In August I will be purchasing a new bike at my local bike store. They accept used bikes as trade ins, and I am wondering if there is an advantage to doing this over a private sale.
Also, how should I go about evaluating the price I should accept for my bike?
I was planning on keeping the old bike until now, and have decided I really am not going to use it anymore and would rather someone else enjoy it.
Here is the low down on it:
1993 GT Karakoram steel frame 24" (In another thread we discussed how this frame is classic and desirable to some mountain bike/xc/tour folks).
I have not used it on the road at all since I made these changes:
Converted to single crank in the front and 8 speed rear (basic Shimano components).
I repainted the frame and fork (stripped, primed, base coated, and clear coated it).
Installed new brakes (levers and calipers and cables), rear wheel, chain, and tires.
The only thing that could be replaced soon is the front wheel. Otherwise it is like new.
All of the new stuff above was obtained at the bike store I will be purchasing the new bike from, so I assume that would have some influence on their assessment if I do a trade in. They also have seen the frame and commented on the paint being very well done.
Any thoughts on how much it could be worth these days? I certainly trust the guys at the shop to give a fair price, but I wonder if a private sale would be better. They would have to turn it around after all.