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General Storage Auction Talk / Re: Read this! This person put out an add to get there stuff back.
« on: October 18, 2011, 07:41:23 PM »
I called the number in the post, sadly they didn't answer.
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General Storage Auction Talk / Re: Business Info Needed
« on: October 17, 2011, 10:06:14 PM »A friend of mine that owns a tax service asked me if I have a business license and if I’m keeping track of everything I buy and sell.
I am keeping track but I haven’t really had intentions of turning this into a legit business.
Has anyone heard that it’s necessary? I have a job and I’m 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.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?
ask your friend when ebay started reporting to the IRS... As of now that technology hasn't been completely worked out.
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Garage Sales / Re: Throw it all in boxes,and let them dig for it
« on: October 17, 2011, 02:29:58 PM »
I just had a garage sale/yard sale on Saturday. it was a community thing, and honestly my first one. I had a clothes rack that people could rifle through, anything for $.50 a couple of boxes labeled $.50 and one labeled $1.00. Also had 2 small tables setup for canisters and picture frames etc. these we labeled "as set" or by the piece. when we started getting bare spots I ran over to our unit and refilled.
At the end of the day we loaded up bags for the goodwill, and packed the rest away for the spring garage sale.
Overall we made about 200 bucks. thats a lot of product at 50 and 1.00
At the end of the day we loaded up bags for the goodwill, and packed the rest away for the spring garage sale.
Overall we made about 200 bucks. thats a lot of product at 50 and 1.00
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Reality Shows about Storage Auctions / Re: Auction Hunters is FAKE!!!
« on: October 17, 2011, 10:50:44 AM »I know this topic is old but I wanted to chime in and say of course Auction Hunters is fake. So is Storage Wars. Look, ever notice how Ton and Allen are experts on the rare antiques they find? They did their homework for the show. I have been to storage auctions and I never find rare or priceless stuff. Usually its junk or household items. Mostly apartment folks who have no room for their useless stuff.
These shows have folks who want to auction off their items and they contact the show, and these items get placed in different storage units. It makes no sense whatsoever that people who own priceless antiques and collectibles would not be able to afford the storage unit. Most people know better than to store valuables in these units anyway.
I thought the same thing about jewelry. Then I acquired some in my most recent 2 lockers. I still think people can be foolish.
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General Storage Auction Talk / Re: Paying Sales tax vs Resale License
« on: October 14, 2011, 03:10:23 PM »
I got a separate resale license specified for resale of this type of goods in GA before I started this venture.
I don't want to pay 8% on a 1000 dollar unit and pay 8% on the buyers fee to the auctioneer, which is what some auctioneers do. Thats an extra 100 dollars out the door.
I haven't had to use it yet as all of the lockers I have purchased there were no taxes taken out. I keep some receipts, but most of my sales are on ebay where ,for now, they don't collect tax on.
I don't want to pay 8% on a 1000 dollar unit and pay 8% on the buyers fee to the auctioneer, which is what some auctioneers do. Thats an extra 100 dollars out the door.
I haven't had to use it yet as all of the lockers I have purchased there were no taxes taken out. I keep some receipts, but most of my sales are on ebay where ,for now, they don't collect tax on.
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New to Storage Auctions? / Re: Selling
« on: October 05, 2011, 01:02:36 PM »
Post up some pics. I am always interested in some nice copper pots.
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General Storage Auction Talk / Re: Placing a value on the unseen on 10x30's
« on: October 03, 2011, 02:44:10 PM »
My only 10x30 purchase is still bringing in the big bucks due to what was unseen to my eyes. The guy had a collection of Mitchell and Ness Jerseys, NBA and NFL. When I say collection, I mean 36 various jerseys all mint condition and all in the 100-250 dollar price range. He also had a collection of hats, about 25, and very nice shoes.
I'm saying that I am willing to place a little bit higher bet on lockers of that size, specifically a climate controlled unit. Those units aren't cheap to rent and most people won't pay 100-300 dollars per month to store junk.
I'm saying that I am willing to place a little bit higher bet on lockers of that size, specifically a climate controlled unit. Those units aren't cheap to rent and most people won't pay 100-300 dollars per month to store junk.
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General Storage Auction Talk / Re: do you throw out 5$ incremental bids?
« on: September 30, 2011, 03:50:38 PM »
auctioneers down here won't listen to a $5 bid if its over 200 dollars. They will say it needs to be 25.
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General Storage Auction Talk / Re: Strange saturday crowd, but got first one!
« on: September 24, 2011, 11:55:44 AM »
gratz. Now you get to clean it out. Remember buying is the easy part.
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General Storage Auction Talk / Re: Selling storage treasures
« on: September 24, 2011, 11:46:41 AM »
Its tough even with good items sometimes. I HATE relisting on ebay, they hit you twice for what should have sold the first time. There are quite a few other online auction sites popping up along with classified type websites.
Do you have any consignment shops around you? If you have decent clothes you can consign them and get them off of your shelves. They only pay 40-50% but you don't have to worry about trying to sell them yourself.
Do you have any consignment shops around you? If you have decent clothes you can consign them and get them off of your shelves. They only pay 40-50% but you don't have to worry about trying to sell them yourself.
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General Storage Auction Talk / Re: Selling storage treasures
« on: September 24, 2011, 09:01:31 AM »
I don't want to come off like an ass hole, but shouldn't you have the selling part figured out before you do the buying? Thats the most difficult part of the strategy.
In your case you are going to have to do some driving to get things done. Ebay is gerat if your items are over 5 dollars. If you are only going to sell $.99 items on there you are going to get eaten up with ebay fees, shipping, and gas for you to go to the post office. Better to sell things in lots and get a little more money.
CL will be your most economical bet, but you are going to have to travel to make it a good bargain for the buyer. Just make sure that you are going to town to sell multimple items, or once again gas will eat up your profits.
In your case you are going to have to do some driving to get things done. Ebay is gerat if your items are over 5 dollars. If you are only going to sell $.99 items on there you are going to get eaten up with ebay fees, shipping, and gas for you to go to the post office. Better to sell things in lots and get a little more money.
CL will be your most economical bet, but you are going to have to travel to make it a good bargain for the buyer. Just make sure that you are going to town to sell multimple items, or once again gas will eat up your profits.
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General Storage Auction Talk / Re: How many of you drive up the bid on folks?
« on: September 24, 2011, 08:54:12 AM »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.I have been accused of running up the bid, although I was just stopping at the price I felt comfortable with.
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?
If I were in the situation you were in, I would have run them up. Probably higher then you did.
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Stories about Storage Auctions / Re: Lookey Loos Part 9.....September, 2011
« on: September 23, 2011, 01:44:18 PM »
I'm diggin the fat chick with the printed blouse and flip flops. Must be a die-hard auction goer.
I have seen units go for $1 by every auctioneer down here. They just want to get the units cleaned out. I would be pissed as well and would press the issue just to get him going. Ask for his license number and what not. May not do much, but if he thinks somebody may make some phone calls about it, he may change his mind next time.
I have seen units go for $1 by every auctioneer down here. They just want to get the units cleaned out. I would be pissed as well and would press the issue just to get him going. Ask for his license number and what not. May not do much, but if he thinks somebody may make some phone calls about it, he may change his mind next time.
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General Storage Auction Talk / Re: With all the auction tv show do you think this is a
« on: September 23, 2011, 10:44:43 AM »
This has been discussed for months. Its the second half of the so called "double whammy"
more people at the auctions, and more people realizing their valuables could be gone.
more people at the auctions, and more people realizing their valuables could be gone.
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Stories about Storage Auctions / Re: Lookey Loos Part 9.....September, 2011
« on: September 22, 2011, 09:37:38 PM »
The old timer just walked by him after the auctioneer called 'sold' and pointed at him, and he simply said 'you **** people, you get ****ed. Bid if your serious. Otherwise watch your goddamned tv show and play the lottery"
I lol'ed
I lol'ed