Storage Auctions

Online auctions make it easier to get carried away

Offline Travis

  • *****
  • 5484
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Online auctions make it easier to get carried away
« on: January 29, 2014, 09:35:58 PM »
Topic started by mhuynh9.

I am new to storage auction buying, but have been able to turn a nice little profit picking cheaper smaller units. I recently got a partner and we have done well together until he went way overboard on an online auction. He was stand up and fronted all the money, it will take us months to maybe break even on that locker. I will also be stand up and help him move and sell the contents but I think I will be dissolving the partnership to retain the friendship.

Anyway just a thought with online auctions. You don't have the money in your pocket and usually have a couple of days which allows for overspending. I think there is some value to online storage auctions I was able to pick off a small locker for $20 and will be able to at least triple my money but unfortunately I would need to make 90 times that to cover the other one.



    Quote from mhuynh9 on September 23, 2013, 20:55
    Anyway just a thought with online auctions. You don't have the money in your pocket and usually have a couple of days which allows for overspending.

Response by Alloro: A major rule of auction buying is to bid based on the perceived value of the unit and not how much you can afford to pay.


    Quote from Alloro on September 23, 2013, 20:58
    A major rule of auction buying is to bid based on the perceived value of the unit and not how much you can afford to pay.

Response by HomeGrownPromos: And perceived value is based on what you can see, not what you think is in there.
 


xx
New way to make money at storage auctions.

Started by MovieMan

2 Replies
2428 Views
Last post March 14, 2013, 11:37:43 PM
by Travis
xx
Do storage auctions make you feel like you're gambling?

Started by Travis

2 Replies
2324 Views
Last post October 22, 2013, 11:51:50 PM
by alloro
xx
How To Make Money With Storage Unit Auctions Ebook

Started by rulesforrebels

1 Replies
2623 Views
Last post March 31, 2014, 09:13:00 PM
by Charli
xx
Craigslist just got easier!!

Started by countinguy

5 Replies
6088 Views
Last post June 26, 2011, 11:20:03 AM
by jrossjr79