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Minneapolis Police Auctions

About once a month, the Minneapolis Police Department auctions somewhere around 100 bikes.  I recorded the sale price of all 100 bikes auctioned this afternoon, and created the following histogram (click to enlarge) and descriptive statistics:

Sum = $6,590
Max = $550 (Bianchi Veloce, a rare find….)
Min = $5
Average = $67  ($62, not including the Bianchi, a statistical outlier)
Median = $50
Mode = $30

Nevermind my date error on the histogram, you perfectionists.  I transcend time (pardon my snarky joke, please!).

These are pretty affordable bikes!  All of them are “rideable,” although you should plan on anything you buy needing a full tune-up, so if you’re going to pay someone to do that, you’ll have to factor that into the cost.  Regardless of what you pay at the police auctions, I almost always feel like everyone gets a good deal.  If you’re looking for any old bicycle just to ride around town, the police auction is the pace to go – for sure.  Bikes that can easily be turned into something to be proud of are routinely selling for $30-$70.  Generally, if you’re looking for a bike in good condition that you can ride off the lot, you should plan on paying about $200.

Note: The sample size is 98, rather than 100, because I missed one sale price (hey, it was loud in there, ok? gimme a break!) and because one of the auction items was a non-bicycle (it was a razor scooter that sold for $7).

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