Bought for $146. Sold for $300 in just five days. $154 profit for 50 minutes of work.
Another successful flip.
Once I saw it, I knew the DiamondBack bike was going to be an exciting item to flip. It was gold amongst mud; it looked brand new!
I knew I’d get a substantial profit for it. Bikes are one of the best profit-making items to flip if you have a way to transport them to and from your place. Because there is a decent demand from consumers who do not want to invest too much in expensive brand new bikes, bikes from thrift stores are excellent items to flip.
If you visit thrift stores and find a bike from a reputable brand then you’ve hit a jackpot. As long as the bike is fully functional then you’re in for some quick cash. And even if a bike does have knicks or scratches, people always want bikes and there will always be a market for them. And they’re usually sold so cheap at thrift stores anyway that you’ll virtually always profit on them.
I employed my tried and tested techniques to help me sell this item fast.
The Money Shot
Selling on the online marketplaces is all about presentation. We’re visual creatures, so it’s only natural that the first thing we look at (and judge by) is the feature image. If it looks appealing, we click it. If not, we don’t even notice it—we just move on.
The money shot is basically the photo that will make customers click on your item listing and take more than a quick look. If you want to know more, I’ve detailed a few important tidbits of information about how to take great photos that grab people’s attention in the previous FOTW entry.
This week, we’re focusing on the written word.
Compelling Ad Description (Case Study)
At least 80% of good copywriting is research. All the greatest copywriters of the last century will not dispute that before you write your ad, you must know your product.
David Ogilvy, the man responsible for the advertising success of huge accounts such as Rolls Royce, Schweppes, Sears, Puerto Rico, Hathaway Shirts, and Dove, said this:
“If a copywriter averages an hour a week actually writing, he is exceptional.”
Before you write a single word you must know what product you’re selling.
You have to ask yourself these questions:
“What problems does this product solve?”
“For whom is this product for? And for whom is it NOT?”
“How does this product make the lives of my customers better?”
We’ll study the elements that composed this product’s ad copy. Let’s dive into it.
This bike is from a reputable brand so I made sure to put that in first. Bike enthusiasts would know the real value of the bikes from this brand. That was a great decision on my part because it seriously attracted a lot of customers. If you do your research it can bring you a lot of fortune.
Plus, who doesn’t like freebies? When I bought the bike, the saddlebag and the handpump already came with it, so I made sure to also put that into the headline. It surely added more value for its price.
The application of “You”
People love to hear about themselves. It’s only human to care about one’s own wellbeing and status. We have egos, however big or small.
If you look closely at how the ad copy was crafted, you won’t find a single I, Me, My, or Mine in it. It’s all about YOU. People aren’t paid to read this stuff, so make them care.
Answer the question customers always have in mind, subconsciously or consciously, when they’re reading any piece of advertising:
“What’s in it for me?”
It’s only natural, so make sure to remember this tip when you’re writing your next ad copy.
Features vs Benefits (and how to use both)
Our species has evolved to become logical creatures. Through our intelligence and logic, we’ve invented metal birds that carry us through the air, we’ve created slim rectangular discs that allow us to call and see our loved one’s faces half a world away, we’ve even sent a dozen people on the moon!
However, all these things weren’t created in a vacuum of pure logic; the actions that lead our species to build wonders were driven by emotion. Just as we are creatures of logic, we are also creatures of emotions. We feel anger, lust, joy, and sadness. We feel scared, we fright, and we cry. But, precisely because of that, we’ve learned how to harness the sky.
The features of your product provide the logic; the benefits spark the emotions.
When you write a feature like This phone’s battery has a capacity of 4000 mAh, it only means something to people who know about electronics. This is important, but not sufficient if you are to sell this to a broader range of people.
So you may add its benefits, It can last for 8 hours straight of heavy performance or a whole week of idle usage! Now that means something to a lot of people.
Another thing that makes good copywriting is imagery. When you’re window shopping for clothes or shoes you’re likely imagining yourself wearing them. That is the purpose of imagery. Make your customers think of having your product, and you’re halfway there.
Buying bikes from thrift stores is a decent way to earn cash on the side. From purchase, to transport, to shooting flattering photos, to crafting this killer ad description, and finally, to posting it online, it took only about 50 minutes.
And it was off my hands in just 5 days.
Bought for $145.99
Sold for $300
With a profit of $154 in about 50 minutes of work, this was definitely a worthwhile flip.
Great easy profit of $154.
Used my pickup to bring it home, the bike was light and it provided no problems along the way.
Time Spent: ⭐⭐⭐⭐⭐
Considering the profit I made from this, it would be a sin to consider it less than 5 stars.
Overall I’d give it a 5/5 considering these factors:
- Time spent: 50 minutes
- Transport: Smooth transport on my pickup.
- Profit: This was definitely a worthwhile flip that earned me a sum. I can’t discount the luck of my timing.