My 1967 'Lil' Indian is listed for sale on Bring a Trailer. The no-reserve auction ends on Monday, March 15. Bike is located near Portland, Ore. Have a look.
'Lil' Indian Auction
'Lil' Indian Auction
1967 'Lil' Indian on Bring a Trailer
- Thread starter Tom S.
- Start date
@1stlegendtx, the buyer sent payment direct to my bank account via wire transfer within 24 hours. Failure to pay a winning bid without cause will get you an immediate lifetime ban from Bring a Trailer.
@Gdiddy58, the entire process was great. I got a fair price for my bike, much more than I would have gotten locally. There were more than 100 comments on the auction, mostly from people sharing their old minibike stories. It was a real party. Even after the auction ended people were commenting on the video that I posted of a young boy riding the mini. That vid has been viewed nearly 1,700 times. He really helped to make the sale and I will make sure that he receives a cut of the proceeds.
The auction posting was viewed more than 18,000 times, and more than 750 people subscribed to be sent updates as it unfolded.
The best part was that after sitting for three days at $1,400 with no additional bids, in the end two guys decided that they each had to have it. They went back and forth in $100 increments, running it up by another $700 over 30 minutes. I love when auctions end like that.
Unlike ebay, new bids reset the ending time. There is no sniping. Wait until the last minute to place a bid and the clock adds another two minutes to the end time. It continues like that until people give up and the last man is standing. It is exciting to watch and that is what happened in this case.
It cost me $99 to list the bike on BaT. The buyer paid a $250 fee, so his all-in price was $2,350. Buyer's fee is actually 5% of the sale price, with a $250 minimum and a $5,000 cap.
You must apply to list your vehicle on this site. Not all are accepted because of the huge volume. I think mine was the first old minibike, so its sale was a record of sorts. Once your listing is submitted it takes a couple of weeks for the BaT rep to prepare a listing from the info that you provide. The auction goes live a few days later after y0u approve their work. Then for a week it's fun watching the incoming bids, comments, and questions. Shipping arrangements are the buyer's responsibility. I just wait for someone to come and pick it up. I don't have to box it or crate it or put it onto a pallet. This was my second sale on BaT and I have others in the works.
Here is the riding video with my young friend, Grayson. He is a rock star on Bring a Trailer.
@Gdiddy58, the entire process was great. I got a fair price for my bike, much more than I would have gotten locally. There were more than 100 comments on the auction, mostly from people sharing their old minibike stories. It was a real party. Even after the auction ended people were commenting on the video that I posted of a young boy riding the mini. That vid has been viewed nearly 1,700 times. He really helped to make the sale and I will make sure that he receives a cut of the proceeds.
The auction posting was viewed more than 18,000 times, and more than 750 people subscribed to be sent updates as it unfolded.
The best part was that after sitting for three days at $1,400 with no additional bids, in the end two guys decided that they each had to have it. They went back and forth in $100 increments, running it up by another $700 over 30 minutes. I love when auctions end like that.
Unlike ebay, new bids reset the ending time. There is no sniping. Wait until the last minute to place a bid and the clock adds another two minutes to the end time. It continues like that until people give up and the last man is standing. It is exciting to watch and that is what happened in this case.
It cost me $99 to list the bike on BaT. The buyer paid a $250 fee, so his all-in price was $2,350. Buyer's fee is actually 5% of the sale price, with a $250 minimum and a $5,000 cap.
You must apply to list your vehicle on this site. Not all are accepted because of the huge volume. I think mine was the first old minibike, so its sale was a record of sorts. Once your listing is submitted it takes a couple of weeks for the BaT rep to prepare a listing from the info that you provide. The auction goes live a few days later after y0u approve their work. Then for a week it's fun watching the incoming bids, comments, and questions. Shipping arrangements are the buyer's responsibility. I just wait for someone to come and pick it up. I don't have to box it or crate it or put it onto a pallet. This was my second sale on BaT and I have others in the works.
Here is the riding video with my young friend, Grayson. He is a rock star on Bring a Trailer.
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Thanks for the information Tom. My son and I did a full restoration, including a complete engine rebuild, on a 1979 Yamaha YZ80 a few years ago. The bike has never been off road since the restoration- just a few speed/test runs up and down the street. I am thinking offering it up for sale on one of the auction sites. I will admit, however, that the idea of "no reserve" kind of concerns me if we list it and do not get much "action", and end up "giving it away" and lose our shorts. I want (at least) a couple of buyers like you got who ended up in a bidding war!
Michael
Michael
I love little dirt bikes! My kid started his racing career on a CR80. He had a blast and it scared his mom. Score!
There is some anxiety in an auction sale, but that's part of the fun. On BaT you can easily look at prior auctions for your specific type of vehicle to help you gauge values and trends. That can be comforting and help put you at ease. Just use the search bar like you do here. I suspect that every online auction site has a similar feature and would avoid any that do not.
Be realistic in your expectations. The investment of labor and materials made in a restoration is almost never fully recovered at sale. As time passes, the return on your investment further diminishes.
Look at lots of listings to learn what people do to be successful. The best results seem to go to sellers who give a really thorough and transparent presentation of the vehicle. People seem to sense when the seller is hiding something. I have never seen anyone complain that there were too many photographs. But I have seen people complain about poor or too few photos. There is no excuse for poor photos. Take lots of good pictures, and take the time to make a good video of the bike running or riding. Successful sellers are also really engaged with the process. They review the posted comments frequently and respond quickly to questions and requests for more info.
There is some anxiety in an auction sale, but that's part of the fun. On BaT you can easily look at prior auctions for your specific type of vehicle to help you gauge values and trends. That can be comforting and help put you at ease. Just use the search bar like you do here. I suspect that every online auction site has a similar feature and would avoid any that do not.
Be realistic in your expectations. The investment of labor and materials made in a restoration is almost never fully recovered at sale. As time passes, the return on your investment further diminishes.
Look at lots of listings to learn what people do to be successful. The best results seem to go to sellers who give a really thorough and transparent presentation of the vehicle. People seem to sense when the seller is hiding something. I have never seen anyone complain that there were too many photographs. But I have seen people complain about poor or too few photos. There is no excuse for poor photos. Take lots of good pictures, and take the time to make a good video of the bike running or riding. Successful sellers are also really engaged with the process. They review the posted comments frequently and respond quickly to questions and requests for more info.