SteveSGP

I just got into flipping this year after rebuilding my own bike and finding out I really enjoy doing it and (I think) I'm pretty good at it.

I don't always do a complete disassembly but everything gets cleaned, greased and anything requiring replacement gets replaced, I won't sell a bike that's not 100% functional and rideable. If the bike is nice enough to justify a bare frame tear down I do it, it's not like it's all that hard to do.

I think I sold about 15 bikes this year and I've got about a dozen or so in line right now, I'm currently finishing a nice old tall frame blue Uo8 and I'll be tearing into a white Uo8 right after that.

I've found that I really enjoy working on road bikes, couldn't care less about mountain bikes and I don't know anything about three speeds so I stay away.

Just keep watching Craigslist, One thing to try is to just search bikes by brand from the main page because a lot of garage salers just mention the bike in their garage sale add and don't post it in the bike section, I found a gorgeous little 1984 Peugeot that way and picked it up for $30.00.

noglider 

I've occasionally thought that it would pay to drive to a low-price area to buy and drive to a high-price area to sell. I did the arithmetic, and it didn't work out, with all the time and gas. And I'm pretty close to both types of places. The NJ/PA border shows some pretty low prices on craigslist. And I'm very close to NYC where prices are extremely high. But I'd really have to hustle to make it work.

4Rings6Stars

ahh the old Michigan bottle deposit dilemma...

I have actually made this scheme work...but I have an advantage. My parents live in a very low price market (rural central MA) and I live in Boston. I scoop up and store bikes at their place and in the spring sell them here in the city. Makes for a good income supplement for a college student.

curbtender

Took this picture after unloading a haul from Hastings College. All abandoned bikes after the semester. I never counted how many.

Wisco

Actually, that can work--depending on one's proximity to Michigan. Did it a couple times in high school to raise fun money. Hit the recycling bins at a bar or two, load friend's van, drive to the Michigan line. We were literally swimming in cans though. Probably spent about $100 on gas, made $500.

spathfinder3408

I try to limit my investment price to no more then about one third of the value of what I think I can sell the bike for. I take into account what I would have to buy such as tires, bar tape
ect. for my investment. I figure my time is sweat equity, so if I have to spend 4 or 5 hours to get the bike in good shape, its no lost money, just my time. Most of the time I come out with at least doubling my profit and sometimes more. As I learn, Patience waiting for the right bike and the right deal it key. Don't rush into a bike that needs tons of work and buy a bike that you would like to own youself. That will keep you from buying something you get stuck with or have to reduce the price so much that it would not be worth your time. The most I have ever invested in a bike is $100, but I try not to do that very often. I have only had one true high end racing bike and that was given to me by a friend. When I feel a little more confindent with knowledge of high end bikes I may venture into investing in them when i know what I'm buying. Right now I am into mostly road bikes from the 80's and 90's .

noglider 

I learned from other bike flippers here to aim for at least $100 profit on a bike. It has helped me a lot, because I've begun turning down opportunities to buy some bikes and accept some free bikes.

spathfinder3408

Thats a good goal. $100 is a $100. Sometime the bike market slows up or it hard to find bikes at a good deal, so you need to be flexable, so you can still make a buck. I figure making a buck when times are slow is better then making no bucks. When times are good, you'll make up the difference.

NightShift

I think a guide should include a basic code of ethics (never sell a bike that isn't safe should be obvious, levels of disclosure could have a lot more gray areas) and advice on what to check before buying, and how much to fix before selling.

I'm not exactly a "flipper". Between the wife and I we have 6 bikes that we regard as keepers. We're fairly frugal, but we each have at least one more bike in mind (and probably always will .
I don't put much energy into looking for deals, but I do keep an eye out. On several occasions I found it cheaper to buy a full bike to get a part or several than to buy just the parts. Right now I have three "parts" bikes.
When I have free time I strip any parts I think I may want for are riders in the future (in additional to whatever parts I was originally seeking) off the parts bike. Then I see if I have enough left between them to make a safe complete bike.

I did buy one mid '90s GT Timberline that turned out to be just a little to tall for me. I sold that one for just over $100 more than I paid, not counting shifters, cables, housings, grease, lube, and time.

I have had two Walmart Mongoose bikes and a Murray.
The Murray I gave away (not much of a business model, but, as I told the recipient, the tires had very little life left, and by the time I bought new 26x1 3/8 tires I couldn't see any real profit in selling it. It did however provide a better wheelset and a rack for my Foremost at less than $20.

The two Walmart bikes I actually traded to flippers for other bikes. I can't say how much less than $20 the parts off the Murray cost me, because I received it in trade for a Mongoose I paid $20 for and trade the grips, shifters, and wheels off of (the wheels are actually decent cheap wheels, but it was a higher end Walmart bike, and they aren't anything special, just not bad).

Normal I don't buy anything below entry level LBS/sporting goods store level, but my standard is based on what has parts I want, not on original sale price, resell value or culture. One notable exception is Motiv. As I understand it Motiv is (was?) a Costco store brand, but I've seen them with Shimano Acera, Alivio, and Exage 300, decent wheels, and Chrome Moly frames; maybe not world class, but they've made some bikes I'd be happy to ride.

I used to commute on a Walmart Next. I actually didn't have any serious problems with it for over a year. When it did fail (just over one year) it failed in a spectacular, potentially life threatening manner. The pedal spindle broke (I'm 280lb, even with gentle use I'm suprised they lasted that long), the crank arm the pedal had been attached to bent (WTF!), and when I suddenly jolted against the handlebars and stem shattered. If I receive on of these free I'll happily turn it in as scrap metal to ensure no one tries to ride it. To be honest I don't think any part of those bikes is worth salvaging. Not even the tires and tubes (I had replaced these on mine).

Not counting the bikes I bought before I started wrenching (all three of which have since been stolen) I have about $200 invested in bikes. Not bad for six bikes, including an electric. Flipping may not make me any money, but it has greatly offset my bike spending.

noglider 

Your story about the Next makes me angry. Sometimes, I wish we could pass laws about minimum quality.

NightShift

Actually I'm certain there are some laws about minimum quality, and I'll even bet the parts on cheap bike shaped objects are generally spec'ed above the minimum standard. I would also bet there are companies that view legal fees as the quality control check on the products they sell.

"No lawsuits over the stems from that supplier? Good, order more. Stress test? Why bother?"

noglider 

I guess, but clearly, the inspections etc aren't thorough. I just worked on a Mongoose where the brakes were so bad that not only did they not work, but they COULD not work. It's infuriating. It's mind blowing.

(I do repairs etc for neighbors. This bike is owned by my wife's student. My wife teaches piano and voice to children and adults.)

NightShift

It might be worth putting together a list of bike NOT to resell (or donate) as anything but scrap metal.

Off the top of my head
Next
Vertical/Triax (although I might grab shifters and derailers for a different cheap bike)

I don't know any other brands that I avoid across the board, but I'm sure there are plenty I just haven't encountered.

I won't sell any elastomer fork where the fork is held together by a plastic cap.
I won't sell any frame with pressed drop-outs.

noglider 

Huffy
Murray
any Columbia made after 1960-something
some Mongooses (Mongeese?) but not all

NightShift

Mongoose is part of Pacific now, along with Schwinn, GT, Roadmaster, and probably a few others.
I treat them all with equal skepticism, but some of them are better off as bikes than as scrap metal. I'd still rather have a bike from any one of these brands from before they were bought by Pacific the one from after.

Despite the fact that my wife owns (and sometimes rides) a Huffy (childhood nostalgia) I would agree.

I'm not sure I would be as harsh towards Murray. Do you regard Murray as simply to low a quality to bother with, or genuinely unsafe? If you regard them as unsafe please share your experience and observations.

I have a J.C. Penny's Foremost (I think mid to late 70s with a shimano Lark II rear der.) that I've been using as a beater bike for a couple years. I believe these bikes were produced by Murray. Does anyone know for sure if that's correct?

SteveSGP

So how did that work? Do you know someone, do they have an auction? I'm in a big college area here and had never thought of this.

curbtender

A friend was doing some work there and the maint. engineer had them piled up in a storage room. He said that there were two piles of bikes. That pile was being dumped. I never saw the second pile. So, I guess if I were you I'd start with talking to someone in maintenance.

noglider 

I just found out that a town near me with lots of wealthy people have bulk trash pickup once a month. They leave their stuff on the curb. The guy who told me this said that he's even seen people put out furniture in bubble wrap, since they know it will be picked up. Weird.

He says that on any given such night, you can get a dozen bikes.

SteveSGP

NightShift

I don't think you understood what the purpose of the list I was suggesting would be.

Many of us would accept a free bike, or purchase a very cheap bike, for parts, even if the bike itself had little or no resale value. We might build it up and give it away, trade it for other parts, or donate it to a bicycle co-op after talking the parts we were after. But there are some bikes that should not be ridden, bikes that pose an unacceptable risk to the rider. You don't donate cables that you know are likely to break, brakes that won't stop a bike, a stem that cracks under normal use, a frame where the drop-outs may pull out while you're riding, or anything else you have reason to believe is inherently unsafe.

I count Next and Vertical as inherently unsafe. I've seen enough Huffy's that were just as bad that I will gladly avoid them, even if they're free.
I don't consider Murray as bad, but that may just be because I don't have as much knowledge and experience with whatever issues they have.
I know almost nothing about modern/semi-modern Columbias, but after Tom's post I will be extremely cautious about accepting one should I encounter one.

I remember hearing about a brand of bike that had been a give away item with the purchase of stereo equipment, because the importer found out they didn't meet the safety standards to be sold in the USA, but it was still legal to give them away (if someone remembers the brand please post, I've forgotten).

If you know a product that should be avoided, even if it's free, that's what I'm asking about.

zandoval 

This looks like allot of fun - And much cheaper and rewarding than flipping a house - My favorite people are ones that have a deeper appreciation of the care taken in restoring and older bike with safety as a prime consideration...

oldroads

I’m as far from being a bike snob as anyone could be. But there are some bikes I will not purchase to sell in my used bike shop.
The 2 big ones are:
- Any department store bike (like Next)
- Any lower-end bikes with cables routed through the frame, for example old steel Columbias. I’ve seen the frames break at the cable holes in the down tube.

septacycles

While I do not buy cheap bikes such as next, murry, huffy, or magna individually... I often get them as part of wholesale bike loads I buy at auction. I usually will buy a bulk lot if there are a few good bikes in it. The cheap ones I keep around for parts and a few times a year I sell them individually at a local action house or on craigslist as a lot of 5 to 10 bike. I do not put any time into fixing them beyond seperating the ones that are ridable vs. once are only good for parts or scarp. I'm a firm believer in quality products but not everyone can afford quality and sometime people need a $25 to $50 bike just to get them around.

noglider 

How do you find auctions that have lots of bikes?

Chris Chicago

i bought a trek mtb from a guy who did the auction thing. said he buy them sight unseen in lots of 200. he had a lot of next/magna stuff but random 830s or hard rocks mixed in. sells everything for a hundred or less. stuff that needs repairs he sells cheap. always wondered where the auctions were.

here's his current inventory.
https://s336.photobucket.com/albums/n354/WOODRACER25/

looks like he does have some priced higher than i remember