Originally Posted by miamijim

One of the taboo subjects in C&V is asking 'how much did you pay', its kind of tacky to ask but its also understandable for other to want to know. A few years ago I officially quite flipping, I still bought, sold and collected but no longer pursued it, if something became available and I liked it I'd buy it. Back then I kept spreadsheets of all my dealings but stopped in Dec. of 2010.

For you guys that are struggling I can only say a few things. First, bikes can pay for bikes but you have to let them go. Second, there's always another bike.

This spring I decided to get back into flipping, not as hard core as in the past but I pursued it and started a new spreadsheet.

The numbers:

14 transactions

15 complete bikes
3 parts stash's
1 frame and fork

2 transactions with bicycle shops
1 transaction with a big time local flipper

The numbers don't initially add but because 2 of the transaction were 3 bike 'group buys' and 1 transaction with a shop was for the frame and fork and a parts stash

3 titanium bikes
NO Carbon bikes
2 mountain bikes (1 was Ti)
5 Campy Record bikes
2 Dura Ace bikes (1-8speed 1-10 speed)

7 of the 15 complete bikes were parted out.

1 bike was traded for another bike

1 bike cost over $1000
2 cost between $499 and $999
5 cost between $199 and $498

Worst deal: $10 lose. Raleigh Mk II SC mixte Shoota re-flipped to me for $175. It sold on eBay for $233 with shipping. I was really disappointed with this bike, I was hoping to sell it for $400 +/-

Best deal % profit: 900% profit. Paid $175 for a '72? Raleigh Professional w/ a big parts stash and sold everything for $1200. I still have a few stragler parts from this deal. Not my all time % profit bike....

Best deal $ profit: $2050 profit. Will not name the bike to protect the interests of the owner but I paid $2230 for the bike which came an extra set of wheels, 2 NOS chains, an NOS Ti cassette, Sidi shoes and 2 Ti railed saddles. Revenue on this transaction is $4405 and I still have the shoes and 2 saddles. Not my all time $ profit bike....

Total expenditures: $6574 including gas and parts
Revenue with shipping: $13,947
Actual shipping paid out: $729
Gross Profit: $6644
Projested eBay/Paypal fees: $1000 +/-
Net Profit: $5644 plus value of remaining bikes and parts...maybe another $2,000 or so a net profit of $7644 once everything is sold

Most of my items are sold with free shipping which explains the 'revenue with shipping' and 'actual shipping' entries. These stats don't include everything I sold, there was period in from May though June when I was selling so many items that I got lazy and didn't enter every part sold. eBay and Paypal fees haven't bee deducted but figure $1000 or so.

I still have a boat load of parts to sell from the transactions/parted out bikes and the following bikes:

Basso Gap F&F
Paramount PDG 70 Mtb complete bike
Terry Symmetry complete bike
AD Vent Noir complete bike
LeMond Maillot Juane F&F (pre-Trek)

I changed my philosophy this time around. One of my old rules was a minimum $100 profit per bike, this time around I adjusted to a minimum of $250 per bike, lower volume higher profit margin. This also increased my cost per bike, the last time around I could pay $50 for a bike and sell it for $150 to reach my goal. In Tampa its too difficult to find $50 bikes that can be sold for $300 but I can find $500 bikes that I can sell for $750. Going upscale also prices many of the flippers out of the market.

A few bike I only dusted off and did a quick tune-up on, maybe 15 minutes of work. Others were real headaches, it seemed like everything that could go bad was. Oh well, you win some and lose some.

Sellers remorse? Only 1 bike, it rode so nice and fit me like a glove.

Last but not least a quick props to 'shoota' for bringing a few bikes to my attention.