Home » Business » Business Opportunities

The Best Kind of Mini Storage Auction for Putting Fast Cash in Your Hands

Aug 17, 2007
We love Mini Storage Auctions as a way of getting a lot of items to resell at a fraction of their cost. However, not all Mini Storage Auctions are created equal! If you want to find a treasure trove of items to resell on Ebay or locally, you need to know which auctions give you the best chance of doing just that.

There are two basic types of auctions. One type is where each storage unit will be auctioned off as a complete unit. In this type of auction, typically you are only allowed to look in from the front of the unit in order to decide how much you will bid. In most cases there will be a lot hidden from view and that can be a factor in your favor. These types of auctions may use an auctioneer or they may be conducted by the owner or an employee of the facility.

The second type of auction is where items or boxes are auctioned off individually. This type nearly always uses a paid auctioneer. Typically, the best items are brought out and auctioned off individually and then the residue in the unit is auctioned off as a whole. Please note that there may be variations of these two types and that a facility may use a mix of the two. Calling the facility and asking before the auction is the best way of finding out which type they are planning to have.

We love the first kind of Mini Storage Auction. Even though we are stuck with a dud once in a while, we have always been able to at least triple our bid amount. We often do much better than that because you never know what is inside those boxes or behind the stuff in the front of the unit. Using many different strategies to resell the items in the storage unit will increase your profits tremendously.

In the second type of auction, the good stuff is gutted and sometimes goes for high prices if the crowd is large and includes a lot of resellers. Often, it isn't worth taking a chance on what is left. We have spent many hours at these types of auctions only to come home empty handed. We tend to avoid these type auctions like the plague.

On the other hand, auctions where whole units are sold go quickly and we nearly always win at least one bin. We can have extra cash in our hands as early as later that day if we work hard, fast, and smart.
As general resellers, we can make use of nearly everything in the unit that is clean and in working order.

The big exception to this is someone who is specializing in certain products. For example, we know someone who sells used golf equipment. He does very well going to auctions where individual items or lots are auctioned off. They will often auction off the golf equipment separately or as a lot and unless there are a lot of golf aficionados at the auction that day, they usually go cheap.

The other person that may do better at the second type of auction is anyone who cannot handle the physical labor of cleaning out a whole unit. We make good money doing just that but there is physical work and would not be the best choice for someone who has a bad back or is in ill health. Ditto for someone who does not have means of transporting a large amount of items. These people may also want to stick with the second type of auction and buy only what they can put in their car.

Mini Storage Auctions can be a lot of fun and put fast cash in your pockets if you know the ins and outs. Look for a Mini Storage Auction near you today!
About the Author
Karen Davis uses Mini Storage Auctions to pay for extras for her family. Find out what else she has learned in her new ebook, Storage Auction Momma, at http://www.netfamilysolutions.com. Karen also helps aspiring ebook writers at http://www.intro.wahventures.com.
Please Rate:
(Average: Not rated)
Views: 143
Print Email Report Share
Article Categories