Storage Auctions

What has been your average payback on a locker purchase over time?

I have been lurking in the background on this site for most of a year.  I expect to be laid off by the end of the year and am looking at multiple options for some additional income while I look for another job.  I live in the Dallas/Fortworth area so there is no shortage of auctions and yes I have a pickup, trailer and additional storage.  I know how to find the auctions that are not posted on the internet.  In years past I purchased cars, vacant lots, and general merchandice at auctions so the process is not new to me.

However, I have never seen a thread on what the expected return is.  This site has included lockers that sold in the several thousand dollar range to the $1 or free lockers.  The site has included both high and low dollar gains and losses.

It appears most people on this thread will purchase between $1.00 or "free" to about $800.00 and stop there.  Most of you tend to stop around $400-$500.00 and let the newbies or those who specialize, go upwards from there.  Most of you will travel up to about 50 miles to an auction, some avoid caravan or published auctions while other do not. 

So, to my question

If you purchased 10 lockers over time and,

you spent $25.00 or less on a locker at the auction, what would you expect to get back in cash when the items were sold?

you spent $100.00 on a locker at the auction, what would you expect to get back in cash when the items were sold?

you spent $250.00 on a locker at the auction, what would you expect to get back in cash when the items were sold?

you spent $500.00 on a locker at the auction, what would you expect to get back in cash when the items were sold?

For the purpose of this question, Please do not consider your gasoline, trash run, or time.  Yes, I know there is a wide range, but, if several of you answer with a single answeer or narrow range, a reasonable answer will show up.

If several of you reply, I will put the data together and I believe it will be beneficial to most of you as well as those, like myself who only read the threads.
(for now anyway.)   Once I am laid off, it may become a temporary source of income while I draw unemployment and look for another job.  Who knows, after that I may continue doing it.

Thanks for reading the thread and I hope it helps everyone.

Ken






Offline MovieMan

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Re: What has been your average payback on a locker purchase over time?
« Reply #1 on: October 23, 2011, 03:00:01 PM »
I think the simple answer to each of your questions has been provided in the forum a number of times.

The GENERAL rule is that one would like to double one's money spent. Spend $50 hope to sell $100, etc.
What amount of time that might take is an open question that probably doesn't have one answer.

A lkr I bought two months ago for $350 has generated about $1900 in profit which is terrific, but I still have both small and LARGE items from that lkr; looks like I will have to cut prices on the big stuff to get it to move, or just keep storing it and advertising it at the prices I have now.

Many of the regular sellers here have talked about turning over product quickly to make room for new product. That works, but frankly I don't mind holding on to something for a while to turn a few more bucks on it.

When it comes right down to it, all the research in the world won't give you the answers to any questions faster than just doing it with all the guidance you've gotten to any given point. There are always new lessons to learn.

Edit:

My best year was 2006 when my year end figure was 2.78 (thereabouts) x the money. This year (year to date) I am running at 1.75.

Since I buy typically from $25 to $1,000 or so quite a range is represented, but generally speaking I will spend $350 to $700 on a regular basis and again expect (or hope) to double the money on any given lkr.

Re: What has been your average payback on a locker purchase over time?
« Reply #2 on: October 23, 2011, 05:17:46 PM »
I'm a poor example as I do this part-time and mostly for myself (ie items I want to keep).  As such I've purchased 8 lockers for a total so far of $808 spent.  I have only found cash, gift cards, stamps, or sold for $388.72 so I'm in the red for $419.28.

Now as far as the regulars in my area that do this full time.  I mean buy, sort, do flea market & auction sales, etc. they do pretty well.  Most of the regulars come in two sorts.  Those that are retired and do this as a way to keep busy.  They sale at the flea market and at auctions.  None of them get rich but they do come back every month and have been doing this for years.  The other group are the regular auction/store buyers.  They buy multiple lockers each week, have a crew, a physical location to sale, etc.  I don't know their figures of course but they seem to do well.

Re: What has been your average payback on a locker purchase over time?
« Reply #3 on: October 23, 2011, 06:53:40 PM »
I agree with movieman.You always try to double your money.Hopefully it should average out.
Depending on how you intend to sell the items it is a constant turn around.

I try to make my money back within 30 days.Winter it may be a little slower because of less flea markets.

Its important to turn the items around as quick as possible.Don't get caught up in the I know its worth more.Its only worth what somebody will pay for it.


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