Take this vintage bike for example. About a month ago,
|Sears bike before...|
When you’ve been at this game as long as I have, you develop a few “clients” who can be easy go-to buyers. One of my clients is a guy named Tony-a retiree who likes to restore and flip old bikes. Tony is a great guy and really knows his stuff when it comes to vintage bikes. Once I got the bike home, I immediately texted him to see if he’d be interested in buying it. It took a few hours for Tony to get back to me, but by late afternoon he was pulling up to my house to check out the bike. Slowly walking up my driveway, he apologized for not responding to my text right away. He explained he’d been enjoying a nice, mid-afternoon power nap. Now fully refreshed, Tony gave my bike his professional evaluation. Right off the bat, he told me he was not a buyer. He sheepishly admitted that at the behest of his wife, he was not looking to add any more bikes to his extensive inventory. Instead, he suggested I clean up the bike myself and flip it. He gave me a few tips, suggesting I remove the basket from the handlebars and clean up all the chrome with some steel wool (SOS). With his encouragement, I agreed to give it a shot. We shook hands and Tony reminded me to send him pictures once I had cleaned the bike up.
It took a few weeks, but on a nice hot summer day I
pulled out the garden hose and went to work on the bike. After applying the SOS steel wool pad to the rims and handlebars, the old bike’s chrome began to shine. I then stole dishwashing liquid off of Mrs. Dude’s kitchen sink to gently wash the bike frame. In less then an hour I had the bike sparkling! With some extra effort and time, I could have even applied some car wax to the bike frame. But it was pretty hot outside, so I decided to pass on the extra work involved with a “Wax-on...Wax-off” process. Besides, the bike was looking good with just an hour of effort. I texted a few photos of my handiwork to Tony and he agreed! The bike was now ready for re-sale. I then rode the bike over to a local school field for a photo shoot. It was beautiful sunny day and the photos of the now-cleaned up bike really popped against the green grass and blue sky! Excited to see how my restoration would do, I posted the bike on Craigslist for $125 dollars. Two days later, I had a buyer in my driveway admiring the old bike. After some negotiating, I agreed to take $100 bucks for the bike. While I was hoping to get more, I always believe in the old "a bird in the hand is better then two in the bush” adage. But my profits were not limited to the bike sale alone! I later sold the original metal basket for five bucks on Facebook. Lastly, the original bike warranty papers are on target to net me around $30 dollars on eBay! Taken together, I made over a $100 dollar profit and brought a dusty old bike back to life! That’s what makes this business so much fun!
|That’s one ugly bike!|
How’s your sales going? Flip any bikes or other modes of transportation for fun and profits? Share your story in the comment section below!
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