1. Home
  2. /
  3. Personal insurance
  4. /
  5. Bicycle Valuation – How...

Bicycle Valuation – How Much is My Bicycle Worth?

May 18, 2023

If you can get an accurate valuation for your bicycle, then you’ll know how much to insure it for. That way, if your bike’s ever lost, damaged or stolen, you’ll be fully covered for a replacement.

In this post, we’ll share some tips for getting a reliable valuation for your bicycle.

At Anthony Jones we specialise in insurance high value items. If you have any questions about getting cover for your bike, call us on 0208 290 9086 or email personal@anthonyjones.com.

Why Do I Need a Bicycle Valuation?

Like many things, a bicycle’s value can change over time. Your bicycle isn’t necessarily worth as much as it was when you first bought it. It might be worth a lot more now – or a lot less. It’s important to have an accurate valuation to ensure your insurance will cover any damage of theft fully.

Getting a reliable bicycle valuation is vital for getting adequate insurance cover for your bike. If you can tell your insurer exactly how much your bike is worth, they can give you cover that truly meets your needs. You won’t be paying too much for cover you don’t need. And more importantly, you won’t risk being underinsured if you ever need to make a claim.

And all bicycle owners should consider getting good insurance cover for their bikes. Even a minor accident could cause major damage to your bike, in which case insurance can help with the cost of repairs, or a replacement.

What Do Bicycle Thieves Target?

Thieves don’t just target high-value bikes. There’s a major second-hand market for certain bicycle parts, including brakes and sprockets. Thieves may target any bike in the hope they’ll be able to strip it for parts they can sell for profit. This means that all bikes are technically high-risk items, not just expensive bikes.

How To Get a Bicycle Valuation

There are many places that specialise in bicycle valuations. Bicycle Bluebook has a free bike valuation tool, but it’s worth bearing in mind that this is American. For UK prices and the UK market, you may be better off focusing on UK-based valuation services.

Bicycle Bluebook

Bicycle Bluebook maintains a bike value guide “built on a high-performance predictive analytics platform that uses automated machine learning to analyse and report on millions of transaction”. They’ll give you three different figures for your bike’s value: the original manufacturer’s suggested retail price, the price you’d get if you sold it privately, and the amount you could expect if you traded your bike with a dealer.

Take a look at their free tool here. Just bear in mind that this is an American resource, which means that all prices are in dollars, and their valuations are based on the American market. So this might not be the most reliable place to get a bike valuation, but it might give you a good basic idea of your bike’s worth.

UK-based Bicycle Valuations

For a valuation based on UK prices and the UK market, try We Buy Cycle or Going Going Bike. Unfortunately, while both of these sites offer free bike valuation services, both are in the business of buying second hand bikes. So instead of a valuation for your bike, you may instead get a quote for how much they’d pay you. This may not be a good reflection of your bike’s true worth.

If you don’t want to use a free online bicycle valuation tool, you can take your bike to a professional to get an expert valuation or you can try and value your bicycle yourself.

How To Calculate Your Bike’s Value Yourself

First, search for your bike’s make and model on sites like eBay, Gumtree, Halfords, and the Cycle Exchange. This will give you an idea of how much your bike might sell for, which is a good indication of its value. Make sure you get figures from as many marketplaces as you can, so you can work out the average sale price.

Next, perform a thorough inspection of your bike’s key components. Any signs of wear and tear, no matter how small, could affect your bicycle’s value. Pay particular attention to the bike’s:

  • Frame
  • Wheels
  • Drivetrain
  • Gears
  • Brakes
  • Chain

Also consider how old your bicycle is and estimate how many miles you’ve ridden on it. Some older bikes are considered “vintage” and may be valuable. But in most cases, the older your bike is, the less valuable it will be. Its components will wear out over time, and certain designs and technologies can fall out of fashion.

On Discerning Cyclist, they suggest you assume a 50% value deduction after one year of ownership, with a further loss of 10% for each subsequent year of ownership.

Get The Cover You Need For Your Bicycle

Once you have a reliable estimate for your bicycle’s value, you’ll be able to get adequate insurance cover at the right price, with no risk of underinsurance should you ever have to make a claim.

If you have any questions about insuring your bike, call us on 0208 290 9086 or email personal@anthonyjones.com.

Alternatively, you can get your bike insured quickly and easily online now.

Anthony Jones Sponsors On Your Bike 2023

We’re the proud sponsors of On Your Bike 2023 – a charity cycle ride through North Kent to raise money for Alzheimer’s and Dementia support, plus other Rotary supported charities. The event takes place on 21 May 2023, with 15-, 30- and 45-mile routes to choose from.

Learn more about On Your Bike 2023 here.

Get a Quote

You can call us during normal office hours, Monday to Friday, 9am to 5pm. Outside of office hours you can either email us or leave an answerphone message and we promise to get back to you the next working day.

General enquiries:
020 8290 4560

Sign up for news

* indicates required