Sell Used Auto Parts And Make BIG Money Like Barry Did!

Sell used auto parts? What?! I thought this site was about buying and selling used cars? It is, but one of my readers of 'The Lazy Way To Buy And Sell Cars For Profit' took what he learned and put a very profitable twist on it...

"Hi Steve, The principles in the 'The Lazy Way To Buy And Sell Cars For Profit' are very sound. I’ve applied them in a slightly different automobile “market” than Steve discusses, but with similar results. Instead of buying used running cars to re-sell, I buy either running or non-running “project cars.”

I specialize in British sports cars – such as MGB’s, MG Midgets, and Austin Healey Sprites. They’re rare and there are a lot of people nationally who restore them… and are willing to pay quite a price to get an original part. The fact that these cars haven’t be sold in the U.S. since 1980 make them increasingly rare and valuable. While I’m willing to do the more expensive cars – like Jaguars, Morgans, and the big Austin Healeys – I prefer to stick with the MGB’s, MG Midgets, and Austin Healey Sprites because there were more produced… more product available and a lower price for a bigger market.

In one case, I bought a 75 MGB that a friend had stored away for five years after he realized he wasn’t ever going to finish restoring it. He called me to ask if I was interested and I told him I’d be buying it for re-selling the parts so I wouldn’t be able to pay him what it was really worth. He said he only needed a little… just enough to buy a new head for his 675 hp racing car.

I ended up paying $1200 for the entire car: Body, brand new re-built engine, and crates of new and used parts. I kept about $600 worth of parts for my own two MGB’s, then started selling the other parts. My “marketing” consisted of using eBay, my own website, the website of the Reno MG – All British Car Club, ads in the British Marque Car Club News, an ad in the North American MGB Registry, telling my British car mechanic what I had, word-of-mouth to fellow MGB owners, and newspaper ads.
The more “discreet” I make the product, the more money I make – for example, selling a dashboard with all the instruments might bring $110… however, by stripping out the instruments, I can sell the dashboard itself for about $80, the speedometer for $35, the tachometer for $35, the oil gauge for $25, the fuel gauge for $25, the clock for $25, the light switch for $20, the brake check light for $20, and the other switches and bezels for maybe another $50.

I ship these parts by USPS, UPS, or bus all over the nation (with the purchaser paying for freight costs). After keeping out many parts for my own MGB’s, I ended up making almost $6,000 on this project!

Just a couple of weeks ago, I bought a 65 Austin Healey Sprite and a 69 MG Midget (both fairly rare cars) along with two extra transmissions, two extra engines, 12 wire wheels, 5 regular wheels, new hubcaps, five brand new tires, extra doors, extra hoods and trunk decks, brand new upholstery and carpeting kits, extra windows, and crates and crates of other parts. The parts alone filled an 8’ x 12’ storage shed and a 12’ x 16’ storage building.

I took my time buying all this. He kept calling and emailing me back over a period of a couple of months, letting me know I was his only real prospect. The guy originally asked $3,500, but I told him there had to be enough to make a margin while taking a risk. I ended up paying just $2,000 for all these parts. I even got him to agree to store some of the parts for up to nine months. Meantime, I did my research and believe I can resell them for a total of somewhere between $5,000 and $8,000!"

Submitted by: Barry Barnes of Reno, Nevada Click Here To Submit Your Own Article

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