Flipping for Grails!
 

This Christmas my mom gave me a check for $100. I started getting the itchy CL finger, and the next thing I knew I had bought a touring bike. I had this idea of trying to use the money my mom gave me and buying successively better and better bikes, until I got something I really wanted. Even though it's not "bike selling season", I decided to throw caution into the wind and list up the fully serviced bike. To my surprise, it sold within a few days of listing it.

http://www.bikeforums.net/attachment...4&d=1389947940

Before I had even sold that bike, I already had another "in my sights".. I could tell from the pictures it was in good condition, but I was blown away when I saw it in person. This bike needed only a customary tune up, and was quickly sold, again within just a few days of listing the bike. On a cold day in the middle of the first storm we've seen here in California all winter.

http://imageshack.com/a/img37/8676/t3k3.jpg

I feel like I could have held out for more money on the second bike, but I'm glad I didn't because literally the night I sold that bike (to someone who was so excited about it they were grinning from ear to ear), I went and bought the closest thing I could think of to calling a "grail" bike for me.. a DBR Axis TT.. Diamondback's titanium frame mountain bike from the early 90s. As a big Diamondback fan, it's exciting to get a hold of their highest end frame they ever offered, and also to join the titanium club :D

http://imageshack.com/a/img838/4656/fayw.jpg

I was imagining myself buying and flipping bikes all summer long and making some crazy trade or something, but in the end it only took a little seed money and flipping two bikes to end up with enough cash to justify buying something that normally would be way out of my price range.. and I still have $100 left over. So I'm back where I started! And I have another bike in my sights.. I mean how else am I going to afford the bling to put on this frame? ;)

Keep it going...never get attached to bike/part. Make smart decisions and almost any bike is attainable by flipping up.

My cost basis on this bike is a negative $587, it took 1 flip to acquire it.

http://i495.photobucket.com/albums/r...ps5152f595.jpg

^ nice :D I need to become more familiar with higher end and modern markets so i can get myself into a bike negative 500 bucks :lol:

Judging by the goshawful spew that clogs our CL, quite a few "flippers" are reading the same manual.

I rarely look anymore.

Too many $25 bikes going for $250.

Some sellers like MiamiJim seemingly run this plan well, most are just annoying to me at this point.

Wait, maybe I don't uderstand this because I live way out in the woods where very little seems to appear on CL (and I rarely look). But the idea is that you buy a bike on CL, do a cursory tune-up, and re-list it on CL for a lot more money a few days later for a lot more money? And no one notices that they could have bought the exact same bike for way less a few days earlier? I guess it works if there are enough new people looking at CL. What a concept.

Not suggesting that that's unethical or unfair--I'm just surprised that it works.

well in this case I was very lucky that the second bike needed very little (mostly some adjustments and truing the wheels). The first bike I did a ton of stuff including stripping off the house paint that covered up the frame, rust removal, replacing bearings, in addition to the typical repack and recable.

but yes the concept is buy things below market value, add value if possible, and then resell them at market value. It might mean buying something and fixing it up, or buying things that are presented poorly and then presenting them well. If you do right, you can sell the bike faster at a higher price than the first person would do it at a lower price.

here, we have the mix of discount store bikes and overpriced entry and mid-level moderns.
seems like lately, the only bargains are in hot modern bikes. the more they cost new, seems the bigger the price drop 3-4 years later...

probably people trying to avoid ending up with a 30 year old garage queen that they rode only twice :lol: maybe new bikes are kinda like new cars, they lose a ton of value when you roll them out the door?

This seems to be the case.

For example: A friend bought a $5,500 Litespeed (new price) last fall off our local CL.

The bike had been on CL for a month and on a whim, he went and looked at it.

He offered $1,750 and the guy took it.

It looks like it had been ridden maybe ten times tops.

This process works with anything because it is the very soul of our economic system. Miami Jim being the Bill Gates of flippers,of course.
I can"t get going each morning "till I cruise my sources and,like fishing,I have my special and secret spots.

CL is not my #1 buy spot, too high priced lately. EBay,for me is the best for selling because of the huge audience.

This used to work for me with houses but the stricken economy took the shine off that Apple.

CL is my main source just because it's so convenient. It is more expensive than garage sale/flea market prices but if you're smart and can act quickly you can score some deals.

they better raise that minimum wage to 15$, at this rate it takes a mighty long time flipping burgers to get to that Pegoretti :)

Flipping for Grails!
 

The process is fun and profitable if you are smart. I'm always on the lookout for a good deal on a bike that I can flip. And some of the flippers are a good source for bikes too. Some deal with only a certain type of bike and when they acquire something offbeat or that needs a lot of work they may give you a good deal.

Lots of problems and pitfalls too. Buyers that don't show, email scams, and the one I seem to attract, guys that just want to talk bikes.

Have fun with it, keep buying and selling to support your hobby.

I think Frantik hit the nail on the head. It's about adding value and most importantly reselling at market value. The annoying flippers are the ones who post the same bikes over and over at prices which the market rejects. I think the trick to making money is to be really knowledgeable about the going rates for bikes. If a bike doesn't sell in a week, chances are good that it won't sell at the asking price. Once you have a feel for what your market will bear, you can better select bikes that have profit potential.

BTW: [MENTION=220566]frantik[/MENTION], nice score on that DB Ti frame. I picked up a Ti bike last year for peanuts, the seller buried it in a multiple bike ad. He described the frame as "made of bronze". The components were shot, rebuilt it with nos parts from my bins + a few new bits. Enjoy the Ti "magic carpet" ride!

http://i771.photobucket.com/albums/x...ps312c377b.jpg

I have always believed that the best deal is one in which both parties walk away happy. When I was flipping I always priced a bike so that I could sell it in a day or two, waiting for someone to give you the price that you see on eBay for a bike is, to me, crazy. I just didn't have the time.

My bike kitty is pretty large, I was flipping for nine years and I have only 10 personal bikes. I owe myself at least a couple of Pegorettis ;)

I'm impressed that you all are able to do so well at it. Seems like a fun game, but takes more time that I'd be willing to donate, so my hobby definitely costs me money.

I gave up on flipping, the market is too well poured over by a handful of individuals in this market. I can't leave work in the middle of the day to snag a score, nor can I browse CL full time.

Maybe Miamijim should do an IPO and sell shares to you?☺

I would buy into that!

In Southern California the CL is filled with trashed bikes that are being offered for $250-300. Every once in a while there is something interesting. I missed a Colnago Tecnos recently but that is an exception.

I wish. I have a full time job, I'm 'on call' every 4th weekday and 4th weekend. When I'm 'on call' I have to be within 30 minutes of the hospital. I don't have the time or desire to keep up with the big time local flippers...I just don't care about them. Less than 50% of my finds are from CL. A lot of it has to do with your tolerance to spending money.

Are you willing to drop $100? $300? $500 $1000 or even $2000 on a bike to flip? Getting up into the $500-1000 range isn't for the light hearted. A few years ago I paid $850 for a 2005 model bike that originally retailed for $8800. I test rode it, did my due diligence, everything seemed OK. Recently I decided to sell the bike and discovered numerous problems, too many to list but I'm struggling to break even on that bike.

yeah the more you're willing to invest, the bigger they pay offs can be, but as you say it's also a bigger risk. if you can't afford to have a bunch of money tied up in assets that can't be immediately liquidated it can be a problem

I have thought about it, but I don't have the reach of a personal network or time to chase around deals. However there are a lot of people in the far out burbs of Chicago that have some nice stuff, but I would need to make a weekend, or take a day off work, and cruise around. I know I helped a member on here score a deal on a Trek 600 a few weeks ago. I would have bought it had it fit me.

The problem with big cities, and Chicago especially, is there is a lot of people who live in the city and flip bikes easily because there is a market there. I live on the out skirts and there isn't much here, and when their is people ask big $$ for a bike that isn't even worth it. I saw a guy at a garage sale selling a lugged frame Schwinn with lots of rust, needing tires/chain/complete overhaul for $300. I offered him $100 after pointing out what it needed and he responded that he would keep it till some "schmoe" bought it for what he wanted.

I drove away.

So I turn wrenches on cars instead to support my "habit" :) But the cold sucks for working outdoors.

I started out flipping when I got the fever and it was a great way to learn about lots of components and brands. i also spent a good deal of my time rummaging for parts and scouring ebay for deals... I got a couple early cinelli 1A and 1R stems on the bay and even flipped a 1st gen 1A at 10x the cost on ebay. I don't have time for it anymore. I have a back log of personal projects and a bike to build for a friend. With the day job paying for my hobby. I also ride modern stuff and the bill for the suspension service on two full suspension MTBs in the household last fall was $700. That was a reasonable price for the work done and it was done at a bike suspension only specialty shop on the North Shore of Vancouver. I'm also converting my rig to 1x10 this season for fun... cost about $250.

Without a dedicated shop and storage area, you're behind the 8 ball. Bikes take up a lot of storage space; right now I have too many and they are stored in my garage, basement, and 10 are in a storage unit. I have 3 "grails" in the house. I have about a dozen winter bike projects awaiting photography as finished flips, but with nothing but snow as a backdrop.........................

I have to get my rental apt done so I can move furniture and housewares up into it. I've got some cool mid century modern icons and would rather rent the unit furnished than pay to store it. That would open up a lot of space too.