Carlotz expands consignment concept to motorcycles.
CarLotz, the Richmond-based used vehicle consignment business serving the sale-by-owner and corporate vehicle market, announced the grand opening Monday of its motorcycle consignment and retail business.
The Bike Shop by CarLotz is a used motorcycle consignment store located adjacent to the company’s flagship used car store on Midlothian Turnpike in Midlothian.
“Many of our car and truck customers are also motorcycle owners and have told us how difficult it is to sell a used bike given the limited information available to help with pricing, the time and hassle required to market the bike and the distaste many consumers have for negotiating with strangers. Launching The Bike Shop will allow us to better meet the unique needs of the motorcycle customer … “Michael Bor, CarLotz CEO, said in a statement.
The company started consigning and selling motorcycles about a year ago, he added. When the retail space next to its flagship CarLotz store on Midlothian Turnpike became available, it decided to create a boutique experience for buyers and sellers of sale-by-owner motorcycles.
The shop at 11944 Midlothian Turnpike in Chesterfield County creates an indoor showroom for up to 45 motorcycles with additional expansion space available. The Bike Shop by CarLotz already has already assisted buyers and sellers of Harley-Davidson, Yamaha, Honda, Suzuki, BMW and other bikes with transactions in the private sale market.
“It gives us great pleasure to expand our consignment model to other segments of the vehicle market. We started with cars and trucks, then moved into commercial and corporate fleet vehicles and now motorcycles. It’s a natural expansion for us into a market that gains tremendous value from a service like ours,” said Bor.
CarLotz will likely expand The Bike Shop concept to its other markets as it finds expansion capacity in those cities.