Storage Auctions
The Storage Locker => General Storage Auction Talk => Topic started by: The Prodigy on January 26, 2011, 10:19:54 PM
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I was wondering what you guys make monthly of pure profit!
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I was wondering what you guys make monthly of pure profit!
I doubt anyone would tell you that, but I could be wrong. I will tell you that the goal of the majority of my cronies is to double what they spend on a locker. If you buy one for $500, you would expect to sell the goods for $1000 and thus have a net of $500 profit. Of course, you'll buy some for $100 and maybe make $55 profit or maybe break even.
So much depends on the unknown contents and sometimes it's just a matter of luck. Keep your expenses down (storage, gas, lkr cost) and sell as high as you can without driving people away from your table or your eBay item.
Give it a try part-time at first and see how it goes.
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I think to double your money in gross sales would be about the worst you could do and make money. I have lost money on lockers and I have made 100 times my investment. I have lost money on $1 lockers and made money on $700 lockers. You have to figure in dump fees and gas spent hauling the stuff around. I think if a guy was careful and worked hard at it he could pull in a decent salary but it is hard work and it is uncertain you can not plan on making a certain amount every month. You can not make money on every unit it is not like the TV show.
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I have a rule of thumb to atleast tripple my money.
So far it has worked, and i try my hardest every day to maintain that. Your worst enemy is overhead and cost. Be smart and keep your cost down and the overhead at a healthy level.
So far i have spent about 500.00 on lockers, and i have made 2200.00 And i still has a huge inventory left to sell.
It depends on the locker you get. some you break even on, some you loose money on, an some you hit the motherload of all jackpots.
One unit i got i paid 20.00 for, all that was in there was a dresser, and i sold it last night for 225.00