Join Date: Jun 2004
Location: Northern Nevada
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One of the regular guests on my radio show is a guy who deals in "collectibles," a word I hate, but he talks about the benefits of private sale vs. trade all the time. Summing things up, he says he's a dealer, and he'll buy or take in trade almost anything--but he has to make money on the deal at some point. If you just want to get rid of the bike with minimal hassle, go to the dealer. But remember that he has to clean it up, keep it in stock and eventually sell it at a profit, so he can't afford to give you a premium price.
If you'd like to make a little more money, then you have to do the work: Clean and tune the bike, market it somehow and deal with the eventual purchaser.
In this case, I'd probably keep it. The cash value isn't going to be very high, and you can always use a spare bike for rainy days or whatever. The mods, paint etc. you've done probably don't increase the value much--a buyer will EXPECT the bike to be clean and functional, and won't pay extra for that. If it's really a 24-inch frame, that could be a factor, though. That's a pretty big bike, and larger used bikes in good condition are hard to find. If you luck into a 6'2" rider, he might pay $25 extra or something.