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New to Storage Auctions? / Re: You buy a locker and then what...
« on: April 04, 2012, 12:51:00 PM »
There are people that do this full time and that is the income they make. It can range from 20k a year to 50k a year. All depends on how hard you work, your ability to sell, and some luck. Now if you have noticed those people have moved from full time storage auction buying to picking. The reason being the profit margin on units has shrunk in the last 2 years thanks to the shows.
People on here fall into 3 broad categories:
* Full timers (either retired people that do it for extra income, thrift store owners buying inventory, or perm flea market/swap meet vendors buying inventory)
* Hobbiest / Part timers - people like myself who have full-time jobs, or part-time jobs, or housewives, etc. They sell most of the items at flea market, CL, and ebay.
* Newbies / Fly-by-nighters - people that see the show, think it's fun and easy, and jump in feet first. Then they find out about all the work, how hard it can be to sell, etc. Most of these people only last a month - three max before they burn out.
I myself have a very good full time job. I do this as a hobby and to spend time with my oldest. I have fun at the flea market meeting new people, BSing with the vendors and other storage auction people, etc. Making money is just a bonus. The time I spend with my oldest who loves both buying and selling is just priceless. Long as she wants to spend time with old dad, I will drag my butt out of bed and spend 6 - 8 hours at the flea selling.
You can make money on CL and Ebay if you have the right items. You will have to be very selective in your unit purchase. No matter how selective you are however you will soon gather a ton of $5 and under items. These you either donate, trash, or sell. Most of us do that at the flea. The box lot auctions is a way to get rid of it and make some cash like others have said. Just be willing to take what you get. People at the auctions are looking for items that they can re-sell for profit.
Other option is to offer these lots to your fellow auction buyers. Those that do like to hit the flea and stuff. Figure 25-30% return, maybe 50% but still not what you could make selling it yourself.
People on here fall into 3 broad categories:
* Full timers (either retired people that do it for extra income, thrift store owners buying inventory, or perm flea market/swap meet vendors buying inventory)
* Hobbiest / Part timers - people like myself who have full-time jobs, or part-time jobs, or housewives, etc. They sell most of the items at flea market, CL, and ebay.
* Newbies / Fly-by-nighters - people that see the show, think it's fun and easy, and jump in feet first. Then they find out about all the work, how hard it can be to sell, etc. Most of these people only last a month - three max before they burn out.
I myself have a very good full time job. I do this as a hobby and to spend time with my oldest. I have fun at the flea market meeting new people, BSing with the vendors and other storage auction people, etc. Making money is just a bonus. The time I spend with my oldest who loves both buying and selling is just priceless. Long as she wants to spend time with old dad, I will drag my butt out of bed and spend 6 - 8 hours at the flea selling.
You can make money on CL and Ebay if you have the right items. You will have to be very selective in your unit purchase. No matter how selective you are however you will soon gather a ton of $5 and under items. These you either donate, trash, or sell. Most of us do that at the flea. The box lot auctions is a way to get rid of it and make some cash like others have said. Just be willing to take what you get. People at the auctions are looking for items that they can re-sell for profit.
Other option is to offer these lots to your fellow auction buyers. Those that do like to hit the flea and stuff. Figure 25-30% return, maybe 50% but still not what you could make selling it yourself.