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Flippers: A Rant (Sort of)
Don't know if this is the appropriate place for this mini rant, but why not?
I actually appreciate people who save otherwise serviceable bikes from the dump. And I appreciate people who check over the mechanicals, replace worn parts, clean bikes up, then look to make a profit off their labor. And I realize that there is nothing wrong, per se, with flipping. I actually saw the initial add and thought, that looks like, with a once over, maybe a tune up would make a nice commuter, or entry level bike for someone. Oddly enough, that same bike sat on CL for weeks until the seller dropped the price to $100. I know the original seller sold the bike Friday because I actually inquired about it, seller texted me back that he just sold the bike. No big deal, as an extra bike project is more a want than a need for me anyhow. Now the same bike is back up with a different seller for $250. So here is add A, posted Friday. http://milwaukee.craigslist.org/bik/4353697158.html Here is add B, posted this morning. http://milwaukee.craigslist.org/bik/4356249644.html So, I am not hopping mad, nor even disappointed I didn't rush out and get this bike, but mildly piqued. |
Thats the price of free markets.
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Originally Posted by howsteepisit
(Post 16540906)
Thats the price of free markets.
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Hey, it looks like he raised the seat....
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Why are you upset? Your opinion was that it needed a tune up and would be a good entry level bicycle. You say it sat on CL for weeks. Why didn't you buy it to flip? The buyer that is flipping it, may not even be a bike guy.
There are items (including bikes) that I'll buy on Saturday and sell on Sunday. Doubling my money is a low to poor return on my investment. I am amused by the CL police (not necessarily you) who think they need to complain about pricing and immediate flipping. The value of any item is what someone will pay for it, so the general opinions of experts doesn't really matter. A young student on a budget is focused on price first. A hipster geek with a wad of cash cares about looks and what the other hipsters think. I can sell to both and make good money. Neither are concerned about where or when the bike was built. Many CL sellers do NO research on the value of their items. They want that crap out of their garage. Not my job to educate them. I buy cheap, sell high and turn quickly. |
I get annoyed by this stuff sometimes too (mostly because I missed the deal!), but as mentioned it's a free market. Keep in mind it won't necessarily sell at that price, especially if it was up for a while with the old ad.
I've bought bikes at a local pawn shop and put them on craigslist the same day for twice what I paid. Easy money. |
I only get mad at flippers when someone buys the bike I was planning on flipping and, you've guessed it, that person flips it.
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MRT2, show some compassion, the flipper needs to improve his home. Worn out, fake, parquet vinyl tile, a peeling and unpainted door, and evidence he's still using a desktop computer.
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I wouldn't be too upset. This particular person doesn't appear to know what they're doing. Rigid mountain bikes are a dime a dozen and it was worth around $100-$150. There is no way they will get $250, especially with that sorry ad. The only reason I'd be peaved is that now I'd have to look at that ad for the next year.
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Originally Posted by likebike23
(Post 16541046)
I wouldn't be too upset. This particular person doesn't appear to know what they're doing. Rigid mountain bikes are a dime a dozen and it was worth around $100-$150. There is no way they will get $250, especially with that sorry ad. The only reason I'd be peaved is that now I'd have to look at that ad for the next year.
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Originally Posted by likebike23
(Post 16541046)
I wouldn't be too upset. This particular person doesn't appear to know what they're doing. Rigid mountain bikes are a dime a dozen and it was worth around $100-$150. There is no way they will get $250, especially with that sorry ad. The only reason I'd be peaved is that now I'd have to look at that ad for the next year.
They clog the local CL as well. It gets old. |
Buy low, try to sell high. That's the name of the game. ;)
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Well this one is actually kinda funny the guy flipped the bike around and took somewhat better pic from the drive side and expects to get a $150 more for the bike. This one will sit on CL for a long time.
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+10000000!
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Originally Posted by oddjob2
(Post 16541019)
MRT2, show some compassion, the flipper needs to improve his home. Worn out, fake, parquet vinyl tile, a peeling and unpainted door, and evidence he's still using a desktop computer.
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I've trouble getting too upset about this. I don't control other people, at least not very well. And I've found interesting bikes come to those that wait. People are free to charge whatever they want, and they often choose to charge ridiculous prices no one will pay. All this means is you get to wade through their ads on CL and ebay, the same ones over and over, for months on end. Although this may seem like a not-so-special gift from ol' scratch himself, I can think of worse fates.
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Ehhhh. There's a local guy here who does the same thing. I'm not sure he ever sells anything, as he lists the same bikes on CL EVERY TWO DAYS. I find the constant spamming from him on CL more annoying than anything else.
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Originally Posted by nesteel
(Post 16542055)
Ehhhh. There's a local guy here who does the same thing. I'm not sure he ever sells anything, as he lists the same bikes on CL EVERY TWO DAYS. I find the constant spamming from him on CL more annoying than anything else.
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One of my first rules of flipping bikes is to wait at least a couple months if my end game is to sell it on the same craigslist where I bought it.
I find it works well to help deter the fussy sour grapes emails and counterpoint CL ads (LOVE THOSE- never been on the receiving end, just hate seeing them clog up my quiet little craigslist) from people what missed the boat the first time around. e: wait, why is the first ad still up? |
Thanks, guys for the feedback. If it doesn't sell by the end of the month, maybe I will offer the guy $100.
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I think $100 was a fair price (no steal here). The only problem I have is if the second person represents as ready to ride without any service.
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Originally Posted by MRT2
(Post 16543590)
Thanks, guys for the feedback. If it doesn't sell by the end of the month, maybe I will offer the guy $100.
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Originally Posted by Thumpic
(Post 16545992)
Unless you're getting it to ride; $100 is too much for a flip.....
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I am occasional flipper - usually when deal is too good to pass. I try to keep the bikes I like but sometimes it does not work out and I sell them. I am only mad at other flippers when I miss the deal :-) For example this gorgeous Ritchey was posted for $50, ~1 hr drive away from me. I was first in line but could not make it the same day. Well known seller on local CL got it from under my nose for $175. Now it is on our CL for $475 - http://toronto.en.craigslist.ca/tor/bik/4358341353.html. From what I gather (I asked original seller) - he told him he is a collector and offered more. I asked the guy to txt me if anything changes (would have matched $175 offer for sure) but he either did not understand it or did not bother figuring $175 in hands today is better then waiting for tomorrow. Oh well - such is life, you miss some deals and get other
http://images.craigslist.org/00O0O_8...Q9_600x450.jpg |
It's perfect for a back up bike! Put on some cruiser tires and ride 'n style!!!
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Originally Posted by wrk101
(Post 16547910)
Why all the scoopers were not all over this deal was beyond me.
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Originally Posted by wrk101
(Post 16547910)
If I held bikes for people that were coming this weekend, or tomorrow, or whatever, I would have 100 more bikes than I have today. C/L is the land of no shows. My basic rule is I will hold a bike if you call when you are heading my way (I won't sell it out from under you while you are driving). Last bike I held was supposed to be for two days (payday for the buyer). I even took a deposit. Well, then his paycheck was less than he thought, then his rent was due, etc. It drug out for over a month. Shame on me.
And on a bike that is a smokin hot deal, like that Ritchey, I assume any delay on my part invites others to bump me off the priority list by offering more. Anymore, if I can't pounce, I assume someone else will. That said, about two months ago, there was an incredible deal on C/L, I saw the ad an hour after it was posted, so I assumed it was gone. The next day, the ad was still up (WTF?), I contacted the seller, and picked up a Trek 1420 for $40. Why all the scoopers were not all over this deal was beyond me. After refreshing the bike (cables, bearings, new tires, replaced saddle and pedals, new bar tape), it sold quickly at fair market value. The advantage of being an old retired guy is I usually have the flexibility to launch after a bike any time. The disadvantage is I do not have a paycheck to fund this activity. So it kind of balances out. |
^Ah yes, the famous I showered with this bike flipper. That fellow should know that glass block was last a hot look around the same time Miami Vice was on TV!
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The Ritchey is a lower end model that won't sell for that much to a collector. And if you don't believe me, I have the same frame and fork in my garage that I will let go for half his asking price.
I don't mind flippers at all, I like to think they hide the gems between their multitude of reposted adds from the casual eyes. :rolleyes: |
Originally Posted by Aemmer
(Post 16548853)
The Ritchey is a lower end model that won't sell for that much to a collector. And if you don't believe me, I have the same frame and fork in my garage that I will let go for half his asking price.
I don't mind flippers at all, I like to think they hide the gems between their multitude of reposted adds from the casual eyes. :rolleyes: |
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