Imagine selling your motorcycle by placing an ad in the local newspaper. Someone stops buy to look at it and then asks to take it for a test drive before deciding whether to purchase or not. What do you do? Most of us would agree to the test drive as long as the potential buyer left his car keys. Nevertheless, apparently such collateral is not always foolproof.
According to news reports out of Linden, New Jersey, a man selling his BMW motorcycle was the victim of theft when the potential buyer did not return from a test drive. And although the buyer had left his car keys as collateral, it turns out the car was also stolen. This was one case where the motorcycle owner truly was taken for a ride.
The stolen motorcycle was a 2012 BMW S1000 with an approximate value of $13,500. The sport bike features a 999 cc liquid-cooled engine with dual-stage fuel injection. The S1000 was first made popular after the racing version achieved very impressive results during the 2010 race season. Today the bike is still popular among thieves because of its high resale value on the black market.
As for the stolen vehicle used as collateral, news reports say it was a 2012 Ford Escape. That is little consolation to the motorcycle owner though. The car was impounded by the police and will eventually be returned to its rightful owner. The bike owner will have to work with his insurance company to cover the cost of his loss.
Tips for Selling Your Bike
Fortunately, stories like this one are relatively rare. Most people selling their motorcycles manage to complete the transaction without any issues. Having said that, there are things you can do to protect yourself against potential thieves. For example, you can request photo ID and a couple of verifiable references that you can call to check on the identity of buyers. You could also ride along.
Other tips include:
- Location: Do not disclose your home address in your advertisement. Also, meet the potential buyer in a public location rather than at your home. There have been times when thieves have come to a home to view a bike, then returned later to steal it.
- Consignment: While it might be hard to locate a dealer in your area willing to sell on consignment, such dealers do exist. Thieves are less likely to steal directly from a dealer because security measures are a bit stronger. However, beware: any consignment deal you agree to should be in writing.
- Fuel: Thieves like to work quickly and conspicuously. A good way to thwart a thief is to give him or her only a limited amount of fuel for a test drive. If they run out on the way to their destination then they are likely to abandon the bike along the side of the road.
One last thing to remember has to do with insurance. You should make sure your insurance policy covers test drives by potential buyers before you agree to allow it. Even if your bike is not stolen, your insurance may not provide coverage in the event your potential buyer has an accident.
There is no way to protect yourself completely against the possibility of theft. However, make stealing your bike as complicated as possible. That's the best way to persuade a thief to look elsewhere.
