Treadmill sales touched an all-time high in 2020 as people across the globe looked for ways to stay fit and healthy amid the Covid-19 pandemic.
But now that restrictions are easing in many countries and gyms are reopening, a lot of those folks who bought these hefty machines are getting second thoughts about whether they really need them.
If you're one of those people who are now considering selling your treadmill, then you are at the right place.
I'll show you how to get the best price for your machine and make sure that the entire process is hiccup-free.
How to Sell Used Treadmills
The good news is that there's a huge market for used treadmills. People are always looking for a good deal on fitness equipment, and if you price your workout machine for home use correctly, you're sure to find a buyer quickly.
There are a plethora of options both online and offline to sell your treadmill. Each one has its own share of pros and cons, and it's important to choose the one that's best for you.
Can You Get a Good Price from Selling a Used Treadmill?
Well, it depends.
If your machine is in good condition and you're selling it to an individual, then you can expect to get around 50-70% of the original purchase price.
However, if you're selling it to a used gym equipment dealer, then you can expect to get around 30-40% of the original purchase price.
It's also important to keep in mind that the better condition your machine is in, the higher the price you can charge. A lot of the treadmills on sale in the market currently are fairly new because people have only recently started working out at home en masse.
This means that if your machine is a few years old but still in good condition, you can still command a good price for it.
What Price to Ask for Your Treadmill
That's a common conundrum people face when selling their stuff - whether to go for a low price and sell it quickly or ask for more and risk the item not selling at all.
Here's a rule of thumb that you can follow:
If you're selling it to an individual, price it at around 50-70% of the original purchase price.
And if you're selling it to a used gym equipment dealer, then price it at around 30-40% of the original purchase price.
Of course, this is just a range and you can always adjust the price up or down depending on several factors like these.
Factors to Consider to Decide The Price of Used Treadmill
The Age of The Machine
Treadmill tech has come a long way in the past few years. If your machine is a few years old, then it's likely that there are better and more feature-packed options available in the market.
This means that you'll have to adjust your asking price accordingly.
The Condition of The Treadmill
Depending on how frequently you've used the treadmill and how well you've maintained it, the condition of your machine will vary.
If it's in pristine condition, with a smooth running deck, cushioning that's still in good shape, and all the electronics working perfectly, then you can charge a higher price.
On the other hand, if it's showing signs of wear and tear, then you'll have to adjust your asking price accordingly.
The Brand and Model of The Treadmill
Some brands and models hold their value better than others. If you have a high-end machine from a well-known brand such as NordicTrack T Series, then you can expect a higher price.
On the other hand, if you have a lower-end machine from an unknown brand, then it may be tough to sell it at a good price.
The Features of The Treadmill
Treadmills in budget also come with a whole host of features these days - from heart rate monitors to touchscreens to built-in speakers.
You need to pay the higher price, if you want more features in your treadmill.
The Location Where You're Selling the Treadmill
If you live in a big city, then you're likely to find more buyers than if you live in a small town. This means that you can price your machine slightly higher if you live in a big city.
This is subjective of course and does not hold water for online sales.
Steps to Take to Get the Best Price for A Used Treadmill
Now that you know how to price your machine, let's take a look at some of the steps you can take to get the best price for your used treadmill.
Get the Machine Serviced
If your machine is a few years old, then it's a good idea to get it serviced before you sell it. This will ensure that all the parts are restored to good working condition.
A service will also add to the longevity of the machine, which is something potential buyers will be looking for.
**Tip: Hire a professional from local treadmill repair & service centre.
Add All Relevant Details
If you are listing the treadmill online, make sure to add all relevant details about the machine. This includes the model, brand, features, date of purchase, and condition of the treadmill.
The more detailed the listing, the more eyeballs and enquiries it will attract.
Pictures & Videos
Talking about details, don't forget to add high quality pictures of the machine as well. This will give potential buyers a good idea of what they're getting and whether it's worth the price.
Good quality pictures can do wonders for the listing and help you sell the machine quickly. If possible, shoot a short video too and add it to the listing.
Create a Sense of Urgency
When creating your listing, make sure to create a sense of urgency. This will prompt potential buyers to act quickly and make a decision.
One way to do this is to mention that the first person to make an offer gets the machine. This will prompt people to act fast and make a decision. You can also add deadline to your sale and catchy titles to attract potential buyers.
Provide Warranty Information
Most treadmills offer a warranty of at least five to ten years on the frame, and up to two years for the electronic components. Some brands even offer a lifetime warranty on the frame.
This is valuable information that potential buyers will be interested in, so make sure to include it in the listing.
Selling Treadmill Online or Offline: Which Is Better?
One of the first decisions you need to make when selling your treadmill is whether you want to sell it online or offline.
There are pros and cons to both options.
Pros and Cons of Selling Online
The online marketplace for used exercise equipment is growing by the day. There are a number of websites and apps that allow you to list your used treadmill for sale.
Here are some of the pros and cons of listing your treadmill online.
- Wider reach: When you list your machine online, it will be seen by a larger number of people. This gives you a better chance of finding a buyer quickly.
- Convenient: Listing your machine online is very easy and can be done in a matter of minutes.
- Free: Most of the websites and apps that allow you to list your used treadmill for sale are free.
- Shipping: If you live far away from the buyer, then you will need to ship the machine. This can be expensive and inconvenient.
- Less personal: Selling online is less personal than selling offline. This means you will not be able to build a relationship with the buyer.
- Scams: Last but not the least, there is always the risk of being scammed when selling online. This is why it's important to be careful and only deal with reputable websites and buyers. Some websites use an escrow service to protect both buyers and sellers from fraud.
Pros and Cons of Selling Offline
If you're not comfortable with the idea of selling your treadmill online, then you can always sell it offline. This is the traditional way of selling used exercise equipment and has its own set of pros and cons.
- Can negotiate price: When selling offline, you can negotiate the price with the buyer. This is because, it will be a one-on-one transaction.
- Builds relationships: Selling offline is more personal than selling online. This means you can build a relationship with the buyer, which can be beneficial in the future.
- Allows you to sell to used equipment vendors: There are a number of used exercise equipment vendors who are always on the lookout for good quality machines. Selling your treadmill to one of these vendors is a quick and easy way to get rid of it.
- You can also reach out to local gyms and clubs.
- Less reach: The number of people you can reach is limited to your local area when selling offline. This means it will take longer to find a buyer.
- Have to meet in person: You may need to meet the buyer in person to sell the machine. This can be inconvenient if you live far away from the buyer, or if you are not too comfortable with the idea of strangers coming home.
Top 5 Sites for Selling Used Treadmills
It took me close to 6-months to sell my treadmill. But the amount of information that I gained in the process was invaluable.
Here are some of the best websites for selling used exercise equipment, including treadmills.
eBay continues to be one of the most popular places to sell used exercise equipment. The website is easy to use and has a wide reach. You can list your machine for free and there are no listing or final value fees.
However, you will need to pay a small percentage of the sale price if you use PayPal to receive payment from the buyer.
The downside of selling on eBay is that you will need to ship the machine if the buyer lives far away. This can be expensive and time-consuming. But it shouldn’t be a problem as far as you include this information in the listing and add the shipping cost up front.
Facebook Marketplace is a great option if you're looking to sell your treadmill. You can create a listing for your item and set your own price.
Be sure to include some good photos of the treadmill and a detailed description. You can also promote your listing by sharing it with your friends and family.
That said, Facebook marketplace has become a magnet for spammers and scammers. So, it's very likely that you'll get some low-ball offers or requests for your personal information. Be sure to deal with people you trust and be cautious when sharing any personal information.
Craigslist is another option for selling your treadmill. You can create a listing and set your own price.
As with Facebook marketplace, you'll need to be careful when dealing with people on Craigslist. There have been many reports of people being scammed on the site. So, be sure to deal with people you trust and take precautions when meeting up with buyers.
Pawnguru is a website that allows you to sell items to pawn shops. It's a great option if you're looking to get rid of your treadmill quickly.
Pawn shops get an unfair reputation but they're actually a great place to do business. They're regulated by the government and are required to give you a fair price for your item.
To use Pawnguru, simply enter your item's information and you'll get a list of pawn shops in your area that are interested in buying your treadmill. Then, you can choose the shop you want to sell to and schedule a time to drop off your item.
Pawnguru charges you 12% of the final sale price, but they do all the work for you. So, it's a good option if you're looking for a hassle-free way to sell.
Offerup is a website and app that allows you to buy and sell items. It's similar to Craigslist but is much easier to use. You can create a listing for your treadmill by taking a few pictures and writing a description. Then, you can set a price and wait for someone to buy it.
If you're not familiar with Offerup, here's a video tutorial that can help you get started.
FAQs on How to Sell Treadmills
Here are a few more questions you might have.
Q. How Much Does a Used Treadmill Sell For?
A. That depends on the make, model, and condition of the machine. A good rule of thumb is to expect to get about 50% of the original retail price if the machine is in reasonably good condition.
Q. Do Pawn Shops Buy Treadmills?
A. Yes they do. But rather than limiting yourself to the pawn shops in your city or vicinity, a service like pawnguru.com allows you to get the best offers from multiple pawn shops all at once.
Q. Where Can I Sell My Broken Treadmill?
A. Many used gym equipment vendors as well as pawn shops will accept broken treadmills. You can also try listing it on Craigslist or Facebook marketplace.
Q. Can You Sell a Treadmill for Scrap Metal?
A. Yes you can. Treadmills have many metallic components including the frame, belt, and motor. But before you decide to scrap it, check with a local scrap metal dealer to see if they're interested in buying it. Your local scrap yard is often a good place to start.