Archive - 2013

How Shipyard Container Auctions Work

January 6, 2013

TruTV’s newest auction show, Container Wars, offers a fresh new look at the auction and resale industry.

Rather than focusing on the now well-known business of storage unit auctions, Container Wars focuses on the relatively unheard of industry of shipping containers.

This cargo containers auction show follows several buyers as they examine and purchase the contents of unclaimed commercial shipping containers at an international port.

Watching the show makes it clear that the primary purpose of the program is entertainment. As the shipping containers tend to have high quantities of commercial goods, they are worth more than a standard storage unit.

This raises the stakes and makes every auction more exciting as high quantities of cash start to exchange hands.

Although the concept may seem far-fetched, cargo container auctions really do occur outside of television. Shipping containers are used to import goods from overseas.

They’re most commonly used by businesses that must bring in merchandise or materials from other countries. Some individuals may also use shipping containers in order to facilitate an overseas move.

Either way, the goods are loaded into massive cargo containers and placed on ships, which then sail to their destination and unload their cargoes into ports.

Once at the port, the cargo containers must be picked up. At this point, the buyer is responsible for paying any taxes or other fees associated with importing goods.

If you’ve ever shipped an item internationally, you know how pricy the duties and taxes can be. This leads to some buyers leaving their cargo in the port rather than picking it up.

These abandoned shipping containers are then moved into storage for a few months to ensure that no one is coming for them; then they are sold at auction to recover the shipping and storage costs.

Unlike storage units, which are usually filled with regular household items, shipping containers can hold nearly anything and everything you can imagine.

This makes the chance of a tidy profit much more likely, but it also makes these auctions somewhat less practical for the hobbyist. In reality, these container auctions are often not widely advertised, and they may occur within a small group of people who are well-known in other types of auction settings.

As always, networking with fellow auction hunters is a great way to find new leads on sales.

If you’re looking for a new niche to break into with your resale business, this cargo containers auction show can help inspire you. If you live near a shipping port, you might be able to engage in these auctions whenever they come up.

Even if storage unit auctions in your area are still saturated with newbies, shipping container auctions may remain relatively untouched. The fact that few people know about them combined with their higher cost may help to drive away newbies.

Please leave your insightful opinions in the comment box below.

Storage Wars: New York: Flash My Underpants

January 2, 2013

Guest Contributor

Storage Wars New York

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Storage Wars: New York: Season 1, Episode 2: “Lady Luck Comes to Harlem.”

Buyers headed to Harlem to try their luck. Would luck be a lady or burn the buyers like a scorned mistress… Let’s see.

Mike specifically wanted a room that would allow him to flip merchandise fast. His competition, never one to be boring, Joe P. He wanted a room that ‘talked’ to him. Oh if walls could talk, what these storage facilities would say.

Everyone’s favorite gals Courtney & Candy recently purchased a van for $3,000! They wanted to find vintage clothes to fill it to make their money back.

Candy: Your cleavage, our heels…distract then go in for the kill.

Meanwhile, Tad wanted Chris to not get carried away and overbid on a crummy room.

1^st Room

Courtney & Candy found what appeared to be the perfect room. It was a messy with tons of bags and a funky purple fridge. Needless to say, not something the other buyers were interested in. Courtney snagged it for a mere $125. Looking to find a potential buried treasure, the girls pulled a halfway decent vintage fur from a garbage bag. Time for appraisal.

At a boutique, the shopkeeper gave them fantastic news. Their 70-80’s era fur coat was worth about $3,000! And that should cover the expense on purchasing the banana van.

Courtney: We can put so many tiny bottles of alcohol in there.

Everyone has their priorities…

2^nd Room

Lo and behold but what did we find in the second room? That’s right – more garbage bags! Joe P even used a black light to see if the clothes were clean.

Chris: I don’t need a dumb flashlight to tell me what’s good.

The Legend was all stealth. He subtly bid and won at $225. Looking for a score, Joe P. found interesting binoculars along with a bird watching guide. He cleverly deduced that the binoculars had some value. He took the binoculars to Central Park for appraisal. An expert was able to tell that the lenses indicated high quality materials. Valued at $1,000.

3^rd Room

It took some effort to get a glimpse inside the third room. We can blame (or thank) the third room as Candy accidentally flashed her underwear while she bent down to take a peak (let’s give her the benefit of the doubt on this one). Mike had an interest. He won at $700 then promptly caused a mini avalanche while unloading. Mike’s finds included computers and jewelry that he sold on the spot for $200 and $250.

What happened to Chris and Tad?

Harlem clearly wasn’t the place for them as they walked away with nothing.

Profit Totals:

Candy Olsen & Courtney Wagner: $3,010
Joe Paulticheck : $795
Mike Briotta: $615
Chris Morelli & Tad Eaton: $0

Which room would you have bought?

Please leave your comments in the box below.

Storage Wars: New York – Candy & Courtney Dance to Pitiful $10 Profit!

January 2, 2013

Chuck G.

Storage Wars New York

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Storage Wars: New York: Season 1, Episode 1: “Beg, Borough, or Steal.”

Auction held at Brooklyn, New York.

If you find a storage unit up for auction full of merchandise that’s part of your passion, that’s your ticket to success.

Uh, well, it usually works that way.

In this episode, passion struck gold for one and for another uh, a profit to buy two cups of coffee, if that.

Candy hit a curb on the drive to the auction, oops. She needs to adjust to the new banana van. Chris and Tad could not agree on what defined a good locker. Mike drank Pepto-Bismol like water; had slight food poisoning. Joe P believed he possessed a sixth sense.

Joe P: I have ESP. Extra Storage Perception.

We’ll see…

1^st Storage Unit
Deep and cramped, as if someone threw their art gallery business inside then left the country. Art supplies in rubber tubs, paintings, frames, pair of speakers, and tools. However, this was an art depot by definition.

Mr. ESP loved art. Sick Guido just had to have it to have it. Joe P entered only one bid and won the storage unit at $1,500.

Mike: The “P” in Joe P stands for, “Pissing me off!”

Joe P dug through his unit with a helper. Found a drum set, coffee table, modern chair, and a truckload of art. He took a few paintings and photographs to Arnet Gallery to have them appraised.

His ESP worked. Joe had three Chen Chow Young print photographs. Valued at $3,000, $5,000, and a piece titled “Personal Utopia” valued at $7,000. His passion for art was his ticket to success.

2^nd Storage Unit
Three rubber containers and two trash bags. Boxes of shoes visible in one opened trash bag. Fashionistas Candy & Courtney loved shoes. However Chris and Tad would make them over pay at $155 for the locker.

Any high-end shoes? Just one. A hand-crafted Phil Laduca tap dance shoe. Hand-crafted. Made in Italy with a t-strap. Same brand tap shoe worn by dancers on Broadway. Problem? Valued only at $80-$100.

Lesson: Don’t let your passion exceed the value of the locker.

3^rd Storage Unit
Frat party mess. What’s wrong with these New Yorkers? If you store stuff in a locker… pack it neat or at least try. Joe P took one look, he’s out. Mike’s out. Gals were out.

Candy: The only thing vintage in here is the dust. No, thanks.

That left Chris and Tad, or at least Tad. He kept bidding. Chris told him to STOP! Tad would not listen. Won the locker for $525. What did they find?

J-U-N-K.

That’s why the other players stepped away. One item however would keep Tad out of the dog house. Tech Grill custom-made and brand, spanking new. Grill heats up to 800°F which is as close as a home consumer can achieve to a restaurant quality sear on meat. Appraised at $1,675.

And no, that locker had nothing to do with passion, just luck.

Profit Scorecard:

Joe P: $16,450
Chris Morelli & Tad Eaton: $1,250
Candy Olsen & Courtney Wagner: $10
Mike Braiotta: $0

Candy and Courtney really wanted that unit, but do you think they should have dumped it on Chris and Tad?

Please leave your creative comments in the box below.

Tips on How to become an eBay Power Seller

January 1, 2013

T.C. Lane

Storage Auctions 101

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eBay is one of the most powerful tools in a resale business’s arsenal.

The auction site allows sellers to find collectors and other willing buyers for nearly any type of merchandise.

You can buy and sell items without the high overhead costs of maintaining a store-front, and you can connect with buyers from across the globe.

Every transaction you make on the site helps to build your business by affecting your reputation on the site. Because eBay rewards its best sellers, it’s in a merchant’s best interests to focus on ways to earn these rewards.

Approximately 4% of eBay’s merchants are considered Power Sellers and achieving that status can earn you substantial rewards:

Shipping discounts for UPS and USPS
Unpaid item protection
Newsletters and access to Power Seller discussion boards
Health insurance opportunities
The ability to participate in research and promotional offers
Phone consultations with eBay staff for support in becoming a Top Seller

Power Sellers carry a certain amount of prestige and earning. Maintaining this status is an important milestone toward becoming a high-earner on eBay. It does take some time to become a Power Seller, but with some effort you can earn that status after only 3 months.

First, be sure you are familiar with eBay’s rules as they are subject to change. Currently, Power Sellers must reach the following criteria:

Be an active member for 3 months
Make a minimum of $1,000 per month in sales for 3 consecutive months
Have an overall feedback rating of 100% with a 98% positive or higher rank
Follow all eBay rules and community values

Once you’ve reached Power Seller status, you can move up in tiers.

These tiers are determined by the amount of sales you make and the higher tiers translate to better rewards.

Bronze must maintain $1,000 in sales per month.
Silver must maintain $3,000 in sales per month
Gold must maintain $10,000 in sales per month
Platinum must maintain $25,000 in sales per month
Titanium must maintain $150,000 in sales per month

Gold members have access to all of the standard Power Seller benefits plus access to eBay’s account manager software.

The secret to becoming a Power Seller is to maintain high sales and a level of professionalism.

Here are a few tips:

Maintain good customer relations to improve your feedback ratings. Offer discounts or refunds when necessary, and keep communications open for your customers. It’s often worthwhile to lose some money in order to keep the customer happy rather than save the money and risk losing your rating.
Keep a tight focus for your store. The best-rated eBay stores are often those that adhere closely to a specific type of merchandise. This makes it easier to maintain your listings and stay organized.
Create professional listings and learn to take high-quality photographs. The quality of your photographs and descriptions will make a substantial difference in the amount of sales you make and will affect your customer ratings.
Learn to use keywords to maximize the effect of your listing’s headline and description. This will help you show up in eBay and Google searches and improve your sales. Also be sure to run your auctions during prime sales times, such as weekends and evenings.
Make it easy for customers to pay you. Accept international bids and multiple types of payment options. The more options you offer, the better your odds of securing a sale.

The tips on how to become an eBay Power Seller is simply to treat your eBay business seriously and focus on providing a positive customer experience while maximizing sales.

eBay automatically sends invitations to qualifying members each month, and participation in the program is free. As long as you continue to meet your sales goals along with good customer ratings; you will have constant access to the Power Seller benefits.

Please leave your insightful thoughts in the comment box below.

Container Wars: Meet the Cast

January 1, 2013

Chuck G.

Container Wars

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Container Wars picks up on the popularity of similar shows like Storage Wars or Auction Hunters. Rather than focusing on storage units, however, the show examines a different type of auction – an international commercial shipping port.

Participants are experts from different auction and resale fields. They must compete against each other to win the contents of large shipping containers. Unlike other auction shows, this one has very high stakes and the bidding can reach extremely high levels. The general philosophy of “more is better” is certainly at work in this newest offering from TruTV.

How the Show Works

Whenever items are shipped internationally they are subject to certain taxes and fees. The person who receives the cargo is responsible for paying these costs. If the fees are not paid or the cargo is left unclaimed for 15 days, the items can be transferred to a warehouse for storage. After being stored for six months without being claimed, the goods are sold off at public auction.

These auctions are often not widely advertised. In many cases, the people who attend the auctions are those who are already “in the know” through being related to the industry or shipping company. Container Wars capitalizes on this unknown facet of the auction industry to create an exotic and high-stakes setting for its show.

Unlike storage units, which usually include normal household items and the occasional rare find; shipping containers offer a wider array of goods. Nearly anything can be shipped commercially, and this makes the containers worth more than a storage unit. The chance of profits is higher, but the cost – and risk – is higher as well. This provides the show with its unique hook.

Container Wars Cast

John Kunkle – An auctioneer from South Beach, California, John has experience in running auctions for galas, benefits, antique sales and more. This experience makes it easy for him to whip up a frenzy at auction, which helps drive up prices and keep the show exciting. In his free time, this 30-year auction veteran likes to ride motorcycles and spend time with his family.

Penny Daily – Hailing from Georgia, Penny is the other charismatic auctioneer on the show. Outspoken and uncensored, Penny is accustomed to keeping up with the big leagues, and she won’t take trouble from anyone. When not running auctions, she works at a psychiatric facility, where her auction skills help deal with conflict every day.

Ty & Mo – Fan favorites, this Georgian duo have been attending auctions of all kinds since the 90s. Both former bouncers, these best friends use their intimidating demeanor and size to their advantage. There’s more to these guys than meets the eye, though: Mo is soft-spoken and eloquent, and Ty spent some time in culinary arts school.

Matthew Gaus – Matt is fast-talking, energetic and maybe a little crazy. With seven college degrees and a lifetime of experience, he certainly brings a unique perspective to the show. He’s notoriously paranoid and trusts no one until a sale is finalized.

Shlomi, Eyal and Uzi – A trio of business partners from Israel, these three are usually called “The Kids.” They met young and immediately met success from a high-end fashion and retail business. These multi-lingual businessmen have a competitive edge and lots of experience flipping goods of nearly any description.

Jason Hughes – The newcomer to the auction scene, Jason used to own a restaurant in Virginia and acted as a MC at local comedy clubs. All that changed when he inherited some money and started investing it in auctions. He’s a Southerner through-and-through, and his easy-going charm sets him apart from the pack.

Deana Molle – As the only woman bidder, Deana has her work cut out for her when it comes to standing up to the boys. She has no trouble standing up for herself, though, and she has a lifetime of auction experience thanks to her automotive industry father. This former beauty pageant competitor is also easy on the eyes, which certainly helps her get her way.

Container Wars has six episodes so far in the first season. It premiered in January of 2013 and has already ignited quite a fan following. While many fans are enthusiastic in their support, Container Wars does have a large number of complaints about its realism. Fans, undoubtedly skeptical after the Storage Wars revelation, are eager to cry foul about any unrealistic deals in the show. Whether Container Wars will gain the necessary footing to become the next mega-hit remains to be seen.

Please leave your insightful opinions in the comment box below.