Auction for bike shop stock worth £500,000, including Shimano, Specialized, Trek, Cannondale and Campagnolo products

Bargain hunters have until Tuesday to pick through the remaining stock of major bike shop Life Cycles, worth £500,000, which has gone to auction after LC Leeds Bike Shop Ltd went into liquidation.

The auctions are being handled by Eddisons, more than 575 lots live at the time of writing and covering a range of products from new and used bikes to clothing, parts, accessories, nutrition, helmets, shoes and just about anything that was still hanging around when the firm ceased trading in February.

Last year, road bikes were sold for £110 and other accessories and parts available for huge discounts as the £35 million stock of distributor Moore Large, including 35,000 bicycles, went to auction after it entered liquidation.

> Forme bikes and cycling stock worth £35 million to be auctioned following Moore Large liquidation

This auction is not quite on the same scale, nearly 600 lots with a total value of half a million pounds, but plenty of bids have already come for the wide range of available products.

Numerous new Basso road bikes are available, bids currently between £300 and £800 for models that retail from £2,000 to £3,500. There are also "pre-loved" bikes, such as a Cannondale Synapse women's bike worth £600 new with a current top bid of £55, and a Specialized Allez not yet to have received a bid, the opening mark £50.

Numerous lots feature Shimano and Campagnolo parts, Ultegra cranksets worth up to £299.99 currently having a highest bid of £40. A pair of Campagnolo Super Record U-S 12x Ergo mechanical shifters, which RRP at £449.99, have a top bid of £110, while there is a SRAM Rival 46/36 11-SPD Crankset currently at £10, as well as hundreds of bundles including multiple components.

The prices will of course rise as the auctions near completion early next week, although there will almost certainly still be bargains to be had, saddles, wheels, shoes, helmets, clothing, stems, handlebars, seat posts, cleaning products, nutrition, hubs, glasses, mudguards... you get the idea, if Life Cycles was selling it, it's probably up for auction.

There is a pair of Wahoo Speedplay Comp pedals worth £134.99 with a current top bid of £22, and a Pinnacle HC Turbo Smart Trainer worth £599 currently at £42. For those happy to take your chances, you can also bid on boxes of assorted used parts, such as cassettes and cassette rings or pedals.

If you wish to view products, Eddisons' Scunthorpe auction centre will be open for visits on Monday 29 April from 10am to 4pm "strictly by appointment with the auctioneers". It's also worth noting that there is a buyer's premium of 15 per cent plus VAT and some lots may be subject to 20 per cent VAT.

As always with these mass stock auctions, there are a few things worth taking note of before you charge in, bank card in hand, ready to lay siege to cut-price bargains. Firstly, there are no refunds and Eddisons says collection of purchases will be "strictly by appointment with the auctioneers" on the May 2, 3 or 7 from its auction centre in Scunthorpe, North Lincolnshire. There are also late collection fees of £5 + VAT per lot per day or £10 + VAT per pallet space per day for lots not collected within the removal deadline.

With that said, while Eddisons says it does "not offer a dispatch service", it does offer "a packaging service, depending on our availability of packaging materials, for the buyer to book their own courier", with a local courier also able to "come to us and professionally pack your lot and they are well equipped to package and move items of high value and/or fragility".

In short, you can get your product shipped, with a bit of work, but it's probably best to contact Eddisons with any queries before bombarding them with bids only to have a logistical headache come Tuesday.

All the lots and products can be viewed here...