This is a great article and very true

storageauctionsystem.com/1/post/2011/4/storage-auctions-how-to-find-the-best-auctions.html

Very true. Thats always how i gage auctions.

Great read.

After seeing first hand last month the Public Storage caravans that bordered Detroit, I don't ever think I will do those again.  Not only is the auctioneer painfully slow, alot of the item were truely ****.

Okay, where do I begin? Oh yeah, the guy who wrote this is a total idiot and if you take his advice you'll be missing countless opportunities to make money in this business.

He wrote:
Many (maybe even most) storage auctions have 90%+ trash that no one wants, and can't provide more than a few dollars (if any) profit.

My response: B.S.
Less than 15% of storage units contain worthless trash and they're easy to spot. Most storage units contain common household items, appliances, furniture, decorations, clothing, tools, electronics or the remnants of a failed business. All of these items have value especially to people that have garage sales, sell on Ebay or own thrift stores; basically anyone that has the ability to sell the items piece by piece.

He wrote:
The area that the storage auction is located in is a very important piece of information.

My response:
Don't judge a book by it's cover. Some of the best units I have ever bought came out of rough areas. The truth is that you never know what you're going to get and if you only go to auctions in nicer areas, you will be missing some incredible bargains. Because a lot of people think just like this guy, you can bet that if you go to an auction in a wealthy area, you will pay top dollar for the unit.

He wrote:
Hardest to sell, most likely to be junk:
1) Household Items (Cleaning supplies, stuff from kitchen cabinets, toiletries)
2) Low end, Old Electronics
3) Low end, Damaged, Broken Furniture
4) Clothing
5) Mattresses and Bedding

My response:
This guy obviously has no idea what he is talking about with the exception of the broken items...and you need to be careful because even the broken items and damaged furniture can be repaired, they can have considerable value.

All of the other items sell like hot cakes at garage sales and flea markets. Even though it is illegal to resell a used mattress without sterilizing it, I have never had one take longer than 24 hours to sell on Craigslist. Clothing & household items priced cheaply at garage sales & flea markets sell fast, plus, most of these buyers will buy 10-20 smaller items at a time, so the money starts to add up quickly.

He wrote:
I spent nearly 10 years as the owner and manager of two storage facilities

My response:
So he basically just told you that he owned and operated a storage facility. This guy was not a storage auction buyer and the only thing he was selling was his delinquent units. He has no experience buying storage units nor reselling the contents.

He wrote:
Side Note: Actually, it has been my experience that the best units you can find are owned by Gay Men.  They always have great stuff, and they take care of it really well.  

My response:
I'm glad he is pleased with the condition of the high heels and garter belts, perhaps he can model them for us some time.

He wrote:
Stop wasting your time in high risk, low reward areas.  

My response:
I wonder what he means by high risk? Is he insinuating that it will be unsafe? I typically don't worry about my safety when I'm surrounded by 30-70 country fed boys, a quarter of which are probably packing heat.

He wrote:
Qualify your auctions by location and start making money every time you attend a storage auction.

My response:
That's just not going to happen. The only way to make money at every auction you attend is to follow the crowd with a concession trailer. Sodas, padlocks and batteries for flashlights sell quickly...lol

He can keep going to the auctions in wealthy areas, after all, he owns a storage facility, he can afford it. I will keep going to each and every storage auction I can go to, regardless of it's location. I don't discriminate between storage facilities because I know that you never know what you're going to find. Not only that, you can usually get some great bargains in the lower end areas.

This article is positive proof that you can be a millionaire and still be an idiot.

Moviemean, I agree with what you say, but I also disagree.

Agree that trinkets and **** can sell, but I'd honestly love to know how you can resell half used laundry soap or used toothbrushes! LOL

The area, at least in my area does have it's ****ty areas where you'd be better off buying a lottery ticket then the locker, but those are usually the storage facilities that border Detroit.  I'll still go to them when I can though, they are good for laughs and the occasional cheap pickup.

I'm still a noob in this business.  That said, the most useful information that I have seen/read is a compilation of youtube videos by glendon cameron.  Some people will denounce what he says, oh well.  His principle on this sort of thing is that you can find ****ty units in a nice community and nice units in a ****ty community.  no rhyme or reason at all.  His most valuable unit came from conyers GA  not exactly a domain for the creme de la creme.  Everyone has an opinion and yo uknow what they say about those......

Moviemean, I agree with what you say, but I also disagree.

Agree that trinkets and **** can sell, but I'd honestly love to know how you can resell half used laundry soap or used toothbrushes! LOL

The area, at least in my area does have it's ****ty areas where you'd be better off buying a lottery ticket then the locker, but those are usually the storage facilities that border Detroit.  I'll still go to them when I can though, they are good for laughs and the occasional cheap pickup.

Whoa...I think you have me confused with someone else who posted here...this is my first post in this thread!

I haven't read TCLane's post, but maybe you were referring to his thoughts?  I sell partial bottles of perfume, but it has to be a high-end brand.  I keep partial boxes of laundry soap and dishwasher soap for myself...saves some bucks!

I'm not a big fan of Glendon but I do agree with the point you just made.

My problem with Glendon is that he has been out of the business so long that a lot of the things he teaches aren't relevant in today's storage auction scene.

But who cares if you tell the public that the storage auction auction business is just peachy keen, as long as the books keep selling right?

As to the previous comment about half used laundry soap and toothbrushes:

Obviously, no one in their right mind is going to buy a used toothbrush, inevitably, you will have to throw some stuff away.

As to half used laundry soap, people will buy it. So what if you only make a buck or two on it. Selling the small insignificant stuff can mean the difference between losing and making money on a unit.

Not to brag or anything but I have bought hundreds of units over the past few years and I haven't lost money on one of them. Now I'm not saying that I haven't broken even on several on them but for the most part I always made a profit. The reason I made money in this business is because I only bid on units where I could see the return on my investment and because I was able to sell the items that others consider worthless. 50 cents here, a dollar there and it really starts to add up. I averaged $2,000-$2,500 every Saturday at my garage sales so I must have been doing something right. Perhaps you should give it a try, you might be pleasantly surprised with what other people will buy and how much money you make.

This happened today some fools were paying 325 for a grocery bag with papers one suit case that looked like it had papers a purse u could see inside was makeup and **** and a sports bag. Smh

A fool and his money shall soon part.

I averaged $2,000-$2,500 every Saturday at my garage sales so I must have been doing something right. Perhaps you should give it a try, you might be pleasantly surprised with what other people will buy and how much money you make.

I can see it now...."Garage Sale Wars !"  Watch this week as Texans compete against Floridians to see who can sell the most crap for the most money. Bonus !  Who will sell the ashes of somebody else's ex-husband, and how much will grandma's teeth in a glass bring?

You could sell the ashes as exotic tea and the teeth as...well I'm sure someone could make dentures out of them.

An Orbit gum commercial in the making, drinking a dead person while using their teeth..Dirty Mouth?

Whoa...I think you have me confused with someone else who posted here...this is my first post in this thread!

I haven't read TCLane's post, but maybe you were referring to his thoughts?  I sell partial bottles of perfume, but it has to be a high-end brand.  I keep partial boxes of laundry soap and dishwasher soap for myself...saves some bucks!

Sorry movieman, got you confused with tclane. Lol, epic fail on my part.

Sorry movieman, got you confused with tclane. Lol, epic fail on my part.

Come on man, get with the program. Can't you tell the difference between a spinning box and a cat wearing a hat made out of a lime? Just Kidding