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  1. #1
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    Lessons learned while flipping

    It seems that people are more lured into buying complete bikes than parted out frames or incomplete projects regardless of condition or mechanics. I have learned that parting out bikes is not very profitable. I've lost money doing it but always felt happy to provide a good recycled component for less than a bike store would charge for new junk.

    I've learned that doing work on a bike to flip is probably a waste of time. Yes...I want to do goodwill and provide good transportation/recreational riding for somebody but all the work after cables/bottom brackets doesn't turn a very good profit. Even adding 10$ drug store gumwall tires to an old bike cuts into the profit. It all adds up...That 25$ cartridge bottom bracket/25$ drug store tires/tubes/cables etc...I'm happy to flip a project for a profit rather than do the work. Its more profitable. Less time, more money.

    Maybe its just beer money...but its still a nice profit.

    I have learned that is best to take an absurdly good deal on a bike and flip it for an absurdly good deal. I think Kharma pays off. For instance I bought a Schwinn Le Tour at a garage sale for 5$. It was a basket case and needed lots of work. Instead of posting the usual 100-175$ craigslist junk ad I sold it for 40$ outright.

    The buyer was very nice so I also threw in a spare set of Araya wheels. Two weeks later I found a junky old Schwinn step through bike at the dump/recycle center. The sticker price was 15$. I thought that was steep for a dumpster bike but guess what...It had a Cyclo Touriste crank in mint condition. I sold the cranks for 250$ to a nice guy. It just happened that I had a NOS pair of Mafac Cantilever brakes in my car to sell the guy who bought my TA cranks.

    I paid 50$ for the Mafacs and sold them for 50$. I think the bottom line is too keep buying parts/bikes/frames etc... and sell them for modest humble profits instead of trying to get upper market value. If the trend of flipping bikes increases we will continue to see more people competing to get middle of the road junk and give the market of bikes more value.

    Don't get me wrong. I like gas pipe Peugeots. But I don't think they are worth 150-250$. We ought to think of flipping bikes as community service without committing a crime to do the labor. Lets have some fun, make some money and get people exercising on the road.

  2. #2
    surly old man jgedwa's Avatar
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    In the end, I do not completely disagree. But, I do have a different way of approaching it:

    I consider my competition to be the crappy Xmart bikes. So, if I can put a bike in decent condition up for sale for $100 to $150, I figure I can attract a few customers who might otherwise buy a Next. And while the bikes I sell are old, and usually well-used, and usually not all that special, at least there is a good chance that the ones I sell will still be rideable after a few years of abuse. I am not doing this as a community service, but it does strike me that it does have the effect of steering a few people away from the garbage they would get in that price range without the services of the noble flipper.

    No reason to fawn over me; I will wash my sorrows in the easy profit that I stumble on.

    jim
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  3. #3
    Senior Member miamijim's Avatar
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    I disagree.

    It all depends on what you start with. I've made a considerable amount of money flipping, parting out and doing the quick turn over thing. What you need to be able to do is identify whats best for each bike and realize its best to walk away from some bikes.

    For instance, I bought a folding bike at the fleamarket for $25 because of it wheels. I had the bike, without wheels, sold before I left the flea market for $20!! The wheels were sold 'Buy Now' on ebay for $125.

    I profit the most on bikes I part out but you cant part out every bike. You have to know whats desireable and whats not. Dont get me wrong wrong, I've lost money on a few bikes, thats part of the game, but my spreadsheet tells me I'm deep into the black and my garage tell me there're 6 high bikes that are paid in full.
    WWW.CYCLESPEUGEOT.COM 2005 Pinarello Dogma; 1991 Paramount PDG 70 Mtb; 1976? AD Vent Noir; 1989 LeMond Maillot Juane F&F; 1993? Basso GAP F&F; 1989 Terry Symmetry; 2003 Trek 4700 Mtb; 1983 Vitus 979

  4. #4
    N+1 redxj's Avatar
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    I disagree as well. If you are not making money at parting a bike out you are doing something very wrong. Either buying a bike for way too much or not selling the parts for enough. I just took a glance at my records and I have flipped 109 complete bikes or frames/forks in the past few years. Forty Nine of those were sold as frame/fork and were parted out. Of those 49 I made profit by just stripping the parts off it and selling frame/fork/headset on 43 of those. The 6 I didn't profit from just selling the frame/fork were more expensive bikes I picked up ($300+ purchase price), but completely parted out each one profited over $400 each.

    In my total flipping business, profit from just selling parts is double what I have made from complete bikes/framesets together. Those numbers are slightly skewed though since I assign the original purchase price to the frame/fork if it is parted out and don't put a value of cost on any used parts that come from it.

    And, just one note on buying bikes for flippers. BE MORE SELECTIVE IN YOUR BUYING!!! In the beginning I was buying almost anything half way decent that was under $50. Now, I even pass up $5/10 bikes on occasion. My standard requirements are: road bike, straight frame/fork, 3 piece crankset, and an alloy wheelset. I have broken all of those rules on some bikes, but generally stick to them. I always keep in mind the general parted out value I could get on a bike as a last resort. Often my parting out of a bike happens because I don't have time or desire to build it up complete.

  5. #5
    Senior Member randyjawa's Avatar
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    Can't believe it...

    Though it strikes me as odd and after flipping(never heard that term before) nearly 450 vintage road bicycles or frame set, I generally get more money for a frame and fork set than I do for a complete bicycle. I have thought about this and it occurs to me that lots of vintage road bike people want to exercise their own creativity. Fine with me but there are times when I hate taking a vintage piece apart. That was the case with a recently acquired Raleigh 'International". The frame set sold for over $400 US and I still have all of the components. I must admit that I did offer to throw in the bars, stem and Weinmann brake set.

  6. #6
    Building a better Strida
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    here is a question: how do you flip a bike to the same customer looking at a shiny, new, 30-day-money-back, NEXT x-mart cycle.
    Don't these ppl look for different things? one is for a quality bike of certain historic character, and the other is for something cheaper and new?

  7. #7
    You gonna eat that? Doohickie's Avatar
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    I haven't made a dime flipping a bike. At least not yet.

    And I will start out in the hole because my first flip bike I'm giving away for free to a friend of my wife's.
    I stop for people / whose right of way I honor / but not for no one.



    Originally Posted by bragi "However, it's never a good idea to overgeneralize."

  8. #8
    Senior Member miamijim's Avatar
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    Quote Originally Posted by trueno92 View Post
    here is a question: how do you flip a bike to the same customer looking at a shiny, new, 30-day-money-back, NEXT x-mart cycle.
    Don't these ppl look for different things? one is for a quality bike of certain historic character, and the other is for something cheaper and new?
    You dont. People buying flip bikes more or less know what they're looking for and yes, people look for different things. I just sold a 1981 Miyata 310 mixte for my full asking price, the buyer was looking for vintage.....something with a little class ans style.


    Quote Originally Posted by Doohickie View Post
    I haven't made a dime flipping a bike. At least not yet.

    And I will start out in the hole because my first flip bike I'm giving away for free to a friend of my wife's.
    We all start out in the hole. Sometimes your ahead sometimes your not. I keep track of everything on a somewhat complex spreadsheet. Every 3 or 4 months I start a new one to keep things in recent perspective. I'd like to know if i'm up or down in the last few months not in the last year.
    WWW.CYCLESPEUGEOT.COM 2005 Pinarello Dogma; 1991 Paramount PDG 70 Mtb; 1976? AD Vent Noir; 1989 LeMond Maillot Juane F&F; 1993? Basso GAP F&F; 1989 Terry Symmetry; 2003 Trek 4700 Mtb; 1983 Vitus 979

  9. #9
    Dolce far niente bigbossman's Avatar
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    Quote Originally Posted by miamijim View Post
    I disagree.
    +1

    If you're not making money overhauling and flipping bikes in the SF Bay area, you're doing it wrong.
    "Love is not the dying moan of a distant violin, itís the triumphant twang of a bedspring."

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  10. #10
    surly old man jgedwa's Avatar
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    True, many people want shiny and new, and will just look at an older bike and its patina as junk. Perhaps most people will. But, evidently there are enough people out there that recognize that Wallyworld bikes are crap. I have no trouble at all selling solid but cheap 3spds, road bikes, and MTBs. And given what I am selling, almost none of the people I am selling do are knowledgeable at all about bikes. They just want a basic bike that will be reliable. I suppose there are few thrown in there who like the retro-cool of the bikes as well.

    jim

    Quote Originally Posted by trueno92 View Post
    here is a question: how do you flip a bike to the same customer looking at a shiny, new, 30-day-money-back, NEXT x-mart cycle.
    Don't these ppl look for different things? one is for a quality bike of certain historic character, and the other is for something cheaper and new?
    Cross Check Nexus7, IRO Mark V, Trek 620 Nexus7, Karate Monkey half fat, IRO Model 19 fixed, Amp Research B3, Surly 1x1 half fat fixed, and more...
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  11. #11
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    I am doing pretty good at flipping because I have gotten a lot more critical and knowlageble about what to buy and what to pass on. In large part due to hanging around here.
    I have also gotten a little lucky recently to be the first to spy a deal on CL where the seller either didn't know the value of what he was selling or just wanted it gone.

    I think I have done my last re-paint last week. I got a early 90's Miyata Sport something for $15. It needed painting really badly. I took the time and did a nice job. It sold within hours for asking price but that's WAY too much work.

    I also think I might put a little too much time in making something look better than it needs to but I can't help it. At least people usually buy what I am selling unless it was completely the wrong size.

  12. #12
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    Quote Originally Posted by Doohickie View Post
    I haven't made a dime flipping a bike. At least not yet.

    And I will start out in the hole because my first flip bike I'm giving away for free to a friend of my wife's.
    Well that goes against the laws of flipping. If you're giving it away you're not flipping, you're giving presents. I hope it was her birthday, because I don't see any reason to give a bike away for nothing, to anyone, and swallow cost, unless its a person you want to do something particularly special for.

    Don't let folks expect too much of you because you're the guy who works on bikes. Even if you don't make a profit, at least have them cover cost so you're not in the hole. Your work finding the bike and rebuilding it is a huge gift already.

  13. #13
    Senior Member cyclotoine's Avatar
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    Quote Originally Posted by krems81 View Post
    Well that goes against the laws of flipping. If you're giving it away you're not flipping, you're giving presents. I hope it was her birthday, because I don't see any reason to give a bike away for nothing, to anyone, and swallow cost, unless its a person you want to do something particularly special for.

    Don't let folks expect too much of you because you're the guy who works on bikes. Even if you don't make a profit, at least have them cover cost so you're not in the hole. Your work finding the bike and rebuilding it is a huge gift already.
    thank-you!
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  14. #14
    You gonna eat that? Doohickie's Avatar
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    Quote Originally Posted by krems81 View Post
    Well that goes against the laws of flipping. If you're giving it away you're not flipping, you're giving presents. I hope it was her birthday, because I don't see any reason to give a bike away for nothing, to anyone, and swallow cost, unless its a person you want to do something particularly special for.

    Don't let folks expect too much of you because you're the guy who works on bikes. Even if you don't make a profit, at least have them cover cost so you're not in the hole. Your work finding the bike and rebuilding it is a huge gift already.
    Um, yeah, that's the point in this case. My wife's friend is divorced. Her ex will buy nice bikes for the kids but she has nothing to ride with them. I have a late 90s Schwinn Sprint that I'm turning into a townie for her. So far I'm in for tires and tire liners (hopefully she can avoid flats; I wouldn't normally put those in a flipper), handlebars off a parts bike, and a set of $5 cables.

    I'm using the bike as an opportunity to learn. I've worked on my own bikes in the past, but this is the first one I'm doing for someone else. I figure any money I put into it is part of my education.
    I stop for people / whose right of way I honor / but not for no one.



    Originally Posted by bragi "However, it's never a good idea to overgeneralize."

  15. #15
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    I feel that flipping bikes is an art. It takes a certain type of person. It's literally a part time job. I spend literally all of my free time, scanning CL, calling garage sales and e-mailing them. I have made a pretty good profit on the 12 or so bikes I have flipped. I make sure to always add new bar tape and clean the bike with WD-40 and steel wool as much as possible. I am a neat freak and usually work on a decent flipper for a combined total of 5 or 6 hours, at least. I like to actually give the buyer something nice looking and functioning. I do not like disappointing people. I also have a pretty good sense for peoples emotions. If I feel they are going to back out on the bike, I will hint to something for them to purchase. I love the art of flipping. I seriously cannot get enough of it!

  16. #16
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    Quote Originally Posted by Doohickie View Post
    Um, yeah, that's the point in this case. My wife's friend is divorced. Her ex will buy nice bikes for the kids but she has nothing to ride with them. I have a late 90s Schwinn Sprint that I'm turning into a townie for her. So far I'm in for tires and tire liners (hopefully she can avoid flats; I wouldn't normally put those in a flipper), handlebars off a parts bike, and a set of $5 cables.

    I'm using the bike as an opportunity to learn. I've worked on my own bikes in the past, but this is the first one I'm doing for someone else. I figure any money I put into it is part of my education.
    Well if you're educating yourself there's no price on that. Sounds like someone you wanted to do something nice for. But you haven't started flipping yet.

    Don't take too long. Tis the season. BTW, if you know anyone in Chicago I have way too many bikes for my own good. My flips are all complete custom rebuilds, usually with new wheels (sometimes handbuilt), sometimes with fresh powder coat. Send folks my way if they're looking for something along those lines.
    Last edited by krems81; 05-23-09 at 03:55 AM.

  17. #17
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    I specialize in '80's Japanese bikes. This way my parts box is my treasure box--almost always with just the parts I need.

    Sure, higher end bikes provide a greater return--but they are slower to sell and more rare. In contrast to the run of the mill flip bikes I sell, which are uniformly in better operating condition than when new, often with a higher end bike I don't do a thing, but rather sell it as 'pristine'. The reasons for this are many, but a prime one is that once started in on making it right, it's hard to find a stopping place. This results in way more hours and expense than can be justified.

    For most of the bikes I flip:
    --adjusting the hubs and BB provides 98% of the functional improvement as rebuilding them. This is a great time saver. If they don't respond, so be it and in I dive.
    --I make my own 'Joy Juice' : 50/50 mineral spirits and motor oil. One step lubricant and corrosion solvent is cheap and works amazing. WD40 is better at ONLY one thing--cleaning painted surfaces.
    --Joy Juice down into the cable casings works 90% of the time. This saves the nickles and dimes from new cables
    --I break the chains and leave the pin still inserted into the outer cage. Then soak the grubby old chain in 50/50/mineral spirits and motor oil. Then re-assemble. This assumes legit low chain wear. Why toss a good chain? sic.
    --I concentrate on 'brand names'. Here in the Southeast it's Schwinn and Trek. Only the fixies know about Univega, Nishiki etc.
    --Cleaning the spokes and rims with steel wool and either/both WD 40 / alcohol is the most unpleasant part of the job.
    --Always free up the seat post and stem.
    --Rudimentary wheel truing is almost always required, most often right on the bike, not on the truing stand.
    --Joy Juice frees up freewheel bearing and mechanisms better than 98% of the time, no need to soak. Just squirt it in and spin a few times.
    --Anything but a gentle solvent like Clean Streak will dissolve the 'gold' from freewheels, a bad thing. Gentle solvents like Clean Streak, however, are more expensive than Carb or Brake Parts Cleaner--so it's a judgement call as to whether the gold anodizing is worth preserving.

    I don't keep spreadsheets. But it doesn't take VBA macro's to run the numbers: all of our bikes, plus my tools, parts and cycling gear plus a few dinners out with my wife are the fruits of flipping. Pretty nice hobby, all told.

    --
    Last edited by mrmw; 05-23-09 at 04:46 AM.

  18. #18
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    I enjoy the searching out for bikes to flip. I really like talking with the people I meet when buying and selling bikes. And the mechanicing is probably the most enjoyable. Any money I make from the flip is my bonus.

    What I've found is bikes in the $100-150 are the bread and butter. List them on CL and theyre gone in a day, sometimes 10 minutes. The bikes I invest alot of parts into and have to sell for $200+ require some patience. And sometimes my profit is less on these bikes, but the build satisfaction is greater.

    Heres the last one I did, sold for $180, and made maybe $50 on. But working on a nice bike and selling to a nice family whose daughter is going to use it makes it a good flip. Zebrakenko Mixte


  19. #19
    Retro Grouch in Waiting geekrunner's Avatar
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    I describe what I do as about 25% flip, 10% part out, and 65% fixed gear conversion. There are too many flippers in Indy that are flipping junk and asking too much, and multispeed bikes that are ready to ride won't get more than $125, unless they are a big name brand. Thus, I pick and choose what I refurbish and flip, and others get the SS/FG conversion. People want to negotiate with me on multispeed flippers, but FG conversions sell like hotcakesand I always get what I ask for them! The money helps out when mrs. geek has an off month selling furniture, and it helps me get bikes I want to keep for myself.

    As far as frames go, I steer clear of frames that are really beat up badly, beyond that I don't do any frame touch-ups. I price the bike according to the condition of the frame. Nice FG conversion frames get $200+, scratched up ones get $145-$195. I try to sell the "character" that comes with a bike that has been ridden and enjoyed, so long as it's still structurally sound and not overly rusty.

    geek
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  20. #20
    You gonna eat that? Doohickie's Avatar
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    Quote Originally Posted by krems81 View Post
    But you haven't started flipping yet.
    I'll give ya that.
    I stop for people / whose right of way I honor / but not for no one.



    Originally Posted by bragi "However, it's never a good idea to overgeneralize."

  21. #21
    Dolce far niente bigbossman's Avatar
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    Quote Originally Posted by mrmw View Post
    I don't keep spreadsheets. But it doesn't take VBA macro's to run the numbers: all of our bikes, plus my tools, parts and cycling gear plus a few dinners out with my wife are the fruits of flipping. Pretty nice hobby, all told.
    All my bikes (Cinelli, Palo Alto, Pinarello, Pogliaghi, restored Mondia, Eddy Merckx, CF Giant), the wife's and daughter's bikes, and my tools have been paid for with flip money.

    Works for me.
    "Love is not the dying moan of a distant violin, itís the triumphant twang of a bedspring."

    S. J. Perelman

  22. #22
    DRF aka Thrifty Bill wrk101's Avatar
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    +1 I specialize in1980s Japanese bikes. I really recommend specializing. First, you will become an expert on values and fixing the bikes. Secondly, you can accumulate the parts you will need. A lot of common parts between all the Japanese brands of that era.

    !00% disagree as well. If you are gong o flip long term, then your reputation as a supplier of clean, ready to ride bikes is like gold. Buying and selling incomplete/unfinished bikes is not going to build the reputation I am seeking. I have had several people come back for bike #2 and bike #3. Even if you charge market price, buyers appreciate getting s good clean, ready to ride bike at a small fraction of a new bike.

    Buy the flipper right, and buy your parts right, and your time and effort will be rewarded. I can list so many examples. But just a couple of quick ones: The 88 Tempo I picked up for $36. I put good new tires on it, tubes, bearings, good lined housings, new cables, etc. Sold it for full market value. A second one was the 80 Voyageur 11.8 I picked up for $16. New tires, swapped brake calipers with a nice set in the parts bin, new tubes, cables, lever hoods. Sold it for full market value.

    The keys are:
    1. Buying the bike right.
    2. Buying the parts right.
    3. Doing all the work yourself.
    4. Don't buy crap. Crap plus your time and effort to rehab still = crap. Buy good solid road bikes only that have a good upside.

    I continue to find bikes to flip, although it does take time to find flips.
    Last edited by wrk101; 05-23-09 at 10:26 AM. Reason: comment

  23. #23
    Avenir Equipped BlankCrows's Avatar
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    The question I ask myself when considering a potential candidate bike to flip is "Can I sell the bike (complete or parted out) and make at least $100 more than what I will pay for it?" (including added costs like bartape) If the answer is yes, then I may buy it, with consideration to what I've already got lying around in the garage that I need to get rid of.

    ($100 is my level -- your mileage may vary)

    Typically, you'll be putting a few hours into it re cleaning and adjustments anyways. I'm not much of a mechanic, so I try to avoid marginal bikes that need extra time to get sorted out.

    If you want to do the charitable thing and don't want to grind yourself, then find out what your local bike co-op accepts for donated wrecks. When you come across the inexpensive bikes that you can't pass up and need some work, drop that coin and then let the co-op worry about how to economically get it into a needy rider's hands.

  24. #24
    Senior Member RobbieTunes's Avatar
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    I'd probably make some money, overall, by flipping, but I just can't quit when I'm ahead. Plus, I give away stuff.

    Somehow, I don't think I'm alone in that regard...
    Robbie ♪♫♪...☻
    You will not believe how fast I used to be...

    1979 Centurion Semi Pro
    1982 Lotus Classique
    1985 Cinelli Equipe Centurion
    1985 Eddy Merckx Corsa Extra
    1987 D'Arienzo (Basso)
    1995 Hot Tubes TT
    1995 Trek OCLV 5500
    1997 Kestrel 200SCi
    1998 Kestrel KM 40 Airfoil
    2004 Quintana Roo Kilo
    2006 Cinelli XLR8R-2
    2013 Eddy Merckx EMX-3

  25. #25
    Senior Member Grim's Avatar
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    Jun 2008
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    Atlanta
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    I agree with the others and Disagree with the OP. It is knowing what your market is and knowing what it is going to take to get that bike ready to sell and balancing your time and money for parts with what you can reasonably get for it. That said some of my local competition is my best Allies. They WAY over price stuff and I price just about what I think it is worth. Buyer's look at 4 similar bikes with a $30-$50 sometimes even higher price then see my ad and drop me a line. Almost every bike I sell goes to the first person that looks at it. I post on CL once a week on Friday afternoon and it is rare at I re post more then once. My Competition postes ever 2 days for weeks at a time.

    My pet peeve is I WILL NOT sell a bike that has brake problems. I may not do anything else to the bike but when it leaves my house it will stop properly. I just couldn't live with myself if somebody got hurt over something like that.


    I'm doing good and in fact for the most part my flips pay for my better keepers that now number 7 between my wife and I.

    I am very picky on what I will buy as well. I am VERY lucky in that the thrift store very near my house seems to be a gold mine of mid level vintage bikes. I live in a decent part of town very close to a high end part of town that has a lot of "junk" bikes dumped at the thrift.

    I tend to stay away from mountain bikes and Kid bikes and try to find road bikes. That said if the price is right on a decent Mountain I will buy it. It has to need no parts because unless it is a high end MTB there is just no resale when somebody can catch a new Next or Roadmaster for $70 on sale at wally world.


    Sold a decent ladys Ross Hybrid/MTB yesterday. Needed no parts just a little cleaning, adjusting and grease. PB blaster is your friend. It will remove rust and it also melts dried grease. I know it is ghetto but I often will pop off the bearing dust covers, Flush the bearings with PB blaster and let then sit over night to dissolve any rust that might be present. Flush them out with brake cleaner the next day and use a needle tip on my grease gun to lube, pop the covers on and go. Total work time is about 10 minutes if I don't have a fight with the dust caps. End result is smooth bearings. I had about 1 hour actual labor in the bike that included a quick wash, bearing flush and grease, adjusting the breaks and derailleurs. It rode excellent when I was done. Hit all the gears perfectly. It felt good to ride. Sold for $100 to the first person that looked at it wanting something to get a little exercise on. She loved it. Had a great conversation and hopefully helped the "bike bug" really sink its teeth in her after sharing loosing 35 lb and having me blood work improve.

    Now the thing that gets me is NOBODY barters anymore. I would have taken $80 for that bike since I had so little time and money invested. I listed it as "$100 OBO" to deal with low ballers. My pocket was empty and she handed me a $100. If I had the $20 in my pocket I would have given it to her. Had the same deal on a Continental II. I bought it cheap. Did nothing too it but find a correct back wheel for it that was included with another bike I bought. Guy drove a 120 mile round trip for it for "$60 OBO" asking and was paid $60. Would have sold it for $40 if they made an offer. Same Deal on another Schwinn. Got it cheap but it had brand new Kenda's on it. Put air in them adjusted the brakes, washed it and sold it for $70 OBO and they didn't make an offer. I had 30 minutes work in the bike.

    I have been profitable on road bikes but I look for the mid to high end bikes. I completely blow off anything department store and stick with name brands or LBS house brands that have decent parts and Cro Mo frames. Those I often go the extra mile to bring in the extra cash and for the love of it. I hate to see nice vintage bikes in bad shape. I want them to be enjoyed and I make sure they are read to go. Got a Miyata 610 that was in the trailer that was about to haul it to the dump. I went through that bike stem to stern, new tires and it came out great! Had a few hours in that one and polished ever bit of metal on it. and compounded the frame and brought it back to a nice gloss. Looked almost new other then the weathered seat. Such a nice bike and I hated to part with it but it was too small for me and too big for the wife. Asking was "$250 OBO". I took $220 for it and turned right around and bought my t700 for the same price after a little haggling.

    I have a 88 Trek 360 I'm working on now I scored for $10 about 20 minutes after it got dropped at the Thrift. Looked like hell and was covered with mildew and pollen. Nice bike that somebody left leaning against the back of the garage in the weather for a couple years. All the bearings have to be serviced. Frame is excellent other then some chipped paint. The bar tape is even great. The rims are as true as if they were new and polished up nice with the Dremel and some mothers polish. Seat is a little rough but I have one in better shape on a bike that I will be parting due to it needing a part I can only find in Scotland (Elastomer spring wiered rear suspension). Chain is just too far gone to bother with even with my electrolyse set up. Just not worth the time. I figure I will have $40 in it and about 4 hours time if I leave it with the dried out tires. I think it will sell for $150. I could put tires on it but I think it will be a wash money wise (but it would look great with some Blue walls that matched it's smurf blue paint). It is rideable with the tires on it but they are original to the bike I think.
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