Auction-hunting is a great business opportunity for many people, but it’s particularly valuable as side income for people with a fair amount of free time.
There’s a good reason why so many of the traditional auction-hunting crowd are retirees: Going to auctions can be very time-consuming, and it’s not always lucrative enough to support a full-time income.
In order to run a successful resale business, you will need to have some extra spending money, storage space, patience and enough time to sell the items you find.
Without all of these factors, you won’t be able to make a profit. This is what turns a lot of people away from the resale business: It’s not always easy to keep a job to pay your bills while attending auctions and selling items.
There are, however, a few people who are better-suited to this lifestyle than others. One group who can certainly benefit from the resale business are teachers. Summer is prime auction season, and you can use some of your free time during the vacation to pick up a few units.
If you have some storage space, the contents of these units can be sold slowly throughout the year. This allows you to hold onto the good items you find until you can find the right buyer or the items gain popularity.
For example, you can hold onto all of the Halloween and Christmas items you find over the summer and put them up for sale before the holidays to maximize profits. Since you don’t need to worry about making an immediate profit, you can afford to wait until things are worth more and then resell them.
Throughout the school year, you can sell the items you bought over the summer at flea markets or weekend yard sales. You can also run a virtual storefront on a resale site like eBay to allow you to sell items with minimal effort. This can allow you to gain a slow extra income throughout the year without needing to do any additional work after the end of the summer.
Another valuable option is to move the items you purchase into a storage unit of your own, and auction that unit online through OnlineStorageAuctions.com. That way, you can sell units in bulk to interested buyers and get money without needing to spend much time individually selling items.
Since storage auctions often slow down in the cooler months, virtual auctions might gain in popularity among full-time resellers, and you have an option for selling off things that could otherwise be challenging to sell one at a time.
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