GMA: Lara Spencer Flea Market Flip
Lara Spencer talked about her new show Flea Market Flip on Good Morning America March 15 2013. The idea is that two teams will go head to head finding, fixing and flipping their flea market finds for what is hopefully a good profit. The best profit-making team gets $5000. They have only one hour to race the clock and each other.
GMA: Lara Spencer Great Flea Market Finds
Lara Spencer said she’s been doing this since she was a young girl with her mother and it became a passion. In the clip, she riffled through paintings that were being sold for one dollar, with a frame thrown in for another dollar. The man was selling the paintings after they were found in a house. She bought all similar frames from the man and then set up a gallery at the flea market, with each of the paintings in the frames. She asked the man how he could sell the paintings for so cheap.
“How do you know I’m not going to find a lost Picasso?” she said. He said if she did, they can split the profit. She ended up selling one painting for $48, which is a nice profit considering she paid $2 for it. I don’t think she shared any with the man though.
She also flipped a desk and a chair, which she repainted and reupholstered. She sold them separately. The desk went for $180 and the chair went for $110, for a total of $290. She bought the set originally for $68, which makes that a profit of $222.
GMA: Lara Spencer Wheel Coffee Table
Lara Spencer said that flipping great finds for a profit is all about seeing things in a different way. For an example, she showed a clip of her looking at a very old wheel and axle. She said that she didn’t see it as a wheel, she saw it as a side table. She flipped it on its side and had a piece of glass cut to place on top. She said that she’s seen things like it at antique stores for hundreds of dollars, but she only paid $20 for the wheel.