So you want to flip bikes for a living? Part II
10-10-09, 07:46 PM
#51
Thrifty Bill
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Bikes: 86 Katakura Silk, 87 Prologue X2, 88 Cimarron LE, 1975 Sekai 4000 Professional, 73 Paramount, plus more
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Fortunately, I also search for other items at the same time, mainly designer clothing and other opportunistic ebay items. I find the other stuff 10X to 20X as often as bikes. If I was just looking for bikes, it would be frustrating.
As far as where to find bikes, this year, 50% came from thrift stores, 25% garage sales, 10% Craigs List, 10% word of mouth, and 5% ebay. In the last couple of months, 90% of my bikes have come from garage sales.
10-10-09, 08:57 PM
#52
Freedom Fighter
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My searching and finding is probably 3X the time spent rehabbing.
Fortunately, I also search for other items at the same time, mainly designer clothing and other opportunistic ebay items. I find the other stuff 10X to 20X as often as bikes. If I was just looking for bikes, it would be frustrating.
As far as where to find bikes, this year, 50% came from thrift stores, 25% garage sales, 10% Craigs List, 10% word of mouth, and 5% ebay. In the last couple of months, 90% of my bikes have come from garage sales.
Fortunately, I also search for other items at the same time, mainly designer clothing and other opportunistic ebay items. I find the other stuff 10X to 20X as often as bikes. If I was just looking for bikes, it would be frustrating.
As far as where to find bikes, this year, 50% came from thrift stores, 25% garage sales, 10% Craigs List, 10% word of mouth, and 5% ebay. In the last couple of months, 90% of my bikes have come from garage sales.
I get a lot of my prizes from Craigslist here in the Metro Detroit area. I look for vague ads that have bad pictures and very little information. If they are nearby, I'll give them a call for more details. I can usually beat the flippers to a good bike that way. I also check Craigslist at certain times of the day when I know people are frequently posting and I try to check often. The trick is to catch the person right after they have posted and get there first. I scored a 2008 Schwinn Alloy DX by getting there within minutes of the posting. The owner wanted $150 and a new one goes for $550. It was spotless. I got my '95 Le Tour from a guy that couldn't even tell me what model it was but, I could tell from the crummy picture it had DT shifters so it was worth a shot. Got that one for $70.00. I wouldn't sell that one now for $350.00.
<off topic>
BTW Bill, I saw your Voyageur that you posted on another thread. It made me wanna run out and get one myself. Very, very nice bike. I had a chance to buy a mint one with a Dura-Ace crankset from a guy in Livonia for $260.00 and I passed on it. Big mistake on my part. Your postings are very thoughtful and intelligent. Kudos to you.
10-10-09, 10:34 PM
#53
Dolce far niente
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I used to have a job where I traveled a lot locally, in the greater SF Bay Area. While driving from site to site, I'd stop at thrift stores along the way. Had a lot of good fishing in those days, with no expenditure of personal/leisure time.
Jobs change, and I don't cruise the thrifts like I used to. But there was a time when I was pulling nice bikes out of the piles in three's and four's for $5/ea. That was before the secondary used bike "boom" of a couple years ago. Then, I was one of the few looking. Now, everyone is looking. One yard manager told me that the same folks come back 3-4 times a day checking.
I can't be a yard vulture like that - I have to work for a living.
Jobs change, and I don't cruise the thrifts like I used to. But there was a time when I was pulling nice bikes out of the piles in three's and four's for $5/ea. That was before the secondary used bike "boom" of a couple years ago. Then, I was one of the few looking. Now, everyone is looking. One yard manager told me that the same folks come back 3-4 times a day checking.
I can't be a yard vulture like that - I have to work for a living.
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10-11-09, 09:57 AM
#54
Reeks of aged cotton duck
Join Date: Oct 2007
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I'm with BigBossMan on this one... I have a job to go to, so I can't spend hour upon hour scouring the thrift stores for bikes. I just keep an eye out for deals in the places that I regularly check in on.
I must say that CL and eBay have changed the way I look for bargains. I have been into many hobbies over the years, and I cruise the flea markets and thrift stores with a trained eye for things that I am familiar with and that I know that I can flip. And I'll flip nearly anything that I know will make a few bucks... not just bicycles.
For example, I'm a former cigar smoker... consequently I know a lot about humidors. Cruising an Atlanta thrift store this week, I came across a beautiful hand built oak and cedar humidor. I recognized the quality... someone paid a LOT of money to have this box custom built. I would estimate that it prolly cost $400-$500 to have built. I bought it for $35 and it will be hitting eBay soon. I'll easily quadruple my money on it.
It's the same strategy for bikes around here. I look for bikes that people are selling for low prices that I can flip quickly. I don't put a lot of time or money into bikes that I'm looking to sell. But I don't buy anything that needs extensive work either. I usually try to buy it, clean it, and flip it quickly. I really just use flips to finance my keepers... I don't look to make a living doing it. I'd starve to death.
I must say that CL and eBay have changed the way I look for bargains. I have been into many hobbies over the years, and I cruise the flea markets and thrift stores with a trained eye for things that I am familiar with and that I know that I can flip. And I'll flip nearly anything that I know will make a few bucks... not just bicycles.
For example, I'm a former cigar smoker... consequently I know a lot about humidors. Cruising an Atlanta thrift store this week, I came across a beautiful hand built oak and cedar humidor. I recognized the quality... someone paid a LOT of money to have this box custom built. I would estimate that it prolly cost $400-$500 to have built. I bought it for $35 and it will be hitting eBay soon. I'll easily quadruple my money on it.
It's the same strategy for bikes around here. I look for bikes that people are selling for low prices that I can flip quickly. I don't put a lot of time or money into bikes that I'm looking to sell. But I don't buy anything that needs extensive work either. I usually try to buy it, clean it, and flip it quickly. I really just use flips to finance my keepers... I don't look to make a living doing it. I'd starve to death.
10-11-09, 10:51 AM
#55
soonerbills
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Though I will not be quitting my day job to become a used bicycle salesman(conjuring an image of a old fat cigar chomping dude stuffing a BB full of sawdust) I believe that the effort was a success on all fronts.
1) I enjoyed a nice day doing something I like
2) I learned more about old Schwinn's
3) I brought back to life a nice bike
4) I gave a new owner a smile
5) I doubled my money
So as a business, no I won't Rockerfellering anytime soon...but as a hobby it more than pays for it's self. The pluses more than out weighs the negs.
1) I enjoyed a nice day doing something I like
2) I learned more about old Schwinn's
3) I brought back to life a nice bike
4) I gave a new owner a smile
5) I doubled my money
So as a business, no I won't Rockerfellering anytime soon...but as a hobby it more than pays for it's self. The pluses more than out weighs the negs.
10-11-09, 01:51 PM
#56
Thrifty Bill
Join Date: Jan 2008
Location: Mountains of Western NC
Posts: 23,553
Bikes: 86 Katakura Silk, 87 Prologue X2, 88 Cimarron LE, 1975 Sekai 4000 Professional, 73 Paramount, plus more
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I must say that CL and eBay have changed the way I look for bargains. I have been into many hobbies over the years, and I cruise the flea markets and thrift stores with a trained eye for things that I am familiar with and that I know that I can flip. And I'll flip nearly anything that I know will make a few bucks... not just bicycles.
For example, I'm a former cigar smoker... consequently I know a lot about humidors. Cruising an Atlanta thrift store this week, I came across a beautiful hand built oak and cedar humidor. I recognized the quality... someone paid a LOT of money to have this box custom built. I would estimate that it prolly cost $400-$500 to have built. I bought it for $35 and it will be hitting eBay soon. I'll easily quadruple my money on it.
+1 A hobby that can be self funding, but not a business. You could make more handing out carts at Walmart.
