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Turbo flippers! What's your fastest flip?

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Turbo flippers! What's your fastest flip?

Old 07-07-11, 09:01 PM
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frantik
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Turbo flippers! What's your fastest flip?

What's your fastest flip? and how much work did you put into it?



Recently I've sold two bikes after having them just 2 or three days. On one bike, the ad was up less than an hour!

On the afternoon of July 3rd someone posted an ad for a $25 "great Nishiki road bike". I replied two hours later, assuming I was already way too late. I didn't even expect a response, but a couple hours later I got an email from the seller letting me know I could pick it up the next day.

I met her on the 4th of July and got the bike around 1pm. It was in pretty good shape for a $25 bike.. drivetrain was covered in grime but otherwise good. I took her home, then went to my friends for the holiday.







July 5th I spent pretty much all day overhauling the bike, tore it down to the frame, greased all the bearings and put it together with new cables, tires and bar wrap.



After taking some pictures and a brief test ride, I listed the bike on July 6th at 8:30pm for $200. It still needed some fine tuning on the rear derailleur but I figured i could fine tune it that night before I sold it.









Went to the grocery store at 9pm and when I came back, I already had multiple emails, including one guy who wanted to buy it that night! Called him up, guy says he can be there in 10 minutes. I was like.. "uh i need to adjust the derailleur a bit first" and he's like "it's cool i can do it". I still managed to adjust the rear derailleur in the few minutes it took him to come over and stop it from dropping the chain

Guy spent 5 minutes looking at it, no test ride, no haggling. Boom. Over $100 profit in fewer than 72 hours. I was pleased, especially since i busted my ass all day the day before to get the bike back on the market asap.

Two weekends ago I sold an old Hardrock MTB in 2 days for a $40 profit.. I didn't spend nearly as much time on it though, just enough to get it road worthy. Probably actually made more "per hour" on the hardrock even though it didn't bring is as much total

None of the bikes I've done a full overhaul on have lasted 24 hours on CL.. i think i need to raise my prices I figure I could have probably priced the Nishiki higher due to the response, but I wanted a quick sale and also feel bad trying to charge more than $200 for a hi-ten frame with all steel components
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Old 07-07-11, 09:29 PM
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Well, I for one am more about doing a good job and selling a solid bike to someone. Most people doing know how to do even things that seem simple to me, and they're buying a used bike because they don't really have the cash for a new one, which means also not paying a bike shop $100+ to fix a problem. So I make sure a bike is completely greased, tuned up, and ready to go for a while before I sell it. That said, I think what you did with the Nishiki was great. You scored a great deal on it, and then you thoroughly fixed it up and someone is going to be happy with it and hopefully put some miles on it. Even if you didn't make as much per hour as the Hardrock, you still made more in general and did a better job from the sounds of it. Totally worth it to me. I feel you on the $200 for a hi-ten frame with steel components, though. It would probably have gone for that in the high market here too.

As for my fastest flip, I don't know if it really counts for what you're asking, but when I sold my Bridgestone I completely overhauled it one day, put it on CL that night, and sold it to a girl the next day ~noon. I did ride that bike for a summer, though, so it wasn't a 24hrs from the time I got it flip. As long as you're not asking 2-3X "fair market value" for a bike around here, they tend to sell within a day or two. I kinda hate this area for that very reason. It's impossible for me to get bikes for myself at decent prices, much less turn a profit on a flip.
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Old 07-07-11, 09:37 PM
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Well, there was a bikes swap a couple of years ago where I traded my shiny lady's DL-1 for a shiny Supercourse and a shabby men's DL-1.
A guy offered me a hundred bucks for the Supercourse less than an hour later. It had been a slow day so I took it. Dumbest thing I ever did but it was a quick flip.
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Old 07-07-11, 11:26 PM
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I've picked up a couple bikes and had them sold within an hour before.
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Old 07-07-11, 11:28 PM
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Two Christmases ago, I was going through some financial challenges, and my 10 year old daughter wanted an Ipod Nano. Unfortunately, I was broke financially, as the money from previous flips was going towards my bottom line. This particular weekend my daughter was with me, and I was not able to get up extremely early to go garage sale hunting looking for bikes. Around 11am, I asked her to get ready because we were going garage sale hunting. It was a long shot, as I knew that to find the vintage Italian road bikes, you hve to be the first one there, as it is not the early bird that get's the worm, but the fastest! :-). We found several sales, but no luck findig bikes. My faith never waivered, and I was confident that I was going to find at least one. On my last search, around 12 noon, we stopped at this garage sale. I did not see any bikes as I approached the house, but I parked anyway and got out to browse. The garage door was opened, and there were things everywhere. I looked closely, and to my surprise a vintage Motobecane Grand Jubile in beautiful sky blue color, and in great shape was leaning on the side of the garage. I asked the lady how much she was selling the bike for, and to my amazement, she said $2.00, or it was going to be placed on the side of the road if it didn't sell just like her other things! (I haggled with her for a couple of hours, and got it down to .50 cents, kidding) :-) I quickly gave her the $2.00, took the bike home, cleaned it with a wet rag (no work needed as it was in great condition), and sold it 10 minutes later on CL for $150. The next week during Christmas, my daughter unwrapped an Ipod Nano. I always look back and thank the lady that sold me the bike, and the person that bought the bike. I have other great flips, but this is one of the most meaningful ones.

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Old 07-07-11, 11:40 PM
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Old 07-08-11, 12:36 AM
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The last 2 bikes I sold were newer bikes and therefore they were just clean up, adjust brakes and derailers and list them on CL. I didn't get these listed right away because I thought I had friends that would be interested in them, but they weren't. Once I did, the GT sold in less than 3 hours and the Trek sold in less than 24. I made $100 on both of them, but I got lucky getting really good deals on them in the first place and they were in great slightly used condition. I have had a couple different bikes I have brought home got them ready for sale and sold them the next day. I like those.
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Old 07-08-11, 01:23 AM
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Originally Posted by flash2070 View Post
The next week during Christmas, my daughter unwrapped an Ipod Nano. I always look back and thank the lady that sold me the bike, and the person that bought the bike. I have other great flips, but this is one of the most meaningful ones.

Flash
thats awesome.. i felt similar gratitude to the person who sold the nishiki for cheap.. it really helped me out since i was a little short on rent
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Old 07-08-11, 04:40 AM
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I bought a 20" folding bike at the flea market and had it sold to another flea market atron before I left the market. 5 minutes?
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Old 07-08-11, 05:40 AM
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^ how much did you make?
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