What is the meaning of this sentence especially "Flipped it on"?

"They purchased a L400 recently from XYZ and immediately flipped it on and got very lucky"

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    It means "re-sell immediately". – Mick Sep 29 '16 at 16:03
  • Thank you. Do want to answer the question so we can close it? – OOzy Pal Sep 29 '16 at 16:06
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    It's too short for the site rules. Strictly speaking, I shouldn't have answered your question. Rather, I should have suggested that you look it up. Naughty me! – Mick Sep 29 '16 at 16:11

To "flip" something is a relatively new slang term that means to buy something and sell it shortly after. I've most often heard it used in the context of "flipping" houses in order to take advantage of a strong real-estate market.

"My cousin Becky made her millions flipping houses."

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    Used for acquiring something, not just buying something. For instance, in sports, a team could acquire a player and then flip him for a better one. – Alan Carmack Sep 29 '16 at 16:39

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