Flip that sofa.

[kodydog]

Tuesday we bought this Duncan Phyfe sofa from a customer. It needs no work. The upholstery is like new, 8-way springs are tight, frame is tight and finish is good. The last upholsterer did a really nice job. I'm guessing its 1930's/40's. She wanted $500 we offered her $250 she said okay if we throw in 4 toss pillows (her forms). We loaded it into the van.

Thursday a customer came by the shop needing 4 chair pads. She said she was looking for a sofa so we showed her the Duncan Phyfe. The minute she saw it she said she wanted it, how much? $550.

The cool thing is we haven't even paid the first customer yet.

https://photos.app.goo.gl/Pg91Q6cqf5rNWsby6

We also picked up this vintage secretary. We are keeping this one.

https://photos.app.goo.gl/AriH6JpHRtnezAVb9

[sofadoc]

I find myself in the same situation every now and then. On one hand, you probably could've held on to that sofa and got a lot more for it. But on the other hand, you're not really in the flippin' business and can't have stuff like that taking up space for very long. It's a catch-22.

[SteveA]

At least $900.00 labor + $ 400.00 for materials + plus the wood looks gone over - she knew a deal when she saw it. 
A nice fitted interior on the desk - lots of compartments and I see the sliding support arms that make the lid nice and sturdy during use.  Good finds and who better to explain the quality of the pieces to folks than a craftsman can -
SA

[gene]

$300 dollars for an hour's work and a bit of back strain. Awesome!

gene

[kodydog]

Y'all are thinking like me. We could have sold that sofa for $700 maybe even $1000. When the customer asked Rose how much, Rose considered all we had in it. (Not much) Rose also considered that we had a customer ready to buy. And we didn't have to deal with Crags List crazies.

The art of the deal according to Ed. In every deal give more than you take. Of course the laws of economics says you cannot pay someone more than they are worth. But you can give them a feeling of enhancement. And if you make every transaction this way you will never lack customers.

1. The customer who sold us the sofa. She gets 4 toss pillows for "free" (in her mind). She was able to free valuable space in her garage. And she didn't have to deal with crags list crazies. Win win for her.

2. We were able to get the sofa at the price we wanted. We were sure we could easily resell it at a profit. All we had to do was load it into the van. Win win for us.

3. When our customer first saw the sofa her eyes lit up. We could easily have added another $100 but we didn't need to. She was delighted with the price and because we will be delivering a chair and 4 pads she gets the sofa delivered for free. Win win for her. Everybody walked away with the feeling of a more abundant life.

[gene]

A bird in the hand is worth two in the bush.

The early bird catches the worm.

It's the second mouse that gets to eat the cheese.

The only problem with saying $550 up front is if the customer wanted to negotiate. The only thing you could have done to keep your $550 was to say "no". Giving a higher price would have allowed you some wiggle room to help assure your %550 and given the customer the idea that she won a bit by bringing your price down. Most people think the asking price is the "wishing" price and have no problem with bargaining.

I like the example of garage sales crap items being priced at 10 cents each and a lady asks if you will take 5 cents each. LOL

[sofadoc]

I like the example of garage sales crap items being priced at 10 cents each and a lady asks if you will take 5 cents each.

It wouldn't matter. You could have an item priced at $100, and the lady would STILL say "Would you take 5 cents?".

When we have stuff to get rid of, we decided a long time ago that we would rather find a needy family and GIVE it to them than to be haggled to death at a garage sale.

[Mojo]

Dennis:

We do the same thing. We give all of our no longer needed items to the Salvation Army. I am all done with craigslist ad's.
I do not like people coming to my house and I do not have time to meet people in a parking lot. The biggest problem these days with
advertising used items is all the people who respond " yes I want it. I will be there at 6 pm. " And they never call or show up.

I just haul everything to the Salvation Army and leave it there then write it off on our taxes.

In regards to used RV equipment I will flip it if the value is a couple hundred bucks. But I have a ready market for it just like Ed has with furniture.

Mojo

[kodydog]

Today we deliver the Duncan Phyfe.

I would guess 90% of the furniture we have sold over the years were to one of our customers.

When we bought the singlewide in St Augustine the pervious owners thought it a good idea to stage it. Why someone would stage a 45 year old mobile home is beyond me but they bought a new sofa and chair for the living room. The home came furnished except that sofa and chair. We made the deal and they listed the furniture on Craigslist.

The sofa was one of those overstuffed incliners with microfiber that looked like leather. They probably picked it up for $700 at a discount store. The week before closing they called and asked if we would buy the sofa and chair for $400. We have so much furniture we didn't even make a counter offer. Our realtor told them we were not interested and if they were going to keep it they would have to get them out by closing. Closing day we did a walkthrough and there sat that sofa and chair. Our realtor made some quick phone calls and found out the sellers decided we could have them, too much trouble to move.

Rose doesn't like the overstuffed look and decided to sell the sofa. But we never got around to it and kinda forgot about it. Two weeks ago a long time customer called and said he was looking at sofas at an antique store, they were right down the road from our house and could we go look at them. Rose told him about our incliner sofa and sent him a picture. $400. He called right back and said he would take it. We delivered it last week and found a slimmer, like new sofa for $200 to put in its place.


This is the sofa we sold. It will go in his pool table/rec room.
https://photos.app.goo.gl/TgGZJM9qH2dCc4Rs6

[SteveA]

I had to look up incliner - first I thought it was a typo but you wrote it twice.  I had heard of a wall away but never incliner.  I guess being born in the bronx there weren't many folks who had an incliner.
Now if you want to know where to play a number or get the best mozzarella - that I can tell you  -
SA

[kodydog]

I've always called a sofa that reclines on both ends an incliner. I think the main difference between a incliner and a recliner is an incliner does not stretch out into the full horizontal position like a recliner does. This allows it to be positioned closer to a wall. And when we delivered the sofa the customer was concerned about this. I reclined one side and showed him that with the sofa only 2" away from the wall it could still be inclined. He was pleased.