by Flack » Sat Jun 08, 2019 5:47 pm
My son sold his motorcycle today.
Recap: Oklahoma is one of several states in which you can get a license to drive a motorcycle at the age of 14. In addition to attending a state-sponsored training course, riders under 16 are also limited to 250cc. Shortly before Mason turned 14, our next door neighbor's son turned 16 and was looking to sell his Suzuki TU250X. We purchased it for $2,000, which included a pair of saddle bags and a helmet.
I want to say Mason was about 5'4" when he bought the bike; today, at 17 1/2, he's 6'1". He hasn't ridden it since he got his full driver's license, and so, like our old neighbor's son, he was ready to part with it. I made him a deal that anything over $2k (my investment) he could keep. Always a planner, he listed it for $4,500 on Craigslist and got zero replies.
This week he relisted it for $2,900, and got a counter offer of $2,500. In the end, they agreed on $2,200 for the bike without the saddlebags or the helmet.
The buyer was a 54YO man who had just taken the same training course, and we discovered they use this exact model of bike, which is how he had found the ad. The guy was so uncomfortable around the bike that when I asked him if he wanted to sit on it and start it, he said no. In fact, after he paid for the bike and we had signed the title over, he asked Mason to ride it from the bank (where we made the transaction) to his house. There was one awkward moment when the man got lost leading us back to his house, but my wife had already left with the money so the worst he could have done was... steal his own motorcycle? Anyway, things worked out fine. We delivered the bike, he asked a few in depth questions (which is the brake and which is the clutch?) and then we were on our way.
So, Mason got to ride a bike for 3 1/2 years and made $200 profit; not bad. He says after he saves up some money he may buy a bigger bike in the fall when prices are low. For now though, we're back to one bike in the garage (mine).
My son sold his motorcycle today.
Recap: Oklahoma is one of several states in which you can get a license to drive a motorcycle at the age of 14. In addition to attending a state-sponsored training course, riders under 16 are also limited to 250cc. Shortly before Mason turned 14, our next door neighbor's son turned 16 and was looking to sell his Suzuki TU250X. We purchased it for $2,000, which included a pair of saddle bags and a helmet.
I want to say Mason was about 5'4" when he bought the bike; today, at 17 1/2, he's 6'1". He hasn't ridden it since he got his full driver's license, and so, like our old neighbor's son, he was ready to part with it. I made him a deal that anything over $2k (my investment) he could keep. Always a planner, he listed it for $4,500 on Craigslist and got zero replies.
This week he relisted it for $2,900, and got a counter offer of $2,500. In the end, they agreed on $2,200 for the bike without the saddlebags or the helmet.
The buyer was a 54YO man who had just taken the same training course, and we discovered they use this exact model of bike, which is how he had found the ad. The guy was so uncomfortable around the bike that when I asked him if he wanted to sit on it and start it, he said no. In fact, after he paid for the bike and we had signed the title over, he asked Mason to ride it from the bank (where we made the transaction) to his house. There was one awkward moment when the man got lost leading us back to his house, but my wife had already left with the money so the worst he could have done was... steal his own motorcycle? Anyway, things worked out fine. We delivered the bike, he asked a few in depth questions (which is the brake and which is the clutch?) and then we were on our way.
So, Mason got to ride a bike for 3 1/2 years and made $200 profit; not bad. He says after he saves up some money he may buy a bigger bike in the fall when prices are low. For now though, we're back to one bike in the garage (mine).
[img]https://imgur.com/aTywU1g.jpg[/img]