NOS, consider yourself a custodian, taking care of your brother's love of cycling.

In all likelihood, he is attending to his affairs before what appears to be the inevitable outcome, and rather than seeing his cycling items being liquidated to cash in the administration of his estate, he would rather they go now to someone he knows will appreciate them, and help maintain strong memories of good times together.

He probably has given this considerable thought, and to deny him the offer might not sit well with him, as in the longer term, it might not sit well with you.