Wednesday, August 3, 2011

Extreme Couponing for Motorcyclists

I get a kick out of that show "Extreme Couponing" because I've always looked out for bargains and hate paying full price for anything.  But I'm not so cheap that I buy poor quality stuff for my bike or my gear.  I paid quite a bit for an Aerostich Darien suit, but it's lasted me 7 seasons and despite replacing a few zippers, it's still going strong.  Likewise with helmets.  If you ride a lot, buy stuff that lasts.

When I went to plan this trip I started making a list of everything I would need to buy for the bike.  Some of it was must have, like a seat, while others were optional, like new SIDI boots ($375).  I panicked when I saw the final list as it was several thousand dollars, disposable income I didn't have.  This is where my bargain shopping and creativity skills were put to the test.

I've been on ebay for 12 years and go through spurts of selling stuff.  I've also been using Amazon and craigslist for some time to sell off my clutter.  I decided to get into selling again as a new hobby.  My goal was to raise as much money for the trip as I could, with the ulitmate goal of spending zero money on my bike.  In addition to selling stuff online I would also use some other "free" money sources:  cash back bonuses on my credit card ($200 total), travel checks from work, bowling league prize money ($150), gift cards from Christmas and birthday, even saving my pennies and cashing those in.

I created a spread sheet and put everything in.  Whatever I sold online had the profit computed to the penny.  With two weeks to go I definitely didn't break even.  But my strategy allowed me to buy over $3,800 worth of stuff for only $1,100 out of my pocket.

For my bike I was able to buy:  a new rear shock ($585 - saved money by negotiating a group rate with a buddy), a new Arai helmet ($395 after waiting 6 months for a sale and using 2 gift cards; normal retail is well over $500), luggage rack, bags, fix my bent valve, new seat, tires & tubes, battery, chain & sprockets and a tent.  I got the tent for half the retail price by cashing in $25 worth of pennies and rolling the money into a no-fee gift card.  I also used $28 in credit card points.

I had a lot of fun and many surprises on ebay.  My biggest sale was a $258 profit for selling a clock from a vintage VW bus:

I spent a lot of time cleaning it up and I even got it running again.  My friend Doug helped me do that.  I even made a youtube video about it, which I'm certain raised the price significantly. 

I also sold an old wooden steering wheel for a VW Beetle.  It was made by the same company that made wooden wheels for Shelby Mustangs.  I made $235 off that wheel.  I did a youtube video on this one too.


BTW, both of these parts were sitting in my mom's basement for about 17 years.  I bought them back in the '80's or '90's and probably didn't pay more than $10 for either one of them.

I got a whole box of old VW parts from my mom, including two mostly complete engines from the 1950's.  The engines, which had been the family joke because they were in storage over 25 years, sold for $250.  I had an original Hurst shifter for a Beetle that I made $128 on.

I sold a lot of other stuff on ebay and craigslist too:  old magazines, DVDs.  I made a profit on everything.  The lowest amount I made was 91 cents on 7 Captain America comic books from the 1980's.  That one hurt.  I could go on a rant about the fee structure of these websites too.  In some cases I was paying 50% in fees.  I tried to use craigslist when I could, but it doesn't work for everything.

In the end I got everything I put on that list and more.  Except for one thing.  Those damn SIDI Adventure Rain boots.  I'll get those when I get back.

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