There seems to be a big market for home fitness equipment

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CobraKai
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There seems to be a big market for home fitness equipment

Post by CobraKai » Tue Apr 14, 2020 10:40 pm

If anyone has some spare fitness equipment laying around and looking to make some money, there is a lot of demand for it right now.

A 300 pound Olympic set that previously sold for anywhere from $200 on is now being advertised on Ebay and Craigslist for $800! Someone posted on Craiglist (equipment wanted) stating that he is willing to pay $800 for a set.

I don't know if I'd be comfortable selling something like that right now with social distancing and all that, nor would I recommend price gouging, but it seems that any kind of exercise equipment is being sold for a lot more than it was previously. I've seen exercise bikes listed at garage sales for $5. Surely there is a lot more demand for them now.

Strange times we live in!

runner3081
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Re: There seems to be a big market for home fitness equipment

Post by runner3081 » Tue Apr 14, 2020 10:53 pm

"Advertised" can have little correlation to what something sells for :)

I have sold about 10 things on CL/FB, etc over the last week. Most of them patio pickup, but two more expensive items, including a guitar, today - person.

Outside of handing over the money, we never get within 6 feet. The money goes away without touching anything else in the house and then hands washed.

Topic Author
CobraKai
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Re: There seems to be a big market for home fitness equipment

Post by CobraKai » Tue Apr 14, 2020 10:58 pm

runner3081 wrote:
Tue Apr 14, 2020 10:53 pm
"Advertised" can have little correlation to what something sells for :)

I have sold about 10 things on CL/FB, etc over the last week. Most of them patio pickup, but two more expensive items, including a guitar, today - person.

Outside of handing over the money, we never get within 6 feet. The money goes away without touching anything else in the house and then hands washed.
Do you wear a mask during the transaction?

runner3081
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Re: There seems to be a big market for home fitness equipment

Post by runner3081 » Tue Apr 14, 2020 10:59 pm

CobraKai wrote:
Tue Apr 14, 2020 10:58 pm
runner3081 wrote:
Tue Apr 14, 2020 10:53 pm
"Advertised" can have little correlation to what something sells for :)

I have sold about 10 things on CL/FB, etc over the last week. Most of them patio pickup, but two more expensive items, including a guitar, today - person.

Outside of handing over the money, we never get within 6 feet. The money goes away without touching anything else in the house and then hands washed.
Do you wear a mask during the transaction?
No, I do not.

Kompass
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Re: There seems to be a big market for home fitness equipment

Post by Kompass » Tue Apr 14, 2020 11:01 pm

I have been thinking for a while about getting a concept2 rower based on all the BH recommendations. I decided last week to pull the trigger for working out at home. Apparently, I wasn’t the only one with that idea, when I checked on their website I was offered a spot on the waitlist. All inventory is sold out, factory shut down, unknown when any will be available. :(
The large print giveth and the fine print taketh away.

afan
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Re: There seems to be a big market for home fitness equipment

Post by afan » Wed Apr 15, 2020 8:18 am

This has made it clear that some people do get their money's worth out of gym membership. We hear about those who sign up and never use it. There are some who use it religiously and have to improvise when it is taken away.

Everything is on backorder and prices have gone through the roof. For weights in particular, local pickup sales was the best way to get them before the crisis. They are expensive to ship and never wear out. Perfect combination for buying used.
One big fitness company in my area is headed for bankruptcy. They were in poor financial shape before COVID came along. They tried charging monthly fees while they were closes but got sued. I am following to see whether I can pick up some used weights at a better price than new.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama

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jhfenton
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Re: There seems to be a big market for home fitness equipment

Post by jhfenton » Wed Apr 15, 2020 8:58 am

Kompass wrote:
Tue Apr 14, 2020 11:01 pm
I have been thinking for a while about getting a concept2 rower based on all the BH recommendations. I decided last week to pull the trigger for working out at home. Apparently, I wasn’t the only one with that idea, when I checked on their website I was offered a spot on the waitlist. All inventory is sold out, factory shut down, unknown when any will be available. :(
We have a Concept2 rower that I bought last May, but I was looking this weekend at a Concept2 BikeErg, mostly for my wife, but I would also use it. I discovered the same thing as you. I should have bought one a couple months ago when I was looking. :oops:

I'm a runner, so I don't miss the gym. I only keep a membership at the gym in my office building so that I have a place to shower when I run at lunch--or run or bike to work.

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Sandtrap
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Re: There seems to be a big market for home fitness equipment

Post by Sandtrap » Wed Apr 15, 2020 10:03 am

The Sole treadmill company recently cancelled my in home (full setup) delivery and gave me a full refund of $1500.
Shucks. 😩
j
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MotoTrojan
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Re: There seems to be a big market for home fitness equipment

Post by MotoTrojan » Wed Apr 15, 2020 10:05 am

I would feel infinitely safer doing a 1-on-1 transaction with hard cash (and care as noted above) than I do going to the grocery store right now, especially the significant amount of time spent directly across from the cashier (who does that with hundreds of people a day).

quantAndHold
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Re: There seems to be a big market for home fitness equipment

Post by quantAndHold » Wed Apr 15, 2020 10:08 am

I’d love to sell the power rack that we’ve been using as a clothes rack for the last dozen years. But we’re busy using it right now.
Yes, I’m really that pedantic.

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dwickenh
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Re: There seems to be a big market for home fitness equipment

Post by dwickenh » Wed Apr 15, 2020 10:25 am

Sandtrap wrote:
Wed Apr 15, 2020 10:03 am
The Sole treadmill company recently cancelled my in home (full setup) delivery and gave me a full refund of $1500.
Shucks. 😩
j
Just wait until everyone buys that expensive home gym, and in 6 months you can buy theirs at a bargain
price. Seems it is the only way to buy treadmills and such items. Many don't "stay the course".

:sharebeer

Best to you,

Dan
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

Slacker
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Re: There seems to be a big market for home fitness equipment

Post by Slacker » Wed Apr 15, 2020 10:54 am

MotoTrojan wrote:
Wed Apr 15, 2020 10:05 am
I would feel infinitely safer doing a 1-on-1 transaction with hard cash (and care as noted above) than I do going to the grocery store right now, especially the significant amount of time spent directly across from the cashier (who does that with hundreds of people a day).
Grocery stores around here have large plastic sheets between you and them and at least 1/2 the cashiers are wearing face masks of some sort.

Costco had 1/4" thick acrylic barriers that extend a good 1/2 foot over my head (I'm almost 6' tall).


The few 1 on 1 transactions I've had (exterminator, yard service) -> the employees keep their distance but aren't wearing any protective equipment.

MotoTrojan
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Re: There seems to be a big market for home fitness equipment

Post by MotoTrojan » Wed Apr 15, 2020 11:09 am

Slacker wrote:
Wed Apr 15, 2020 10:54 am
MotoTrojan wrote:
Wed Apr 15, 2020 10:05 am
I would feel infinitely safer doing a 1-on-1 transaction with hard cash (and care as noted above) than I do going to the grocery store right now, especially the significant amount of time spent directly across from the cashier (who does that with hundreds of people a day).
Grocery stores around here have large plastic sheets between you and them and at least 1/2 the cashiers are wearing face masks of some sort.

Costco had 1/4" thick acrylic barriers that extend a good 1/2 foot over my head (I'm almost 6' tall).


The few 1 on 1 transactions I've had (exterminator, yard service) -> the employees keep their distance but aren't wearing any protective equipment.
Local gas station had them (only place I can get liquor) but Walmart didn't as of a couple weeks ago.

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Re: There seems to be a big market for home fitness equipment

Post by Flyer24 » Wed Apr 15, 2020 11:12 am

Topic moved to Personal Consumer Issues.

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burgrat
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Re: There seems to be a big market for home fitness equipment

Post by burgrat » Wed Apr 15, 2020 11:16 am

I saw a guy selling a rust set of PowerBlocks and an adjustable bench asking $1,700. Normally that would maybe get $300. I doubt he will get anything close to that, but it's definitely an attempt to cash in on the demand.

I have personally been looking for a pair of 25lb hex dumbbells and I can't find them anywhere. Normally Wal-Mart carries them and they are around $50 for the pair, but there are none within 100 miles of me. I have a decent setup and needed these to round out my weight set, but oh well, I'll keep looking.

Turbo29
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Re: There seems to be a big market for home fitness equipment

Post by Turbo29 » Wed Apr 15, 2020 11:31 am

I was looking for 4-45lb plates to round out what I had in the garage (purchased off Craigslist but never used as I went to a gym). Both Amazon and Walmart accepted my order and then cancelled the orders at the last minute. Finally I purchased 2-100lb plates (the only size they still had in stock) from an online company and actually had them delivered. I won't say what I had to pay (the price was okay but the freight charge was murder), but that's what the stimulus checks are for, right? Anyway, it was worth every penny for me to get them. Now I can do practically everything at home that I was doing in the gym.
It is by the goodness of God that in our country we have those three unspeakably precious things: freedom of speech, freedom of conscience, and the prudence never to practice either of them. --M. Twain

Carson
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Re: There seems to be a big market for home fitness equipment

Post by Carson » Wed Apr 15, 2020 11:35 am

This kills me because DH has a lightly used Concept 2 rower in the basement. He's probably used it 5 times in the last 3 years. :oops: I'm sure he won't get rid of it even if he could sell it for a song.
30-something personal finance enthusiast, just get getting started on this whole portfolio thing.

H-Town
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Re: There seems to be a big market for home fitness equipment

Post by H-Town » Wed Apr 15, 2020 11:40 am

CobraKai wrote:
Tue Apr 14, 2020 10:40 pm
If anyone has some spare fitness equipment laying around and looking to make some money, there is a lot of demand for it right now.

A 300 pound Olympic set that previously sold for anywhere from $200 on is now being advertised on Ebay and Craigslist for $800! Someone posted on Craiglist (equipment wanted) stating that he is willing to pay $800 for a set.

I don't know if I'd be comfortable selling something like that right now with social distancing and all that, nor would I recommend price gouging, but it seems that any kind of exercise equipment is being sold for a lot more than it was previously. I've seen exercise bikes listed at garage sales for $5. Surely there is a lot more demand for them now.

Strange times we live in!
The way I see it is that I will have very good deal buying used squat rack and olympic 300 lbs weight set when things are back to normal. People are rushing to buy it now and creating a huge demand. Once gyms open up and people want to have space in the house, they gonna get rid of those equipment. That's when I come in and find value. :mrgreen: :dollar :moneybag

Topic Author
CobraKai
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Re: There seems to be a big market for home fitness equipment

Post by CobraKai » Wed Apr 15, 2020 11:59 am

MotoTrojan wrote:
Wed Apr 15, 2020 10:05 am
I would feel infinitely safer doing a 1-on-1 transaction with hard cash (and care as noted above) than I do going to the grocery store right now, especially the significant amount of time spent directly across from the cashier (who does that with hundreds of people a day).
Makes sense, although many grocery stores have plastic barriers between customers and the cashier, and you can still stay 6 feet away from other customers if you're careful.

HRPennypacker
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Re: There seems to be a big market for home fitness equipment

Post by HRPennypacker » Wed Apr 15, 2020 12:02 pm

CobraKai wrote:
Tue Apr 14, 2020 10:40 pm
The way I see it is that I will have very good deal buying used squat rack and olympic 300 lbs weight set when things are back to normal. People are rushing to buy it now and creating a huge demand. Once gyms open up and people want to have space in the house, they gonna get rid of those equipment. That's when I come in and find value. :mrgreen: :dollar :moneybag
This is true, unless you're like me and you need to squat/DL/etc ASAP to get through this pandemic. I bought a full setup from Rogue Fitness--it's finally been delivered, a month later--and I don't see myself going back to a gym until a vaccine is out and widely deployed. I figure it's 18 months, maybe more.

Topic Author
CobraKai
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Re: There seems to be a big market for home fitness equipment

Post by CobraKai » Wed Apr 15, 2020 12:02 pm

H-Town wrote:
Wed Apr 15, 2020 11:40 am
CobraKai wrote:
Tue Apr 14, 2020 10:40 pm
If anyone has some spare fitness equipment laying around and looking to make some money, there is a lot of demand for it right now.

A 300 pound Olympic set that previously sold for anywhere from $200 on is now being advertised on Ebay and Craigslist for $800! Someone posted on Craiglist (equipment wanted) stating that he is willing to pay $800 for a set.

I don't know if I'd be comfortable selling something like that right now with social distancing and all that, nor would I recommend price gouging, but it seems that any kind of exercise equipment is being sold for a lot more than it was previously. I've seen exercise bikes listed at garage sales for $5. Surely there is a lot more demand for them now.

Strange times we live in!
The way I see it is that I will have very good deal buying used squat rack and olympic 300 lbs weight set when things are back to normal. People are rushing to buy it now and creating a huge demand. Once gyms open up and people want to have space in the house, they gonna get rid of those equipment. That's when I come in and find value. :mrgreen: :dollar :moneybag
Just like stocks....buy low, sell high. :) j/k

stoptothink
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Re: There seems to be a big market for home fitness equipment

Post by stoptothink » Wed Apr 15, 2020 12:03 pm

I have had a few offers to buy some of the equipment I have and two gentlemen in my neighborhood (who I had never met) approached and offered money if they could use my garage. Didn't feel comfortable with it.

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Clever_Username
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Re: There seems to be a big market for home fitness equipment

Post by Clever_Username » Wed Apr 15, 2020 12:06 pm

This comment made my day:
dwickenh wrote:
Wed Apr 15, 2020 10:25 am
Just wait until everyone buys that expensive home gym, and in 6 months you can buy theirs at a bargain
price. Seems it is the only way to buy treadmills and such items. Many don't "stay the course".

:sharebeer

Best to you,

Dan
I was really regretting not getting around to setting up some home weight exercise options when this all started, and now seeing the prices I said nah and am doing bodyweight exercises. Amazingly, from start of January through mid March, I was really good at 3-4x/week getting to the gym.

Now I'm going to make a note to check again in September or October and so on, and set up my eventual home gym at bargain rates. Because you're right, it's very likely that's how it's going to play out. Thanks!
"What was true then is true now. Have a plan. Stick to it." -- XXXX, _Layer Cake_ | | I survived my first downturn and all I got was this signature line.

brianH
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Re: There seems to be a big market for home fitness equipment

Post by brianH » Wed Apr 15, 2020 12:09 pm

I've never been happier to have my basement gym setup. Full cage, plywood deadlift platform, leg press machine, flat bench, straight and trap bars, over #1500 of weights/dumbbells, and other assorted equipment. I put it together over the years for probably less than $1200 total.

I'm glad others now see how great it is to be able to get in a nice workout in 20 total minutes, without leaving the house!

ThriftyPhD
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Re: There seems to be a big market for home fitness equipment

Post by ThriftyPhD » Wed Apr 15, 2020 12:31 pm

afan wrote:
Wed Apr 15, 2020 8:18 am
This has made it clear that some people do get their money's worth out of gym membership. We hear about those who sign up and never use it. There are some who use it religiously and have to improvise when it is taken away.
I don't think you can draw that conclusion. While I'm sure there are plenty of gym rats struggling with the shutdown, I know many who now have a lot more free time on their hands. People who were sedentary starting to hike, jog, bike.

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