AUSTIN (KXAN) — If you prefer to get around on two wheels, you can check out the University of Texas Summer Bike Auction – now in its 10th year. There are 180 bikes up for sale on the fifth floor of the Trinity Garage located at the corner of Martin Luther King Jr. Boulevard and Trinity Street on campus, and the bids are all starting at just $5.

“All of these bikes are really great to be a part of your new rebuild … or just for extra parts every now and then,” said Jeremy Hernandez, with the UT Parking and Transportation Services.

Hernandez says the number of bikes available this year are just under the amount they had last year. However, he points out that people will still be getting great deals at Wednesday evening’s auction.

“You’re going to get a great deal on a bike here, whether it’s a high-end bike … or medium- to low-range,” he said.

Hernandez recommended taking your new auction buy to local bike shops to get it checked out after your purchase.  All of the bikes were abandoned on campus and are held for 90 days before being consider forfeited, there are bikes ranging from cruisers to BMX to mountain bikes.

Money raised from the auction is put toward developing the bike infrastructure around campus. For those that will not be able to attend Wednesday night, another auction is being planned for the fall.

The auction begins at 5:30 p.m. on Wednesday, but you can start checking out the selection at 5 p.m. While bids start at $5, Hernandez says the average sits somewhere around $20-$25. The highest bid he has seen was $500, but he points out that at that price, it was still a steal for a Cannondale. Hernandez mentioned that Cannondale Synapse bikes can be priced at $1,200, so he said that people get the bike for 50 percent off — or more — at UT’s bike auction. The event accepts all forms of payment, except American Express.

If you are a student, faculty or staff at the University of Texas, officials recommend you register your bike with the University.