5 Traits That Make a Furniture Piece Unsuitable for Flipping
Are you thinking about diving into furniture flipping? It’s really fun and can potentially be quite profitable. However, not all pieces of furniture are great candidates for flipping. Below we will explore 5 reasons why you might want to pass on a particular piece of furniture.
1. Structural Issues
One of the biggest reasons I wouldn’t want to choose a piece of furniture for flipping is if it has significant structural problems. Sometimes it’s not about whether a piece CAN be fixed; but how much effort and money it would take to fix it.
Common structural problems which would cause me to pass on a piece include broken or wobbly legs, warped frames, damaged joints (this does not include broken drawer joints. those are easily fixed with some wood glue). If a piece is not fundamentally stable, it’s probably not worth the time and effort to fix for a profit.
2. Extensive Damage
While minor scratches and dings are a given in this business, extensive damage can be a deal-breaker. If the piece has deep gouges, missing parts (especially missing drawers), or water damage (DEFINITE NO), it is probably more trouble than it’s worth. I know from experience.
Instead look for furniture with minor cosmetic issues that you can address without compromising on overall functionality.
This dresser is missing 3 drawers; although you could make it into something cool (maybe); its not really worth your effort to do so. You won’t get more money for it & it will take a lot of effort (& tools) on your part.
3. Market Appeal
Before you invest time and money into flipping a piece of furniture, consider your market. Some styles or designs just do not sell well; regardless of how beautiful you make the piece. I personally tend to stay away from items that are extremely large or heavy (most people are not willing to take the hassle and move it). Take time to look into your local market and see what is selling.
This buffet hutch is so large there isn’t a photo of it put together. The description says it was originally priced at $10,000 and now its listed at 1/3 of that. This isn’t because it’s not WORTH it; but because it’s not an easily sellable piece!
This is an extreme example but I hope you understand my point of market appeal and what sells.
I also think about when i’m personally buying furniture; what pieces I would be looking for. For example: not many people are looking to buy just ONE nightstand. So be sure and stick to pairs only.
This does take some trial and error with figuring out what personally sells well for you but dressers seem to always be the easiest to sell for me.
4. High Cost
When you are flipping furniture for a profit; this is probably one of the most important factors to consider. The cost of acquiring said piece vs. the profitability of the piece. if you have to spend a significant amount of money upfront to purchase the furniture, it will eat into the potential profits. Be cautious when buying expensive pieces, and always factor in your expected resale price.
This piece is absolutely gorgeous. However, it is listed for $650. Meaning to make the flip worth it, you would have to sell it for upwards of $900-$1000 at the least. Although you MAY be able to get that; it could take a while to find the right buyer. Leaving you stuck in a financial hole for a couple of months or more.
I prefer to stay in the range of less than $100 but normally am able to score most of my pieces for FREE or less than $50. However, depending on the value of a piece I may be willing to go higher.
5. Limited Space or Tools
Successful furniture flipping requires space to work on projects and sometimes can require a lot of different tools and supplies. If you lack the workspace or tools, taking on a large or complicated piece of furniture may not be practical. Start with projects that match your resources and gradually expand your toolkit as you go!
In conclusion,
Although furniture flipping can be a very creative and profitable hobby or business, not all pieces of furniture are great candidates. In order to maximize your profit, take these 5 things into consideration when choosing a piece!
By taking these factors into consideration these factors, you can make informed decisions and choose pieces that offer the best chance of success in the world of furniture flipping.
Happy flipping!