Sometimes you have a great find that brings in a great profit. Today we are talking about a $400 find turned into a $10,000 flip. It’s our biggest flip of the year so far, so let’s dive in.
We found this item on the road trip over the summer but didn’t list it until a month ago. It took one month to sell, and we only paid $400. What is it?
It’s a Turbo Chef Oven, the oven that goes into Subway, Starbucks, or other commercial places. Now, it retails for $20,000-$23,000, so this was a killer deal for someone to be able to purchase it for $10,000.
Why We’re Able To Source Great Flips
People ask us why the person wouldn’t just sell it themselves for $10,000. And they totally could have. Maybe they don’t use eBay or don’t want to deal with shipping, but we can take an item from a local market and put it on eBay to reach a national market (or global if you want to ship internationally).
There are so many reasons a person might get rid of an item for cheap. They want it out of their garage. They want it out of storage or the kitchen and don’t know what to do with it. So you can find amazing deals on appliances, and we’re teaching that info in our Appliance Flipping Course.
This one might have been going out of business, so we ended up picking up two Turbo Chefs for $800. He had a third, which I should’ve bought, but we didn’t have more cash. We had messaged the seller while driving through a town. It was a five-hour trip to get there. We had to time it just right.
I asked if he was sure it worked. He said to bring it back if it didn’t work because he had three more. Well, that doesn’t help when we’re 2,000 miles from home. Instead, I asked if he’d sell me two for $400 a piece. And he went and got the other one.
Breakdown Of The Flip
It was a good flip for a $400 investment. All I had to pay was eBay fees out of that $10,000. So we’ll get the breakdown on fees, but it’ll only cost me $125 to ship because I already did the estimate. It will go on a normal-size pallet, so it won’t take long to pack up.
Another point on why these items can sell for so much is we’re still selling for half of retail. If we break down the numbers on this Turbo Chef, it was around $500 for ad fees because I promoted this at 5%. So my total payout was almost $9,200 of the $10,000. So roughly $500 on eBay fees, $540 on promotion fees, $125 to ship, and $400 for the item itself. That’s about $1,550. So $1,550 to make a $10,000 sale isn’t bad. That’s about $8,500 profit.
Other Appliance Flips
Three days ago, I found another Turbo Chef oven to sell and picked that up locally for $150. It’s a step up from the one that just sold. It’s the I-3 model, and the one we just picked up is an I-5 model. That one is not working, but it is still a newer unit that I will try to see if I can fix it. If I can’t fix it, I’ll still make a couple thousand for parts. You can’t underestimate parts.
Even this week, walking to our downtown area, there was a cooktop on the side of the road. And we picked it up, and we didn’t know if it worked. But the knobs were at least $20 a piece, the screen was glass and not cracked, and it cost $800 retail. We estimated we could get $400 for selling it just as parts.
Three of the things we’ve listed and sold are all appliances, and we have gone into this niche.
We also sold a double oven that we paid $100 for and sold for $2,000. And the other one was a 48-inch gas cooktop we got for $100 and sold for $1,750. So between the three appliances, our profit is about $13,000.
We recently picked up two cappuccino machines. This one sits on a countertop, has all the different options like latte or cappuccino, and has its water supply. When I got the Turbo Chef from the guy a few weeks ago, I saw this there and asked what he was going to do with it, and he said he was planning to scrap it. So I offered him $20 and got it. It’s an $8,000 to $10,000 cappuccino machine. The only thing missing is the bins on top, which I already priced out. They’re $60 a piece, so another $120. If I can get this working, it’ll be a significant flip; if not, I can piece the parts out.
There is so much potential for doing an appliance flip. We definitely recommend getting into this niche!
Show Notes
Appliance Flipping Course: http://applianceflipping.com/
Register for the Reseller Summit: https://www.theresellersummit.com/registration
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Check out our FREE Workshop: https://courses.fleamarketflipper.com/flipper-university-workshop-webinar
You can find us at: https://fleamarketflipper.com/
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