Life Cycles Leeds auction: High-end bike auction attracts over 650 bidders after collapse of company

Among the items auctioned off after the collapse of Leeds Bike Shop Ltd, which ran Life Cycles on Stanningley Road in Leeds, were Italian racing cycles that retailed for up to £3,500, carbon fibre frames and other parts and clothing items.

The firm ceased trading at the beginning of February, with the restructuring and insolvency team Quantuma instructing auctioneers Eddisons to handle the stock.

The auction, which saw 575 lots, concluded on Tuesday (April 30), to a very positive turnout with more than 650 bidders from the UK as well as countries including Ireland, the Netherlands, Germany and the United Arab Emirates.

Eddisons auctioneer Paul Cooper, who ran the auction at the Scunthorpe Auction Centre, told the Yorkshire Evening Post: “It was a tremendous success in terms of exposure and competitiveness with over 650 bidders.

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“We have five carbon fibre bikes that made in excess of £1,000, with the top seller making £1,700 under the hammer.”

The thirty bikes that went under the hammer on Tuesday included a number of handmade Italian Basso road racing bikes that in stores carry prices ranging from £2,049, with some models, such as the Basso Astra Ultegra, that has a recommended retail price of £3,499.

It also included a large stock of parts and accessories including saddles, handlebars, wheels, tyres, cranks and much more.

Paul added: “When you saw some of the small bits of bike and the prices that people are willing to pay for them. It was a very successful sale.

“The challenge that we’ve got now is that we got 575 lots we have to get out of the door, that takes a lot of doing as well!”