Even the Pope himself is finding the used bicycle market a challenge

The bicycle industry, used or new, is challenging right now, so much so that even a bike owned by the Pope sold for thousands of dollars lower than expected.

Recently, a unique tale unfolded as Pope Francis decided to part ways with a special gift – a custom Pinarello Dogma F12, presented to him by cycling champion Egan Bernal back in 2021.

Egan Bernal presents Pope Francis with gift

On June 16, 2021, Egan Bernal, fresh off his victory at the Giro d’Italia, met with Pope Francis at the Colombian embassy. During the meeting, Bernal, who had secured the pink jersey during the ninth stage of Giro 104, presented the Pope with both the coveted jersey and a custom Pinarello Dogma F12 bicycle as a gesture of gratitude. Given the Pope’s Catholic upbringing, his blessing of the gifts held significant symbolism. Thus, the bicycle became a unique piece in the world, embodying both its symbolic significance and distinctive design.

The custom Pinarello Dogma F12 is up for grabs complete with a Shimano Ultegra gearbox, Most Ultra Talon handlebar, Vision Wheels, and Pirelli P Zero tires.

The Pope’s decision to sell his custom ride sheds light on the challenges faced by sellers in today’s market. With demand fluctuating and competition fierce, even a bike with such a prestigious background encounters hurdles on its journey to find a new home.

One major obstacle has emerged: sellers are struggling to find the sweet spot in pricing. Many are asking just under what new bikes are going for, but with manufacturers offering huge discounts on new models, the market has become even more challenging.

Adding to the complexity, prospective buyers are comparing used bikes with current models available online. They weigh the benefits of a warranty and never-used parts against the allure of a unique piece with a storied history.

In such a landscape, there’s a tried-and-true method to getting products to move – slashing prices. Buyers need to feel they’re getting an unbeatable deal from you, one that no one else can compete with. Without this competitive edge, sellers are destined to sit with few hits and even fewer offers.

For more information on buying a used bicycle see this article.

The road ahead may be bumpy, but for those who can navigate the twists and turns, there are still opportunities to be found.