Mini Storage Auctions Are Lucrative

One of the easiest ways to make the most is to choose which auctions you attend and do so wisely.  Call ahead to ask for more information.  How much stuff is up for sale?  It is worth the trip?  When possible, attend local mini storage auctions, as doing so can reduce your travel expenses.

To make the most money with mini storage auctions, buy the best stuff.  Unfortunately, this can sometimes be easier said than done.  Do you get to inspect the items that you are bidding on?  If not, you are making a blind purchase.  Yes, you may get a boxful of antiquate jewelry that you can resell for a profit, but you may also only get a box full of family photographs.  Since there are no guarantees, place your bidz wisely.

If you find a storage auction where you are able to view the items up for auction beforehand, even just for a quick minute, attend it.  Having a good idea of what you are buying increases your chances of making the most money.  Although clothes, jewelry, furniture, home décor, movies, and toys can sell, know what is the most profitable.  Often times, it is antiques, furniture, and jewelry.

To profit from the resale of your mini storage auction winnings, you need to limit your expenses. For that reason, you should carefully review your reselling methods and their costs.  Remember, the less money you spend, the bigger your profits will be.

eBay is a popular way to buy and sell stuff online.  Since millions of shoppers visit the website, you have a great chance of making multiple sales.  You are, however, charged fees.  Not only do you pay a set fee to list each item, but you also pay a final value fee, which is a percentage of your sale.

Craigslist is increasing in popularity and it is a great way to resell merchandise online.  With Craigslist, you can post your items available for sale, but you can do so free of charge.  Despite seeing a steady increase in popularity, not everyone uses the website and it is not as popular as eBay.

You can resell your mini storage auction winnings by hosting a yard sale.  For the most part, yard sales are free.  The biggest investment you make is with your time.  To increase shoppers and your sales, advertise.  You can do so online, in newspaper classified sections, or with signs.

Flea Market are another option, although many like to use this only as a last resort.  Flea markets are popular, but many are noticing a decline in shoppers.  You also have to rent a table.  This rental fee can be quite high, especially when you aren’t guaranteed to make any sales.

The decision as to what you buy at a mini storage auction and how you resell those items is yours to make.  You should rely on your own personal preferences, but remember to keep your eye on making money.  Do not forget that is your main goal.  For that reason, choose the easiest way to resell, but also the way that you can make the most money.

Learn to make money with mini storage auctions

Mini Storage Auctions

If you are new to making money with storage auctions, you may be wondering how the process works.  First, you need to find auctions.  These auctions are usually advertised online or in a newspaper classified section.  Depending on the size of your city or town, you may have a local auction once a month or more.

Unless otherwise stated, you will want to bring plenty of cash with you.  Most storage companies will only accept it, not credit cards or checks.  When carrying large amount of cash, take extra steps to keep it safe.

Inspect the items available for sale through bidding if you can.  This may involve arriving ten or twenty minutes early.  See if you can lookout around.  Even if you cannot open up sealed bins or walk all the way into a storage bay, perform a quick inspection.  You can sometimes gauge or estimate the value of items inside.

As for what you should look for, remember that you want to make a profit.  Try to find storage bays where most items are visible from the outside.  These are items that are out of or cannot fit into a box.  Furniture is nice and easy to resell if you plan to do so locally.

You can place bids on sealed bins or storage units that are filled with them, but this can be risky.  You never know what is inside.  Look for moving boxes that are labeled with a company name or logo.  This is a sign that household items may be inside.  Household items, in most cases, are easy to sell for a small profit.  On that same note, many boxes are used to pack away important documents and family photographs.  These items are, essentially, worthless to you.

During the bidding process, remember your goal of making money.  To make money, you must limit your business expenses.  This means that you want to win a storage bay filled to capacity with valuable things, but you don’t want to overpay for it.  Never bid higher than you can reasonably afford.

If and when you win at a mini storage auction, you will need to remove the items from the premises.  You should know ahead of time, but you may be required to have all items offsite within twenty-four hours.  If you do not have access to a truck or van, bring a padlock with you.  This can allow you to keep your purchases locked and safe when making multiple trips in a small car.

If you want to make money, but quickly, you will want to start reselling your items right away.  For some the ability to quickly resell is very important. Are you limited on space in your own home?  If so, you may not have room for all of your purchases.  If you want to move these items out of your home and off your property fast or if you want to make a quick profit, host a yard sale.  Yard sales are nice because they can be hosted at a moments notice and because everything is laid out for sale all at once.

If you are more focused on making the biggest profit, as opposed to selling off the items quickly, examine eBay.com or Craigslist.org.  They are two popular websites online.  Craiglist is not as popular as eBay, but it is increasing in popularity and it is free to post local advertisements.  eBay is popular, but you are charged numerous fees.  If you have time, you may want to try both.  List half your items for sale on eBay and half on Craigslist.  Which approach makes you the most money after winning your next mini storage auction?

No Telling What You Will Find in Mini Storage Auction

Mini Storage Auctions Survival Tips Below

DON’T go unprepared.  If a phone number is provided call ahead of time to see what you need.  Most likely, cash will be the only accepted method of payment.  Ask if you can arrive early to look around.  Know if you have to pay a fee to participate in the auction.

DO anticipate on winning a storage unit auction, even if you do not.  This is important, as you usually have 24 to 48 hours to remove all items.  For that reason, it may be best to arrive with a truck or a van. At the very least, bring a padlock to secure the unit until you are able to return.

DON’T try to buy back your belongings at a mini storage auction.  If you are behind on your bill and find that your items are being sold, talk to the owner right away.  Some will cancel the auction up to a few hours before if you are willing to pay your overdue bill.

DON’T bid too high on sealed bins or closed storage units.  Yes, you may walk away with a lot of valuables, but you may also walk away with nothing more than family photographs and personal documents.  Even if you can’t look around, you should be able to take a quick peek inside a storage unit from outside the door.

DO look for signs that you have hit the jackpot.  This can also give you a good bid idea of how much to bid.  Look for storage units that are packed full, filled with home appliances, furniture, name brand products, and antiques.

DON’T bid high just to win.  Unfortunately, it is easy to get caught up in the moment at mini storage auctions.  Yes, losing to a higher bidder does stink, but don’t let the competitive environment cause you to lose money.  Remember, there is always next time.

DO try to resell what you can from mini storage auctions.  If you must, get creative.  Do you have a lot of poor quality or stained clothes?  Cut up the clothes to create scraps for sewing.  Sell them by the boxful.  Do you have a broken piece of furniture?  Try to fix it before opting to throw it away.

DON’T pay to dispose of items you can give away for free or donate to a charity.  Remember your main goal is to make a profit.  This involves limiting your expenses, including trash removal costs.

DO know that you have a number of different reselling methods.  Hosting a yard sale may be your first idea, but that is not your only option.  Many successfully use yard sales, flea markets, online classified ads, newspaper classified ads, and eBay to make a profit from the buying and reselling of self-storage auction merchandise and you can too.

DON’T give up if you have a bad experience the first time around.  Did you pay $100 only to learn that nothing can be resold for a profit?  If so, don’t let that stop you from bidding at mini storage auctions.  To see the most profits, it is all about consistency.