buying and selling bikes

[1034am]

Hello, Does anyone out there flip bikes for profit?

Was wondering if anyone has any experience or stories about re-selling mostly inexpensive Japanese bikes. (Tales of caution, liabilities, etc.)

Thanks.

[The Buddha]

You are liable for all tales of caution. 
Cool.
Buddha.

[yamahonkawazuki]

it IS possible. if you can buy them in the off season i.e. winter. ( unless youre in hawaii, california,or the DSW,) Or you are mechanically inclined. like repairing wrecked bikes or repairing mech. issues. proceed with caution.
Aaron

[1034am]

I'm not too worried about profit margins, there seems to be an endless supply of non-running bikes available. If I can sell 3 a month I can meet my overhead. (Have figure in winter months in my business plan.)
And I could probably photocopy or re-write the contracts I signed when I bought my last set of wheels. really iron-clad contracts.

Seems most guys run into the time problem, as in not enough time to get them running. As currently unemployed time is not a concern. I can run out of my garage and see if it's viable.

[Big Rich]

There are a lot of bikes that are worth more in parts than they are complete & running. So if you get a bike for $100 but can get the engine running (compression numbers help a sale btw), sometimes the engine alone is worth $300-$500. The problem with parting out bikes is this: you have to have the right price on the right parts for the right person. If those 3 things don't meet up, you have stuff collecting dust.

As far as making a profit from flipping bikes.... I've done it once intentionally. And it was about a bike I knew very well so I had all the details figured out before I spent a dime.

[yamahonkawazuki]

theres always ebay for parting out. engine shipping IS  pricy. but if someone is willing to have it shipped freight collect, youre good.
Aaron

[1034am]

That's good, I didn't think of parting-out profits. (manage inventory, account for shipping, and a little luck...)

I have 2 bikes currently that I bought for under $500, and should be worth $1500 to $2000 in running condition. I find the work very relaxing, and my wife suggested I take a shot at it. And when the wife says 'you should buy motorcycles and see if you can resell them...' you don't ask questions (and realize you married the best person ever!)

[ShowBizWolf]

This thread has been really interesting to read!  Glad you brought it up and people gave their thoughts...

Good luck and keep us posted on how it goes!!! 

[Kijona]

Having bought and sold 9 motorcycles on Craigslist...and made at least a small amount of money each time...here's what I recommend:

- Don't get fixated; there's always another one out there
- Know how much the bike is actually worth (Craigslist is a good place to start since it's open market)
- List for more than your bottom dollar ($300-500 higher is a good cushion)
- Use "OBO" in your ad
- Don't put your phone number in the ad; use a disposable email. Instruct people to email you with their NAME, PHONE NUMBER, and a good time to call/text; people that can't follow simple instructions aren't worth your time (believe me, I've wasted enough of mine to know)
- Take a LOT of high-quality pictures and host them somewhere like Imgur so people can see full size version
- Put just enough information in the ad to interest people

Good luck~

[cWj]

I feel like problem #1 or #2 with flipping bikes has to be storage space.

If you have a place to keep them that costs you nothing extra, then you can take your time in finding the right buyer or repairing the bike if necessary...

AND ONLY buy a bike to repair if you really want to do it. Otherwise, buy them thinking of whether you can sell them in the condition they are in when purchased. It's easy to get caught with a backlog of bikes that need fixin' and a wife whose demeanor has gone from "do it" to "get rid of the bikes or sleep with the bikes - you're call".

[1034am]

Storage space shouldnt be too much of a problem, I have a pretty good size backyard & garage.
I love the work, so motivation is there.

My concerns are:
What if they don't sell? 2 or 3 a month is my goal, and in the $2000 price range I should be undercutting most of the market, but it's still a risk.
Liabilities. What happenes if someone gets hurt? I have a lawyer on retainer, and their advice is clear signed contracts. Still worried.

I get back from vacation in 2 wks, I'll know then if the 2 bikes I'm starting with sell. Then it's game-on!

[Big Rich]

I've never considered a liability risk when it comes to motorcycles.... maybe it's just certain areas where it's a problem?

I would think as long as nothing is in writing stating that the bike is in perfect shape and it's impossible to have a failure, you'd be good. I mean, stuff wears out and / or breaks all the time, right? A motorcycle is well known to be enough of a risk alone....

[ShowBizWolf]

Never forget those two super important words when selling... AS IS. 

[1034am]

New name: As Is Motorworks
The warranty is in the name! Ha!

[ShowBizWolf]

Woot 

[Kijona]

Liability could be a huge concern, depending on where you are. I know that here in GA, you can be held responsible for something someone does with vehicle/motorcycle before they transfer the title into their name. That's why it's always best to go to the tag and title office WITH the buyer.

[1034am]

Finally got the bike for sale, advertising on Cycletrader & Ebay. Different mentality when selling (vs keeping) but I still got most of the issues resolved. (Chasing gas leaks, bad/no cold starts, over-all aesthetics)
Asking $2400 (for a '89) I know its a little high, but you can't touch a decent bike here (nj) for less than $2k, & now I have wiggle room.
Now I wait and see what happens...

[ShowBizWolf]

Good luck!!!!! You must let us know what happens 

[Alan_nc]

Worked as a "breaker" for over 5 years.  Buy non-running or running but cheap bikes on Craigslist or from the local newspaper.  Break them down into shipable pieces, list them on Ebay.  For available bikes you need to be in a fairly large metro area.

You have to be very organized.  Check the ads a couple of times each day, call as soon as an ad appears.  Jump in the truck and go get the bike.  Get home and start tearing it down.  List and label all of the parts.  Have some type of bin system to keep them straight.  Box and ship parts that you sold that day.  Make run to post office.  Have boxes and shipping materials.  Keep up on all the paperwork.

It's a full time job.  All dealings are in cash.  Your liability is very limited since it's just parts.  It's dirty, hard work.   You learn very quickly which bikes will make you money.   Oh yea....you also need to watch out you don't buy "hot" bikes (stolen).   Love my GS but......for selling parts you are better off sticking to Hondas.

If you don't make $50,000/yr your doing something wrong.

[1034am]

Alan, what size space do you need for a parts business? Single car garage enough?