When you’re first starting out with storage auctions, it can be hard to determine which items make a unit worthwhile.
It’s tempting to bid aggressively on every unit you come across just so you can win something, but that’s not a good strategy if you want to make money.
Your goal when bidding at a storage auction is always to look for items that you can quickly and easily re-sell for a profit, or items that you personally want for your own house. Anything else is just a waste of space and effort.
Depending on your interests and skills, the specific items you look for may differ from another buyer’s. If you’re very knowledgeable about comic books and action figures, for example, you might be able to value these items at a glance.
Others may overlook them. Additionally, if you know buyers with certain interests, you can cater your attention toward those interests. The more buyers you begin to meet through Craigslist, flea markets, yard sales and other venues, the deeper your network becomes.
All the same, some items are almost always bad news. If you see any of the following items in a unit, think twice before bidding. The odds are pretty good that you will end up with something difficult to dispose of and impossible to profit from:
Out-moded and over-sized technology, like industrial photocopiers
Big-screen rear-projection TVs and computer monitors
Anything that might contain human remains, such as a coffin or urn
Any materials that must be disposed of as hazardous waste, including partially empty paint cans
Used tires, especially those in poor shape
It’s easy to see a recurring theme in these items: Don’t buy things that are large and hold little value.
This seems obvious at first, but it can be surprisingly difficult to remember in practice. Before making a bid on any storage unit, try to think of an exit strategy for the items you’ll end up with. By having an idea how you’ll sell the things you obtain, you can protect yourself from having a yard filled with unwanted items.
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