Cashing In on Craigslist: Case Study: “The President’s Chair”

Question for ya.

What happens when you combine a black chair, The Flipping Ninja, and a bit of creativity?

Answer: Magic!

Here’s this week’s flip:

I came across this awesome, yet pretty normal looking black chair with a little ottoman at a thrift store. It wasn’t anything too special, yet something about it caught my eye.

(Flipping Ninja Pro Tip: When you’re out and about looking for deals/thrifting, don’t look at things from a “Hmmm, do I like this?” perspective… Instead always look at things from a  “Hmmm, would someone buy this?” perspective!)

Here’s a pic of the actual chair displayed at the store so you get an idea of what I see when I look for things:

Looks like whatever, huh?

Didn’t look like anything TOO cool.

Now unless you’re a furniture fanatic like I am… I noticed it as far as profitability. I knew I could sell it. I knew someone out there would LOVE this chair and pay a hefty price for it. There was definitely profit potential.

So this chair & ottoman, I go up to it and lift the seat cushion to check the brand. It’s by a company called “Kittinger,” and this specific chair is called the “King of Ease”.

I take 2 minutes to do some quick research on it run through The 4 Weapons of Determining Value and see that it’s somewhat rare. Nice.

Price? $40 bucks.

I buy it right away and decide I’ll do more research once I get home before I craft my ad when it’s time to sell. I’m already confident I can flip it for a profit (the more experience you get, the faster you’ll be able to know for sure if you’ll profit from something or if it’s just not worth your time).

I clean it up, further research it and here’s what I discovered:

  • Turns out this brand is pretty rare, as I saw earlier.
  • It’s also the same brand and company that’s been furnishing… The White House! For like 40 years.

So I’m like holy shit. I could totally use this as an angle to sell and position this chair – while charging a more premium price.

So I start crafting an appealing ad and taking nice pics of the chair & ottoman.

(Flipping Ninja Pro Tip: You have to remember… as a Flipping Ninja, you’re essentially a salesman, marketer, and copywriter. Literally the words you use, will determine how much money you make. So for example… We can have 2 items, you and me. Same items. I can sell it for $100 bucks. You can sell it for $1,000. What’s the difference? The Words You Use [capitalized for importance of my point]. So if you know how to use the right words, and get into the minds of your customers, that will directly determine how much money you’ll make. So you can outsell me [and everyone else] and make more money if you know how to write compelling ads and know the formula and structure to follow when creating ads that sell. I teach you how to do all of this in The Flipping Ninja Blueprint, with many examples too and templates you can easily copy & paste – and use on anything to make money. They’re proven and tested too).

Moving forward, this is the ad I wrote that did the job…

Not only did it sell for $300 two days later… I got MULTIPLE PEOPLE interested, with my phone blowing up all day until I had to delete my ad.

As you can see… the price I put on the chair in the ad was $400. So I actually knocked $100 bucks off the chair because I wanted to move it quick rather than try and spend more time meeting with people or risk people showing up and changing their mind (which would only waste more time).

So I ended up selling it for $300 bucks, making a $260 profit.

Blurred for obvious reasons

All I did was walk into the store, see it, buy it, take it home, clean it, research it, post it. Took probably 60 minutes max.

It was a really cool chair and all, but it was also pretty basic looking, old, yada yada yada – it doesn’t matter what I think. The point is – as a flipping ninja – it’s all about sales. Beauty is all in the eye of the beholder, right?

Watch Out For It… Emotional Attachment

It’s easy to get emotionally attached to items. It still happens to me every now and then – but not me willingly keeping something. I go over this in the Flipping Nina Blueprint and how dangerous it can be, however. If you wanna make tons of money flipping things and really be successful, you can’t get emotionally attached to items you buy.

And it will happen, believe me. No matter how strong you think you are. Especially once you start flipping boatloads of items and really cool shit. I made over $100k in sales in one year. So you can imagine how many different things I’ve come across and just wanted to keep.

I’ll admit – even today – if you came to my house, you’ll see the coolest, most random things just displayed everywhere. People love coming over to my house because it’s such an experience. You’ll see random mannequin heads, swords, creepy dolls… and just… it’s really all over the place, lol.

You’ll have to remind me to tell you about the time this old lady came over to look at a piece of furniture I had… when she saw a mannequin head staring at her from the corner of the room. Nearly had a god damn heart attack! She turned her head faster than a speeding bullet and says, “There’s a mannequin head over there!” LOL.

As if I hadn’t known. Seriously, what do you say in response to that? “Uhhh… Yes ma’am you are correct, there IS a random mannequin head displayed over there… *nods head* mmmhmm…”

Or even better, totally act surprised and in shock… “What?! Where?! Omg let’s get the hell outta here!!!”

😀

But on another note (as you might be able to tell) – it’s more so because I just like having a crazy place like that. Idk, it brings excitement and creativity. It breaks your regular patterns you’re so used to. Lol.

But it also tells you that… yeah, you can’t get emotionally attached. You have to keep things moving, keep going, and keep selling so you can really get good and then have the luxury of keeping whatever you want (because you know you can sell anything – and always make a profit because you’re that good – while your friends resort to giving things away or losing money on items because they can’t sell properly).

So with that being said…

This is an exciting business… The things you’ll come across, the fun you’ll have… My only question to you is:

When will you get started and join the fun?

 

Case Study Summary: 

1. Saw thrift store chair for $40 bucks. Bought it.

2. Posted compelling FOR SALE ad, pricing it at $400.

3. Sold it for $300 2 days later, with multiple people interested.

Profit: $260

 

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