PatTheSlat 

This is actually regarding the bike I posted about in this thread: https://www.bikeforums.net/showthread...oup?highlight=

Sold this for $260 on March 27th. Delivered it to the buyer, did some shopping, and by the time I got home a few hours later, the buyer had re-listed the bike on Craigslist for $150. Used my same pictures and everything, but put his phone number in the ad. This had me pretty worried that he had paid me in counterfeit money or something, but the bank ATM took it without a problem when I deposited it into my account. Even if he immediately decided he didn't like or didn't want the bike, it seemed bizarre to me that he'd re-sell it for a $110 loss rather than try to get his money back out of it. Within an hour, that ad was gone, and I forgot about it until today.

Today I see this: https://columbus.craigslist.org/bik/3726682891.html Exact same bike, re-listed by a third person, this time for $195. Anyone have any insight into what could be going on here? Is this just a situation of everyone who buys the bike immediately hating it? It's got me somewhat confused.

wrk101

Sometimes people buy things they can't afford, lack marketing skills to get close to full value, and resell stuff for less than they paid just to get enough to pay the rent, buy food, whatever.

The third guy may be the same guy twice, or may be a DKO flipper just looking to make a few bucks (realize if it is a third person, he might have paid the second guy less than his asking price, so still could be making some nice $$ on something he did zero work on).

From what I have seen around here, the DKO crowd makes more $$ on bikes, and spends zero time and $$ on rehab. So from a pure profit standpoint, they do quite well. I've bought several from perhaps the biggest DKO seller in Charlotte. Guy sells 200 to 250 bikes a year, averages $75 to $100 in profit on each bike (guess on my part). So he is making an easy $15K to $20K per year on bikes..... Only tool he owns is a floor pump.

auchencrow

This is pure speculation, but I'd imagine it was a case of buyers' (or wife of buyer's) remorse that drove the quick sale at a loss. It may have something to do with food or rent as Thrifty Bill suggests.

The second one baffles me, because he apparently knows something about bikes based on his presentation, and if he is a DKO flipper, it is most peculiar that he is not trying for full market value or above.

RobbieTunes

I'm not even going to venture a guess; could be anything.

People do stuff.
Don't worry about it.

PatTheSlat 

Just sent the current seller an email offering $160, because hey, why not? I've already made $275 in profit on this bike (sold the original seat separately), might as well go for some more.

Paramount1973 

That's a business plan! Just keep selling the original bike at the $260 price and keep buying it back at a discount.

RobbieTunes

Exactly what people are doing with real estate and some government programs.
I'd buy it back, too.

seypat

It could be a ligit way to get contraband passed between consenting parties.

illwafer

i've seen a bike i've sold turn up on CL with my pictures, description, etc. i'm pretty sure it was a scam, and not necessarily the buyer.

dddd

Dko?

mrlassiter

'DKO'= Dirt Knocked Off (?)

Ferrous Bueller

Maybe the bike bubble just burst...

Narhay

There was a bubble?

PatTheSlat 

Picking it up tonight

DiabloScott

So you're sure the first seller was your buyer? And you're sure the second seller actually has the bike?

cehowardGS

At my age, nothing surprises me..

As you get older a lot strange and unexplainable things will be happening..

oddjob2

Some people eat too many Buckeyes or need their oxycodin fix!

Good luck and bring a friend!

wphamilton

That's what I was thinking. Maybe the first seller stole it. I'd contact the first buyer and ask - and who knows, maybe he'd like to buy it again.

thinktubes 

PatTheSlat 

Got the bike back for $175. Yes, I am sure the guy I sold it to was the guy who re-sold it. The phone number in the ad when it was listed for $150 matched the number of the guy I sold it to, and the most recent seller knew the history of the bike (that it had been in storage for many years). Total sequence of events is as follows:

I sell the bike to Guy 1 for $260.
Guy 1 re-lists bike for $150, reasons unknown.
Guy 2 contacts G1 about the bike, ends up buying it for $175 because he wasn't the first person to contact G1.
G2 has the bike for a couple weeks, then his wife tells him he needs to sell one of his three bikes, so he lists it for $195.
I buy the bike back for $175.

All in all, I initially paid $35 for the bike, sold the saddle for $50, put a parts bin saddle on it and sold the bike for $260, then bought it back for $175, so add that all up and I currently have -100 dollars in this thing.

Best bicycle ever.

frantik

this is one of the best CL stories ever

good luck selling it again

pastorbobnlnh 

Just read the original thread. You need to ask ftwelder if he made the frame. He worked for Mongoose at the time. He might shed more light on this particular model.

JReade

+1 this is pretty hilarious. You need to scale it up a bit, since you're in it for -$100, you might as well swing for the fences.

Ferrous Bueller

Someone should make a movie about this from the bike's perspective. Like The Red Violin.

BentLink

Any economics/business grad students in the crowd? There's at least one good publication lurking in this case study...