How to Price Flipped Furniture

Understanding the worth of your furniture is essential for pricing your furniture strategically.

It’s important to understand where the goldilocks zone for flipped furniture is. If you price your furniture too low, you won’t get much interest, and it could potentially take many months to sell the furniture. If you price your furniture too high, you might sell it quickly, but you might be leaving money on the table.

Fortunately, there are some good rules of thumb to follow when selling flipped furniture to maximize profits. In this post, you can discover how to price flipped furniture.

What to consider when pricing refinished furniture

Furniture should be priced based on its value, and how much people will pay for it. Unfortunately, determining the value of the furniture is a matter of educated guessing. There is no hard and fast formula that you can use to perfectly price your furniture.

However, by taking the following factors into consideration, you can take an informed approach to pricing your furniture:

Variety and size of furniture 

The type of furniture you are attempting to sell is one of the most important factors when pricing your furniture. After all, some types of furniture are generally more valuable than others. Below you can see the range of value for commonly used furniture:

Take the furniture’s size into consideration as well. Generally speaking, bigger furniture is more expensive than small furniture. All else being equal, a large dresser will sell for more than a small dresser. Thus, the best furniture to flip for the most profit is generally on the large side.

Quality of the furniture

The quality of the furniture is most important to consider when pricing your furniture. Cheap furniture from IKEA will never sell for the same price as sturdy, high-end furniture.

A good quality paint job can certainly increase the value of the furniture. However, the quality of the furniture itself is much more telling of the value of the furniture, and the price it will sell at.

Condition of the furniture

Does your furniture still look pretty beat up after you refinished it? Can you see scratches and dents in the furniture even with proper prep and two coats of paint? Do the drawers slide smoothly?

These are the sorts of questions you should ask yourself before pricing your furniture. If your furniture is in bad condition, it might not sell for as much as you would hope.

Quality of the refinishing

The quality of the refinishing makes a big difference in how much it can sell for. A professional-looking paint job can increase the value of a used piece of furniture by 50%-100% or even more in some cases.

Comparable sales in your area

Possibly the best way to gauge the value of a particular piece of furniture is to keep your finger on the pulse of your local market.

Let’s say you plan to sell a dresser in the future. For the next few weeks, monitor the listings for used dressers on Facebook Marketplace. This will give you some valuable first-hand data on how much this particular type of furniture is selling for.

After weeks of keeping up with this research, you will develop a keen sense of how much you can sell your refinished furniture for.

Ready to take your furniture flipping game to the next level? Learn how to flip furniture here. 

How to maximize the sale price of your flipped furniture

Adding value

Painting furniture is the most common way for furniture flippers to increase the value of their furniture. However, other methods can make a massive difference in terms of the furniture’s perceived value:

  • Top coat: A top coat of wax or polyurethane is an excellent way to protect your furniture. This is the final step of the furniture painting process that not everyone does. However, it doesn’t take long and it’s a nice touch that buyers appreciate.
  • New legs: New legs for dressers, nightstands, or bookshelves are a great way to breathe new life into furniture when done tastefully.
  • Hardware: New hardware can dramatically increase the value of a piece of furniture especially if the old hardware is horribly dirty or corroded.

Related: Where to Sell Flipped Furniture: 7 Best Places

Optimize your listing

To make the most from your furniture, the refinishing process is only half the battle. The way you present your furniture is just as important.

Take excellent photos of your work. To make sure your photos come out amazing, do the following:

  • Use a good quality camera if possible
  • Make sure there is good lighting
  • Avoid any clutter from the frame of the photo that could distract people from the furniture itself
  • Take many photos at all angles of the furniture

Additionally, be as descriptive as possible in your furniture listing. List the dimensions of the furniture, the color you used, the finish, and explain the steps you took to refinish the piece. Buyers value transparency more than anything, so the more detail you can provide, the better.

Price your furniture high at first

Come up with a realistic range for the furniture’s selling price. List your furniture at the top of your range.

If your piece isn’t getting many clicks or views after a few days, drop the price by 10%. Monitor the engagement for a few more days, and if the listing still isn’t getting much engagement, drop the price again. Continue this process until messages start coming in from prospective buyers.

Pricing your furniture at the high end initially and gradually dropping the price will ensure that you make the most from your piece.

How NOT to price your flipped furniture

There is a lot of bad advice out there for pricing refinished furniture.

For instance, some will say that you should price furniture based on how much the materials cost, and the profit margin you want on the sale. For instance, if you buy furniture for $50 and supplies for $20, and you want to achieve a 30% profit margin, you would price the furniture for $100.

This approach is nonsensical for a few reasons. For one, just because you want a certain profit margin on the sale, doesn’t mean the price you set for your furniture to reach your desired profit is reasonable. People buy furniture based on the value of the furniture, not based on how much you subjectively think you should make in profit on the furniture.

Some will say that you should take the hours you invested into the project into account when pricing your furniture. The more time you invest in your project, the more you should sell it for.

This pricing approach also doesn’t make any sense. Again, people looking for used furniture to purchase care about the value of the furniture. The amount of time you spend working on your furniture is beside the point. If you invest five hours into prepping and painting a dresser, and you believe your time is worth $25/hour, that doesn’t necessarily mean that the furniture must be worth $125 more than it was before you refinished it.

Ultimately, it’s important to objectively evaluate your furniture based on it’s size, quality, and what similar furniture pieces sell for on Facebook Marketplace. 

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