Bike Auctions

As most of you know my Blade got stolen Last year and i ended up not being able to afford to replace it due to the Insurance royaly fooking me over!!

My bike was recovered and went to auction (without my knowledge) the bike was worth £8,000 but sold at auction for £2,300 (new owner contacted me asking if i had any of the bits still!!)

I’m thinking of going to the auctions and looking for a KTM 690SMCR & a 2010 CBR1000RR Fireblade as i reckon i could get both bikes for the same price as i would pay for just one of them normally, has anyone had any experience of Auctions and if so where are the good ones to go too? i’ve looked on line and there is one in Canvey Island that has both those Bikes on their books but no real details about them and the KTM looks like it could be a Track Bike so i will probably steer clear of that one. 

I’d imagine it had sustained a fair bit of damage for it to only have made £2,300 at auction.

£5,200 would have been nearer the mark at auction for an £8,000 bike, assuming it needed little more than a wipe over with an oily rag to get it up to showroom standard.

Used bike prices can be guesstimated from the RRP, where the RRP is what a dealer would be asking for a showroom prepared bike.

Private sale would be RRP less 15%

Auction sale would be RRP less 35%

Dealer trade in value would be RRP less 45%

There’s a place in Leyton

did the guy tell you which auction place got it from? i know of a few but have to be in the trade to access…

on this link, there is a list of bike for sale this week in Peterborough

If you know that your bike was sold at an auction, how was that legally done? Wouldn’t you be contacting the police to get it recovered from the new “illegitimate” owner?

Unless bike auctions are a legal place to sell illegally obtained bikes…

its all legal - the bike was stolen, recovered, then sold by the insurance company. Since they’d already paid marmablade on his policy; it was the property of the insurance company who sold it on…

That makes sense. Thanks Abzero

Yes as Abzero says, I was paid out for the Bike so was sold completely above board. I asked the Insurers why they never contacted me to see if i wanted it back or at least to tell me it was going to auction and they said they never tell the previous owners to avoid fraud, i could’ve got it stolen and then bought it back really cheaply.

Regards the damage on it, It required a new Lock set and ECU and a new Tank Cover which if you know where to look will set you back no more than £1,000. so the guy had the deal of the century, especially when i told him it was custom mapped with a £500 BAZAZ unit!!!

Wouldn’t a new lock set, ECU and tank cover have written it off at dealer prices? Hence it went so cheap.

Interestingly another chap on here got his bike back. Insurance refused to pay out because it wasn’t stolen from the registered address where it’s supposed to be kept at night. So when it was recovered he got it back.

Mine was from work and i had Commuting on my policy otherwise they wouldn’t have paid out on mine either

Yes a lock set ECU and Tank cover with Dealers Labour charges would probably have wrote it off

Yes a lock set ECU and Tank cover with Dealers Labour charges would probably have wrote it off Marmablade
Plus dealers would want to know why you need new locks, ECU etc, and make it really difficult. 

The dealer prices is only hypothetical, isn’t it? Answering why a dealer wouldn’t buy it.

You can just get the keys, locks and ECU second hand.

So what do you think the asshole thieves got out of this? Doesn’t sound like anything if the bikes been sold in such condition

they got a pretty bike to use and abuse and then they dumped it… People don’t do burn outs on bikes which they pay for themselves…

I suppose it can be expected from the stupid thieves to risk a criminal record for stupid gains (not making $$$).

A smash and grab raid most likely

Errrr yes they do treacle :kissing_heart: