The buyer paid for shipping. In this case I already had a box full of those foam peanuts, but the store I sell for gives me any shipping stuff I need.
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Is this a profitable idea? Do you have Exp. With this? Please help
- Thread starter crozier247
- Start date
The buyer paid for shipping. In this case I already had a box full of those foam peanuts, but the store I sell for gives me any shipping stuff I need.
danomite64 said:
Well, yes, the buyer pays you for shipping, but then you spend that money to actually ship. You can either lose money on it, make money or break even. It just wasn't clear if $350 was net of S&H or not. BTW, I'm not trying to pick on you, but rather trying to further your useful example
I personally have never had a bad experience on craigslist, in my area at least. Maybe I'll have to start doing some of this..
I've already pointed that out more than twice. I've explained it thoroughly and given examples.
I don't really see what purpose the example served due to this. I have done the "pointing out", don't really need to be pointed back with the same information I've been giving.
Just be ready to catch them quick and be versatile with your time. If it's something really good, it's going within hours and if you gotta take care of the kids or work or do homework or you don't have gas money or a good ability to work directions, it's not for you. But if you aren't restrained, the limit is merely how many they are on market.
I've driven 2-3 hours to pick up great deals. When you're poised to make $200 it's fun to get paid $50 an hour to drive.
Whatever, dude. Go ahead and make your millions on Ebay selling MIM Precisions then, while I consider what the point of this thread is, given you already know everything.
I thought michael_atw provided a pretty good explanation of his business model and the risks/profits associated. There are many people who would be glad to make $25-$50 hour with their free time and it sounds like a viable option.
I tend to do a bit of this myself (on craigslist usually), but I prefer to focus on things that are damaged or malfunctioning in some way. I'm handy with guitar and amp repairs so I find I can get good deals and face less competition for items in need of repair. I then sell them locally or on ebay depending on the situation.
I want to caution you about a hidden risk of this enterprise. I frequently find myself keeping gear I bought to flip. This completely destroys the profitability of the enterprise. I'll get done with something and decide it just plays/sounds too good to get rid off...plus I'm in it so cheaply that I could never replace it at that price....blah...blah...rationalization. The end result is I have a bunch of gear I don't really need. Every so often I sell it off, but I struggle with that as well. Just be advised if you're a gear whore this is a potential pitfall of picking or flipping.
I tend to do a bit of this myself (on craigslist usually), but I prefer to focus on things that are damaged or malfunctioning in some way. I'm handy with guitar and amp repairs so I find I can get good deals and face less competition for items in need of repair. I then sell them locally or on ebay depending on the situation.
I want to caution you about a hidden risk of this enterprise. I frequently find myself keeping gear I bought to flip. This completely destroys the profitability of the enterprise. I'll get done with something and decide it just plays/sounds too good to get rid off...plus I'm in it so cheaply that I could never replace it at that price....blah...blah...rationalization. The end result is I have a bunch of gear I don't really need. Every so often I sell it off, but I struggle with that as well. Just be advised if you're a gear whore this is a potential pitfall of picking or flipping.
+1
Defective is awesome. Also, vintage guitars that aren't all original. I've torn apart 70's Fenders and sold the parts for $200-$300 more than they were worth whole on a semi-regular basis. I picked up a rust-bucket old dirty '99 Deluxe Jazz for $190 just last week and sold the parts for $350 within 2 days. Packed 'em up, shipped 'em off.
Frankensteins are a good source too. Lots of people might not want the pickups or the high mass bridge so they ignore the auction; sweep in and pick it up and part it out.
There are LOTS of hidden risks. You shouldn't consider that one a risk though!
I've learned how to not personify any of my equipment or attach to it. I've gone through about 10 guitars and 15 basses over the past year. Still have a few staples but they're always on the chopping block too. Looking for an AVRI '62 right now and I'll probably throw my '75 RI MIJ on the chopping block to accommodate that.
wilder said:
I've kept a few things as well, I was very fortunate to buy a 68 jazz for 700 bucks,to say it was a steal is an understatement, sure I had to scrounge up that money but I'm I have so little into it that its more worth it to keep and hopefully let it appreciate in value. I could never replace it at the price I bought it at, and people on here have offered a price.I had to sell my favorite bass , an ebmm stingray to offset the jazz but its worth it. Some things you'll find are too inexpensive to sell so ull want to keep it for sure. In the end all those things can add up and you'll be wondering where your money is.
BTW I think the point of this thread is merely to point out some aspects on flipping bass guitars,whether it is profitable depends on what kinds of deals one can find and how much is it worth to the person to try and get it/fix it/etc.
There is a difference between casually looking at craigs ,seeing a gibson grabber for 200 dollars and flipping it for 500,netting 300 and enjoy easy money ......
And then there's ritually checking kijjiji,the classifides ,ebay , for the next deal. Calculating condition ,shipping charges, potential damage or issues and risks assosiated with the purchase instantly. Fishing through a sea of fender copies and korean knock offs can get old quick,I think if you have a decent full time job ,I think its wiser to focus on that, however if you can devote your attention to what's being listed , it can pay off.
There is a difference between casually looking at craigs ,seeing a gibson grabber for 200 dollars and flipping it for 500,netting 300 and enjoy easy money ......
And then there's ritually checking kijjiji,the classifides ,ebay , for the next deal. Calculating condition ,shipping charges, potential damage or issues and risks assosiated with the purchase instantly. Fishing through a sea of fender copies and korean knock offs can get old quick,I think if you have a decent full time job ,I think its wiser to focus on that, however if you can devote your attention to what's being listed , it can pay off.
Ahh, ok. At some point I got confused and mistakenly thought you were the guy who started this thread. Now that I've reread it, I understand more of what you were saying. Still, my example of how much more you have to sell an item for before you break even is still useful for the OP.
- Jun 3, 2009
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- Disclosures
- Bassgearu, Music Industry Consulting and Sales. Tech 21, NBE Corp, Sonosphere.
Most smaller guitar shops do this. That is their business model. Have you ever been to a really good shop that has a lot of decent used basses? I'm not talking Schecter/Dean/EMG Design low end crap. I'm talking a place that has a decent selection of Fenders, Gibbies, Music man, yada yada.
Most of what they buy is from people on Craigslist at low prices then selling them for higher. If you know what you are buying, and you know your market, this can work. The problem only comes in when you don't have a ready made buyer.
I have recently had GAS because people on the web were selling their stuff at very inexpensive prices. I'm a player, so I keep 'em. But I know that for some of my stuff if I needed to sell it I could offer it at a profit for me, but the margin to get rid of it quickly would be low.
For example, I saw a bass in Ohio that is a combo of a Warmoth body, schaller hardware and an early Phil Kubicki J neck. I'm really thinking of pulling the trigger, because if I just bought it at the price asked I could part out the neck for more then the price of the whole bass. I would probably make about $100 after all is said and done on selling the neck, and the rest of the stuff I'm sure would bring maybe another $100-$200.
So, a $300 profit is good. However, if the market for the Kubicki neck isn't where I think it is, or the bass turns out to not be exactly as it seems, I could get stuck.
Oh, there is an SX precision, full scale, OLD HEADSTOCK, for sale about three miles from me for $90 asking. Should I buy it for you guys?
Most of what they buy is from people on Craigslist at low prices then selling them for higher. If you know what you are buying, and you know your market, this can work. The problem only comes in when you don't have a ready made buyer.
I have recently had GAS because people on the web were selling their stuff at very inexpensive prices. I'm a player, so I keep 'em. But I know that for some of my stuff if I needed to sell it I could offer it at a profit for me, but the margin to get rid of it quickly would be low.
For example, I saw a bass in Ohio that is a combo of a Warmoth body, schaller hardware and an early Phil Kubicki J neck. I'm really thinking of pulling the trigger, because if I just bought it at the price asked I could part out the neck for more then the price of the whole bass. I would probably make about $100 after all is said and done on selling the neck, and the rest of the stuff I'm sure would bring maybe another $100-$200.
So, a $300 profit is good. However, if the market for the Kubicki neck isn't where I think it is, or the bass turns out to not be exactly as it seems, I could get stuck.
Oh, there is an SX precision, full scale, OLD HEADSTOCK, for sale about three miles from me for $90 asking. Should I buy it for you guys?
At its fundamental level, this really only makes sense if you can add tangible value to these instruments, and people will pay for that value you bring. While you could get lucky once or twice, it takes years to turn a real profit, and massively long hours.
You can't readily outsmart the collective wisdom of the hundreds of thousands of people who shop these sites. Hell, I bet 90% of them can't play Smoke on the Water, but you can be sure they know the street price of any used Fender.
Again, I think that a lot of people misunderestimate their real time/effort expended. If you're surfing CL, you need to include the time you spend surfing, the time you spend driving to/from to buy the instrument, the gas and wear/tear on the car, etc. Then time you spend cleaning the instrument, placing the ad, answering questions, packing, gas/wear/tear taking to ship, etc. Those little costs can add up.
Time is never "free". If you're messing around with flipping instruments, that time/money could be spent doing something else. If people have fun flipping and make some money, great. But there are real costs associated with the endeavor and one shouldn't fool themselves into thinking they're making $X when in fact they're clearing a lot less.
Exactly. It's one thing to score a great piece of gear on the cheap for yourself, and it's completely different to try and make that pay you more than the minimum wage (and with no benefits). A far cry from having your own "business".
One word......OVERHEAD.
Never mind the hard costs of e-bay and pay pal fees...
What about the cost of gas to go pick up the stuff you are selling.And then going to ship it?
Packing materials?
What is your time worth?
Sure buying something for 200.00 and selling it for 600.00 would be a no brainer.
But that kinda deal ain't gonna come around very often (if ever)..
So 200.00 to sell it for 300.00 is a recipe for working for far below minimum wage.
Never mind the hard costs of e-bay and pay pal fees...
What about the cost of gas to go pick up the stuff you are selling.And then going to ship it?
Packing materials?
What is your time worth?
Sure buying something for 200.00 and selling it for 600.00 would be a no brainer.
But that kinda deal ain't gonna come around very often (if ever)..
So 200.00 to sell it for 300.00 is a recipe for working for far below minimum wage.
