Storage Unit Auctions what to expect

Okay, I can't reveal all the secrets .But here are three secrets on how to make money at storage auctions.

Lets cover the obvious, Bid low sell high. Simple right, Well not always, When you go to a storage auction its kind of like playing a poker game, you have the regulars that have been going for years , the ones that bluff you. The best advice is to watch your opponents. See what they are bidding on and how much they are willing to bet. Remember this for the future games. The type of bidders .

1. You have Mr. Money Bags. He bids on auctions and you most likely not going to win. Tip, don't try to outbid him , get to know him maybe he will let you have a unit if your both bidding.

2. The scrappers. These people are in the game for metal only. They don't care about the looks and they want all of the metal. So if you come across a unit that has all metal expect to pay a high price.

3. The business owner, Obviously he is Mr Money bags but not always. They are very firm in bidding when they get it in there head they want and item, they will bid it all the way.

4.The I just want to run up the cost person. Yes, it is true , I have had a person that bidded and walked off they just wanted to run the price up. lucky for me I got something that we thought was a dehydrator ended up being a infrared convection oven. Can you say Cha-Ching.

5. The Cheapskate. These bidders just go to them hoping to find a 5.00 unit . They will find one, these are units the other people have no interest in. Now that I have narrowed it down on the types of people that go to storage auctions.

Here is a few tips,

1. Have a goal. Know how much you are willing to bid for the day and how much you are willing to unload. These auction sites require you to unload and clean the unit with in 24 hours . Make sure you have the means to do so and remember they are so much bigger when you are doing the work.

2. Have a place to store the items, Some people rent storage units,others keep the items in there home.

3. Trash bags are a good sign of an eviction

4. Don't become a hoarder. Remember there is a reason for you to go to these auctions. Do not get attached or you will be keeping every little thing you like.

5. Be patient, If you don't get a unit and its getting late in the day control yourself. You want to make a clear decision when your bidding so you don't get stuck with an overpriced unit.

6. Know what your going to do with the items once you receive them.

7. Last but not least. Do not throw away pill bottles with out looking inside. I almost did that but my husband opened it and there was a diamond in it. , Do not throw away any gift cards. Again my husband check one for Wal-mart and we got 100.00 on it. Do not disregard any porcelain items. I found a pair of vases and I didn't know much about them but noticed there was a signature which made me look closer to find that it was hand painted. I through those on Ebay and got 150.00 for them. I got a tiffany lamp I tried to research and research I couldn't find it anywhere . Thinking for sure its not real, I put it up on eBay and got 510.00 for it. So If you don't have a clue do as much research as you can and put it up for auction.

Storage Unit Auctions what to expect

By: jana

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