Your Estate and What Happens to Your Motorcycle Stuff

In the spring, a guy I knew for over 20 years passed away. His death reminded me of an important lesson I want to pass on to you. This is a lesson about your motorcycle stuff.

Specifically, if you have more than one motorcycle and if you have motorcycle parts and riding gear. It is even more important if you have vintage motorcycles as well.

In order to respect the family privacy, I have changed some of the specifics as they relate to this individual. The estate of the guy that passed on contained three motorcycles, in addition to the street bike he had ridden on the road before taking ill. One of the bikes was a vintage motorcycle and the other two were racing motorcycles. Additionally, there were some new spare parts, some used race parts and a spare engine.

Unless the remaining family members are into motorcycles, they are likely going to want to get rid of the motorcycles and parts. Even if they want to keep one of the bikes, they will most likely want to get rid of the motorcycle parts and riding gear. In my example, my friend’s family didn’t want the bikes and parts around. They were a reminder of the deceased.

The problem for the family starts with “what the hell is there?”.

Second question that comes up is “what is all that stuff worth?”

And sooner than later “how do I sell that stuff”.

Some suggestions for you to make the process easier for your family/estate follow in point form:

1. Keep the ownership(s) for your bike(s) where it/they can be found easily. Make sure your family knows where they are.

2. Label your spare parts and projects. Go out to your garage/shop/shed and put a simple label from the dollar store on all your stuff. Clearly identify what it is for. Don’t assume that someone will know that the seat on the shelf is the spare for your bike. If it is something valuable, put the value on the label.

3. If you want some of your stuff to go to someone, write it down. Tell someone who will convey your direction to your family. Do you really want your just worn in leather jacket to be donated to Value Village or the friend who has admired it? Did you promise “if I ever want to sell it, it goes to ___?”. If so, make sure your family/estate knows what is to go to whom.

4. Ask a trusted friend/relative to take on helping the estate with your motorcycle stuff. Tell your family who that person is and that they can be trusted to dispose of your stuff. While your brother-in-law is experienced with legal paperwork and can be your Executor, he may be the worst person to handle your motorcycle stuff.

5. Estate Auctions are terrible places to handle motorcycle stuff (ok to avoid being sued, some may be ok!). I have been to a number over the years and only one was done well. Let me give you an example. I went to an estate auction that had five motorcycles listed in the advertisement. The five bikes were apart but everything was there to build 5 motorcycles. The auction outfit had set up bidding cards, a small canteen selling food and drinks and a nice podium for the Auctioneer to stand on. However, the auction team had placed frames in one pile or lot. Separate piles were set up for motors, exhaust pipes and bodywork. Lot number one sold to a buyer who didn’t want the rest of the stuff. Without the frames in pile 1, what was left could no longer be built into motorcycles. Those piles/lots went for a small fraction of the value of the five motorcycles. The Auctioneer couldn’t figure out why the lots didn’t bring more money. He kept the profit from the food/drink sales and his 25% of the money raised. In my opinion, leaving the sale of stuff to an Auction house is likely the worst way to sell the stuff the estate doesn’t want to keep.

6. Beware of the notoriously cheap. Unfortunately, at least a few of your acquaintances will try “lowball” offers on your stuff. They will hope you have no idea what some of the stuff is worth. Another example; a good friend was tasked with selling off an estate of parts from his friend and business competitor. My friend Rick knew that a certain Mr A had offered to buy an engine from the deceased for a fair amount before the owner died. Mr A showed up at the estate sale and offered a small fraction of that amount. Rick made sure the estate did not accept Mr A’s offer. Sadly, the likelihood is that at least one of your acquaintances will disrespect your memory this way.

7. Be realistic. A friend of mine went to see a machine that was for sale from an estate. The deceased had told his widow that his machine was worth $14,000.00. He had seen that a pristine version of his machine had sold at a Bonham’s Auction in the US for this amount. However, his machine was neither pristine nor even close. The widow wouldn’t budge from the 14K amount even when shown that her machine was worth about a third of this. As far as we know the machine is still rusting away in the damp shed it was in when the owner passed. Is your value for your stuff realistic? Your estate won’t be able to move the stuff to new owners if you tell them top dollar on everything is expected.

Disposing of a lifelong collection of your stuff shouldn’t be a burden on your family. Plan to give a lot of stuff away to your friends as a way of their remembering you. Trust me that they will appreciate that you remembered them enough to leave them something.