Wind tunnel experiments are often performed for the identification of aeroelastic parameters known as flutter derivatives that are necessary for the prediction of flutter instability for flexible structures. Experimental determination of all the eighteen flutter derivatives for a section model facilitates complete understanding of the physical mechanism of flutter. However, work in the field of identifying all the eighteen flutter derivatives using section models with all three degree-of-freedom (DOF) has been limited. In the current paper, all eighteen flutter derivatives for a streamlined bridge deck and an airfoil section model were identified by using a new system identification technique, namely, Iterative Least Squares (ILS) approach. Flutter derivatives of the current bridge and the Tsurumi bridge are compared. Flutter derivatives related to the lateral DOF have been emphasized. Pseudo-steady theory for predicting some of the flutter derivatives is verified by comparing with experimental data. The three-DOF suspension system and the electromagnetic system for providing the initial conditions for free-vibration of the section model are also discussed.