Storage Auctions
The Storage Locker => Stories about Storage Auctions => Topic started by: ryante on November 23, 2011, 01:04:30 AM
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Hi guys. For those that didn't read my first post, I'm new in the auctions but well versed in picking. I'm just now getting this and having a blast. Loving the forum too.
My first unit was a $120 10x40 20% full hoarder unit that we pulled $2500 out of so far with the rest going to the flea market for a few weeks.
Today I got out with intentions to buy a small unit. I found the unit I wanted, a 5x7.5. I paid $140 for it on a gamble. I saw lots of camo gear, BDUs and the like off in the back. In the front was a black tool box latched down.
I was hoping for some good tools or possibly guns.
Turns out that it was just more BDU pants and miscellaneous clothes.
Most of the unit was junk household goods. Flea market material and I was pretty bummed.
However, after my mother an I started going through it we found about 15 Ralph Lauren shirts that we can sell for $25 - $30 a piece.
All in all, I wasn't happy just because my gamble didn't really pay off the way I was hoping, but I guess we made out alright.
The more I go to the auctions, the more I realize how lucky we got getting that first unit for $120 and turning a good profit.
I'm gonna burn some of this stuff off at the flea market and hopefully go out for another one next week! Loving it so far.
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Yep - you may of burned all your luck on that first unit. However, sounds like you will do well on the second unit. Prices do seem cheap in your area even compared to mine. I thought I had some of the lower prices.
Out of 10 units - 1 should do well. Anywhere from 6-8 will break even / make a little profit, with the others being mistakes on the gamble. Some people can pretty much break even on every unit and then really rake it in on a good unit. Just takes time to gain experience, contacts, etc. You never stop learning.
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Congrats!