We had two recent flips, and today we’re going to compare them because one was a low-price flip, and the other was a high-price flip.
What did we flip?
The LED Flip
The first one was a LED ballast system we got from a contact who had pallets of them. I got a box of 24 for free. We’ve already sold 10-12 for $80 apiece. We had no money invested and sold it for $80. We are comparing this flip to our sale of a Turbo Chef oven, a high-profit flip from last month.
The LED ballast was free. We sold it for $80. We had $10.50 in eBay fees and $10.47 in shipping. The profit was $59, and we didn’t put any money into that unit. It’s a small item and easy for me to store and package. So a quick $60 profit is something we’ll take any day.
Regarding time, it took me maybe 45 minutes to get pictures of it, list it, and get it packaged and shipped. I used a doubled-up Amazon envelope to send it. This is an excellent item because it doesn’t take up much room or time. When one sells, I grab it and ship it out.
The TurboChef Flip
Last month we sold a TurboChef oven for which we paid $400. Right away, we had that money come out of pocket. That might not be feasible for everybody to have that expense upfront. We generally try to look for items that are $100, but with this one, we knew the profit was there. It’s on the high end for us too.
We found this on the road trip, and I bought two for $400 each. I had $800 out of pocket and $400 invested into this one that sold. We sold it for $10,000. This retail price is $25,000, so somebody got a great deal. Our shipping was $125. We could put it on a pallet with just Melissa and myself. No forklift is needed. I used a standard pallet and some tools to build a box around it to protect it during shipping.
As far as time invested, I found it after sourcing for 30 minutes. Then there were messages back and forth. We picked it up in less than 20 minutes: We met the guy, loaded the items in the trailer, and then kept moving.
I spent two hours cleaning this, maybe more, because I knew the potential of this item if I could get it looking new. Afterward, I took pictures and listed them. Once it was sold, I had another hour to make the pallet. I estimate it took about five hours this time. Five hours to make a $9,175 profit is not bad!
We spent $300 on fees. With this one, our fees were low because we went off the platform for the sale. We had the buyer, but eBay would hold our money for at least 30 days. I told eBay, “If you can’t come to a resolution, I’ll sell it elsewhere,” so I did that. PayPal fees are 2.99%, so it was about $300 in fees for a $10,000 sale.
Typically on eBay, you’ll pay 10-13% in fees depending on the item category, but if you sell an item over $2,500, you will only pay 2.5%. It goes down when you sell an item of that value, so you don’t pay as much.
More Money, Less Time
Many people sell smaller items for $30-$60, but to make that $9,000 profit, you’d have to work 155 hours to make that. You only have so many hours to devote to making money, so what if you took those 155 hours and invested them into finding high-profit items to sell?
$284,000 is what I could make with the same amount of 155 hours on the high profit versus the low profit. Some of our high-profit items do not sell for $10,000, but there’s the potential.
You can make more money in less time if you put the hours into making these higher profits. That’s why we’ve gravitated toward appliances.
We’re just trying to give you comparisons so you can know what is available when you hone your skills on high-profit flips. And you can find these high-profit appliance flips all over. People redo their kitchens or businesses have to close, and they don’t want to deal with shipping, so they’ll sell things at a lower price just to get rid of them.
If you want to learn more about appliance flipping, check out our course ApplianceFlipping.com.
Show Notes
Flip It For Christmas Challenge
Appliance Flipping Course: http://applianceflipping.com/
Follow us on Instagram: https://www.instagram.com/fleamrktflipper/
Check out our FREE Workshop: https://courses.fleamarketflipper.com/flipper-university-workshop-webinar
You can find us at: https://fleamarketflipper.com/
FURTHER RESOURCES
Let Us Find High Profit Items FOR You!
FREE Workshop How To Turn Your Passion of Flipping Items Into A Profitable Reselling Business
Download These 47 Household Items To Resell TODAY!
RELATED EPISODES
Reselling Video Games & More – Interview W/Will Crawford From Reseller Madness
How To Resell Shoes – Interview W/Dealing With Dalton
Why We Stopped Flipping Houses And Started Flipping High-Profit Items
