Do you buy and sell for profit?

[Peter - Oregon]

I have a couple of acquaintances that buy and resell things online for profit. For a while now I have wondered how that works out for bass equipment. I imagine it works best for those that are good at modding? Do you search for undervalued things and simply resell them? Do you feel your efforts have been worth your time? Any great successes you would like to share?

 

[Beej]

Well, that's my goal! But, to answer honestly, no.

 

[bholder]

In Theory, yes. In Practice, no. In Theory, Theory and Practice are identical. In Practice, however, they are not.

 

[Mighty Thumb]

No

 

[ddnidd1]

It's much more difficult today compared to 15 or so years ago. People are much more aware of the used price of basses than in the past. The major downside is the amount of time that needs to be shoveled into the search for the undervalued gear. But it certainly can be done. I used to clear 20% re-selling at very fair street prices for near mint basses. For me, today its definitely not worth the effort.

EDIT: I completely forgot to mention current shipping costs.

 

[Lo-E]

Nope.

 

[mikeswals]

Modding is the worst thing for flipping...just leave it alone.

 

[Peter - Oregon]

No

I liked your answer, but I hoped if might be different!

 

[Peter - Oregon]

It's much more difficult today compared to 15 or so years ago. People are much more aware of the used price of basses than in the past. The major downside is the amount of time that needs to be shoveled into the search for the undervalued gear. But it certainly can be done. I used to clear 20% re-selling at very fair street prices for near mint basses. For me, today its definitely not worth the effort.

Like probably some others, I thought maybe the growth of so many online outlets has created more buying opportunities. So far, it sounds like it does the opposite, and the pricing by the market is more efficient than ever.

 

[rockdoc11]

Directly: no.

Indirectly: sorta.

I have a (relatively) short list of bass and guitar-related items that I'd be interested in picking up at a good price. There's nothing on that list that I can't live without, so I am not interested in paying full price on them.

When one of these items shows up locally on craigslist/Facebook Marketplace at a below market value price, I think, "I'll pick that up and try it for a while."

If I end up liking it, I'll keep it, and know I got it at a good price.

If I end up not liking it, I know because I picked it up at a low price that I can sell it and not lose money, and perhaps even make a few bucks.

But money making is not the goal.

 

[ShawnG]

Over the years I've developed a pretty good sense of what's a good deal and what's not. Pretty regularly I see basses and amps on the local FaceBook Marketplace that would definitely be candidates for buying and then selling for a profit (maybe 15-25%) depending on the item. For example, there is an Stingray 5 that just popped up in what looks to be great condition for $1.2k. If it's as good as it looks, it might go for $1.5k here on TB.
But...that's before shipping and then there's the time invested in going and looking at them (and probably often, passing due to condition or other issues) and the cost and effort of finding packing materials, etc.
For me, I keep an eye out for things on my wish list and try to get a good deal on those. If they don't work out, I should come out a little ahead or at least break even. I've pretty much kept most of what I've bought, but for the things that weren't a good fit, I'm a little ahead. Not trying to buy and sell for profit, but not losing $$ keeps my wife happy!

 

[Peter - Oregon]

Over the years I've developed a pretty good sense of what's a good deal and what's not. Pretty regularly I see basses and amps on the local FaceBook Marketplace that would definitely be candidates for buying and then selling for a profit (maybe 15-25%) depending on the item. For example, there is an Stingray 5 that just popped up in what looks to be great condition for $1.2k. If it's as good as it looks, it might go for $1.5k here on TB.
But...that's before shipping and then there's the time invested in going and looking (and probably often, passing due to condition or other issues) at them and the cost and effort of finding packing materials, etc.
For me, I keep an eye out for things on my wish list and try to get a good deal on those. If they don't work out, I should come out a little ahead or at least break even. I've pretty much kept most of what I've bought, but for the things that weren't a good fit, I'm a little ahead. Not trying to buy and sell for profit, but not losing $$ keeps my wife happy!

Great reply Shawn, thank you!

 

[Heiwa]

Mods dont increase value, just makes you lose money

 

[tpaul]

Occasionally I used to buy underpriced music gear on Ebay and flip it for a profit. If you're not spending a lot of time looking for opportunities (I wasn't) it's more serendipity than a side hustle.

What's killed it now is the shipping cost. Only small high value items are worth messing with. I've seen several underpriced basses recently but let them go by because the cost of shipping overwhelms any potential profit.

 

[gln1955]

Unless you are a big corporation that can negotiate a deal, shipping takes too big a chunk out of flipping for profit. Then you need to possibly sit on some things for a long time to find the right sucker (er...buyer) to make a profit.

Seems like there are easier ways to make money.

 

[TDR1138]

I'm pretty sure the same guy that has lowballed me when selling a reasonably priced bass on Craigslist is the same guy that has had several overpriced basses sitting there for months. So, no, I don't wanna play that game.

 

[Musical_musings]

I have a friend who knows his way round amps with a soldering iron. He buys broken Fender and Marshall valve amps, fixes them, and sells them for three of four times the price. But the trick is to buy something with re-sale value (hence Fender & Marshall) as he has a load of other amps that he got for next to nothing but no one wants to buy (Warfdales, Vox's etc.). It also helps if you have the electronic skills - I don't but do help him to source things.

 

[Grinderman]

I think that depends on all of what one values.

 

[Mighty Thumb]

I liked your answer, but I hoped if might be different!

I think theres not really that much gear out there that can be flipped for profit these days. Broughton, Iron Ether, 3Leaf and a few other pedal makers do come to mind. But I buy gear to play and enjoy. If I don't like it, I accept that I'm most likely selling it at a loss.

 

[Wisebass]

Hi Peter

Yes and no! I don't buy stuff to sell it for profit.

But that doesn't mean I always lose money when I sell equipment;

I bought several basses when I was a student, that were completely

f'd up (stickers, gunk, rust...)

I made them work for myself giving them an overhaul.

A setup, clean up and resoldering without investing in new parts,

can change the price by a lot!

I imagine it works best for those that are good at modding?

Only for those who mod someone elses bass and get payed.

Do you feel your efforts have been worth your time?

Absolutely! I had a working instrument for a low price at a time when I had no money to get something better.

The profit I made wasn't big but better than nothing!


Wise(b)ass