The used segment is growing and tens of thousands of motorcycles have changed owners via Finn.no this year. “It has been easier to sell a motorcycle privately this year and at times we have seen well over 9,000 bikes for sale on Finn.no. Many believe that the used segment is going to grow despite the fact that the growth in sales of new bikes has not continued to grow into the sky. Many new sales often mean that more used bikes will be sold at dealers or on Finn.no. Sales of light and heavy motorcycles have declined this year, while A2 has seen positive and gratifying growth, but despite the fact that fewer new bikes are being sold overall, we are selling more used bikes than ever before. This may indicate that the second-hand market is more relevant and could become a more important source of income for dealers in the years to come. Finn.no has had an almost therapeutic effect on many motorcyclists and many spend hours every day updating or building a decision-making basis for their own procurement strategy or plans for the realization of new dream projects. The marketplace has become large and important and is used almost as a reference work in addition to serving the function as a marketplace for both private and professional players in the MC industry. Not everyone is as enthusiastic about the site’s monopoly situation, but it seems to be virtually impossible to establish a competing business. Many people spend hours on Finn.no every evening to gain insight and knowledge about the state of the market, supply, demand and not least prices. But how representative these prices are and what the bikes are actually being sold for is unknown, as this data is not published on the Finn platform and we assume that the majority of bikes are sold at lower prices than what is initially demanded on Finn.no. We have done a simple analysis of the price differences on 15 models from 2021, 2022 and 2023, in five different segments to see what similar bikes in the same category are posted for and here there are big differences. With some exceptions, we find that within the same model and segment there are price differences of between 15 and 30%, which is quite a lot and it surprised us. As we have not physically seen or inspected the bikes, we assume that these bikes within the relevant period (2021 – 2023) have a reasonably similar and acceptable technical standard, after all, there are limits to how much you can manage to destroy in such a short time, and mileage is with some exceptions also reasonably similar. The sometimes large price differences undoubtedly mean that some people have unrealistic expectations of the value of their own bike, and a high price undoubtedly means that retailers have to take longer to sell. The value of extras is usually also significantly exaggerated and normally has little or no effect on the sales price. A lot of equipment normally only means that the bike is easier to sell. In the second-hand market, a distinction must be made between private and dealer-based second-hand sales. Dealers can and should charge a higher price because they normally offer a warranty that has a value for the buyer, private sales are rarely or never covered by warranties and the risk is therefore higher unless the vehicle is still covered by the brand warranty and the Sale of Goods Act. The dealership association’s (NMCF) own dealer authorization is the guarantee that the industry acts in an orderly and predictable manner towards customers, which is a good thing. You can read more about the NMCF authorization
here.
We believe that dealer-based second-hand sales will grow in the years to come and at the time when it will no longer be legal to sell new gasoline-powered motorcycles, it is guaranteed to explode.
The Finn marketplace works like any other marketplace and is driven by supply and demand, desired image, price, mileage, condition, extras and geographical location. In the search phase on finn.no, the selection is often not particularly rational, but rather emotionally driven, and is usually done in the following order:
- Model and desired image
- Price
- Assessment of condition based on photos and service/maintenance performed
- Vehicle mileage
- Optional extras
- Geographical location of the bike
If you operate in the private market, you should be able to expect the price to be significantly lower than in the retail market.
However, our small study of the second-hand objects on finn.no shows that many of the sellers do not take this into account.
They seem to think that their own bikes are very special and can therefore justify a sale price in the top tier where the dealers are located!
So it takes time to sell.
If you need to sell quickly, you need to find the bottom of the right segment and get close to this level. Like the geopolitical and monetary situation, the trend in the MC industry is changing and it’s not easy to say how this will affect the sale of capital goods.
However, it doesn’t take a rocket scientist to predict that we are entering a period where people will be more cautious about spending money.
This, combined with the introduction of new and more sustainable technology platforms, will probably also mean that both prices and interest in what is then available on the second-hand market will increase.
The average age of the Norwegian motorcyclist is quite high and we currently swear allegiance to combustion technology, so for the time being this is what counts.
How the next generation will meet their own mobility needs, hobbies and urge to explore is something we know little about, so we need more time and data to understand.
The only thing that is certain is that when the production of combustion technology stops, demand will increase, and perhaps the price too!
Perhaps this means that more dealers in the future will focus more on the second-hand market, which will be the only channel for selling petrol-powered motorcycles.
It remains to be seen whether Finn.no will continue to be the leading channel, but it will undoubtedly take some doing to gain control of an alternative in this market.
Many have tried, but none have succeeded.
