Storage Auctions

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Topics - DamnthisisFun

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1
eBay / Drop shipments
« on: November 17, 2011, 11:41:15 PM »
Anyone use any of those drop ship companies for inventory?

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General Storage Auction Talk / Business Info Needed
« on: October 11, 2011, 11:40:05 PM »
A friend of mine that owns a tax service asked me if I have a business license and if Iím keeping track of everything I buy and sell.

I am keeping track but I havenít really had intentions of turning this into a legit business.
Has anyone heard that itís necessary? I have a job and Iím a student so in my mind this was just a fun way to make some extra money.

She said that if you make more than $600 in a year the IRS requires a business license. I guess the storage place reports the auction winners and eBay reports their sales so there is a paper trail of the purchase and sale of each item.


I asked her about deductions and she said all these things are deductible plus more.
1) Cellular telephone bills and a portion of a land-line if applicable
2) Vehicle Gas, repairs and interest on car loan OR mileage.  This one requires greater explanation but mileage is usually better.
3) A portion of your rent and household utilities.
4) Bank Charges.
5) Internet Service.
6) Newspapers & any other advertisement purchase source to locate storage units or auctions.
7) Clothing attributed to this business,  gloves, jeans, t-shirts, etc.
8) Shipping, Freight & postage fees
9) Packing & shipping materials
10) Office supplies

Do you guys have business licenses? Do you think is it something I need to consider?

3
Stories about Storage Auctions / my first crap unit!
« on: October 11, 2011, 03:28:08 PM »
I went to a auction last friday.  they had 6 units on the block.  This was the first auction i have been to that allowed  you to walk into the unit.  (I didn't like that).  This is the first auction that i did research on the owners.  One was in jail for meth, one was a local nurse,  one was a student, and they last the one i bid on and won recently passed away.  This locker looked like someone moved the items in a hurry, so i was banking on the fact they forgot something.

Digging through the unit i found some small electronics and kids clothing that will easily sell, but it's going to be hard to recoup my 325 bid.

Here is the picture from when the door opened. I look at it now, and say to myself no wonder! haha.

Oh this locker had TONS AND TONS of new fabric.  not sure how to sell it though.

4
I have more of these than i know what to do with.

5
General Storage Auction Talk / Craftsman Tools
« on: October 07, 2011, 12:38:04 AM »
In my last unit I found a tool box full of old tools.  Most of them are craftsman, but have a nice coat of rust over them.  Anyone ever return this things back to sears for the lifetime warranty?  A new craftsman tool would be pretty easy to sell on Ebay.


6
General Storage Auction Talk / My 2nd unit, can i make it two in a row?
« on: October 03, 2011, 01:31:29 AM »
After buying my last ( and first) unit last month i turned a $60 gamble into a $600+ dollar profit.  I just bought my second unit yesterday.  It seems like at my local auctions the  smaller units with random boxes go more than the  bigger units.  So, I picked up this unit for $80. It had no boxes just furniture and some odd items.  I haven't sold anything yet, but this is what was inside.

Solid wood Dining  table 6ft x4ft ( already have a few people interested on craigs for $200)

A like-new All-Clad electric in door grill. ( $100 on Ebay EASY!)

2 dressers.

4 decoy ducks.

Couch and love seat in good condition, but a little dated.

Tool box with a ton of random tools.

2 TV's 27 and 30 inch wrapped in plastic.

and a 70's waterbed headboard. 

Here is a pic of the headboard.  I thought it would be a sweet book/ dvd case for someone.  You guys think its worth anything?



7
General Storage Auction Talk / How many of you drive up the bid on folks?
« on: September 23, 2011, 11:33:44 PM »
today I was at an auction and there was two different units that I wanted.  The first unit was a 5 x 10 with a  few bins of dolls still in the box, and old records and some beat up old chairs.  The only doll that you could see was an Nsync doll still on the box.  I jump on my phone and its only valued at 3.99 on ebay.  I was going to take a gamble on this unit anyway.  I waited till on the stupid people were done bidding ( the people who open the bid at 50 cents, and their buddy who holler 4 dollars).  I waited till it hit 30 then i jumped in.  I was willing to take it all the way to 120.  I get it to 70 and the auctioneer says "70 going twice" and then some new guy gets in on the action and jumps the bid to 125.   I was pretty mad, so i took him all the way to 210 to finally dump it on him.

The second unit was a packed 10x10.  I thought i had it won at 140,  with the auctioneer once again saying "140 going twice", and then again some guy jumps in at the last second.  Every counter offer i put in he just raised me by 5 dollars till finally I stopped at 290.


My question to you guys is do you pull a dave hester and just bid folks up?

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General Storage Auction Talk / Used TV's and computers?
« on: September 19, 2011, 06:13:22 PM »
What do you guys do with old computers, and TV's.  I have heard stories of folks scraping the gold in the connecting pins from hard drives and such.  Any truth to this or complete BS?

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Stories about Storage Auctions / My first unit
« on: September 04, 2011, 01:43:07 PM »
I live in Central Oregon, and surprisingly there are a lot storage auctions.  I'm not going to lie, I became really fascinated with storage auctions because of the main stream shows.  I'm not some brainless media drone though.  I knew going in it was going to be a lot of work and that the units the show on tv are probably 1 of 20 bought.  I went to my first auction on a friday in Redmond, there was 6 units up for auction, and i got beat on all 6 or didn't bid because the the unit was trash.  I finally got a unit on a thursday in Prinevile.  I t was the only locker of the day, and i was determined to buy something.  I got the unit got 60 bucks, and it turned into a really good profit.  At first glance the locker looked like a 99% dump run, but it actually had some gems.  The first thing i noticed was the PS2 in the box, which i knew would be at least 20 bucks on craigs.  I noticed this one box that was open and a blanket was covering most of the top and only exposing a corner to see in.  I noticed very quickly that there was one cable box receivers.  Here in central oregon there is really only one cable provider, and if you have bad credit they charge a 300 deposit for those receivers.  So I knew this locker had some hidden value.  Only one guy was bidding against me, and he gave up at $60.  Here is a pic of the unit. [IMG=http://img828.imageshack.us/img828/5391/img20110825102644.jpg][/IMG]

Uploaded with ImageShack.us

It only took me one dump run, and 3 hours to clear this unit out.

Contents found:

Two HD DVR cable boxs ( sold both for 220 on ebay)

Ps2 (35 on ebay)

little wood cabinet  ( 10 on craigs)

Gold & Silver  rings ( 250 at some local pawn shop )

Sony car AMP ( 20 bucks on ebay)

and a bunch of odd little ends that i sold for 70 on ebay.

I easily made my money back x10 on this unit.  I'm not going to quit my day job, but this is a great way for some supplemental income ( which everyone can use in this economy )  Looking forward to the next one.

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