Flipping
Race Director
Joined: Sep 2016
Posts: 13,180
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They are. There is a separate form the buyer has to sign and date which states the policy and that the buyer understands the policy. It's been posted online previously.
Drifting
Joined: Jul 2007
Posts: 1,634
Likes: 196
From: homosassa florida
Come on how many here have multiple deposits for new c8s with the intent to keep flipping them...Good for you for making money and keeping the economy rolling as long as there is a wait for these cars flippers will have it made but that time is coming to a end quickly. GM has found a way to end that and that is to charge more.
CF Community Team
Joined: Apr 2016
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From: Pittsburgh
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Pro
Joined: Jul 2021
Posts: 553
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From: Ohio
Come on how many here have multiple deposits for new c8s with the intent to keep flipping them...Good for you for making money and keeping the economy rolling as long as there is a wait for these cars flippers will have it made but that time is coming to a end quickly. GM has found a way to end that and that is to charge more.
Drifting
Joined: Aug 2022
Posts: 1,907
Likes: 791
From: Stamford, CT
I dont think you read my post
I have my financial advisor buy and sell stocks for me. I expect him to buy low and sell high to increase the value of my portfolio. Is he a "flipper?" According to some of the responses here he is a flipper. Do any one of you who despise people who flip cars invest in the stock market? It's the same principle.
I sold my C6 when the market went nuts in March 2020 because I saw a chance to get all the money I had paid for it 14 months earlier back plus 1/2 of what I had added in mods. I sold my 2014 MB E350 Cabriolet AMG in July 2020 because I wasn't going to lose as much on resale than I would in a regular market. We sold a house we had lived in for seven years in July 2021 when the real estate market was peaking and made a lot of money on it. I guess I am of the same character in some eyes here as a flipper.
I sold my C6 when the market went nuts in March 2020 because I saw a chance to get all the money I had paid for it 14 months earlier back plus 1/2 of what I had added in mods. I sold my 2014 MB E350 Cabriolet AMG in July 2020 because I wasn't going to lose as much on resale than I would in a regular market. We sold a house we had lived in for seven years in July 2021 when the real estate market was peaking and made a lot of money on it. I guess I am of the same character in some eyes here as a flipper.
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Joined: Mar 2007
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Le Mans Master
Joined: Sep 2017
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From: Rural NW Georgia. GO DAWGS!
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In the financial world, you are expected to 'flip' buy low sell high as they say so it's the actual business and profession of the people who engage in it. You selling existing assets because the opportunity arose, also not a flipper. A flipper is someone who is actively engaged in seeking markets where there are shortages and they swoop in and buy as much of that asset as they can afford with the sole purpose of taking advantage of buyers. A single flipper on their own is harmless. When many do it, they amplify the shortage effect and create a FOMO effect for the buyers which eventually cause many to pay above msrp.
Melting Slicks
Joined: Jun 2004
Posts: 2,090
Likes: 1,363
From: Macon GA
…having a hard time NOT flipping the Taylor Swift tickets I scored Tues.! I was able to snag 3, $49 tickets because that’s all that was left when I finally got in, but now they’re $1K seats! 🤦♂️😝
…my daughter would flip out if I did though 🙄
…my daughter would flip out if I did though 🙄
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Le Mans Master
Joined: Aug 2006
Posts: 5,319
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From: San Antonio, TX
I'm trying to think of a good analogy. Let's say a person is thinking ahead and buys a warehouse full of 20oz bottled water for $85k. Then waits until there's a natural disaster and the grocery store shelves are bare, and people need water. The guy shows up outside the grocery stores with a truck and trailer and starts selling the individual bottles for $10 each. He has every right to do so. Is he just a smart businessman? Is he an opportunist? A "flipper"?
Safety Car
Joined: Jul 2019
Posts: 4,079
Likes: 2,415
From: Florida
I think the difference here is the stocks don't have a MSRP... I don't think people mind the buying and selling but the "price gouging" is the thing that pisses everyone off.
I'm trying to think of a good analogy. Let's say a person is thinking ahead and buys a warehouse full of 20oz bottled water for $85k. Then waits until there's a natural disaster and the grocery store shelves are bare, and people need water. The guy shows up outside the grocery stores with a truck and trailer and starts selling the individual bottles for $10 each. He has every right to do so. Is he just a smart businessman? Is he an opportunist? A "flipper"?
I'm trying to think of a good analogy. Let's say a person is thinking ahead and buys a warehouse full of 20oz bottled water for $85k. Then waits until there's a natural disaster and the grocery store shelves are bare, and people need water. The guy shows up outside the grocery stores with a truck and trailer and starts selling the individual bottles for $10 each. He has every right to do so. Is he just a smart businessman? Is he an opportunist? A "flipper"?
To call that a proper analogy is rediculous imo.
Selling a Corvette for markup after buying it for msrp is just that. Its selling an in demand completely unnecessary luxury item for what market allows.
Last edited by bhvrdr; Nov 19, 2022 at 04:50 PM.
Race Director
Joined: Apr 2017
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From: Virginia
Melting Slicks
Joined: Nov 2021
Posts: 2,826
Likes: 372
Flipping is buying then quickly selling a commodity for a profit. Perfectly legal in our capitalistic society. Absolutely no reason to complain about it.
Last edited by IGTGI22!; Nov 20, 2022 at 09:46 AM.