This comes amid a growing number of people experimenting with cycling as a Covid-safe form of transport and exercise.
Councillor Muhammad Ali, cabinet member for Sustainable Croydon, endorsed the scheme.
He said: “One of our key transport ambitions is to get even more people cycling and reduce congestion on our roads. This improves air quality, reduces our emissions and helps improve residents’ health.
“For anyone with growing children, recycling unused bikes back into the local community is a fantastic way to keep kids cycling without breaking the bank.”
The first pop-up market will be held on Saturday 14 August in Westow Park, with a second the following day in New Addington Community Centre.
Prospective sellers can drop their bike off at the market in the morning, where it will be assessed for any repairs that would reduce the sale price.
Croydon Council has already seen success with their previous investments in cycling.
The business running the second hand bike markets, Peddle My Wheels, was a recipient of the Croydon Enterprise Loan Fund, which enabled them to expand into a London-wide franchise.
Similarly, the council’s Try Before You Bike scheme was well received, which allows potential cyclists to rent a bike for a month without having to commit to a purchase.
Alper Muduroglu, founder of the bike shop said “We aim to run a socially, ethically, and environmentally responsible business – and to get as many people cycling as possible.
“The key characteristic is affordability – bikes are quite difficult to get rid of, you can’t take them to charity shops – so these markets allow for used bikes to be recycled.
“We want people who would have old bikes kicking around to bring them to us and we can service them and sell them on their behalf, ensuring they go to good use in the community”.