Storage Auctions
The Storage Locker => New to Storage Auctions? => Topic started by: JavaWriter on November 27, 2011, 05:32:03 PM
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What do you do with the stuff you bought? Suppose you have typical house hold items, washer/ dryer, and clothes? Do most of you own resale shops? Sell at flea markets? ebay or craigslist?
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Thats what a lot of this forum is all about!! How to sell the stuff! Browse around and youll be able to find a lot of helpful info! ;)
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Thanks, again, Drew.
I will take your advice and continue looking around. I will also continue to ask questions.
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All the above and the dump.
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Then you work long hours to sort, research, clean, restore, and sell what you can so that you can go back for more. Some people have stores and such. Many of us like myself do it part-time and work out of the garage / house. Others, do it full time and do booths at the flea or swap meets. Or they do numerous yard sales. It all just depends on your situation.
Before you buy your first locker you best know what you are going to do with the stuff. Keep it, burn it, sell it, trash it, or whatever it may be.
Buying a unit is easy.
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At risk of stating what others may consider obvious, it appears to me the way to be success in this venture is:
1. Have a plan on how to get rid of your stuff... highest return down to least expensive way to get rid of.
2. Have a place to work out of.
3. Once I'm solid on #1 and #2, it's a numbers game.
If I've got it all wrong or all right or somewhere in between, please feel free to chime in.
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You really do need to go to an auction and experience it before you even consider buying a unit. I went to about 8 before I actually bid and another 10 before I finally won a unit. I was too timid in the beginning and more than a bit nervous about gambling large sums.
Go to the auctions. When they open the door, quickly (and quietly) evaluate what you see. Do the 'mental' bid that MovieMan suggested (it's not only fun but a great way to gauge the crowd and your knowledge of auctions) and enjoy yourself.
It may all seem quite 'exciting' after watching folks on TV find numerous treasures, but I'll tell ya right now.....it's hard, dirty work.
As far the rest of your questions, from my personal experience:
We live on just over an acre, so we have plenty of room to store items, both large & small (there is an amazing amount of little, but valuable items).
We spend every Saturday at a local swap meet (flea market).
All furniture and large items are listed on craigslist. We sell out of our home and have never had an issue or a weirdo or problem. We are very rural and I weed out folks before giving out our address.
We make sure that everything is in proper working order or note that in ad or sales pitch~we like our reputation.
I often go to an antique fair with some of the higher end, older items.
We have numerous contacts within our community and what we can't move, but is still in usable condition, we can usually find somebody who can benefit from it.
The only way you can really learn the business is to experience it, but again......you must first attend a live auction and I would suggest that you do so as merely a spectator. Talk to the people. Most are willing to talk.....but take what they say with a grain of salt.....because I've heard some serious tall-tales from our local buyers~
Good luck.......
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You really do need to go to an auction and experience it before you even consider buying a unit. I went to
As far the rest of your questions, from my personal experience:
We live on just over an acre, so we have plenty of room to store items, both large & small (there is an amazing amount of little, but valuable items).
We spend every Saturday at a local swap meet (flea market).
All furniture and large items are listed on craigslist. We sell out of our home and have never had an issue or a weirdo or problem. We are very rural and I weed out folks before giving out our address.
I too have a pretty big property and an empty basement and attic, plenty of room to stuff treasures from storage unit auction. I how ever have little interest in going the flea market route. I really can't see myself selling a used toaster oven at a flea market on my weekends. I was wonder if anyone gives there low end crap for someone else to sell (for a small percentage) and keep the more valuable items to sell on Ebay or Criag's list. Maybe I'm not humble enough to be a serious storage unit buyer, I still have a full time job (at least for now) that pays pretty well.
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I am that guy. Not the kitchen wares type stuff.
I just have buyers and contacts. People bring me what they have and I either buy low, with full disclosure that they could get more elsewhere, or I take on consignment of sorts.
More towards ur question, the "low end crap" you speak of is some peoples bread and butter. Quick ad on CL and, for the right price, plenty of people are willing to take it off your hands.
Don't understand the "humble" remark? I just don't enjoy selling at flea's. Don't look down on people that do.
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More towards ur question, the "low end crap" you speak of is some peoples bread and butter. Quick ad on CL and, for the right price, plenty of people are willing to take it off your hands.
I don't know, from my experience selling on Ebay, I really can't be bothered to write a custom ad, figure out postage, pack and ship a $5 or $10 dollar item. after Ebay takes there cut, I'm making next to nothing. If I'm going to that kind of effort, I want to make at least $40 or $50 on the transaction to bother.
Perhaps I got the wrong impression of this website. I assumed that the regulars were making a living at buying and selling at the storage unit auctions, but sales results from another tread makes me think otherwise. Profit of a few thousand dollars is definitely a hobby, you need to be clearing 30 or 40k at least to make a living at this.
Don't understand the "humble" remark? I just don't enjoy selling at flea's. Don't look down on people that do.
Don't get me wrong, I actually like going to flea markets sometimes, but I think you have to be somewhat humble to sit out in the hot sun weekend after weekend selling items for a few dollars each. It's just not me. Now if I was unemployed, it would be something I'd be a lot more open to.
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Honestly, If you don't want to move "low end crap", or make ads on craigslist or ebay, or do the fleas, THIS IS NOT FOR YOU.
There is usually not enough big ticket items to discard the "CRAP".
You have to make every penny you can to be really successful in this business.
Just my opinion
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TechGromit,
UGA*FAN beat me to it! If you don't see yourself selling at flea markets and can't find the time and energy the list items on Ebay, then don't bother getting into storage auctions. It will be a big waste of your time and money. To be successful in this business it is a labor of love.
You must LOVE the flea market.
You must LOVE Ebay.
You must LOVE Craigslist.
You must LOVE finding other venues for selling your merchandise.
Don't get me wrong, all of these things can be a pain in the a$$, but like a marriage, to be successful, you gotta LOVE it!
Oh also,
You must LOVE moving heavy items in the blazing heat or freezing cold.
You must LOVE digging/sorting through other peoples household garbage.
and other things.
As far as finding someone to sell your stuff for you at the flea market I have tried it and so far have been unsuccessful. It's amazing how many people lack the motivation to actually "work" for a living. You will find a lot of people who will want to take the good stuff of your hands for free or next to nothing and leave you with the $1 items. Depending upon the type of units you get and the contents, those $1-$3 flea market items can end up being 20% - 40% or more in some cases, of your total sales from the unit. So the idea of just giving them away, or throwing them away, is going to really choke your profitability.
I do know others who despise the flea market and they take their would be "flea market" inventory to auction houses that do box lot auctions. Not all auction houses do box lots, and I have seen some where if you take all your "flea market" inventory to th auction house you will get "raked over the coals" by how low it all sells for. This method is really only good for high volume buyers who can afford the really low profit margins on sending the "flea inventory" to the auction house.
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I too have a pretty big property and an empty basement and attic, plenty of room to stuff treasures from storage unit auction. I how ever have little interest in going the flea market route. I really can't see myself selling a used toaster oven at a flea market on my weekends. I was wonder if anyone gives there low end crap for someone else to sell (for a small percentage) and keep the more valuable items to sell on Ebay or Criag's list. Maybe I'm not humble enough to be a serious storage unit buyer, I still have a full time job (at least for now) that pays pretty well.
Well 'low-end crap' is the bread and butter of this business. What's the magic $$ amount?
It's really quite simple~we sell what people buy. From microwaves to diamond rings, from coffee mugs to vintage art, from phone chargers to AC units. We sell what we can, donate or dump what we can't and we make a pretty good living doing so. We also work our fingers to the bone, hit the sheets exhausted and get up and do it all over again. best part is we don't have somebody in our ear telling us how to do it. It certainly isn't glamorous, but it pays the bills, provides a service and is, quite often, fun.
And I DO love the swap meet. I enjoy my fellow vendors and my customers are great!! Plus I've made some incredible contacts being humble sitting in the sun. by the way~I have one hell of a tan and it's only April~
Congrats on your full-time job..........try to hold on to it, because in this economy.............
There but for the grace and all~
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There are people that do this full time and that is the income they make. It can range from 20k a year to 50k a year. All depends on how hard you work, your ability to sell, and some luck. Now if you have noticed those people have moved from full time storage auction buying to picking. The reason being the profit margin on units has shrunk in the last 2 years thanks to the shows.
People on here fall into 3 broad categories:
* Full timers (either retired people that do it for extra income, thrift store owners buying inventory, or perm flea market/swap meet vendors buying inventory)
* Hobbiest / Part timers - people like myself who have full-time jobs, or part-time jobs, or housewives, etc. They sell most of the items at flea market, CL, and ebay.
* Newbies / Fly-by-nighters - people that see the show, think it's fun and easy, and jump in feet first. Then they find out about all the work, how hard it can be to sell, etc. Most of these people only last a month - three max before they burn out.
I myself have a very good full time job. I do this as a hobby and to spend time with my oldest. I have fun at the flea market meeting new people, BSing with the vendors and other storage auction people, etc. Making money is just a bonus. The time I spend with my oldest who loves both buying and selling is just priceless. Long as she wants to spend time with old dad, I will drag my butt out of bed and spend 6 - 8 hours at the flea selling.
You can make money on CL and Ebay if you have the right items. You will have to be very selective in your unit purchase. No matter how selective you are however you will soon gather a ton of $5 and under items. These you either donate, trash, or sell. Most of us do that at the flea. The box lot auctions is a way to get rid of it and make some cash like others have said. Just be willing to take what you get. People at the auctions are looking for items that they can re-sell for profit.
Other option is to offer these lots to your fellow auction buyers. Those that do like to hit the flea and stuff. Figure 25-30% return, maybe 50% but still not what you could make selling it yourself.
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Perhaps I got the wrong impression of this website. I assumed that the regulars were making a living at buying and selling at the storage unit auctions, but sales results from another tread makes me think otherwise. Profit of a few thousand dollars is definitely a hobby, you need to be clearing 30 or 40k at least to make a living at this.
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You CAN but for the "risk vs reward" there are better business options.
If you do I'd scope out industrial lockers rather than your average personal lockers.
They go for a lot more, harder to find and contents are usually I s very niche' market so selling options are limited.
I have a job, pays well and I love what I do. But one, I want to give my family more than what my salary can provide. Two, I'm not a come home and watch tv type. I gotta keep moving.
I'm a grinder. Don't put all my eggs in one basket thing.
If something is only bringing in $200/month but you have 10 things going.....it adds up.
Go sit at a flea and make $200? That's $800 at the end of the month. To do what?
Socialize. Spend time with kids. Actually TALK to kids. Teaching kids about an honest dollar, money, business. There's a lot more to it than the money. At least that's what I see. 90% of sellers are cool and it's because this is their view. 10% are in it just for the money and they are always angry, condescending, know-it-all, *ssholes......
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If you want all the information in one easy step, click on the link below! I've compiled information from some of the best in the business and outline how you can turn trash into treasure.
theartofpicking.com
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LOL... I guess I am an old fool for standing in the sun all day trying to sell a table full of "low-end crap" at the swap but - more often than not that "low-end crap" is your only profit in a unit. Sure I would rather spend my time dealing with antique store or art gallery owners but the truth is most of what you find in these units is regular household items.
I, along with more than a few on here do this part-time...hubby has a very good job in the oil patch. I go to the auctions alone or with my 19 year old daughter, hubby goes when he can but he puts in 10 hours a day 6-7 days a week, I also have to empty the unit on my own, sort, clean, repair, do dump runs (many, many dump runs!), write E-Bay, Craigslist ads, run items to be appraised, pack totes for the swap or the antique mall or goodwill.
You get very, very dirty. You have to work in the heat, cold, rain. You have to deal with mouse/rat poo/pee, dirty undies, porn, spoiled food, needles, etc., all to find what you can to re-sell.
You also manage to learn a thing or two about all sorts of things....I now know how to re-finish furniture, I can make windchimes out of some of the most worthless junk, I can make broken china turn a plain flower pot into something I can sell at the swap, I can turn an old lamp into a birdbath. If you are not willing to work the very last penny out of every unit you will not make it. Prices are higher than I have ever seen them just to buy a unit and if you are not willing to swallow your pride and sell that toaster oven you might as well stay home and just watch the shows.
As craigls said below....I too value and appreciate the time I spend with my daughter at the swap or cleaning out a unit. At 19 there is not much she likes to do with dear, old mom so I take what I can get before she heads off to college.
BTW, I am very humble......yep, just an old, humble redneck granny!
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Sure I would rather spend my time dealing with antique store or art gallery owners but the truth is most of what you find in these units is regular household items.
Oh Lord....not me!! Maybe it's my location, but art gallery owners seem to be some of the snootiest folks I've ever met!! :-\
Yep~I'd rather stand in the sun and talk to 'real' folks any day of the week and occasionally twice on Sunday~ ;D
bulldogmom~I'd love to see some of your 'upcycled' art.
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Rockin......You are so right, there are a few that have real high noses! I was thinking more along the lines of...at least we are inside, under air-conditioning and not standing on dirt!
I have a lamp that will become a bird-bath soon. I will try to post pics but be forwarned....artistic is something I ain't! It is more of copying an idea from the web! I am more of a play with it until it looks presentable kinda gal!
But, hey...it sells.
Bev
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Another story comes to mind.......
I used to clean a bar back in the late seventies and somewhere I had gotten the bright idea to do something with the bottles that I threw out. I found directions on melting glass at home...do not try this at home!! I cut the bottoms out and had plans to make a few windchimes by flattening the bottoms and hanging them along with a few shells and selling them for a few bucks. Well...you have to keep them in the oven for about 10 hours on 500 then remove the glass and press it flat, sounds pretty easy! What it found out was that I had let it cook for too long and when I removed them with metal BBQ tongs they started to melt into long strands that reached the floor and melted my lino.....big mess!
Moral of the story....I am not too good at some of this artsy stuff!
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Lol bulldogmom - your still far ahead of me. I'd not have a clue where to even start, think, or vision some of my junk as "art". One of these days I may venture into attempting to make a birdhouse(s) with all the scrap lumber I've pulled out of units. Waiting on daughter to learn how in shop so she can teach me ;)
I had to laugh at my oldest when she came home last week. She went with a friend to Myrtle Beach for spring break. She comes home and says "Dad I found this flea market at Myrtle Beach - and it's inside". Leave it to her to be on vacation and still scouting out places to sell stuff.
She has also informed me that for now on 1/5 of the table space is for her to sell the survival bracelets that she is making. Maybe in another 5-8 years she will remember this when she sells her company to Facebook for $1 Billion and will toss some money toward her old dad.
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@bulldogmom tooooo funny, glad I am not alone... Love the glass thing.
With Rockin would love too see some of your stuff.
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Money... will do.