Storage Auctions

Specialties

Specialties
« on: January 10, 2014, 08:06:03 AM »
One of the draws of storage auctions for me is the variety of items I have come across.  But it seems lately I have done really well with washer and dryers.  I have done some research and found ways to clean and repair many of the ones I have gotten and have been doing well selling them.  Just basic cleaning and painting usually does the trick as most of the ones I get are working fine.

Do you guys have specialties that you have found by accident?  As I buy more and research more it also makes picking a lot easier since I know what to look for now.

Offline Travis

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Re: Specialties
« Reply #1 on: January 10, 2014, 09:06:09 AM »
I love reselling used washer and dryers as well as mattresses. Almost any matching washer & dryer set that works will bring at least two hundred and they always sell within 48 hours. I love seeing a washer dryer set in a unit because I know that's a guaranteed return. I've probably bought 50 or more washer and dryer sets in the past 4 years. I never tested any of them and not one of them was ever returned. Most of the washer & dryers you find in a unit are going to work because they're almost a necessity, especially for a family . When they break, people need to fix them quickly. Not only that, who wants to pay to store something that large that doesn't work?

Offline MovieMan

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Re: Specialties
« Reply #2 on: January 10, 2014, 09:52:52 AM »
After 15 years my Sears washer crapped out. I went to a flea market friend who just happened to have a single washer (no dryer) he had gotten in a locker. He hadn't tested it but guaranteed I could return it if didn't work.

It worked. My cost...$20 and it's still running 8 years later.  It always amazes me that people buy "insurance" policies on new washer/dryers, refrigerators, etc.  They can sell those and make money on them (the policies) because these items have a long-life.

I only bought one policy on an item and that was a laptop when they first came out and cost $1,000 for even a base model. I forget how much the policy was but 3 years later it paid off when the thing failed and they gave me a new one.  Now of course you can buy a base model for $300 or so and they are still pitching those policies.


Re: Specialties
« Reply #3 on: January 10, 2014, 10:01:45 AM »
I specialize in mid century collectibles, furniture, etc. Vintage stuff from the 40's to the 70's. I do have antiques as well and do well with them depending on what it is. Primatives seem to do very well. People are amazed when they come in and I can tell a whole story about a particular item. They get an education with their visit. Of course I have to sell the everyday stuff too, but I'm always excited to pull out strange or unique gems from a locker.

Offline Travis

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Re: Specialties
« Reply #4 on: January 10, 2014, 10:23:09 AM »
After 15 years my Sears washer crapped out. I went to a flea market friend who just happened to have a single washer (no dryer) he had gotten in a locker. He hadn't tested it but guaranteed I could return it if didn't work.

It worked. My cost...$20 and it's still running 8 years later.  It always amazes me that people buy "insurance" policies on new washer/dryers, refrigerators, etc.  They can sell those and make money on them (the policies) because these items have a long-life.

I only bought one policy on an item and that was a laptop when they first came out and cost $1,000 for even a base model. I forget how much the policy was but 3 years later it paid off when the thing failed and they gave me a new one.  Now of course you can buy a base model for $300 or so and they are still pitching those policies.

I don't buy warranties either, except on items that are prone to problems...like gas powered trimmers. 5 year warranty was $20. $4 a year for peace of mind. It's so frustrating trying to get those things to start after they've haven't been used for a while.

Re: Specialties
« Reply #5 on: January 10, 2014, 12:54:36 PM »
I've probably bought 50 or more washer and dryer sets in the past 4 years. I never tested any of them and not one of them was ever returned.

That seems like a pretty ridiculous statement and not a good business strategy. Using that logic, do you test anything ever from a storage locker? Sure people throw around the comment 'why would they store it if it didn't work' but that also could be the very reason it IS in storage, because it needed parts they never got around to fixing.

Back on topic, Mattress sets are my hottest sellers as well. Most people turn away from mattresses in units, but if they are clean and decent its easy money.

Re: Specialties
« Reply #6 on: January 10, 2014, 04:17:58 PM »
I have found that I like vintage jewelry. I don't wear alot of jewelry but I have found it to be very interesting and am learning quite a bit about it. I really didn't realize how expensive some of it can be. It doesn't hurt that I have several pricey pieces from a couple of units. I have been building my Etsy store and am doing quite well with it. Another plus is it doesn't take up alot of room.

Offline Alias300

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Re: Specialties
« Reply #7 on: January 14, 2014, 10:05:38 AM »
I've been doing copper cookware.  Can pick up a dented pan with bad lining for $5-$20.
It was a learning curve but with experience in autobody it wasn't to hard to learn to fix the dents.
Re-tinning I'm still not great at but can get it down.  I see video's of guys doing it it 3-4 minutes.....takes me 3-4 hours!   That's where the money is.  Retinning costs $5-$6/inch.   [Base+(2x)hieght] So a 10" pan with a 2" hieght can be $70+.  And they charge shipping, each way, at $15 minimum.  Figure $20 cost, $70 retin, $30 shipping.....not much room for profit.  Do it yourself?  About a buck in tin, a buck or two in propane and couple bucks in supplies.

I've sold pans in for hundreds.

Took a while to figure out what pans are good.  Got burned on some.  Now I can pretty much pick up a pan and tell from color, weight and design where it was made without having to examine it.  But I'm still learning.   I picked one just last week that I thought was good.  Paid $10 and it's selling for $20.   Only good thing is it has a lid.  I can swap it over to another pot and raise the price.  People will pay a lot more for pots with lids even if its not a matching one.....

Offline rulesforrebels

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Re: Specialties
« Reply #8 on: January 14, 2014, 01:30:45 PM »
yeah i fell into my current business strictly by accident. like you said its great having storage auctions great way to get merch, variety of stuff, good margins.

the problem however is b/c you never have a consistant item buyers dont really have a reason to come back. the guy who buys the xbox you sold today is not going to be interested in the thomas the train toys or baby clothes you have for sale tomorrow so you dont get repeat buyers which are the best. its easier to keep a client than get a new one and also once you have a rapport with someone they dont bother you about stupid questions or being a day late on shipping so easieer to deal with.

for example if you sell gun accessories not only do you get repeat buyers but the guy who buys your speedloader will probably also be interested in a holster and a flashlight however when your selling random stuff your rarely going to get someoen buying multiple items


xx
Picking specialties

Started by mhuynh9

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Last post January 10, 2014, 07:01:24 PM
by Travis