Ebay-style website Going Going Bike is now live, allowing anyone with a PayPal account to list bikes and bike accessories.
While there are no listing or buying fees, sellers are charged five per cent of the final sale charge if their item is sold. Options include Buy Now, Auction and Lot Auction, and customers can search using Bike Match for a quick solution or a specialist search for that dream bike.
In terms of anti-theft measures, there's a padlock icon system for bikes that have frame numbers and are registered on Bike Revolution. A magazine section also provides events listings, blogs and more.
Research from Going Going Bike suggests there are plenty of spare rides out there that are ready for auction. In fact, there are more than 13 million unused bikes in Britain. That's an estimated sale value of nearly one billion pounds. Apparently, 33 per cent of households have at least one spare bike.
Going Going Bike was founded by bike nuts James Johnson and Andrew Nethercot.
“Only 15 per cent of people currently sell their old bikes; we want to give second-hand bikes and their owners a better deal and make it simpler for people to sell," Johnson says. "GoingGoingBike offers a safe place to sell or buy bikes with the unique Prove It scheme. It's also a place to make your views on cycling issues heard.”