Author - Chuck G.

What are the indicators of a good unit, whether at a live storage auction or in an online storage auction?

First rule is not to take what you see at face value. Second rule is to take what you see at face value. Confusing, I know, but let me explain.

Here’s a true story.

One storage unit up for auction had two large boxes labeled “clothes.” Take that at face value. First thought – junk. At the auction no one wanted the unit and it was sold for $5. What was inside the boxes? Clothes. Brand new authentic designer clothing, many still with price tags.

Of course, you can buy two large boxes labeled clothes and the opposite happens. It’s trashy clothes that you couldn’t donate to the poor. That’s why it’s difficult to take a storage unit at face value.

However, consider indicators of what might be a good unit.

Neatly Stacked Boxes

Anyone who goes through the trouble of stacking boxes neatly one on top of another cared about the items they left inside that storage unit. The use of professional moving boxes also a plus.

Wrapped in Plastic

Furniture, rubber containers or boxes wrapped in plastic is a good sign. It’s time consuming and can be expensive to wrap the majority of the items within a storage unit.

Visible Items

You may see electronics or furniture. Take a good look at the electronics such as televisions and computers. Are they dated or new? Is the furniture good quality, or torn and worn? What value you put in what you can see may correlate to the value of what you cannot see inside boxes or containers.

Garbage Bags

People do load up garbage bags full of clothes. But people also fill garbage bags full of receipts, files, paper trash, and well, trash-trash. Why they store trash inside of a unit instead of throwing it away, who knows?

Clean vs. Dust

A clean, well stacked and stocked unit beats a dusty, trashy unit everyday of the week and twice on Sunday. But there’s a flip side. A dusty unit could also mean someone kept up the payments for a unit but never returned to the facility. You could find antiques or collectibles within. Dust is one thing. Mess is another.

As you look at a unit online check it carefully for the indicator listed above. From there you can ask questions from the seller to help ease any concerns you may have.

Most of all use common sense. If it looks like trash, stacked like trash, most likely it is trash. Some things really should be taken at face value.

Please leave your insightful thoughts in the comment box below.

Should you consider a partner at storage auctions?

This really depends on your current success at storage auctions. How well you do on your own and what goals you hope to reach.

Definitely, there are pros and cons to having a partner, but a solid partner can catapult you into more wins at storage auctions.

More wins = more items = more profit.

Basic Pros:

1. Double the money you can spend on storage units.
2. Double the manpower to clean out the locker.
3. Double the eyes when it comes to spotting and valuing items.

Like having a twin whom you can count on to do all the work equally, but on the flip side we all know not all siblings are created equal.

Basic Cons:

1. You partner may not share the responsibility equally.
2. You’ll need your partner’s approval before purchasing a unit.
3. You may have to deal with arguments or disagreements.

You will feel as though you are carrying dead weight and will quickly break off the alliance.

Your first thought in forging a business union is to corral a friend, but mixing money and friendship may not always be a bright idea. Take a look at the auction circuit. Make friendly with those whom you see at most auctions.

Assess and evaluate your type of wins with their type of wins. Then approach someone about possibly going in together to buy ONE unit.

One unit to test the waters.

It’s best for you and for them not to jump into a partnership quickly but instead, take it one unit at a time.

After a few units here and there you will see their personality and they will see yours. Assess their work ethic, time management, money they have set aside for auctions, etc.

You may go through a few “test partners” before you find the right fit. This however should be considered carefully because buying storage units involves money.

A good partner should also have skills sets you don’t possess. For instance, knowledge in areas such as electronics, furniture or collectibles, anything in which you are not well versed.

You not only double your resources but you also double your knowledge.

Consider where you are and what your goals are as an auction hunter. If you are satisfied buying solo, continue. If you are ambitious and want to grow a business, then scout for a partner and test each one first.

It may take time to find a good partner but the end result could be $$$.

Please leave your insightful opinions in the comment box below.

It’s not uncommon to find designer merchandise inside a storage unit. However, before you Snoopy dance after you’ve opened a box full of Louis Vuitton handbags, make sure they’re real deal.

Counterfeits accounts for almost 10% of the world trade.

That’s simply unbelievable! Knock-offs in fashion will be in apparel, sunglasses, watches, handbags and head wear.

Once you’ve learn to spot what’s fake, you’ll know if the items in your storage unit hit the runway or belong in the alleyway.

Candy Olsen and Courtney Wagner from Storage Wars: New York can spot a knock-off in a ginger snap! They’re fashionistas by nature and if they see a handbag inside a storage unit, they can tell if it’s fake or real.

But can you?

Easy way to spot knock-offs on apparel and handbags is that the stitching should be perfectly even without any loose threads. Metal accents like zippers should be heavy not lightweight.

If it’s leather then it will feel dry to the touch, not sticky or oily. Watch for misspellings of the brand name or skewed logos. A well-made expensive watch is heavy when you hold it.

A few name brand characteristics to look for:

Louis Vuitton – Zippers must be stamped with logo or insignia. The “O” in logo is not oval but perfectly round. Seams match up evenly on both sides of bag. LV logo is never broken on any seam or cut. Date stamped somewhere in the interior.

Marc Jacobs – Zipper embossed with either RiRi or Lampo zippers. If the letter “i” does not look like this:  \ but is a regular “i” on RiRi, then it’s a fake. At the bottom of the zipper you will find a number below the brand name.

Coach – The C’s should be lined up perfectly to the center of the bag. Should look like C’s not G’s. Signature logo for Coach is two C’s next to each other in doubles. The “Coach” tag matches the trim of the bag and the letters should be raised not imprinted.

Rolex – Ticks at around 5-6 times per second, which gives the illusion of a “sweeping” or “floating” second hand around the dial. Knock-offs tick at 3 to 4 times per second.

It’s impossible to list every single designer brand and its characteristics. However for there is one true indicator for just about everything.

If the materials feel cheap, the color looks weak, and the hardware (metals) are lightweight…

It’s probably a knock-off.

Please leave your creative comments in the box below.

You won your first virtual storage auction. Paid then hauled the merchandise back to your home. You have boxes to dig through, clothes to sort and electronic equipment that may or may not work.

Now what?

How do you flip your inventory into a profit? Unfortunately there’s no set formula. Many factors come into play. Your location which includes the street you live on and populous of the neighborhoods that surround you.

Are you willing to answer a flood of emails if you choose to put items up for sell on the Internet? The climate where you live plays a part on flea markets or swap meets. Consider these factors:

• Are yard/garage sales successful on your street
• Any flea markets/swap meets nearby and do you possess the patience to stay the day
• Can you describe an item well enough that it will appeal to eBay bidders
• Do you live in an area in which you can move an item on Craigslist

Let’s explore a few of these options.

Flea Markets/Swap Meets
You pay a fee to rent space. Indoor flea markets cost more and other flea markets charge more if you use tables. Also consider the cost of gas if the flea market or swap meet is a distance away. Think about whether or not you are willing to sit all day indoors/outdoors from early morning to early evening.

Garage & Yard Sales
Location. Location. Location. You’ve heard this many times. Skim through your local newspaper and check how many advertisements there are for garage/yard sales near your area. Drive around your neighborhood on any given Saturday or Sunday during good weather for yard sales. Signs for your garage sale twenty blocks away do not guarantee you’ll see any traffic.

eBay
Mega world-wide store and yes, there’s a “but.” You are competing with the entire USA to sell your inventory. You should take a good, clear photo of the item. Put up a marketable description that will appeal to bidders. Offer a 100% guarantee on most items. Answer all emails in a timely fashion.

Craig’s List
Site to unload your merchandise locally but there’s a catch. If you do not live in a populated area it’s a bust.

While it appears I have slanted each of these venues in a negative viewpoint, the only way you can move merchandise is to understand the reality of the effort it takes to sell you inventory.

When I lived in Texas, flea markets were the best route to sell anything and everything. When I moved to California I chose eBay, Craigslist and yard sales. Now I live out in the boondocks. My venues are very limited.

Instead of relying only on eBay and Amazon, I’ve sold items on Internet forums. You would be surprised how many Internet forums have a market place.

I can personally testify I will never again sit through 90°F weather with 85% humidity in an open air flea market or yard sale in Texas.

Take a moment to consider which venue fits your personality and the time and effort you are willing to invest to sell your merchandise.

Which venue is best for you?

Please leave your creative opinions in the comment box below.