What is "Flipping Guitars"?

Hey all,

My name is Collin. I live in central Illinois. I love music. And that's the basics.

I love to buy and sell guitars, along with some other instruments. I've always been interested in finding great deals on instruments and making a tidy profit, but I also enjoy getting instruments into the hands of people who will really appreciate them.

Where do I find these instruments?

In my area, I've got a few pawn shops, plus there's Craigslist and other online forums. Typically, "the flip" starts with the pawn shops or Craigslist, as that's where you'll find instruments underpriced and under-appreciated.

I've already got a few stories to tell, so bear with me as I assemble those stories. In the meantime, I'll start talking about my current score, and the ways in which I might flip my way up.

How does flipping work?

In most cases, the people who really want decent instruments are musicians themselves. If you've heard any jokes about musicians, they mainly revolve around them having no cash. While that may be a broad over-generalization, in my experience it is somewhat true. However, these musicians also have a steady stream of instruments they're willing to give up for the right one, if it comes their way.

A "flip" is over once the gear I have turns to cash, and I'll add up what all I've gotten from the flip. Some flips are pretty long -- a guitar for another guitar, then traded for some pedals and a guitar, traded for an amp...and so on. Sometimes I'll keep the instrument or gear that I've traded. I take pride in the fact that, technically speaking, I haven't spent a dime on the instruments I currently have, as I've made enough profit from my flips that I have been able to account for every dime spent. That doesn't mean I'm a penny pincher, as I'm definitely a spender. But I also have a wife and family and do not want to impinge on that by using money intended for my family on personal things.

Make sense?

So if I get a new piece of gear, paying with my own cash, that's the start of a new "flip." I'll probably have several "flips" going as I move to recuperate my original funds and make profit off of the instruments or gear. Hopefully you'll learn from this on the savvy way to make a little income off of this. This is not a living. I have a full-time job. To continue to provide my need to try out and own new gear, this supplies the money for that. Got it? Great! Let's get started...