cudak888 

There's no money in it anymore where I am.

My approach:

• Get it anywhere from free (trash) to $15.
• Fix it up if you can.
• If you can't, harvest it for every last good part on it.
• Dual-suspension Wal-Mart level stuff is always parted out - usually the wheels and brakes are the only bits to survive.
• Invest in those big rolls of SunLite brake and shifter cables. Yes, eat the cost.
• Fix the bikes. Any Wal-Mart level stuff gets reduced to a singlespeed - always remember to harvest shot BMX bikes for the singlespeed freewheel and any square taper single-ring cranksets.
• Give 'em away at the curb with a "Free to Good Home" sign on it. I add a flyer about protected bike lane benefits behind that.
• Flip other things to support the cost of doing this.

Twitter

-Kurt

curbtender

This^. I explain it this way...Bikes are my jigsaw puzzle. Some people spend hours piecing together a cardboard picture and then throw it back in a box. I open the garage door, pull up a chair or two, and dismantle and rebuild bikes. My table is bigger, but about the same satisfaction of finishing a project. Neighbors and friends come by and grab something out of the fridge and tell me their stories. I try to make a hundred bucks on a bike, but that doesn't always happen. I pick up a lot of bike inventory at garage sales. If you tell people what you do, a lot of accessories come out. I guess if you wanted to make it a business you'd have a lot of write offs. Too much like work, lol.

curbtender

francis1

I used to flip vintage road bikes. Tires & wheels must be good, rest is easy & cheap to fix. Build up a collection of good used parts. Avoid low end bikes & mountain bikes. Watch the ads & move fast when a good buy comes along

Retfor

I got started flipping when I had an extra wheelset from a bike that cracked. Saw a frame for sale that needed a wheel, slapped a wheel on and resold. I don't flip often, but I keep my eyes out for bikes that are underpriced and just missing the wheels or something easy and cheap to fix. I also keep an eye out for bikes out with the garbage that I can use for free parts. (Or even resell, I found one that just needed air in the tires and a couple things tightened, but was otherwise good. ) There's almost always something unanticipated wrong, but that just helps me build new skills. Every now and then I'll need to buy something, but tubes I patch and cables are cheap. Most of the rest I can cannibalize from other bikes. I'm pretty sure I've always at least made a bit on each bike, some I've made over $100. Not always "worth" the time invested, but if I've got nothing better to do anyway...

browngw 

I freely admit to not being a flipper. A successful flipper would find a valuable bike for less than $50 and not use more than a good wash, a drop or two of lube and some air for the tires. Bikes often find me, not the other way around. This past fall a neighbour came to me with a proposition. I sell his bike and he takes half and I get to keep the rest. Sounded like an easy deal, the bike was a fairly well looked after 1985 Rossi (shop brand for Scattolon Cycle) 12 speed in a 23" frame (my size!) and 27" alloy wheels. The frame was made in Japan for the Guvin /Miele company.

I couldn't do it! I realized I have never sold a bike I did not service, replace tires brakes etc. and did not want to start. I told him I would would consider it but ended up offering him $60 and he settled for that. The bike is now rebuilt and looks great but I have another $120 in it. If I'm lucky I will get my money back, if not I ride it.

Facebook marketplace prompted me to buy a 1995 Norco Katmandu MTB for $50 late last summer. It looked pretty decent but ended up costing $160 plus parts bin bits. Again, my size and now converted to a drop bar gravel bike. Maybe I wont sell it.

Also on our side is what I call "bike dollar averaging". Sometimes a bike is free (a DL1 and a Sun eg.) and sells very well and and makes money. That money can be used to keep the wheels going around. Last spring a friend had to clean up a relatives property and brought 2 PU trucks full of tarp stored bikes he had collected. Parts and five re-buildables helped the bank. Overall I have netted about $600 / year over the last 10 years. Not a living, but a tremendous amount of fun and my own "fleet of bikes".

Appearance and the sellers reputation is important to most buyers especially local ones. Many of my bikes have been purchased in parcels by Toronto buyers at bike shows so they must be valuable there.


The Rossi before picture.

The Rossi after picture.

Norco Katmandu as purchased (after a good wash)

The Norco as a drop bar gravel bike. It rides great!

browngw 

Addition: I have bought scores of SS brake and gear cables from MEC for $2.50ea, chains for $12 and saved some $$$$$$. But it looks like they are clearing all their bike related stuff.

miamijim

There's no money in flipping anymore. Maybe if your chasing $20 but its not like it was. A few years back our local supply dried up over night. Nothing. I haven't found any good bikes in years, it doesn't help that we have a couple of guys who sit around all day waiting for CL or FB keyword alerts. Then again I wasn't your average flipper, I concentrated on high bikes, Campy Record or Dura Ace only with Italian frames is where the money was. I never did it to make many but i just happened to make a lot of money doing it. It was fun while I did it but I got burned out and don't miss it. I sold everything off including some tools and recently gave away my last box of non high end parts. My high end stuff, which takes up no more space than a medium flat rate box, is waiting for me to list on eBay.

Smut peddler 

Been flipping 10 years started on local cl ads then recent years I changed the program(my personal taste changed and I wanted cool stuff and this spilled over into my flipping as well) So now it goes like this for me. Go big or go home. Gotta spend money to make money and you get out what you put in. Stalk the ads like a vulture especially eBay there’s always people selling things they unaware of what they have or just want a quick buck or vague titles not meeting buyers search terms there’s all kinds of luck out there(this can also happen on local ads too) and Seek out the rare unique desirable and boutique stuff. Buy it hoard it (you wants your parts bins to look like treasure troves) build gruppos take awesome pics put it back on eBay and be firm on price and patient, somebody will buy. I promise the profits will come in, first slowly then surely then steady. Also don’t forget to keep the real good goodies for yourself, so fun 🤩

alexihnen 

^ I’ve been lucky enough to basically do this. I really admire anyone who works hard to save a low-end bike. It’s hard work! I definitely look for higher end bikes I know will sell once I’m done riding it. So I’ve spent $1,000-$1,500 on a bike more than once, but have only done so when I know the value is there. Just one of those sales can be the same as 10 lower-end bikes, and less than 1/10 the work. I have a couple now I’ve spent more than that to acquire, but I’m confident when the time comes I’ll do well with the sale.

Trextodd87

This is EXACTLY what I am thinking during ANY discussion such as this one here.? I can't speak for everyone or even ANYONE here for that matter.. BUT I'd say that my personal free time is definitely worth SOMETHING!?$$ ( Perhaps more than I make at my day job actually!, Since it seems the spare time hours are much less readily available in most cases, compared to MANY HRS spent at day job ) So unless mistaken here, I'd bet even if a bike flipper put a factor of only $30-$40/ Hr. labor rate on their flip projects, that "PROFIT" after all is said and done/ accounted for $$$ expenses, is MINISCULE at best..

Jicafold

Well, what else are you going to do during those 2 hours while you watch "The Bachelor" with your wife? That's free time. Just turn some wrenches in the living room while you spend time with her and watch TV and rebuild some hubs and true wheels.. That's a win-win. Besides, the local bike shop only pays $10 - $12 for it's mechanics. I know...both Performance Bike and another shop offered me a job. No, I didn't take it. So I think you seriously overvalue yourself at $30 or $40.

curbtender

If it wasn't for people thinking repairing old bikes was a waste of time there wouldn't be all the freebies for those that partake.

garryg

I think of it as putting my money in the bank. I spend a bunch of money on bikes in the fall and winter, work on them and get my money back in the spring. Nobody gets hurt and i stay in the garage out of trouble,except for when i knock over the jar of parts in solvent.

gaucho777 

It's like an old friend in the wine industry used to say...How do you may a small fortune in the wine industry? Start with a big fortune.

I've made a small amount of profit on the modest number of bikes I've flipped, but making money was never the end goal. I like fixing up old bikes, finding appreciative new owners, and occasionally harvesting some quality parts for the keeper fleet. Labor cost is an investment in experience, the joy of tinkering, and a diversion from "world events." In the long run, there are better ways to make a buck.

As I see it, there are a couple routes. The first is to look for dirt-cheap bikes that won't need much, if any, replacement parts. Free-$50 is a good starting point when you consider that most bikes will need new tires, tubes, cables, housing, handlebar tape, and probably a saddle, plus a total overhaul. The second option is a nice higher-end bike that is a joy to work on, which is underpriced and can be turned into a quick profit. My problem is that that second option turns into a keeper and a money pit if its my size. If the second option is not my size, I'm not going to buy it just to sink a lot of money into it. A frame-up build is almost always a losing proposition, unless you keep it and love it. Then it's priceless, until you decide to sell it.

In my experience, the only way to truly win big is to buy to ride.

Classtime 

I'm not a flipper but whoever bought two 1992 Serotta T-Max XT equipped bikes last night from the same seller at 100 per is. I would have bought the one that fit me and told the seller to raise the price on the other😉

Trextodd87

That's a GREAT dig about watching THE BACHELOR there!.. Have only heard of that show unfortunately myself..(One of your Fave? ) I actually prefer youtube informational videos myself, typically.. I DID rebuild this old Schwinn that I found at a garage sale a while back.. And I have a couple other vintage bikes as well., that I tinker on as needed.. All my point is/ was here, is that it SEEMS hardly anyone includes or takes into consideration ANY of their actual labor ( Whether they place their approx. value at $10 or $100/Hr., when they say how much "THEY HAVE INTO A BUILD".. Unless mistaken, they only typically state their parts/ material costs.? Not how many hours were spent doing all the work. ( And $10/Hr. for an experienced Bike mechanic.??? You do realize that's below Min. wage in most states.? Here in OR for sure )

Splendidtutiona

I have bought and flipped two bikes. A third has ended up as a rider (oops).All were bought about five years ago, one was sold quickly, the other two... were covid projects if that gives you an idea of my timelines for getting them done.

1974 Schwinn Le Tour: Bought for $75, probably put about $25-$40 in cables, bearings, other parts (maybe tires? I dont remember, so maybe more than $40) and sold for $150. Made about $25-$50 for a weekend of fund fixing a bike.
1982 Peugeot P8: Bought for $80 (Waaaaayyyyyy overpaid at the time. This was a mess, "indexed" headset, bent derailleur "claw" bottom end to begin with, etc.). Was in better shape than I thought. Just needed bearings and grease in the headset, tires were serviceable, wheels were true enough (next bike mechanic skill is wheel work) etc. Sold for $150 after about 2 months of advertising on Craigslist. Made about $50.

1973 Raleigh Competition: Bought for $50. had no idea what it was at the time or what I was getting myself into. The original TA cranks gave me fits (didn't know they were 23mm) the headset gave me fits (the crown race seat is 27mm, not 26.4mm) the seat post was fused into the frame, no saddle, crappy replacement derailleurs, I decided to repaint...etc. I think I added it up and I am all in at about $350, maybe $400. Pretty sure I would struggle to get that out of the bike. I love the way it rides and I have 700x32 tires on it, so it is also kind of my winter/gravel/go everywhere bike at the moment. Great $400 spent.

So I think the story is: you basically have to find complete bikes that need minimal maintenance (cables, housing, maybe a chain, bearings. Tires eat up budgets FAST) for low prices (I think someone else mentioned $50, and I agree). It helps I am in the Balitmore/DC area. The "$100 bike" in Michigan (I grew up there ) is a "$150 bike" here. That $50 makes all the difference with my flips (so far) in losing money or making money.

You HAVE to jump at the $50 bikes if they look good. And pass on the junk.

If you can get a small stash of 27" tires for cheap ( I think schwalbes are $20 right now from a few vendors) it might be worth it if you're going to do this.

Or, you look for the special bikes and buy them when no one is looking, but that's a LOT of work!

Smiles and Happiness
Splendidutional

3alarmer 

.
...my trust fund pays me a straight hourly labor rate of $20, and I am pretty slow when I work on these things.

oddjob2

In 2020, I did not ride nor wrenched much as caregiving and financial management for my dad, building a house for resale an hour away, remodeling my 100 year old house have filled my schedule.
Covid was a bike market boon. I sold about 56 bikes in 2020 and gave away about 10 kiddie bikes. Probably 80 percent were bikes I amassed over the years. This year, my goal is to let go of about another 30 complete bikes and about 10 frames and then be able to reclaim a garage stall. Anybody know if retail supply is greater in 2021? I still have about 30 I am not willing to let go yet. During 2020 I bought a few as keepers: Schwinn Crosscut, Fuji Palisades Mixte, Peugeot Orient Express MTB, Raleigh Gran Sport.

The cost of tires and tubes at $55 +/- a set is prohibitive to flipping for fun and profit. Ninety percent of the bikes I sell are fully overhauled, about $150-$175 LBS service around here plus parts. If I can't clear $120 +/-, excluding parts, I won't buy the flip bike. I did overhaul a Raleigh International for a patient gent, who got the bike from his father, and charged him $125 for my work.

Not really looking to buy additional bikes, but couldn't resist this 1972 Raleigh Competition for $160.

browngw 

This thread got me thinking about the labour money. Roughly speaking, I am making $1-2/hour after expenses. I have been retired for 15 years and have a decent pension. A purpose, and recreation that pays for itself is, well, priceless! On top of that, I always have a bike to ride at hand. This how I describe myself on my FB page " A cycling advocate who has a passion for bringing old bicycles back to life here at One Browns Lane."
An email from a local shop is predicting another year of shortages, maybe the prices for our bikes will go up.

miamijim

Not relevant. If you have nothing else to do what difference does it matter? Spare time is free, it has cost.

miamijim

Exactly. How many hobbies are free? Not many.

garryg

Funny thing about the selling part. I did not think i would enjoy it but i do.. People come over to look at a bike,they get to listen to me talk bikes for an hour,they learn a bunch and if i the bike fits them i might sell it to them. If i do not think the bike is right for them i talk them out of buying it.

SurferRosa

I've done this a couple times. I remember a guy was returning to night school and wanted to lock up the bike outside the college. But it had Nuovo Record on it. I talked him out of locking it up anywhere. A secure bike with vintage Campy is more important than any sale.