catering to both enthusiast and general buyer markets effectively.

A Guide to Selling Your Car through Daniel Kahneman’s “Thinking Fast and Slow” Methodology

I recently listed my 2020 Tesla for sale and sold it in 1.5 weeks. Autotrader (or Cars.com?) predicted I would sell it in a bit over 3 weeks considering market demand and my pricing.

An overview of my preparation:

  • I learned that demand for the Tesla Y right now is quite soft, and my research suggested that the overall demand for EVs is not strong.
  • I researched third party pricing through KBB and CarGurus and looked at competing listings both locally and nationally across all sites.
  • I listed on Cars.com, Autotrader ($49), Facebook, OfferUp, and Craigslist ($5). CarGurus disabled their private used car listings a few days before I listed.
  • I looked into sell-direct marketplaces and dealership offers and those offers ranged from $21 to $24K.
  • I took over 30 photos after the car was detailed and shared the maximum allowed for each platform. My approach was, no surprises, you should see everything that you might note in person. Don’t wate your time, don’t waste my time. The lighting was a bit darker than I wanted – I was going for the golden hour, but everywhere in the area around me ended up being shaded at that time.
  • I decided to use KeySavvy to act as an escrow service protecting both sides. I really liked that I wouldn’t need to handle securing payment and because I had a car loan obligation, I didn’t want to create complications for the buyer.
  • My friend Sean suggested I consider using the recently departed Daniel Kahneman’s Thinking Fast and Slow in considering how to write my sales ad. As Wikipedia describes, the “book’s main thesis is a differentiation between two modes of thought: “System 1” is fast, instinctive and emotional; “System 2” is slower, more deliberative, and more logical.”

As a buyer, I want System 2, to read and research carefully and to make up my mind even before seeing the car. I have bought 3 cars and 2 houses this way. However, Sean’s comment was more about, most people are more likely to be System 1 in how they respond to your ad. I ended up doing both. I’ll let you see both formats and then share more notes about the overall experience that closed with the sale.

System 1 Ad Format (the quick reacting, knee-jerk TLDR person)

2020 Tesla Model Y Long Range AWD | Tow Package + More | 51K Miles

Price:

  • $27,750 (FIRM)
  • “Great Deal” rating by CarGurus.
  • KBB Value: $26,721 – $31,228.

Key Features:

  • Tow Package, Homelink, Autopilot (Not FSD)
  • Panoramic Glass Roof, Heated Seats, Premium Audio
  • 19″ Gemini Wheels

Condition:

  • 50,894 miles (80% highway) under one owner (me)
  • Clean title, no reported accidents
  • Light paint wear, small scuffs, light curb rash on wheels (see photos)

Extras:

  • Tinted Windows, Charging Cable, Extra Floor Mats, and more
  • Carpool Stickers transferable in CA

Warranty:

  • Battery & Drive Unit until June 2028 / 120K miles

Purchase Process:

  • Secure escrowed transaction via KeySavvy ($99 fee for buyer)

Maintenance Summary:

  • Regular maintenance, new tires recently installed.
  • Complete maintenance records and Carfax available for review.

The System 2 Ad Format (what I wish someone would prepare for me)

2020 Tesla Model Y Long Range AWD | Tow Package + More | 51K Miles

I’m selling my 2020 Tesla Model Y Long Range All Wheel Drive as the original owner. The car is in very good condition with 50,894 (80% highway) miles and current range of 291 miles.

The vehicle has a clean title. Carfax report and all repair/maintenance records are available for review. CA DMV registration paid for 2024.

Includes the tow package, homelink for automatic garage door opening/closing, and other bonuses. No FSD.

Asking $27,750.

Price rated as “Great Deal” by CarGurus Car Values. Kelly Blue Book Value Range is $26,721 – $31,228.

VIN: [REMOVED].

Purchase Process:
We will use KeySavvy for the transaction. KeySavvy acts as the escrow, ensuring a safe and easy process. Buyer pays a $99 fee; I will pay all other fees. [LINK]

Recent Maintenance:
-3,500 miles on Michelin Pilot Sport EV tires (20K warranty)
-3,000 miles since the last maintenance visit

Warranty:
Battery & Drive Unit Limited Warranties expire June 28, 2028, or 120,000 miles. Basic Vehicle Limited Warranty has expired.

Vehicle Details and Key Features:
-Tow Package ($1,500)
-Homelink – Automatic Garage Door Opener ($350)
-Exterior Color: Pearl White Multi-Coat
-Interior Color: All Black Premium Interior
-Autopilot (Not FSD)
-19’’ Gemini Light Wheels
-5-seat interior
-Panoramic Glass Roof
-Heated Seats
-Premium Audio System

Condition:
-Light paint wear, various small scuffs and scrapes. See up close photos of driver side door (1”), driver side rear bumper (4”) areas, passenger side rear wheel (.2”).
-Light curb rash on wheels.
-Repaired driver side damage from a 2022 incident – work done by Tesla and Nationwide-approved shop.
-Windshield replaced in May 2024 by Safelite.

Additional Inclusions:
-2 Key Cards
-Windows: Tinted for heat reflection ($1,200).
-Charging Cable: Official Tesla universal charging cable ($250) with Gen 2 NEMA Adapter ($35).
-More: Various accessories including an extra set of floor mats, new official paint repair kit, new official tire repair kit, official (installed) mud flaps and more.
-Carpool Stickers: Automatically transfers to new CA owner.

Maintenance History: All recalls addressed
-Sep 28, 2023: Wheel alignment, standard maintenance at 47,553 mi
-Aug 22, 2023: 12V battery replaced
-Oct 10, 2022: OCS Filter Module installed
-Sep 22, 2022: Tow package installed, standard maintenance
-Sep 02, 2022: Homelink installed
-Nov 05, 2021: Maintenance items

More photos: [Link]

———————

Here’s the rest of the story:

  • I ended up pricing at $27,750 after some initial thoughts of $28,250. I wanted to be the best price in the market. Was I giving up some money? Should I price higher to have some wiggle room to negotiate down? Perhaps yes to both, but I wanted anyone who was remotely interested in the car to reach out to me first. I wanted my car to be prioritized among all other listings. I didn’t know how long this selling process would take and in a soft market with high interest rates, I didn’t want to be left standing in a game of musical chairs – I had experienced this a couple of years ago in the housing market.
  • Facebook generated, by at least 10X, the most inquiries of all the car marketplaces, but 90% of them were not serious. I knew this would happen beforehand, so I vowed to myself to not get annoyed. If someone gave me the Facebook’s default “is this still available?” message, I would give the thumbs up icon. If someone clearly didn’t read the description, I’d give a short reply and point them back to the description. If someone made a lowball offer, I’d say “no, but thank you”. I treated it as garbage in, garbage out – people who gave me a system 1 response would get one back in return. People who were more detailed and thoughtful got a similar level reply back as well.
  • Which System Ad was more effective? I don’t know. I started off with the System 2 ad, but switched to System 1 the following week. The eventual buyer ended up coming from Cars.com and originally saw the System 2 ad. I liked working with him because he was always respectful and asked good questions.
  • I ended up selling for a few hundred dollars less than asking. I was still confident I could sell it for my asking price, but there’s a real cost of continuing to work on selling the car to new parties. I felt taking the 1.4% discount and giving the buyer a small win was worth sparing myself of future effort, which could easily be tens of hours or more in the following weeks. I did end up liking the System 1 ad more because it reduced cognitive overhead for buyers, even if it then put the responsibility on the buyer to know which questions to ask – if you think that’s immoral, most private ads I saw are ridiculously sparse in information.
  • I got interested buyers from all the platforms, but if I rank the platforms by true leads, they probably all come in tied at 1 or 2 each. That means that if I were to do it again, I’d relist on all of them except perhaps OfferUp. Someone tried to scam me there by offering to take over my payments and told me to call him. At the same time, OfferUp is free. In general, I suggest having a high level of vigilance in terms of junk / scam offers and following my garbage in, garbage out policy of responding.
  • Keysavvy (as the escrow) ended up being very easy to use on both sides, and the buyer can simply pay and take control of the car without delay. It took two business days for my bank loan to be paid off and to get the remaining amount in my bank account, but the car buyer can buy and leave with the car within an hour. I chatted with Keysavvy’s customer support a few times before making the sale, and they were great in the process. I was able to make sure I understood what to do, what would happen, and things happened with no surprises.
  • Right now, buyers in the US with less than $150K annual income can purchase an EV that’s less than $25K in price from a dealer and get $4K back in federal rebates. ($24K car effectively becomes $20K) So many people who messaged me were thinking about this, but they’d approach me with “why don’t you drop your price to below 25K so I can get the rebate”. Their thought was why doesn’t this seller take less money because it’s better for me? For those who were more thoughtful about a creative way to approach this, I reciprocated. Again, garbage in garbage out. Keysavvy acts as the dealer because technically, the buyer buys the car from them, and you sell your car to Keysavvy so anyone using Keysavvy can take advantage of the EV offer.
  • For buyers who immediately asked for a test drive, I added a filtering mechanism. I’m not a private dealer who’s just available for people to come by, test drive the car and lowball me. I felt that if someone were serious, they wouldn’t mind some extra friction, and I was surprised by how many people ghosted as soon as I sent the filtering message below:

Hi [Name], you reached out to me about my 2020 Tesla Y. A few things I would like to check on.

1) I hope you have been able to read through my notes in detail about the car, the purchasing process, etc. Any questions there?

2) Also, are you looking to test drive and finalize the transaction with Keysavvy at the same time if everything is good?

3) For the test drive, I’d like to ask for a copy/photo of the driver’s license and insurance in advance.

4) I’ll be asking you to follow a specific route that should take us around 10-15 minutes, but provide a feel on various road conditions including freeway. I ask that only the one person (driving) join the car for the test drive.

Please help me by confirming agreement with these four items. As a reminder, I am firm on price.

In summary, here’s my advice when selling a car on your own:

  • Know that it’s an ordeal.
  • Garbage in, garbage out. Don’t waste your time explaining or getting exasperated with most people – with just a little practice, you will quickly figure out who is extremely unlikely to buy, regardless of what they claim. You can still be courteous, but not waste your time.
  • Do your research so you know how competitive your car is in the market and have confidence in your research. To the previous point, make buyers do what you want them to (price, buying terms, etc.). Anyone who thinks it’s a hassle will eliminate themselves.