1
Stories about Storage Auctions / Im just starting out
« on: December 04, 2013, 05:54:42 AM »
Last spring (2012) I started going to thrift stores and garage sales looking for cool collectibles and retro items to resell on ebay. I had a brand new ebay account, it took me about 4 months to get all of my limits lifted and paypal debit card. I mainly hunted for old toys like tonkas, action figures, mugs, tin toys, signs and advertisement items. But then I started to cut corners by buying toy collections off of people up and down the westcoast. By dec 2012 I acquired such a large amount of toys, I filled up a 1500sq warehouse. I stopped hunting for awhile and focus on selling my inventory from jan 2013-Oct 2013 during that time I reached over 1100 score on ebay. But I grew weary of the targeted possible consumers and in Nov 2013 I took down my inventory on ebay and decided to try my hand in the storage auction realm. I bought 5 units in a 2 week span. Luckily I own a dump truck for the dump runs, and that I have a warehouse to store all of the stuff.
Here is a break down:
week 1
Unit 1 $325 - Beach cruiser, trampoline, kids clothes, kitchenware, lots of crap
Unit 2 $425 - Old dolls, Armoire, collectibles, century vintage fan, this was a solid unit
Unit 3 $475 - China hutch, china, glass ware, nicnacs, vintage stitched blankets, table, mirror
week 2
Unit 4 $325 - 10x25 unit full of boxes and ton of crap %75 was garbage. Rest was vintage glass
Unit 5 $375 - 10x10 unit Lincoln welder, airless paint sprayer, Fridge, Stove, 2 motorized wheelchairs, vintage chair
So i spent about $2000 just on the units including tax, add another 400 on dump runs and gas. So easy to say roughly $2400 spent on these 5 units.
The first 3 units were my learning curve mistakes. I made maybe 400 in profit from those 3 total. Really hurt to find out that the hutch had issues.
But I came back and bought 2 more units (4&5) Unit 4 NOBODY wanted due to the size and how much crap was in there, but i already knew that would be a problem for me since i had a dump truck. I made $1210 on our first warehouse sale from that unit just on all the glassware and nicnacs! People went crazy over the stuff and since i had most priced at $1-$2 it sold like crazy. Unit 5 I made so far about 500 on profit and still have the stove, vintage chair and some smalls. I plan on bulk selling the rest to make room.
Next time (next week) i will be very careful on what i bid on and make sure I dont need to make too many dump runs!
I really do enjoy the thrill and fun of storage auctions! My only regret is why i didnt do this sooner
Anybody on here do good on there first time out?
Here is a break down:
week 1
Unit 1 $325 - Beach cruiser, trampoline, kids clothes, kitchenware, lots of crap
Unit 2 $425 - Old dolls, Armoire, collectibles, century vintage fan, this was a solid unit
Unit 3 $475 - China hutch, china, glass ware, nicnacs, vintage stitched blankets, table, mirror
week 2
Unit 4 $325 - 10x25 unit full of boxes and ton of crap %75 was garbage. Rest was vintage glass
Unit 5 $375 - 10x10 unit Lincoln welder, airless paint sprayer, Fridge, Stove, 2 motorized wheelchairs, vintage chair
So i spent about $2000 just on the units including tax, add another 400 on dump runs and gas. So easy to say roughly $2400 spent on these 5 units.
The first 3 units were my learning curve mistakes. I made maybe 400 in profit from those 3 total. Really hurt to find out that the hutch had issues.
But I came back and bought 2 more units (4&5) Unit 4 NOBODY wanted due to the size and how much crap was in there, but i already knew that would be a problem for me since i had a dump truck. I made $1210 on our first warehouse sale from that unit just on all the glassware and nicnacs! People went crazy over the stuff and since i had most priced at $1-$2 it sold like crazy. Unit 5 I made so far about 500 on profit and still have the stove, vintage chair and some smalls. I plan on bulk selling the rest to make room.
Next time (next week) i will be very careful on what i bid on and make sure I dont need to make too many dump runs!
I really do enjoy the thrill and fun of storage auctions! My only regret is why i didnt do this sooner
Anybody on here do good on there first time out?