There is a pattern I have seen on Kijiji/Facebook Market Place. I have been looking at flipping bicycles as a small money making hobby--very small--(buying, fixing and selling) so I have been researching by tracking bikes that are for sale, how long it takes for them to sell and then if any of them end up back on the market by a new seller for a higher price. A few weeks ago you would see someone list a decent (not high end just a good brand hybrid that was $800 to $1200 new) bike for sub $100 and it would be gone in hours, back on the market a week or so later for $300 to $400. Now, they are there for days at the sub 100 price or longer, sometimes with price drops. My guess is the flippers are not risking catching it...
So, if you took super precautions there could be any number of items being sold today that people just want to get rid of fast on these sites, that could be flipped once things calm down... Buyers market right now...
I like restoring / fixing stuff but it doesn't make money if you do it on speculation. Spec means buying something, spending time and money on it, hoping someone will pay you what it's worth. It can be a long wait.
It helps if you have the space but if you have to wait the item can go stale.
You make more money fixing other people's stuff at an hourly rate. Repairs can be more stable during a recession. When I started my business a guy at the Black and Decker shop pointed out that in good times a person would buy a new mower for $400 instead of spending $200 on a repair. In a recession they go for the repair because they need the other $200 for the mortgage.
The Economist had an article years ago that said if you buy on spec you should never pay more than 10% of the potential value. You don't know how long you have to store, finance and possibly insure the item. The flea market vendors I have talked to tend to agree.
Police auctions are a source of bikes but some sell in lots. Take a big truck. Last time I checked Toronto sold in lots but Brampton sold individuals.
If anyone is thinking about cars watch the Mecum Auctions on youtube. In the more recent ones people are still spending crazy money for old but not rare vehicles but fewer reserves are being met. That's over a couple of weeks. Some off frame restorations are going for the price of a decent paint job.
If they're still being held, go to a small auction and see what's moving. Gold jewelry goes by weight in grams, screw the looks.
A beautiful scale sailing yacht that would look lovely on a mantle went for $50.
Royal Doulton is dead. Old stoneware crocks got better prices (Hundreds) than the Doulton stuff.
A rusty empty one gallon oil can went for $80. My cousin's hubby has cases of full ones and a couple dozen old gas pumps.
Right now I wouldn't speculate on anything I couldn't store on my present real estate.
