Told to sell bicycle (5)
I believe the answer is:
pedal
'bicycle' is the definition.
('pedal' can be a synonym of 'bicycle')
'told to sell' is the wordplay.
'told' shows a homophone (sound like).
'to sell' becomes 'peddle' (peddling is a kind of selling).
'peddle' is a homophone of 'PEDAL'.
(Other definitions for pedal that I've seen before include "Foot-operated lever" , "part of organ" , "work with press from Oxford?" , "related to feet" , "Power a bike" .)