Hey guys! Sorry it took so long to reply.

The auction day went well. We saw I think about 8 units at 5 or so facilities. All of them sold for well above our cap, and we were surprised at how much people were over paying. The most intriguing unit went for 875$ because it had 5 cases that looked like potential music instrument cases. Still too much money though.

I am still excited and staying positive. We set our cap, threw out some bids but they were dwarfed in no time. We have no problem passing on units that sell for a lot and only contain junk.

 

No offense, but you just summed up the goal of every single person attending the auction.
It's not as easy as it looks.  One thing to remember is to not discuss (with your buddy or anybody else) what you've just seen.  Step back and discuss it away from the crowd.  So many newbies tend to blurt out "Oh look.....a shotgun!"  doh!!!

Good luck~

And stick to your cap!!!  I failed to do so at my last auction and overbid.  Oy did I lay a guilt trip on myself and talk about stressing out~yikes!  I'm over it now as I've recouped, but dang~

Thanks for the advice, it is much appreciated! And thanks for reminding me not to blurt out what I see, I guess you never know when/how people are listening in!

I think setting the cap and sticking to it will be key for us.

Thanks a lot everyone. I really appreciate the advice.

My partner and I have not ironed out the details yet, but he says he can bring a truck out if we have to. So that's a good start.

And thanks for the advice. I wouldn't mind going to the flea market, and checking out yard sales and what not. All of that is important. I do speak spanish pretty fluently so that is a plus for me as well. I guess I just need to develop an eye for valuing things. I am good in many areas but not good in many others.

I also have my cousin and another good friend behind me that might want to throw in some work and/or money.

Thank you very much guys. I really appreciate the advice.

I am definitely not afraid of getting dirty and working hard. In fact, I think the speed of my work will be of advantage as well. I can lift and move well.

Tonight after I posted this thread I contacted one of my best friends, since I recently heard that he was out of work. He is now my partner! We are going to work out the details soon.

Hello all,

I am new to these forums and new to Storage Auctions. And I thank you all for the information and responses in advance.

I have never been to one, but have been hooked on the idea since watching all the TV series associated with the business. I haven't been to a storage auction because I have not accumulated enough resources just yet. And hopefully this thread can provide me with them. I think that I have the eye for this business, and with patience I am sure I can turn a nice profit. But the waters may be rough once I set sail. Here are some things to consider.bI have an eBay account, with great history as a buyer, and I have only sold a few dozen things. I have shipping literally at my fingertips; I work at a UPS store. I see a fair amount of auctions going on around my area, and although I don't know them at all, I'm confident I can make good locker buys. I think I am going to have to stick with lockers that do not contain big furniture. I have the internet at my fingertips, good street smarts and deal-making ability in my opinion. But I am a very humble guy and intend on making honest deals only without trying to be some run-of-the-mill salesman. All of that being said I think with the right patience I think I can make it. I have doubts, but I do think that this is for me by all means.

PROBLEMS:

- Haven't set aside my padlocks and benjamin's yet 

- I will not be able to handle big furniture.
      - My car has space but it's only a two-door hatch back. I really don't want to acquire a big vehicle for this just yet. I do have good gas mileage though.
      - If I am able to borrow a Ford explorer, It will have to be long down the line when and if my family could ever accept such endeavors.

- I hope to make most of my sales on eBay, and locally. With doing the least amount of driving as possible. I am willing to sell anything that can fit into a box or double box, so long as it's feasible to ship by standards, but I can't be taking in any big furniture.

- I am currently in somewhat of a financial bind, trying to tread water with the unpaid school loans dragging me. But being in my early twenties, I do think I can use this to help.

Thanks again!

Hello everyone! Looking to attend my first auction by the end of the year. I want to set up my eBay account as a store but I don't know how to do that.

I would like to know more about the entire process in due time.

Talk to you soon!