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I've been doing this for a while now.. about 2 months really

I've been doing this for a while now.. about 2 months really
« on: February 27, 2014, 02:13:56 PM »
I know no time at all but I've done other things almost like it before.  In the last month I was watching 5 auctions going on at the same facility on an online site. Anyway, they were all ending like 10 minutes apart.. Good I thought.. Well that being said, I bid on them as they were getting close.  The same person kept winning the units over and over on me. The last one was garbage.. you could tell, bags of used coke cans, trash on the floor, matresses, well it was the same bidder. I bid up stupid on it..at 50$ it was more than I wanted, but I put a 200$ bid on it. It sold to them for 210.00 no great loss, well this week I happened to seem a couple of the other units BACK up for auction and the same bidder winning on them.   Anyone thing that just maybe they are just doing this to drive prices up at their facility?  Or is it just me?? 

There is another facility here in town I won't buy from, bough one unit, looked good, everything was broken, dirty, nasty matresses, I found someone to take it all away for free giving them the couple thing that were not trash. I've watched their units even from others in the chain, they talk them up big time, listing stuff as if it was GOLD, you know "Nice flat screen tv" when its a CRT flat screen tube..

Most of the places are really nice to helpful.. Wish there was a rating for facilities doing this junk.  I mean sure people do leave behind trash.. but not like this. 4 different sets of family pictures, an eldery potty chair.  I've came out ahead on all my units so far, only one that was more work than it was worth out of 9 units.

Re: I've been doing this for a while now.. about 2 months really
« Reply #1 on: February 28, 2014, 09:20:04 AM »
It's a very unique business for sure.  So far half the battle has been identifying what I have.

Offline MovieMan

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Re: I've been doing this for a while now.. about 2 months really
« Reply #2 on: February 28, 2014, 10:08:46 AM »
So far half the battle has been identifying what I have.

And researching the unknown items can result in better profits than just turning it over to someone who
already knows about it and wants to reap the real profits.

Research takes time but can pay off and if something truly isn't worth a lot, that's good to know too.

I have learned about new, profitable items through research and once I have sold something for many times what I paid for it I look for it again.  I have bought 6 specialized tools based on one great sale from the first two I bought.

First tool I paid $45 and sold for around $300. Second one bought new (at same source as first one and at same time) I paid $75 and sold for $1,000.  If that wasn't valuable research I don't know what was. Buying from unknowlegeable sellers (for whatever reason they don't know about the product) is still true....buy low, sell high.





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