Storage Auctions

At what point do you throw it away???

Offline ChefJ

  • ***
  • 148
    • View Profile
    • Email
At what point do you throw it away???
« on: September 08, 2011, 09:08:57 PM »
I now have a house full of things, a 7.5 x 10 and a 10 x10 full of locker contents.  Most of it has "some" value to someone somewhere.  Most of it also is valued at less than5 dollars per piece, if that much.  At what point do you just start donating/throwing things away in order to keep the more valuable items in the rotation.  I am spending about 100 bucks per month on storage fees, which wouldn't matter if the products were turning over.

How do you handle your overstock???

Re: At what point do you throw it away???
« Reply #1 on: September 09, 2011, 02:12:01 AM »
Bro find a lil bodega type shop that sells random dollar items. Pack a box full and give em a good box price. Thats the first thing i do. I would never store **** that aint worth ****.

Offline acman

  • ****
  • 299
  • Buying lockers without paying retail, FTW!
    • View Profile
    • Email
Re: At what point do you throw it away???
« Reply #2 on: September 09, 2011, 07:03:06 AM »
Bro find a lil bodega type shop that sells random dollar items. Pack a box full and give em a good box price. Thats the first thing i do. I would never store **** that aint worth ****.

That's kinda my thought. Like stuff a box full of dollar items and go to a resale shop and ask for say a third of the total resale price.

Offline Travis

  • *****
  • 5484
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: At what point do you throw it away???
« Reply #3 on: September 10, 2011, 10:23:04 PM »
Run the small stuff through 2 garage sales. If it doesn't sell in 2 garage sales, there is a reason. Either you have it priced too high or its just a bunch of crap. I used to put an add under the free section of Craigslist and have someone else haul it off.

Offline jrossjr79

  • *****
  • 869
  • In it to Win it
    • MSN Messenger - jrossmakesmoney@gmail.com
    • View Profile
Re: At what point do you throw it away???
« Reply #4 on: September 11, 2011, 12:30:51 AM »
Run the small stuff through 2 garage sales. If it doesn't sell in 2 garage sales, there is a reason. Either you have it priced too high or its just a bunch of crap. I used to put an add under the free section of Craigslist and have someone else haul it off.

I agree with Travis on this, although I also use the free crap as a way to bring more customers in. Usually will have them come pick up free items same day and time I am having a yard sale.

And you can always just donate your left over goods and get your tax write off.

Offline Bandit

  • ***
  • 182
    • View Profile
    • Storage Battles
    • Email
Re: At what point do you throw it away???
« Reply #5 on: September 13, 2011, 07:42:07 AM »
 We usually break down and toss in the trailer any " Fall Apart Board " Furniture ,          ( and there has been a lot of that junk around lately ) plus anything else that looks really nasty for a dump run .
  Higher value items will go to our storage locker till it sells on Craigs ( ex. Lincoln tombstone welder going on Craigs for $ 125 today ) or into a friends monthly auction.    A lot depends on what We think We can get for it , the rest does One Yard Sale and takes Two Trips to the Flea Market before being Donated or just Tossed .
   It cost too much to store when You have to rent a locker or two .
We have a 10 W X 10 H  X 30 L locker w/lights and elec. for $ 165 a month and grab a second one when we need it .
Bandit

Offline ChefJ

  • ***
  • 148
    • View Profile
    • Email
Re: At what point do you throw it away???
« Reply #6 on: September 13, 2011, 11:07:10 AM »
my most recent 10x20 was stuffed with good, yet old electronics and things.  A LOT of 1-5 dollar items that I don't want to throw out, but its a pain to organize everything and get it prepared for sale on ebay/craigs.  My community only has 1 more garage sale scheduled for the year and its in the middle of october.  I guess we will see what happens.

Re: At what point do you throw it away???
« Reply #7 on: September 13, 2011, 12:06:07 PM »
my most recent 10x20 was stuffed with good, yet old electronics and things.  A LOT of 1-5 dollar items that I don't want to throw out, but its a pain to organize everything and get it prepared for sale on ebay/craigs.  My community only has 1 more garage sale scheduled for the year and its in the middle of october.  I guess we will see what happens.

Not being a smart ass, but, although you are correct in that 'all things have value to someone', at what point does it become more fiscally responsible to heave their 'treasure', because it has become your trash?
   If you're renting a storage unit at $100.00 a month, how much material is in it, and, every month that you sit on it you add to the deficit, how much more profit does it now need to generate just to break even?
   Spending a dollar to save a dime is not a wise business decision, as I'm sure you're well aware of as a business owner, J.
   Would it not be more beneficial to dump it off on  'curio shops, thrift stores, second hand stores and, if worse comes to to worse, the land fill, than to sit on it, draining $100.00 a month from your pocket, unless you have other things in the unit and need that much space?

Offline ChefJ

  • ***
  • 148
    • View Profile
    • Email
Re: At what point do you throw it away???
« Reply #8 on: September 13, 2011, 12:36:42 PM »
you are 100% accurate.  Which is why i made this post.  I recovered about 20 Mitchell and Ness throw back jerseys. 35 or so new, new era 59fifty fitted hats, and 4 pairs of airforce 1 shoes.  All are in new condition.  The rest of the locker is full of clothes and smalls.  I have yet to go through all of the boxes. 
My idea is to get through all of them, scrap the paperwork and other fillers and condense it down to organized boxes of sellable products.  The extra locker is 56 dollars a month and if I only need it for 1 or 2 months I believe it will have paid for itself.
I just didn't know if you guys saved smalls that were in that price range, and if so what the cycle was for them.
 Thanks again for your candid response.

Offline Cobia

  • ******
  • 1144
    • View Profile
Re: At what point do you throw it away???
« Reply #9 on: September 14, 2011, 08:10:21 AM »
I think it depends on whether you are a hobbyist or trying to run/grow a business.

A hobbyist has the luxury to squeeze the last bit of sales out of thier inventory before buying another unit, someone trying to make this business doesn't.

To keep it simple, as soon as the current inventory is keeping you from bringing in new & better inventory, it is time to move that inventory out. As far as paying for storage, you need to determine when the potential income of the inventory you are storing compared to the costs to store it, and the loss of that space for other inventory, is a negative return. Then you move it out. Donate, give it away, sell it real cheap to another reseller.

P.S. I finally get to post something, that server issue was terrible!

Offline ChefJ

  • ***
  • 148
    • View Profile
    • Email
Re: At what point do you throw it away???
« Reply #10 on: September 14, 2011, 09:58:37 AM »
I would say that this is more than hobby, yet less than a full time business.  I spend about 90% of my off time dealing with craigs/ebay.  I still work about 55 hours per week at my "real job", but am using this to support play money/retirement and what not.  Its a 7 day per week thing, but only may be for 1-2 hours at night wrapping sold items or listing others that haven't sold.  I hit up the auctions 3-4 days per week, and buy what is "my style" of locker i.e. nice smalls.  I just seem to have a ton of clothes at this point in time.
I treat it as a business in the sense that I am not going to make a poor decision on the usage of funds.  I am certainly not in it for the "treasure hunt" that all to many people are getting caught up in.  Everything has a value to someone, its finding that someone without losing money that seems to be the issue.

Offline otbg

Re: At what point do you throw it away???
« Reply #11 on: September 14, 2011, 10:40:46 AM »
I have a similar situation. What I "try" to do is once I have made a decent profit on the "big stuff", I will just load up the smaller, sell able items and bring them to a charity. I figure they can use it and I will just take the tax credit. I do not have the space to keep a bunch of stuff as i do not have time for flea markets and there are only 2 yard sales in my community a year. (gated community, so monthly yard sales do not pay off)

Offline jrossjr79

  • *****
  • 869
  • In it to Win it
    • MSN Messenger - jrossmakesmoney@gmail.com
    • View Profile
Re: At what point do you throw it away???
« Reply #12 on: September 14, 2011, 02:08:43 PM »
I have a similar situation. What I "try" to do is once I have made a decent profit on the "big stuff", I will just load up the smaller, sell able items and bring them to a charity. I figure they can use it and I will just take the tax credit. I do not have the space to keep a bunch of stuff as i do not have time for flea markets and there are only 2 yard sales in my community a year. (gated community, so monthly yard sales do not pay off)

Only one sad thing though. You can only get so much tax credit as an individual. As a business though you can get unlimited.

Offline otbg

Re: At what point do you throw it away???
« Reply #13 on: September 15, 2011, 11:37:27 AM »
Only one sad thing though. You can only get so much tax credit as an individual. As a business though you can get unlimited.

I do both. :)

Re: At what point do you throw it away???
« Reply #14 on: September 15, 2011, 02:46:15 PM »
I would say that this is more than hobby, yet less than a full time business.  I spend about 90% of my off time dealing with craigs/ebay.  I still work about 55 hours per week at my "real job", but am using this to support play money/retirement and what not.  Its a 7 day per week thing, but only may be for 1-2 hours at night wrapping sold items or listing others that haven't sold.  I hit up the auctions 3-4 days per week, and buy what is "my style" of locker i.e. nice smalls.  I just seem to have a ton of clothes at this point in time.
I treat it as a business in the sense that I am not going to make a poor decision on the usage of funds.  I am certainly not in it for the "treasure hunt" that all to many people are getting caught up in.  Everything has a value to someone, its finding that someone without losing money that seems to be the issue.

I'd also, if you've got those types of nice clothing items that aren't moving, go to a local thrift store and see if they'll give you a bit of cash for the items.  Yeah, you may only get fifty cents for each, but if you have a bunch, that could still be fifty or sixty dollars, and I'd rather have cash than a tax deduction!


xx
What's the point of feedback?

Started by Travis

6 Replies
3324 Views
Last post June 13, 2014, 04:12:58 PM
by rulesforrebels
xx
Throw it all in boxes,and let them dig for it

Started by mj74

9 Replies
5237 Views
Last post December 30, 2011, 08:18:57 AM
by money4nothing
xx
What's the point of sponsors having their own threads?

Started by rulesforrebels

3 Replies
2292 Views
Last post March 16, 2011, 07:39:06 PM
by Travis
xx
A little extra money from something you'd probably throw away

Started by Travis

11 Replies
10299 Views
Last post December 24, 2019, 02:27:54 AM
by clarkembers