gorideabicycle

I've been flipping bikes for years as a hobby, and to fund my cycling obsession... It certainly takes time to find out what bikes are worth your time, and at what price point.

Often I will buy a bicycle just to harvest the parts and sell on eBay. If you are able to identify the components from the photos in the listing, you can search them on eBay and narrow the results to only "Sold Items". That way you can see past selling data and get an estimate of worth.

Just browse Craigslist every day, make a couple buys, and learn from mistakes! That's how I learned to wrench on bikes six years ago.

alexihnen 

I’ve recently started looking at local listings and found some relative bargains. Sweet spot seems to be bikes that aren’t rare, but popular 80s-90s bikes in great shape. They’re old enough to have people nostalgic for them, but never big money - think carbon tube/lugged frames, Shimano Sante bikes, etc. I’m sure I’ll be back here for advice now and again.

Nahuel_B58

Found this one listed for about 30 dollars, does anyone know which model it is? I'm thinking it could be an Agressor. Owner says it's made of alluminium but it seems like it's steel. Needs some bar handle's, new seat and front tyre is flat. It seems to have the original shifters/brakes.

jdawginsc 

Very cool function I never knew about!

GVH

Doing the same

Binky

I posted this in Appraisals and now realize that it should have gone here.
From some of the replies and postings in that Forum it appears that my experience was not unique.
The same sort of thing has happened to a few other veteran flippers elsewhere so its not just Toronto !

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Seller BEWARE:
If you are selling a bike in Toronto please read this. I live about 50k (32 miles) east of Toronto. A little while ago a guy replied to an ad I had on CL or Kijiji for a decent Italian road bike I had for sale. He took it around the block for a test ride and brought it back with the chain jumping erratically off the rear sprockets and the rear derailleur banging. He insisted that he still wanted to buy the bike.... but at a drastically reduced price. I was suspicious because I had ridden the bike before he arrived and it was OK then.

I checked the chain and found that two or three of the pins had been pushed partially through the chain with a chain tool, enough to foul on the next bigger sprocket in the cassette. He told me I was pretty smart to catch that and that he can usually knock about 1/3 of the asked price off a bike with that trick !!.
I got the impression that he buys a lot of good used bikes around Ontario and maybe even further afield to re-sell in Toronto but I do not know the name of his shop or business (and even if I did I would not post it here because it would be his word against mine).

After I caught the problem and fixed it he offered full price but I did not sell him the bike.
He had a couple of bikes in his vehicle already and left my place without the bike - probably to "check out" more bikes in the area.

Binky

noglider 

Jeez, never heard of that scam!

gorideabicycle

Wow! Thanks for the heads up. I'll keep my eye out for that scam in the Seattle area.

kross57

After flipping bikes for a year, I can make a few observations. Remember, most of my bikes are what I would call mid-level or upper low level bikes like Peugeot, Motobecane, Fuji, Nishiki, Univega, Miyata, Trek, and a few Schwinns, mostly from the 80s.

My biggest market is people looking for a decent road bike without spending a ton of money. They aren't all that interested in the "vintage" aspect. The sweet spot seems to be bikes in the $150-$185 range. Very few sell for more than $200. These folks want a bike that is road ready, not a fixer-upper. Clean and functioning well. On average, I tend to double my money on these bikes by buying ones with good bones for a low price, that just need a few basic items. I also buy a few parts bikes, either to part out or for use fixing up another bike.

Bikes that sell for more than $200 tend to sit a looooong time, at least for me. It's a small market of afficionadoes that wants them. And I suspect that market will continue to get smaller.

Just my 2 cents.

wrk101

I’ve been flipping for about 15 years. In the first year or two, I didn’t have the tools and expertise to go a great job. So it was find a decent bike for $10, adjust dérailleurs and brakes, true a wheel and sell it for $125. I rolled the profits into tools and better bikes in the family fleet.

A few years later I was doing much better work. Find a neglected but good bike for $25, year it down, put $50 into consumables and sell for $200 to $250. Over the years. The projects cost more, while the selling prices have dropped. It’s now gotten to the point that I can sell two or three parts for what I can get for the complete bike.

Now with rare exceptions its all about selling parts and purging the more basic stuff. I’m actually making just as much but it’s parts, parts, parts. I’ve gone from selling 50 bikes a year to selling five, and making up the difference in parts.

One side benefit is not having to deal with tire kickers!

TugaDude

I haven't sold a bike for a while now, but when I was active it was really only to support my bike habit. My wife said she didn't mind losing some garage space, but that she wasn't keen on me dipping into our savings to buy bikes that aren't used regularly. So I went about choosing bikes from Craigslist mainly that were decent brands and reasonably cheap. I got pretty good at calculating what it would cost to get road worthy and how much I could get for them when finished. If it wasn't going to pan out, I looked for another target bike. Sometimes it was a bike that I bought for myself, fixed up and then decided I didn't want after all. I didn't ever hit many home runs. Probably my best profit-to-investment ratio was a Schwinn LeTour Luxe bought for $65 and sold for $250. That was enough profit to buy a couple more bikes and then I sold them, etc., etc.

So in the end, bikes have been a self-sustaining hobby. I'm actually going to downsize really soon. Life brings changes, passions are somewhat fleeting and it is time to thin the herd.

Database82

I only just started browsing facebook market place for deals and found some great deals there. I was wondering about flipping bikes and parts, how far would you travel for bargains? I sometimes see pretty nice bikes listed 2 hours a way and think about making the trip to pick them up. I got my Bianchi Volpe as part of a flip and trade

TugaDude

The beauty of technology is that you can "see" the bike before you get into your car. Don't be shy about asking for more photos. Most people don't mind. Be aware also that if you are unsure about the size of the bike it is probably because the owner doesn't know either.
We think that everyone understands bikes and the truth is, very few do. They think there are two kinds of bikes, kids and adults. They don't really understand that there are sometimes 5 or more sizes of the same bike. They also don't understand how to measure, so you have to walk them through it. I often would text or email the owner a pic that demonstrates how to properly measure the frame.

Many bike owners think you measure the bike by the size of the wheels. So it really is a chore sometimes to get good information. Some people can't be bothered, so unless you like wild goose chases, let them pass.

Only you know what your time is worth. If you are doing this to make extra money then you really do need to adopt a "ruthless" attitude. It is common knowledge that one of the things that helps sell cars is that "new car smell". It is also common to see a bike and want it so bad that you end up paying way too much for it. Remember that you need to allow for your time, materials and a profit in order for it to be worthwhile. If you invest too much into it, you'll get upside-down quickly and it will be an exercise in futility. So be prepared to walk away.

Depending on the person, you can oftentimes reason with them. If the tubes and tires are shot, just inform them that you'll have at least $50 to $60 to invest just to get it on the road. And that is if you buy the cheapest tires. There is also the maintenance. If their bike has been hanging for decades it will need a complete overhaul and that comes at a price. So be reasonable but honest. Be prepared to discuss comparable bikes. Some folks think their bike is a "race bike" because it says Tour De France on it. Politely educate them.

When you go look at the target bike, make sure to bring tools. Check the stem and seat post to make sure they aren't stuck. Also, keep your eyes peeled. I once went to look at a Fuji mountain bike that was on Craigslist and noticed a Schwinn Paramount MTB hanging in the rafters of the garage under a film of dust. I asked about it, whether it might be for sale too. The guy said, "Oh, that old thing. My son left it here when he went to college. He doesn't want it anymore." He got it down and we wiped it off a bit. At first I thought the pain was shot because it looked cracked. I didn't know it was a "spider web" paint job that Schwinn used on some of these Paramounts. Turns out it was flawless, not a single scratch, components pristine, etc. I offered $50.00 and he took it. Sold it for around $200.00 and invested nothing but time into it. Just lubed everything up and a thorough cleaning is all.

My last advice is to read and re-read posts by the successful flippers on here. Folks like WRK101 know their business! Listen especially to what Bill says about selling on eBay. He has some of the best, most practical suggestions I have heard. One thing Bill has talked about is hunting for bikes while on trips. Sometimes you can find some real gems when you are out of your hometown.

So good luck, have fun and I hope it enriches your love for bikes if not your wallet.

Database82

Thanks for the pointers! I was really lucky with the Volpe, the seller provider a lot of pics and the bike was in really great shape no rust or frame damage just some chipped paint. I originally talked him down to $240 from the $300 asking price, but he jumped on the Spinergy Xarero Lites when I offered up the wheels as a trade. So I'm not sure who made out better, probably him, but I can't complain I only paid $90 for the wheelset. Though in the end I got the frame that I really wanted

I was definitely thinking about doing this as a way to make a few extra bucks, I've noticed a lot of people in the South Jersey area selling Bianchi's and Specialized bikes for around the low $100 range, The idea was to bring them into the city to flip them since bikes are in higher demand in the city I live in. So I'll definitely have to go through and see what a good price is for some of these.

wrk101

People often complain about being in a hot market. But for flipping, living in a hot market is best. As you have found out, you can source bikes in markets that are not as hot, and sell them in your home area. Friends and family in other areas, along with vacations and road trips can all yield deals on bikes. Unfortunately, I live in a soft market, which is great for finding bikes but lousy for selling them. As far as your trade, you traded someone you didn't want for something of value you did want. Sounds good to me. And you offered them up. The time to ponder trades is before you offer them up. I wouldn't sweat it. And selling wheels can be a PITA.

Database82

Thanks Bill, that's good to know. I did see the price of the wheelset new was somewhere around $700, but I had no intention of using them, I only picked them up because the seller had them at such a low price. I didn't realize it's that much of a pain to sell wheels, I've seen quite a few posted in my parents' neck of the woods that I considered picking up a set for an eventual single speed conversion. Maybe I can haggle down the Velocity's I've been eyeballing

Ngrandin

Why not if you doing that right and dont sell crazy price...

kross57

I don't know what your opinion is, but I have a feeling the coronavirus is going to have a dramatic negative impact on bike flipping sales.

curbtender

How about "Skip mass transit and stay out of the gym, ride a bike"?

kross57

Yeah, in the cities that might be the case. But not in the 'burbs.

bdspeedy

Seems like it's having an effect on a lot of discretionary spending.

noglider 

Bike shops in NYC are seeing a doubling of their normal business. Bikes surely are in demand, but people don't have as much cash as before, so I don't know what the effect on used bike prices will be.

ramzilla

It's so challenging to ride in the Atlanta environment of traffic and hills that most everybody that moves here gives up and sells their old bike. Vintage bikes are plentiful and cheap in Atlanta. I'd love to bring a trailer load of these low cost bikes from the Atlanta market to a high cost market like NYC or Boston or Philadelphia. Yeah, I know. WIth the slim margins on old bikes it would all be for little reward.

kross57

Lately, it's been a good news / bad news scenario around here. On the down side, almost everything for sale is junk, overpriced, or overpriced junk. The good news is, if you have a decent bike and offer it at a fair price, it will sell quickly.

ckter

Not the case here in Melbourne. Bike shops are doing a roaring trade and very quick to sell used bikes.