Storage facilities have used auctions as a way to get rid of abandoned items and defaulted units for many years, but these auctions have only recently become well-known.
Until the last several years, only a tiny handful of people attempted to make a living by reselling items purchased in this way.
Today, with the popularity of certain auction TV shows bringing this happening to the public consciousness, many more people are considering using storage auctions as a part-time income or even full-time job.
The appeal of storage auctions as a money-maker is easy to understand. In a struggling economy, the idea of finding hidden treasures and making money without a traditional office job is very appealing. That the TV shows make it seem so fun and exciting only serves to make this a more interesting option for many people.
Before looking at a job in the resale business, whether through storage auctions or any other venue, it’s important to manage your expectations. First, realize that the reality shows are generally heavily scripted and doctored. Real auctions are neither as thrilling nor as lucrative as what you’ll see on TV. Second, understand that this is dirty, exhausting work that may not yield rewards right away.
That said, it is absolutely possible to make a living from storage auctions, and thousands of people across the country do exactly that. If you’re not sure whether this is the right kind of job for you, consider these factors:
Storage auctions might be right for you if…
You enjoy taking risks
You have disposable income that can be gambled on a unit
You have ample storage space
You’re tech-savvy enough to run an online store front through eBay or similar sites
You enjoy selling in person and don’t mind frequent yard sales or flea market visits
Storage auctions are probably wrong for you if…
You need a steady income
You have no storage space
You don’t like to get dirty
You’re expecting overnight riches
You don’t care to learn anything about antiques and collectibles
Before jumping in with both feet, be sure to try out an auction or two to get a feel for it. This will give you an idea of whether you’ll really enjoy auction hunting or not.
You can also take the time to do some research on storage auction websites to help learn more about them; being prepared can help ensure your success when attending these auctions.
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