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Messages - MTP

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31
Flea Markets / Re: Flea Market Flip !
« on: May 28, 2013, 12:40:36 PM »
I watched that non-sense once.

Just as staged as all the other garbage sold as 'Reality TV'.

They bought a beat up picture frame for $125, put a mirror in it, painted it and sold it for $500 without even asking a price. The buyer just walked up and 'offered" $500 just like that.

That damn thing you would have a hard time selling here for $20 no matter how nice.

Not saying it CAN'T be done,but it's completely obviously staged.

The popularity of some of these so called reality shows really shows you the state of dumbing doen we are in as a nation.

32
Ok here it goes again.

I am having a very hard time actively selling my finds. I don't think my prices are bad, the stuff is good, at least priced accordingly.
Yet they sell reaaalllll slow....

A little more background.
I am in a financially VERY depressed area. People simply do not have money to waste.
I have a 1,500 sq ft warehouse of thich I use about 700 sq ft for display of my stuff. ostly 'ok' furniture.
I can not do yardsales at home (apartment).
I CAN do yardsales at my warehouse, but being in a somewhat remote industrial area limits the traffic.
I tried it 3 times and it was sluggish the firsat 2 times, the 3rd time was a disaster. 3 people, $13 total.

I tried fleamarket. A LOT OF WORK for little $$. Blew out the good stuff for pennies on the dollar and got stuck taking back 90% of my smalls anyway.

I have been working with a nice consignment store in a neighboring city with more favorable demographics. At first I was taken back by them taking 50% of the sale. But once I realzied they are getting WAY more than double what I could ever get it was actually a real winner. Of course not everything will sell, but so far so good.
They also are VERY selective. It has to be in real nice condition or unique for them to take it.

On top of all this I am not a very sociable guy. I am wrking hard on getting better at this, as I understand it is a key in this business, but at 43 I will never be mister popular ever. LOL....

So here is my thinking....
I can get a few more consignment arrangements going. Some are also willing to take the rejects of the 'better' store. Same deal 50/50 split, but probably get more money than I could, so it wopuld be a win/win situation.

I am very good at ebay and amazon for the stuff that's worth it and practial enough.

I am thinking I will try to get as many consignment and wholesale arrangements set up as I can and for the smalls I would actualy continue my yardsale at the warehouse.
I also have consigned to a local auction house and the results were ok as well.

Do you guys think this business can be viable if I focus heavily on the passive sales, e.g. let others sell the stuff I can't handle online or otherwise?

33
Stories about Storage Auctions / Re: Auction Scene #5...May, 2013
« on: May 17, 2013, 07:25:21 PM »
Was kinda short on cash, but one of my more favorite local caravans was going on, so I went anyway.

Surprisingly small crowd. Probably the smallest of the year, yet still 20+ peeps.

Units went for ok prices, hardly any newbees there, so no crazy overbidding.

Ended up buying a 5 x 10 for $90 and another for $1. Only took the $1 because it was right next to the other and I figured for a buck I take a chance. People were stunned how low the $90 went. I almost took it for my opener at $50 but another regular just 'Could not let me have it at that.'
Looked like several cases might hold high end electronics, but ended up most were empty. Some bread and butter stuff and the 2 monster TVs make me back 1/3 just in recycle value. Should do ok on that one, but no home runs. The $1 mostly some trash. Might turn it into $100.

Not too bad.

Skipped a auction to clean some of the stuff out and went to another one later today. Crowd increased quite a bit, some other auctions south of us ended and we got some overflow from there.

Ended up getting a pretty packed 10x10 for $140. Total stunner. Everybody was shocked. A Literal fleamarket unit. Foldup tables, canopy, home made racks and tons of totes and boxes.
I bought resellers units before and got mostly burned. They just never store valuables in those units. I just bid, because  wanted some of those tables and racks.

A quick scan revealed a near new pop up canopa, 3 portable DVD players, real nice canon camera NIB and TONS of fairly nice clothes. Bundled jeans, and most totes I could not even open. Saw some new knick knack fleamarket junk $0,50-$1 stuff. But LOTS of it, so that will add up nicely.
Sold a half shell mannequin torso to another bidder right on the spot for $20. They actually retail for le3ss, but he wanted it, and who am I to turn down $$ LOL.

Just based on what I saw I am sure I will make EASY $1,000 on it and I only saw maybe 15-20% of the stuff so far.

Overall definitely one of my better days.

34
Were they extremely tall? :D

Nope, I was the tallest in attendance as always at 6'5" and I don't think I could have even reached in tippy toeing.

Yes, the small units sell at a premium everywhere. But not THAT kind of premium.
It's been an ongoing problem for months.

I bought a few $1 to $5 crapper units un Dec and Jan. Haven't seen any. Those currently go for $40-80.

Madness. Really frustrating, especially when you spend 3 hours on the road and walk away emtpy handed.

35
Stories about Storage Auctions / Saw a new record for me today....
« on: May 10, 2013, 06:50:57 PM »
Went to a town where people are notoriously bidding high.
Newbees all the time.

Anyway....
An overhead unit only accessible with a rolling step ladder came up. Size: 3 x 3 and maybe 3-4 high.
Nobody was allowed on a ladder. We all peeked from the bottom.

You could not see ANYTHING identifiable. Several plastic bags and ONE older bathroom medicine cabinet. Standard junk.

Opening Bid blurted out by whoever they were: $200

The damn thing sold for $375.

Absolute insanity!!!!!

36
Stories about Storage Auctions / Re: Auction Scene #5...May, 2013
« on: May 03, 2013, 12:28:44 PM »
Maybe it was working when it left the house. Then either got damaged during the move, or from extreme heat or cold while in storage. On a piece auction, the people running it were fools to not plug the TV in and test it. If they could say it was working they could've potentially got more for it.

Why do peopel store actual GARBAGE in their lockers?
Why broken stuff?

Tons of reasons, mostly they were in a rush. Likely HAD to move stuff out quick. Garbage access is limited in most cases. So dumping tons of stuff into their garbage bins was not an option. Lazyness to not take it to the county dump is the second.
Or what I believe is the most common case: They never intended it to become a permanent situation. It was just for a few weeks until they 'get to it'.

Which also explains the common miconception that someone that paid 10 years on stuff MUST have something valuable in there.
No tenant looks at it as: I spent $8,000 or whatever on rent to store my stuff.
They look at it as a monthly charge. They only pay $50, 75 or 125 for it .... (every month, but they don't think like that).

37
Thanks...

Staying on the Down Low... lol....
I hardly tell anybody what I do.

When people ask where I get my stuff from I tell them: I help property owners get rid of abandoned personal property.
Pretty true, but 99% assume I clean out foreclosed homes. Works well and I don't give any potential newbee funny ideas.

That being said I am a newbee myself. Looked into it 6-7 years ago but no time and other opportunities kept me from it. Bought a couple units right before the TV shows came out, but never did much with the stuff. Same there, just too busy working my regular biz I had back then.

Then 2 years ago I figured I take a look, had a small resell store, but the unit prices due to TV were as expected way high.

Started in Nov/Dec of 2012 and still learning.
Buying is easy, a drunk monkey on a bike can do it.
Selling and turning it into cash flow can be a %$%$%...

But I am learning every day and I think I am on the right track.

38
California....
Central Valley, Sac Metro and some East Bay so far.

39
We all hear the stories and we all have seen units that somehow don't 'look right'.

Honestly I am sure it happens, but it is rather rare.
Here in this area people pay up to the moment of the auction ALL THE TIME.

The risk of the thieves getting caught is way too high.
If a unit looks picked over, it likely was before the owner got locked out.

One manager told me 'all proud' that she really tries helping the tenants going as far as letting them in and get their good stuff out even MONTHS after they became delinquent. What a moronic move ... what intention do the tenants have now to pay up if all the goodies are rescued?

I still go to that facility but bid with real caution, if at all.

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