Storage Auctions

Just a couple questions.

Just a couple questions.
« on: March 08, 2012, 10:56:09 PM »
I'm sure these questions have been answered multiple times but if someone wouldn't mind giving me answers as I've been trying to get them for awhile, that would be great.
My husband and I are planning to attend storage auctions as a hobby. We've never attended them before so here are our questions:

-What should we bring?
-What cash range would you suggest first timers to bring?
-Any hidden fee's?
-Storage and space-wise, what advice could you give to a young couple who lives in a one bedroom with a small car? Uhaul and rent a storage?
-If people knew they couldn't pay their bill couldn't they come and get their valuable? What about the owner of the storage location couldn't they go through and get all the good things?
Any other things we should know?

Also- I don't any advice on where to sale items. :)

I know some of these questions may seem silly, but we'd really like to know what we would be getting ourselves into before we start.


Re: Just a couple questions.
« Reply #1 on: March 08, 2012, 11:11:30 PM »
Spend some time reading the posts on this forum and you will get educated very quickly.

Start with this - good luck =====>,2305.msg15356.html#msg15356

Re: Just a couple questions.
« Reply #2 on: March 08, 2012, 11:26:43 PM »
Thanks! That answers some of our questions. I'm really excited to get started!

Offline money4nothing

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Re: Just a couple questions.
« Reply #3 on: March 09, 2012, 04:35:09 AM »
but we'd really like to know what we would be getting ourselves into before we start.


Welcome and yes using the search should answer most of your questions.

And to answer the one above a lot of work.  ;)

Re: Just a couple questions.
« Reply #4 on: March 09, 2012, 11:46:13 AM »
Welcome to the forums Adnara - you will find a wealth of info here.

I do this as a hobby myself.  Started out with $400 in gambling money and I normally hover around that point.  I see two main obstructions for you and your husband.  First, with a small car it will take you many more trips to clean out even a small unit.  This limits your buying options.  Second, is going to be space.  You can quickly run out of room unless you can turn and burn quickly.

Once you use the search button and have additional questions just ask.  If you want to clear up answers or questions you find in your searching just bumb the original thread.

The shows are still very popular right now.  So more and more newbies are hitting the auctions and have driven up prices.  So be patient, know what you want out of a unit, and hit up every auction that you can.

Offline Cobia

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Re: Just a couple questions.
« Reply #5 on: March 10, 2012, 05:51:34 PM »
Have you seen the TV show called Hoarders Adnara? If you aren’t organized from the start you might end up with a house or storage looking like some of the houses on the show.

The best advice I have is, never keep something “Because it will sell eventually.” I’ve seen some people do this and the stuff usually sits around for a long while. Then what you end up with is a storage that has nothing but stuff that nobody wants and being saved, “Because it will sell eventually.”

The whole idea is to turn and burn everything. Hang on to only valuables and donate everything else (or bulk sell it – real cheap) after the first or second time trying to sell it at the flea or yard sale. Don’t think you are giving stuff away with the donations. Donating has its advantages and don’t forget the receipt!

Welcome to the forum! – I wish you all the best with your new endeavor!

Yeeeepppp!!! Just took 17 totes to Goodwill Industries today and I will be claiming $400 for that load of donations.

Offline Cobia

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Re: Just a couple questions.
« Reply #6 on: March 11, 2012, 06:52:19 PM »
Did you keep the totes?  ;) ;D

Very nice ROI BTW!

Yep, kept the totes, gonna start selling the ratier ones for $1-$3 at the flea, starting to get overloaded with empty totes.  ;)

Re: Just a couple questions.
« Reply #7 on: March 12, 2012, 07:43:18 AM »
StorMe has a good point even if I disagree some.  Depending on how much space you have to store stuff you can quickly become a hoarder yourself.  Turn and Burn is mostly the name of the game if you are buying a unit or multiple units every week.  If not then you can take time and slowly sell items over a period of weeks.  Each person has their own system, you will have to find what works for you.  Myself I have the following setup:

Have 2 large buildings - seperated into 4 sheds.

Shed 1 - personal items, tools, etc. - is my primary sorting location
Shed 2 - flea market storage location.  Items I've sorted and ready to take to the flea.
Shed 3 - largest structure - holds large items and furniture that I'm selling on CL
Shed 4 - Scrap / Breakdown storage - daughter and I love tearing stuff apart that don't work.

I average about 2 units a month due to work constraints.  So I can take longer to sell stuff and shop the same items at the flea for multiple weeks.  I try to max my profit (ie scrapping).

I have learned that a few items I just automaticly donate to Goodwill.  Most cups, coffee mugs, etc. hit the Goodwill box.  Re-sorting but in the future most cloths will head to Goodwill.  All stuff animals and VHS tapes hit the Goodwill box.  Figurine and nick-nacks are iffy.  If they are the dollar store items they either get tossed in my $.25 item box if it's getting low or Goodwill.

High end cloths I've started to shop them on ebay and the flea.  Not much luck but will try few more times with them before donate.  Jeans seem to do ok this weekend being the first time I've taken cloths.  So those will get pulled out and put in seperate totes to take.  Kids cloths were slow but will keep few more times.

Holiday decorations I keep since I have the space.  Those totes get put up either in the flea shed or my scrap shed for Christmas, Halloween, etc.  Most people donate the stuff as they don't have space for it.  You can quickly get too much of it so if going to save only save the best.

Re: Just a couple questions.
« Reply #8 on: March 12, 2012, 08:59:19 AM »
Thought I did, but I've never been good with words.  For myself, I disagree with your view of keeping items, “Because it will sell eventually.”  With the amount of storage space I have open to me I keep things I think will sell.  Maybe I should say I keep things longer because I think it will sell then many other people will.  I do donate those same items after a much more extended period of time.  Example was the christmas decorations.  Do you keep those or donate them since the selling window for them is 7-8 months away?

I've kept a pair of Air Jordan baby shoes for 4 months before they sold at the flea for my asking price.

What is your idea of a timeframe to keep / donate items.  That is where the disagreement is in my mind.  To me it sounds like you turn and burn items and if they don't sell in that week or maybe two it goes.  Where for me I'd try those same items for months.

Info:  I only hit flea market every other week or so.  All depends on family schedule and weather.  I also do this as a hobby / time to spend with kids.  So the same pressure that applies to vendors / people who do this for a living don't always apply to me.

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