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Topics - CollectOrForget

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Stories about Storage Auctions / Arcade Galore
« on: October 10, 2011, 04:44:04 AM »
Had to share this story:

Other day I had already spent my wad, but had a few hundred still on me so decided to hit one more facility on way home.  They had 2 units owned by same person.  When the opened the first of the two it was filled to the brim with spare parts for arcade and slot machines made by 8-liner.  Went for $300ish.

Second one opened up and was stacked tightly with all the perfect looking arcade and slot machines by 8-liner.  This was the lick I've been looking for!  But I only had $325 on me!!!

There were at least 30-40 units inside of this 10x25.  The auctioneer started at $50 and I jumped it to $250 hoping I could scare away everyone that would want it.  It almost worked.  Finally went to the $325 I had with me and with my fingers crossed the auctioneer was calling out "going once, going twice, going...", then the guy who bought all the broken ones went up $100.  D*mn!

The unit went for $475.  A serious steal.  Those machines are completing around $450 on Ebay and retail for $1400 new.  With 30-40 in the unit, if they worked, he stood to gain at least $10,000... at least.

Lesson learned: bring a lot of cash!

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General Storage Auction Talk / Smartphone Apps 4 Storage Auction business
« on: October 04, 2011, 02:07:58 AM »
Efficiency.  The better you are at being efficient, the more money you stand to make.

With that in mind, I wanted to start a topic where we can all share what smartphone apps have helped make our buying/selling more efficient.

I will start with my 5 favorite uses of a smartphone!  :)

1.  Internet look-up.   As long as I have a decent connection, I can look-up a hard to price item while bidding is going on... that way I have an edge when it comes to the bidding.

2.  Turn-by-turn GPS.  I have Google Maps Navigation installed (it's free) and it gives great turn-by-turn directions from where ever I am to the destination that I choose.  Now I'm never late.

3. My Mileage.  A free mileage tracker that starts automatically when you start driving and tracks how far you go.  Great for tax purposes.

4. Scansfer.  Free app that allows you to accept credit card payment through Paypal for any item you want to sell.  Great if someone doesn't have enough money on them but still wants to buy. Simply create a "payment request" with price and name of item being sold.  The person buying it then uses their smart phone to scan the QR code that is generated which takes them to paypal with all the payment info already filled out... all they have to do is fill out the credit card info and address and it will transfer money to your paypal account.  I'd say you need to have moderate knowledge of smartphones to use it.

5. Balance Book - Profit Tracker.  This one cost, but only $4.99.  It allows you to track all your expenses and profits and puts them all into an excel file that you can email to yourself or your CPA.  Best part is you can snap a photo of receipts and attach it directly to the entry for later viewing and record keeping.



What apps do you use?  Let me know because I'm always looking to improve my efficiency.  ;D

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General Storage Auction Talk / Book/Record Keeping
« on: October 04, 2011, 01:34:25 AM »
Hey I'm pretty new to the forum but have been doing auctions for a little while off and on.  However, I decided to get an account so that I can share new find.

If any of you are looking for an easy way to track your expenses and sales while on the run, I've found an awesome little app that helps with it: Balance Book - Profit Tracker.  The website is softmimo.com

I have it on my Android phone and I think they only make it for Androids, but maybe for iPhones as well.

What's really cool is that I can snap a photo of my receipts while creating an entry and it will attach it to that entry.  Probably the best $4.99 I've spent.

FYI, other than using their services, I am in no way associated with the company I'm mentioning.

Hope this helps someone.  Let me know of any other Android apps that any of you have found helpful in this business.

-Steve

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