How To Flip Bikes To Make Money | Buy And Sell Tips

Over the past 3 or 4 years, I’ve bought and sold over 70 bikes. While I haven’t made money on every single bike, I’ve still managed to make a profit overall on top of buying a few bikes for my personal use. In this video, I give 10 tips that’ll help you find the best deals on bikes so you can then flip them for a profit.

Basic Maintenance Tools I Recommend:
Metric Hex Key Wrenches – https://amzn.to/3LV7P6v
Housing And Cable Cutter – https://amzn.to/3rZrQRj
Cassette Lockring Tool – https://amzn.to/3By2Vr9
Bottom Bracket Removal Tool – https://amzn.to/3gWlkVe
Chain Whip (or build your own) – https://amzn.to/34Jh0WV

My E-Bike:
Ride1Up Core5 – https://ride1up.com/product/core-5/?wpam_id=729

#mtb #sidehustle #bike

two years ago i posted a video about how i had bought and sold use mountain bikes to make some extra money eventually making enough to pay for a brand new bike it was mostly about how much i had paid how long i kept them and the profit made on each back then i was just excited to share the story but i’ve had a lot of comments wondering how exactly i found the deals that i did in this video i’m going to share a few tips on how to get a great deal on a used bike that you can ride for years or simply flip for a profit [Music] in mid 2018 i found myself getting really into biking i mean i had mountain bike to some extent since i was a teenager but around this time is when the bug really bit me back then i had a trek x01 cyclecross bike that i used for commuting and a 2016 salsa mukluk fat bike on mountain bike duty i was wanting to get more into gravel riding on the steep forest roads nearby but wasn’t too happy with the gearing on the x01 so off i went on the hunt for an inexpensive used gravel bike that would fit my needs 12 months later my quest to buy one bike turned into more than 20 and 12 months after that another 19. basically what happened is that i found a really good deal on a scott speedster gravel and thought it would work for what i wanted after a few rides i decided it was too small for me so i put it back up for sale at a higher but still fair price and it sold in two days that was pretty cool but i still needed a gravel bike so i kept looking at the classifieds all day every day one day i saw an all-carbon fat bike with really nice components pop up for a thousand bucks it had only been listed for a couple minutes but i called the guy and arranged to check it out after work even though it was basically a no-name brand it was in good shape and seemed to be a good deal so i bought it again this bike didn’t really fit me it was a medium and i ride a large and it wasn’t really what i was looking for but i thought maybe i’d have the same luck i had with the speedster i gave it a super basic tune-up adjusting the shifters aligning the brakes and adjusting the air pressure and put it back up for eighteen hundred dollars it sold in a little over a week and i realized i was on to something i started keeping a close eye on the classifieds and anytime i found something that seemed like a good deal i’d jump on it most of the time i’d end up making a small profit of one to two hundred bucks other times i double my money and then sometimes i lose a little but in general more money was coming in than going out it’s been a few years since then and now i live in a more rural area so i don’t really flip bikes anymore but i thought i’d give some tips on how to find good deals that you can flip for a profit or ride for years so let’s start off with the buying side of things number one know what you’re looking for if you’re hoping to get a good deal you should probably know what you’re looking at the easiest thing to start with would be brands that are putting out quality bikes even non-bikers will recognize brands like specialized trek cannondale or giant but there are also lesser known brands that are huge in the viking world that the layman might not know about think canyon ibis salsa nuke proof brands like that bikes from these brands carry more value off the bat just because of the name on them after that you should learn about components especially when it comes to the suspension train and brakes these are what most buyers are paying attention to because they’re the most noticeable when it comes to how a bike performs shimano sram fox rockshox magura hope tech mrp among many others are all names you should be familiar with there’s a lot more to components too because each brand makes everything from entry level to ultra high end so learn where each model falls along that spectrum sure a 12 speed shimano drivetrain is a 12 speed but it’s going to demand a much lower price than say the xtr version at the same time though a 12 speed dior is a heck of a lot nicer than an xtr drivetrain from 2006 and not just from a wear and tear perspective either each new iteration of these models brings new technology to perform better so keep the age of these items in mind as well number two familiarize yourself with market prices now that you’re an expert on bike components and brands it’s good to know what the going rate for these things are i found that a good place to start is with how much something is brand new that’s typically going to be the most you’d pay for something so why not start there i’m going to pretend this is happening in a market where there isn’t some crazy shortage because i know availability is short right now and things are actually going for over msrp in some cases but even if something isn’t available brand new i like to search around online and see what similarly spec bikes are going for you might not be able to find the exact model or build but if the frame is the same material and the components are pretty similar it’s still a pretty good indicator on the price it might actually even be in your favor if there aren’t many for sale especially if that bike’s been discontinued this was the case with a niner ross nine plus i bought used niner had discontinued this 29 plus wheeled beast a year or so prior and bikes in that tire size were becoming increasingly hard to find i picked it up for 800 bucks after some negotiating of course and wrote that thing a ton before selling it at that point i had converted it to single speed but still sold it for 900 without the drivetrain because you just can’t find many bikes like that out there one important detail here is to pay attention to how long something has been on the market if it’s been on there for four weeks and is still available either the price is too high or there’s something really wrong with the bike that’s not always the case but it usually is number three constantly watch the classifieds when i say constantly i mean it if you’re going more than a couple hours between checking there’s a good chance you’re gonna miss some deals every single one of my best deals has been a case where i saw the ad less than an hour after posting and had already reached out to a range of time to go pick the bike up in some cases it was within a few minutes i once got two framed wolftrax carbons as a package deal for 1500 bucks when i saw the ad i think it had been up for maybe four minutes and while framed isn’t a well-known brand or anything i knew based on the carbon frames and the components that this was going to be an epic deal i decided to call instead of texting them so they knew i was serious and i wouldn’t get lost in the inevitable flood of text messages a couple hours later i was home with both bikes plus a bike rack and a brand new camelback all for 1500. you might think you’re the only one out there looking for a good deal but that’s far from the truth so speed is the name of the game another note here is that i rarely check pink bike or other bike specific classifieds for deals good deals rarely come up there so i stick with things like craigslist and facebook marketplace instead number four learn to haggle 95 of the time i don’t offer the price listed on the ad sellers in a used market are usually not only willing but actually expecting to get an offer under asking price i’m not saying to lowball them because as someone who sells a lot of used bikes and components there’s nothing more frustrating but don’t be afraid to make a reasonable offer if it’s up for 600 offer five if it’s up for 2500 offer 22. the worst they can say is no the best they can say is yes and most likely you’ll just meet somewhere in the middle if you’re offering less though come up with a reason or two why it could be the bikes in worse condition than you thought it might need a tune-up or a wheel trude or maybe you think that’s just a more fair price if you’ve really done your research know the market and the components and bike you’re looking at it’ll be pretty easy to find some flaws or reasons why you want to offer less be respectful though and if they say no say thanks for their time wish them good luck with the sale it’s their bike after all so whether or not they sell it is up to them i’ve actually had a few times where i’ve made offers on bikes that seemed way overpriced i’m talking 2 000 for a bike that’s maybe worth 800. usually it turns out that the person selling the bike doesn’t know much about it or has some incorrect information like the year it was made so when making the offer i usually explain why i’m offering so low compared to asking and send a link to the bike from the barons bike archives that might sound condescending or rude but i’ve only ever had people thank me for explaining it to them and often ask for advice on what i think a fair price would be now let’s move on to the selling side of things i don’t have as much to say here because it’s pretty simple and doesn’t require much research or time on your end as the seller number one tune it up this is where you do need some additional bike mechanic skills but not a lot nobody wants to buy a bike that isn’t braking or shifting well or with a wheel out of true the first thing i do when getting a bike ready for sale is give it a basic tune-up i make sure the drivetrain is shifting well the brakes are working and aligned the tires are aired up and things are lubricated and ready to go this often doesn’t require putting any money into the bike except for the occasional new brake pads or tire sealant refresh or maybe a brake bleed but those are the exception if the bike is in need of major maintenance like a new hub or shock rebuild i probably didn’t buy it in the first place unless i could get it for a really good deal number two make it look good don’t sell a dirty bike washing a bike doesn’t take a lot of time but it makes a huge difference in both the way a bike looks and how it performs it doesn’t take anything special either i usually just use a hose and a couple rags unless things are super dirty and then soap gets involved get it wet wipe it down rinse it off dry things off then move on to the tune-up phase be sure to let it dry before taking pictures and when you do get to that phase set the bike up and take pictures from multiple angles then move in and focus on specific components you may also want to take pictures of any major issues there are or big old scratches or dents i’ll usually put one of the bike from each side one at an angle and then the pictures of the tires derailer suspension components and the handlebars i rarely get asked for additional pictures after that number three write a detailed ad this is an important part that’s often overlooked you don’t need to write a big essay or some salesy description but try to give the info you’d want to know make model year and size are the most important so put those in the title then in the description talk about the condition of the bike and components list the specs like the fork brake drivetrain and any upgrades you may have done i also list any issues it might have even if it’s something that will need to happen soon like a fork service be a good seller by being transparent with any issues it might have you don’t need to list every scratch in the paint but be upfront about anything that actually might impact a buyer’s decision number four price it fairly if you go into this process thinking you’re going to double your money every time you’re going to be really disappointed like i said earlier i found i’m usually only making a few hundred bucks in profit i use a google doc to track all my bike flips and my average profit is right around 200 bucks and that includes some major outliers like my ice cream truck that i made over 1500 bucks on if you’re making one to 200 on a flip i think that’s great assuming you didn’t spend 10 hours of your time in the process but since i got the bike under market value i typically list it right at the average of similar bikes i’ve seen it ends up being a fair price for the buyer especially considering it just got a full tune-up and it tends to sell relatively quickly i guess if you only cared about getting the most out of it as you possibly can you can list it higher but you may be holding on to that bike for quite a while number five be willing to negotiate just like you negotiated with the original seller of the bike don’t be rude or act outraged if someone makes an offer under your asking price except for lowballs i guess you can have your fun with them because it’s so frustrating as much as i love making money i also love talking about bikes with people and many of the bikes i’ve sold have gone to people just getting into the sport i’d rather someone buy a bike and join the community than argue over 50 and that’s pretty much it there’s probably other advice i could give on the topic but this is really the best and most comprehensive advice i could give to someone looking to get a good deal on a bike or start flipping bikes on the side it’s a fun process you learn a lot you get to ride and work on a lot of cool bikes all while making a little bit of money at the same time even though i rarely buy bikes to immediately turn around and sell these days i found i still get a thrill out of watching the classifieds for something good to pop up if you have any other questions maybe something i didn’t answer in this video let me know down in the comments and i’ll try to answer it thanks for watching and i’ll see you next time [Music]