Friday, March 5, 2010
....and people are crazy !
Here is an awesome flip I made last yard sale season. It reminds me of that country song, "God is great, beer is good.....AND PEOPLE ARE CRAZY!" I found this metal detector at a very well kept, landscaped house. Entering the garage, I noted lots of interesting "country, primitive" decorative things which the wife was selling. She seemed to like to collect antiques, but priced them way too high for a garage sale. When I see overpriced "antiques" at a yard sale, I begin to look for the exit. I am there to score a deal that I can flip, not decorate my house.
So as I was getting ready to retreat to my truck, I noticed hubby had some stuff for sale too. The husband was a different story, he lacked the high price attitude and just wanted to get junk out of his garage...my kind of guy! I spotted this metal detector he had for sale. It looked brand new with not a smudge on it. I asked the husband what he wanted for it and he quoted me a price of $50 dollars. The husband explained that he paid $175 for the metal detector back in the Spring. He went on to tell me he bought it for one reason: he needed to locate some metal sprinkler heads buried in his front lawn. Once he found them, he stored away the metal detector and never used it again! In retrospect, it seemed like a dumb way to blow $175 bucks, but I was buying into the story since the thing was so pristine. However, always being a skeptic, I told him I would think about it and I actually put the metal detector down and walked back to my truck. Once inside my truckster, I feverishly whipped out my Blackberry and began researching prices of this metal detector on Ebay. I quickly discovered he was selling a high end detector that should easily net $100 or more.
I popped back out of my truck with cash ready! Now once you're ready to buy, it never hurts to low ball your seller! You're going to buy it anyway, right? Why not throw out a low offer? I picked up the metal detector and went over to the husband, "Would you take $25 for it?" To my amazement he had no problem with that and gave me a quick, "sure!"
Once back at home base, I briefly thought about keeping this awesome detector for my son. But we have one already, and if I kept every item I took a fancy to I'd never make any money. So I posted it on Ebay and sure enough, it was a home run! My $25 dollar investment closed at $110 bucks!
A flip like that is out there nearly every Saturday morning-you just have to go out and find it. Like the song says, "...People are crazy!"
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