I love this site, even though I’ve never bought anything through it. It’s a great way to see what bikes are worth in the real world.
Some of the auctions are for single bikes but the majority are for groups of bikes. Unfortunately, they won’t ship groups of bikes so your only option is to pick them up in person at the auction location. That means if you don’t live near the location it isn’t worth bidding on.
Several times I’ve calculated the cost of going down to their LA location and getting a load but the cost of gas alone makes the venture impractical. But, if you do live near the auction spot, it’s a great way to get some cheap bike inventory.
One thing to watch for is what’s in a lot. They wisely don’t group the bikes by type so each lot may contain any combination of road, mountain, cruiser, bmx and kids bikes. So if there’s one bike type you want you’ll have to buy the rest to get it. This favors buyers with a regular outlet like a shop or flea market.
Another thing to consider is time of year. I started watching this site last Fall and saw lots of good bargains. However, by early Spring the bargains were much harder to come by. Now, as Summer progresses I’ve noticed a dip in prices.
Check out Property Room for yourself.