frantik

there are plenty of good quality mountain bikes available at very low prices. put on slick tires and you've got a perfect city bike. You can get top of the line 80s mtbs with Tange Prestige tubing and Deore components for $200 or less which is a bargain compared to similarly spec'ed road bikes

the vintage road bike market right now is very inflated and getting a road bike for a "good price" takes a lot of time and dedication. if you work a 9-5 job you will probably not be able to grab one before a flipper does

if it's any consolation, the "fixie" conversion market is dying out due to brand new fixed gears bikes being sold for around $400 or less.. i think WalMart has one for $100 actually

noglider 

I really like this thread, even though I haven't experienced the things people here are complaining about. I pictured bike flipping being a small but significant part of my income, and it hasn't, and I've decided not to pin hope on it. Repairs for locals, though, does take a fair bit of my time. I've decided that the next time someone brings me a Huffy to tune up, I'll decline. I've been unable to put my foot down on this front, and now I finally have the privilege.

I don't have a problem finding bikes worth fixing up. In fact, bikes land in my lap. People drop them off and ask me to find new homes for them. I have too many bikes, and I don't spend enough time getting them ready, and I really don't spend enough time listing them. I haven't put up an ad in a year or so. It's amazing I can sell as many as I do. Word of mouth gets around, and people come to buy bikes almost as quickly as they collect here. The trouble is, they're still coming in faster than I send them out, and I'm about to qualify as a subject of the Hoarders TV show.

DirtyHarry714

Good **** right here +1

owenmyers

One thing to know before you buy an old junker is to look out for cottered cranks, these can be very difficult to work with and repair due to my last experiences on an old peugeot from the mid 70's. If that thing is loose in the bb stay away IMHO, i got lucky because my dad is a machinist and that guy can make any part work. if it's legit then go for it! On top of that the previous owner did not know how to get the cotter pins out and practically destroyed them, The hardest part about that was actually finding the right size cotter to fit in my crank. The LBS only had some that were just barely to big so my dad had to grind them down to fit perfectly. Just keep this in mind next time you out picking.

frantik

^ yeah i don't mess with cottered crank bikes

JayButros

Way OT...

...it reminds me of the kid that "took his ball and ran home" when we tackled him too hard.

You're all ME ME ME GIMME GIMME GIMME, NOT FAIR....

JayButros

Here's a nice tip for you flippers that keep accurate financial records and itemize your tax returns.

**THIS REQUIRES YOUR OWN DUE DILIGENCE**

YMMV and so on...


https://www.irs.gov/publications/p529/ar02.html

(look half way down, hobbies are only a small part of this deduction)

"You can deduct certain other expenses as miscellaneous itemized deductions subject to the 2%-of-adjusted-gross-
income limit. On Schedule A (Form 1040), line 23, or Schedule A (Form 1040NR), line 11, you can deduct expenses that you pay...

...Hobby expenses, but generally not more than hobby income."


I'm a practicing CPA and I use this every year.

Oneiron

I know people making a decent living at this (1,000 bikes a year) raiding tag and estate sales, and knowing the true market values. Thanks to Craigslist, too. Nice hobby, tough business, though. Lots of scrap metal, though. Some cash there too.

jeb814

I've spent the last several months cruising through ebay and CL looking to upgrade my Centurion Sport DLX without much luck. It's been time consuming and a bit frustrating when deals fall through at the last minute because the CL seller doesn't want to deal with shipping. So this is a note to you "flippers" out there. I'm looking for a Centurion Pro Tour 15 or Centurion Elite GT 15. If you have one you'd consider parting with, or come across a deal that you can pass on to me, and still make a profit for yourself for time and effort, please contact me.

noglider 

Bill, give your email address, because jeb914 can't send a PM yet.

jeb814, if you have your heart set on one model, you're likely to be disappointed. Lots of bikes are likely to suit you.

jeb814

Thanks for the note Bill. I found your CL listing. The bike is a little too small for me or I'd be arranging payment instead of writing this note. I need a 58 - 62 cm frame.

roburrito

This is because it is a very common scam to be asked to ship a bike and pay Western Union or Paypal. They offer more than you are asking to cover the difficulty. Its a scam 100% of the time involving wire fraud, stolen paypal accounts, etc.

zukahn1 

About the Centurion these where import bikes made in Japan for Western States Imports and had the same component groups as the Nishiki's, Fuji's and Unevega's from the same era. You may look into these bikes for parts as they may be easier and cheaper to find.

zukahn1 

You can change 5 to 6 speeds fairly easy if you can find a vintage freewheel of the same make type. I know on most of the suntour stuff from the late 70's early 80's you only need to change the freewheel and maybe add a couple of washers/spacers. The thing is it usualy isn't worth it on a flipper because it doesn't do much to increase value or ridaiblity. It would realy only be worthwhile if you already have a nice 6 speed freewheel on hand

noglider 

I've converted several from 5 to 7 pretty easily. I don't know but it could help sale value. Not much though. I think used bike buyers don't care terribly about numbers of gears.

spathfinder3408

One way to find out what bikes are worth in resale is to study the bikes on craigslist. you could make a list of names of bikes that sell for more then $100 or $200. Now start looking for those bikes. Don't bother with the bikes that are worth $50 or less. The tires on a $50 bike will cost the same as a $200 bike so why waste money on something that won't pay you back. When I first started flipping I bought everything I could get my hands on and found i was spending a lot of my time on cheap bikes that didn't make much profit. After 4 years of flipping I now buy bikes that will be worth $200 or more when done. Some take an hour or two to ready for a sale and some take more. I enjoy working on a quality bike rather then cheap Wall Mart bike because they are made to last. I like the Japanese road bikes from the 70's and 80's they were made the best. Study the names of frames like Tange, Champion, Reynolds ect and get familier with high end frames vs low end and that tells you the values of bikes when you buy them. I was given a road bike custom build with a Reynolds frame that I sold for $400 because of the frame. So the brand of bike isn't the key, the frame is and good components help, but you can always upgrade those. Good luck with your research

lml999

I've bought twenty or so bikes on eBay over the past 5 years and have parted every one. The only bike I didn't part was a barn-find Raleigh Pro, sourced off CL and sold complete on eBay.

It's helped cushion the cost of my habit. I picked up one Colnago titanium bike for less than a grand and sold the rare carbon Colnago crankset for $500 alone.

It really helps to know your market. I can eyeball a bike and figure what its worth parted out. However...prices for complete bikes and parts seem to be going higher. For instance, I picked up several sets of Campagnolo Euros wheels over the years for under $300 each, and I can't touch those wheels today for less than $400-$500.

It also takes a lot of time to do it right -- cleaning and taking *good* pictures, writing extensive descriptions...and then there's the eBay and Paypal fees. I'm still in the game, but I haven't bought anything for resale in quite a while.

Lee

xn7

yeah decent road bikes are very $$$ now, and on craigslist.. the majority of nice bikes are posted by flippers.. sometimes asking insane prices.

but i do still see a few bikes listed at bargain prices around here, that i could easily purchase and make a profit on.. but to me, i don't know.. it just seems wrong. hopefully some of those bikes are finding good homes.. and not ending up in hands of the guys stockpiling bikes for profit.

if enough flippers are in one area.. think about it, there will be nothing but expensive vintage bikes available on the market

well maybe i have unpopular viewpoint considering the topic of this thread though

noglider 

I fail to see how this is a problem. It means when you finally get a bargain, you can sell at high prices.

What are you after? A bike to ride for cheap, or profits on bikes?

javaride

Theres absolutely nothing wrong with making a profit!!! It's what our entire economy is built on, ney, it's what EVERY economy is built on. The question comes as to whether or not you are doing it in an honest fashion with a quality final product. I'm sure I'm not you're average flipper, I've only done eight this year, but all of them I would've felt comfortable selling to my mother! I've paid as much as $50 for some, as little as $6.00 for others. I spend countless hours meticulously cleaning, polishing, rebuilding and adjusting. When I'm done,it's like new, other than whatever scratches I couldn't remove from the frame. If I can get $350 out of a $75 investment, (total, parts and all), why should I feel the least bit guilty. If you just hose one off, make a couple minor adjustments, and prop it up on cl or where ever, yeah, shame on you. I work full time, so it's hard for me to snag those "good deal" bikes too, just remember, "the early bird gets the worm" is not just a saying. I won't look at ebay cause they just cost too much with shipping, and you never really know what you've bought till it gets to you, but I check cl every morning before I go to work, scratch down a phone number if need be, and call'em during the day. It's really just a hobby for me, a labor of love. saving an old Schwinn, or whatever from the dump gives me a certain gratification, your reasons may be different, but out of what I've read on here, and what I've experienced, it really seems pretty simple, full-time flipper, or hobby/stress relief, whatever your motivation, be mindful of what you buy, (you know what's a decent bike and what isn't or you wouldn't even be flipping, come on...), and do a good, thorough job of re-conditioning that ride, and don't be afraid to ask a fair price for your investment, time included. Always remember, if that ride is worth it to the buyer to pay a price you have agreed upon, obviously it's worth it to them, and no one else matters...

spathfinder3408

Dittos on this issue. I have been fixing and flippin bikes for almost 4 years and do it because I like it. Most don't realize its a labor of love. Once in awhile I get a good deal on a bike and don't have to do much to resale it, but thats not the usual. Most bikes I rebuild everything, all bearings and make sure the tires are excellent or new. I always match and touch up scratches on frame and finish with a complete cleaning and wax job. I always take a test ride to make sure everything works right. And i would sell those bikes to my mother. Selling a bike to a person that gets a smile on their face when they take it for a ride and saying ,"I like it", makes it all worthwhile. Classic bike saved and passing on to a new owner is all worth it. I just make a little play money doing this, but self satisfaction in what I do is better then my regular day job. I am retiring soon and will take this hobby with me

renovater

i have a 1930's-40's Sunshine Bicycle that could use a little tlc, it's complete--good flip for a colector

jjames1452 

What do you think of buying a vintage touring bike for the parts and flipping the frame. I have a couple of cool frames to build. I believe I can look for bargains. Use the components. Sell the frame. And about break even. CL for the bargain. Ebay to sell the frame.

javaride

In my Humble opinion, I think it's a great idea!! In fact I've done it a time or two . . . If you can make the dollars work why not?!?! Vintage parts are getting way high on the bay, and there tough to find anywhere else. I recently purchased a pair of vintage peugeots for exactly that purpose. I'll rebuild one, save any parts worth stashing, and re-sell the frame. If I only break even, I've at least been able to dable in my favorite hobby for free, (or close to it), and that, my cycling friend, is not a bad thing at all!!!

tornado60

Expect there to be more wrong with a bike than meets the eye.