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I kept mine and transferred it to the new bike, like the one poster said if you trade in your bike they will cut it off, but if I sold my bike out right I would have left it on for the new owner.
Traditionally the bell has to be given to you. It is your bell from someone who cares for you. It is not the bike's bell, it is yours. Mine was a gift from my wife, and I would never leave it with the bike.
If you broke tradition and bought your own bell, then you can do what you want with it. Keep it, leave it with the bike, or as suggested, put it on the train track.
I first disconnect the positive battery cable....
Sometimes I forget that the bell is on a bike, and it goes to the next guy. If I trade it in, as has been mentioned before, the dealer might dispose of it. I had asked once before what to do with a bell that I found along a highway that must have fallen off a bike.....got no real help, so I hung it outside of my bike storage area.
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