Your opinion on flipping guitars?

[SirRolfe]

Honest opinions on flipping guitars and other musical equipment to earn a little extra money on the side?

I'm considering it since I'm a poor college student completely dependent on my parents

[Nev375]

Use straplocks.

[guy n. cognito]

Given how slowly musical equipment is moving on the forums and ebay right now, you would have to buy at EXTREMELY low prices to actually make any money.

[hrodbert696]

I don't think it's likely to work as a way to get income. You buy a beat up Squier for $50 or $100, put $200 in mods into it and fix it up, but when you put it up on craigslist or ebay, as far as anyone's concerned it's still a used Squier and they'll give you $150 for it if you're lucky. You're better off just gigging for side money.

Once in a while you can do a little better. I've had (without any modding or flipping) a couple of times I came out slightly ahead in CL deals, like a time a guy sold me an MIM P-bass for $250 and threw in his DI box, I later resold the bass for $250 and kept the DI so I basically got the box for free. But I wouldn't count on being able to actually make money doing it.

[jimmydean]

If done correctly,you can make some good money. Number one,are there one or two stores that buy used gear near you and at good prices? Two, I would try to get my hands on Squire guitars and basses,but you should only pay $50 for a guitar and $50-$100 for a bass.In most markets if the store is honest will sell a used squire guitar for$129 and a bass for $199. You'll make more cash on the basses and if you know how to "relic" you might make a few extra bucks.If you can get your hands on better gear ceap....Great! The Squire stuff sells really fast depending on the market your in,but I don't see why you can't make decent money,but the key is getting the gear cheap and dealing with a store that won't screw you.

[jimmydean]

Stay away from Ebay and Craigslist,only sell directly to a music store

[St Drogo]

No real experience here, but i'd say that won't work without you altering (modding, upgrading or simply cleaning up) the instrument, or sell it in a different place than the one you bought it. If you don't, you'd be had pressed to turn a profit and lucky to break even. Not sure that's worth your while...

[Phendyr_Loon]

It can certainly be done. But as Guy n. said, the turn-over with gear on CL and the 'Bay has slowed down so your profit margin may be thinner than expepted on each sale.
IME, you'll need the build some overhead, $1000 in cash will get you wheelin' and dealin' basses of moderate value.
Also you'll need to stay up on what's what as far as price points for the value of different models of makes. That sort of goes without saying, but if all you're doing is breaking even it's hardly worth your time at all.

[Jim Nazium]

Originally Posted by jimmydean

Stay away from Ebay and Craigslist,only sell directly to a music store

Really? That's exactly the opposite of what I would suggest. The music store is only going to pay roughly half what they can sell it for.

[waleross]

+1 on the fact that stuff is not moving right now. I have 2 items for sale on CL at great prices and after a week no bites...................Also Squires either guitars or basses are considered entry level.

[Kwesi]

Originally Posted by jimmydean

Stay away from Ebay and Craigslist,only sell directly to a music store

Absolutely do not listen to this guy. Anyway, flipping gear is a good idea if you are knowledgeable and diligent. The latter is something that I am not which is why I don't, lol.

[bolophonic]

Get a job instead. Now is not a great time to be selling anything.

[Never_grew_up]

I don't know that you can make a lot of $ doing it, but it's possible to make some, or at least to have/play/sell a lot of gear for not a lot of $. +1 on having a bankroll to get started, $500 - $1000. Start scoping pawnshops to figure out which ones in your area see musical instrument traffic and are willing to deal. You'll also have to look at what you want to buy as a commodity item - don't get too attached to anything, be willing to sell any gear you have or you could end up the musical instrument equivalent of the crazy people on Hoarders. Found crushed to death in your apartment with a stack of 50 pink Squier Strats on your head.

[JTFormula]

It works just like a car dealer would. Buy for wholesale, then flip for retail. If a Squire is worth $125 used, buy it for $50-70. Sell it, double your money move onto the next. MiM Fender Jazz for $325? Pay $150-200.

Put an add up that says "I buy guitars" on CL. People will contact you. If they need money fast, they will take the low offer. For some people, that little bit of money may make the difference between making rent or putting food on the table. 80% of the people who contact you will want full blown retail and wont budge but its the other 20% that will make you the money.

The guy I got my Jazz from does it on a regular basis and even bought a few guitars from a store that had them hanging on the wall for years and couldn't sell them. He took them and had them sold in a matter of weeks. If you know what you are looking at and have good negotiation skills, you will earn a few extra $$ that you need.

I do the same thing but deal in larger ticket items. Mainly motorcycles and cars but I'll buy anything I can make money on. Good luck to you.

[OldDog52]

Originally Posted by jimmydean

Stay away from Ebay and Craigslist,only sell directly to a music store

Just kind of scanning through this thread, saw this comment. Say what? If you're selling to a music store, you're selling at wholesale. The idea is to get retail (or more) if you're flipping anything.

[bongomania]

Yeah I have to say that advice was so absurd that I have to imagine jimmydean is a flipper that was trying to foul up his potential competition.

[DWBass]

It can work but it's slow money. In fact, there's a member here who does this on the regular!

[i_got_a_mohawk]

What about starting up a wee business making pickups?

I don't know where you are, but I know quite a few small companies (generally single person) that are used as a side source of income.

[oniman7]

My friend's dad is a long time musician. I'm pretty sure he has at least a semi-regular job, but he flips guitars for a source of money. Her house is always filled with guitars. He makes decent money and flips even vintage Gibson and Fender stuff from time to time, but every free weekend, they're driving to Orlando or Tampa (round trips of 3 to 8 hours) to go pick up or drop off a guitar he's buying or selling. They're always busy with it. But they've always got a little extra money and he's always got tons of guitars to play.

[pica]

I just paid $275 for a Fender Bass and sold it for $375. Doesn't bother me one bit.