RECAP: First full year auction buying 2/1/13 - 2/1/14 in SC

Well, I hit the 1 year mark today & thought I'd check my stats & try to plan a little better year for 2014. This is what I did in 2013:

I started the year with $5000.

Purchased 24 lockers for a total of $6736.00. The average cost was $281.00 with a high of $956.00 and a low of $35.00

Total sales were $12,980.00.

Overhead was gas for my truck, purchase of a small trailer, paying a couple of youngsters to help move units and renting a 10x15 and a 10x20 storage unit to work out of & sell from. The units totalled $281.00/mo. for 9 months.

I have some cash in my pocket and roughly $3000.00 in inventory.

I still have to work on my "downline"....buying is the easy part - finding sources for customers is harder. I'd like to find a "go to" person for buying bulk used clothing as it would save me a lot of hassle and time trying to move it.

Not getting rich, but moving stuff & having fun in my retirement.

Butch
Coastal SC

Not getting rich, but moving stuff & having fun in my retirement.

And that's the most important thing. Just be patient, it's just a matter of time before you hit a unit that makes your year.

Those big hits are getting harder and harder to find as people are more cautious about what they're putting into storage and potentially losing.. The majority of the success in this business is through elbow grease both before and after the purchase.