Teams Battle for Title of Top Flea-Market Flipper

"GMA's" Lara Spencer previews her new show where teams find tag-sale items to refurbish and resell.
3:22 | 03/15/13

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Transcript for Teams Battle for Title of Top Flea-Market Flipper
Look at that. ♪ look at that. That's nice. It's gone. Every dollar counts. It's all in the final process. Welcome to "flea market flip" where two teams armed with sky's the limit design dreams. I was thinking of maybe lightening them up somehow. Make do with a very down to earth budget of $500. With the best price. 180. Just one hour to race against the clock and each other. You're going to have to look and really dig for the treasures. You think you can? With a little help. How are you going to make this design and not danger. These diamonds in the rough will be transformed from junk to gems. Then resold. All right, guys. 125. Perfect, thank you so much. Whichever team wins they go home $500 richer. That one chance and big risk Being part of the show inspires my inner picker. Oh, my god. What about this. Picker. Make sure your piece is not plugged in when you do this. And flipper. Sold. ♪ this has an entire trunk filled with artwork that all came out of a house and he said a dollar a piece. How do you know I'm not going to find a lost picasso. I hope you do and we'll split it. He's got frames here for a buck apiece. They were a dollar each and i went with all similar shades of brown, if you're going to do a gallery you want there to be a theme or a color that runs through. Nice to see you. Caught my eye across the way. I want to get this one. I don't know who the artist is but clearly very talented. I'll get this. I sold one for 50 and spent $10 on all of them. Even selling one I made a profit. After paying $1 a piece and another $1 each with the frames I'm walking away with $48 in profit. Not bad for a $2 investment. Vintage desk and chair. Asking $90. This is good. The chair has a great shape. I would change out these knobs and I guarantee you we could make a profit. It's priced at 90. Kind of the end of the day, what are you feeling. Bottom price? Bottom price. 68. 68. Random but I like it. On the left, a super fun modern fabric. Change this. The solid wood. Has its original key. Can we get 170 for it? Are you doing it with the chair? Would you do 180. Yes. I would. You guys take credit cards. Sure. Enjoy it. Thank you. I will. Sad to see it go. Turns out I can sell the chair on its own for more faneuil if i sold it as part of the set. Would you take $100 for it? Would you do 110? I'll do 110. Deal. So after paying a total of $68 for the desk set, I sold the desk for 180, the chair for 110 for a total of $290 and that's profit of 222 bucks. Drinks are on me, team. Drinks are on me.

This transcript has been automatically generated and may not be 100% accurate.

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