Storage Auctions

What items to look for?

Offline Henry

What items to look for?
« on: March 14, 2015, 05:33:48 PM »
Iíve been watching the storage auction shows on TV for some time.  I think Iím ready to give this a try.  What are some things I should look for when they open up the locker?  What items do you see that you always make you bid?

Offline Travis

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Re: What items to look for?
« Reply #1 on: March 14, 2015, 05:42:48 PM »
Everyone is different, but I like high end furniture, appliances or rooms with a theme.

Offline Henry

Re: What items to look for?
« Reply #2 on: March 15, 2015, 07:04:24 PM »
That is a good point.  Iím going to buy a few lockers and see what happens.  Iíve never done anything like this before.  Iíve just seen it done on TV.

Offline MikeMilez

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Re: What items to look for?
« Reply #3 on: March 23, 2015, 04:12:09 PM »
You want to look for stuff that you know will sell. This includes tools, modern appliances, quality furniture, etc. Steer clear of garbage. Despite what the show portrays, most garbage units are just that. And no, there is no bar of gold in that pile of trash.

Re: What items to look for?
« Reply #4 on: December 16, 2015, 03:10:36 AM »
You should look out for features that often attract buyers like the good condition of the items, furniture pieces, electronics, automobiles, and anything sellable. If the storage unit gets opened up and all that you get to see are boxes and newspapers, you probably should not go for that one. However, what lies underneath the surface could sometimes surprise you.

Offline Travis

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Re: What items to look for?
« Reply #5 on: March 31, 2017, 08:36:21 AM »
You should look out for features that often attract buyers like the good condition of the items, furniture pieces, electronics, automobiles, and anything sellable. If the storage unit gets opened up and all that you get to see are boxes and newspapers, you probably should not go for that one. However, what lies underneath the surface could sometimes surprise you.

If the locker goes cheap enough, sometimes its worth the gamble. Paid $5 for a unit that had 3 boxes, scattered newspapers and a 20" CRT TV. What intrigued me was on the side of one box, "Grandma's Keepsakes" was written. Gamble paid off. It was filled with Asian pottery and dolls. The other box contained Noritake China with about a hundred pieces. 30 or so pieces were quite rare. I've still got the set, just haven't gotten around to piecing it out.

Paid $5 for another unit. Just 2 boxes labeled "clothes." Turned out to be full of brand new designer clothing with the tags still on them. Even found a pair of Louis Vuitton high tops. Don't think I made any money on that unit, the wife kept everything.

Re: What items to look for?
« Reply #6 on: May 03, 2017, 08:26:28 PM »
Paid $5 for another unit. Just 2 boxes labeled "clothes."... Don't think I made any money on that unit, the wife kept everything.

If the wife is keeping the clothes and not otherwise clothes shopping, then you made money! ;)

Offline alloro

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Re: What items to look for?
« Reply #7 on: May 04, 2017, 08:09:55 AM »
Yep, a penny saved is a penny earned!

Offline Travis

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Re: What items to look for?
« Reply #8 on: May 05, 2017, 05:26:16 PM »
If the wife is keeping the clothes and not otherwise clothes shopping, then you made money! ;)

Ain't that the truth. I think there's an important point here. Profits don't just come from a big score. If I only sell enough items to make my money back on a unit, but I keep a few hundred dollars worth of items that I would have buy anyway, I call that a win. eg. paper towels, household chemicals, new sponges, cookware, utensils, markers, laundry detergent, sandwich bags.

Now, most of these things are fairly inexpensive, but the money really adds up fast. Have you ever heard the old saying "it's not how much you make, it's how much you spend"? Think that came from the book "The Millionaire Next Door."

Re: What items to look for?
« Reply #9 on: May 15, 2017, 02:27:54 AM »
I think you get better at it with experience. Every person will have an expertise at appraising certain items and you should use that to your advantage. I would say that as the new kid on the block you might need to scout the people around you before you start bidding too otherwise you might end up getting bid up by the other more  veteran storage hunters that are at the auction with you. Good luck!

Offline Travis

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Re: What items to look for?
« Reply #10 on: May 16, 2017, 11:17:25 AM »
Every person will have an expertise at appraising certain items and you should use that to your advantage.

Good advice!

Offline ChristopherJames

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Re: What items to look for?
« Reply #11 on: October 24, 2017, 10:41:00 PM »
I personally think that you should play it safe the first few times that you go into an auction until you know the playing field a bit better. Don't spend money on something that you're not sure you would earn money on or you'll end up flushing money down the drain, and fast. Also, don't be too optimistic about how easy it is to sell things once you've bought them. There's a lot of work going into getting things to move that you don't see!


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