What Are Mini Storage Auctions? Mini storages are a convenient and popular way to store a wide range of items, ranging from family photographs to furniture and other household goods. Many look at self-storage units and wonder "why I didn't I think of that?" Yes, it is a profitable business, but like with any other business, there are customers who don't pay. This is when a mini storage auction is held. If you are unfamiliar with self-storage auctions, you may want to learn more. You may have a ton of questions. How are auctions held? Can you participate? What types of items are sold? If these are questions that you have, please continue reading on to get your answers. As previously stated, mini storage auctions occur when a unit renter does not pay their bill. These auctions aren't the result of one missed payment. They are the result of multiple missed payments. The storage auction company in question will, in most cases, do everything in their power to get the renter to pay. However, there comes a point in time when they need to recoup their losses. As for how self-storage auctions are held. It varies, depending on a number of different factors. Some states have strict rules, while others are more laidback. Many times, it depends on the storage unit company or the third-party hosting the auction. Most auction off whole units, including all of its contents. There are, however, auctions where you bid on one or two sealed bins at a time. As for what items are sold that these auctions, you can find and buy just about anything. Items can include family photographs, financial documents, jewelry, clothing, home decor, furniture, and so forth. The only problem is that you rarely get to inspect the items. Most boxes and bins are left sealed. You may be able to quickly peek inside, but not physically inspect everything. That is why these auctions are referred to as being risky. As for who can participate in storage unit auctions, anyone can. Depending on the state in question, you may be required to pay a small fee if you don't have a reseller's certificate. This fee, if it is charged, is small. To actively participate in a mini storage auction, you will need to have cash. The more the better. As nice as it is to hear that you can participate in a mini storage auction, you may be wondering why you should. There are a number of different reasons. Are you looking for affordable merchandise to own? Do you like shopping at yard sales? If so, you may like attending and bidding at a public storage auction. In addition to stocking your home full of affordable items, you can also profit from mini storage auctions. You do so by reselling what you buy. If you bid low enough, you may be able to make a substantial profit, provided you walk away with items that can be resold. When it comes to reselling these items, selling on eBay or hosting a yard sale is recommended. As a recap, mini storage auctions are the result of unpaid rental fees. If you would like to bid at an auction or just see what one is like, look in your newspaper classified section. This is where you will find information on local auctions, including dates, times, and any necessary requirements. Mini Storage Auctions: What You Need to Know Are you looking to use mini storage auctions as a way to make money? If so, will this be your first time attending an auction? If yes, please continue reading on for a few helpful and important tips, which can help you walk away happy. Public storage auctions are a great way to make money. Depending on the auction in question, you either bid on sealed bins or whole storage bays. You are essentially making a wholesale purchase. You are offering to pay one set amount for a lot of merchandise. This is where you can make money, as some of those items may be valuable or sellable. Despite the fact that you can make money with mini storage auctions, doing so can be risky. A wide range of items are stored inside these units. These items may include clothing, furniture, books, movies, toys, home decor, household appliances, and jewelry. There are also people who store their old financial documents and family photographs. You don't always get to physically inspect everything, so there is some risk involved. As previously stated, you may not get to physically inspect all items up for auction, but you can get a close look. For that reason, arrive early. You should arrive no later than ten minutes before a public storage auction is scheduled to start. When scanning a storage bay that has merchandise available for sale, look for large items that are easy to see, like furniture. What type are they? Are they modern, cheap, or antique looking? This can help you guess as to what else is inside. Cheap furniture, like furniture that looks like it came from Wal-Mart, may be a sign that the rest of the items are cheap as well. Of course, cheap doesn't necessarily mean poor in quality. If you intend to bid, as opposed to just watching how an auction works, bring cash. Most only accept it. Rarely, will you find an auction where credit cards and checks are accepted. Do not plan on running to the bank real quick, as you may be required to make payment right away. Speaking of attending an auction as a viewer, you may want to do so. This will give you a firsthand look at how these auctions operate. It is also important to know that public storage auctions can be cancelled and sometimes at the last minute. If you are traveling far, like an hour or more, to attend an auction, call ahead. Call right before you leave. Those with unpaid storage bills are likely to make good on their payment once they realize their belongings really will be sold. This may result in the cancellation of a scheduled auction. Storage auctions are popular. Many people see them as a cheap way to get stuff for their homes and many more see them as a way to make money. That is why you will want to arrive early. You also need to be prepared to shout out your bids and face some competition. If you are shy or nervous about doing so, bring someone along who isn't. This is key to walking away a winner at a mini storage auction. Finally, know that not all storage auctions are worth your time. You will want to call ahead and ask questions, like how much is being auctioned off. If only one or two storage bays are up for auction, you can still attend, but you may not want to travel far too do so. Your travel expenses may be too high and not worth it in the end. As previously stated, public storage auctions are a great way to make money, but there is some risk involved. You will not always drive away with a truck filled with valuables that can be resold for a huge profit. However, the more storage auctions you attend and the more bids you place, the better your chances are for walking away with a profit. Mini Storage Auctions: Tips to Know What You Get Do you want to use mini storage auctions as a way to make money? If so, you need to walk away with items that can be resold for a profit. Unfortunately, this isn't always easy to do. There is good news though. With a small amount of investigative work on your part, you can increase your chances of buying items that you can resell for a profit. Most importantly, choose your auctions wisely. Many will outright state in newspaper classified ads if they are selling sealed bins. Sealed bins mean you do not get to see what is inside, usually you aren't even given a peek. However, some storage companies auction off whole storage bays. These bays are usually open when you arrive. Although you may not be able to step inside and look around, you can get a good idea of what you would be buying just by standing outside. First and foremost, look for name brands. You may assume this is difficult as most clothes are packed away. Remember that furniture and household appliances have name brands as well. Do you see a vacuum? Is it a brand you don't recognize or a Dyson? Dyson vacuum cleaners can fetch up to $500 or more when new! In addition to outright being able to profit from the resale of name brand products, you can also use them to estimate the other contents inside, especially those in boxes. Someone who purchases a Dyson vacuum cleaner tends to concentrate more on quality than costs. Quality products, especially those in good shape, usually generate the biggest profits when resold. When using self-storage unit auctions to make money, you are typically told to avoid personal items, but you can also use them to your advantage. Do you see a wedding dress or a tuxedo hanging in the unit? These two items are nice because they can be sold if in good condition, but it is also a sign. You may have found someone who likes to save their family treasures, some of which could be valuable. Many will also recommend avoiding storage units that are filled with boxes. Yes, they can be risky, but there are a few signs that you can and should look for. Are the boxes small or large in size? Smaller boxes are likely to hold family photographs and important financial documents, but they can also house jewelry and other small valuables. Look for boxes with moving company names and logos. If you can get a good view of the boxes inside the unit, examine their seals. Have the boxes been left taped? If so, it is a sign that the items inside were not needed. This may signify a situation where two households were combined into one. As for boxes that are opened and then resealed, use your best judgment. The opening and resealing may signify need. In these types of boxes, you are more likely to find financial documents than valuables. You will also want to rely heavily on your best judgment. In situations that involve a small amount of risk, like bidding at a public storage auction, your gut instincts can tell you a lot. If you suspect that you may walk away from an auction feeling disappointed, hold off on bidding. As the economy struggles, more consumers are falling behind on their bills. As unfortunate as this is, it means that you should have many more chances to walk away a winner at a mini storage auction. The above mentioned points are all points that you will want to take into consideration. Unless you are bidding on a sealed bin or a closed storage unit, you should be able to get a feel for the items that are inside. Remember, your goal is to resell those items for a profit. Always be on the lookout for valuables, items that are in need, and name brand products. Mini Storage Auction Reselling Tips Are you looking to make money with storage unit auctions? If you are, your goal is to make money with the reselling of bought goods. Although anyone can make a profit this way, you may want to familiarize yourself with some helpful tips and tricks. Start with expenses and chances of making a sale, as they are two very important points that you must take into consideration. As for limiting your expenses, remember your goal is to make a profit. You stand to make money when you spend less of it. To get started, save money at mini storage auctions. Know that not all units are going to have $100,000 worth of merchandise inside. In fact, very few will. That is why you will want to bid accordingly. Bring a flashlight and quickly look inside. Do you see anything valuable, any antiques or name brand products? These items are worth more, so you can bid higher. Next, it is important to limit your expenses during the reselling process. Selling on eBay is nice, but you are charged fees. These fees get larger and accumulate with the more items you list. Therefore, you may only want to sell certain items on eBay. Items that may only sell for a dollar or two may be the perfect fit for a yard sale. In fact, a yard sale is nice, as the biggest expense is your time. A newspaper classified ad is required, but they usually cost less than $5. Of course, there is Craigslist.org where you can list items for sale free of charge! As highlighted above, yard sales, eBay, and Craigslist are just a few of the many ways that you can resell items you bought at a storage unit auction. To determine what your chances of making a sale are, you need to look at popularity. If you live in a high trafficked location and advertise your yard sale, you can get hundreds of shoppers. Craigslist is increasing in popularity, so your listings may receive the same number of views. In keeping with gaining access to shoppers, eBay is often your best bet. This is because eBay is known as the best online marketplace. Millions of consumers use the website to buy and sell goods. Also, note that buyers pay to have their items shipped, unless a pickup has been arranged. Due to shipping and its popularity, you not only get to target local shoppers, but those all across the country. This is what, usually, makes the eBay fees worth it for certain items. Before you resell any of your winnings from a mini storage auction, closely examine everything. Check the pockets of all clothing to look for money or small pieces of jewelry. Next, examine antiques or anything that looks old. Check online to see if these items are valuable. Remember, you want to make a profit. You can't do this if you unknowingly sell a vase worth $300 for $5 at a yard sale. If you believe you have an antique on your hands, you may wish to have it appraised. Generally, you are urged against visiting antique dealers. Not all, but some will give you a low appraisal, but then turn around and offer to the buy item for you. This is a huge sign that you may be taken advantage of. If you live in or around a large city, your major auction houses may have certain days where they appraise goods, sometimes free of charge. Yes, they may want you to sell your item at one of their auctions, but if you do they want you to get the highest amount as it means a bigger fee for them. Whatever step you take, concerning mini storage auctions, remember your main goal is to make money. This involves making your purchases wisely and choosing the best method of reselling. If you are just getting started, this may involve trial and error, but know there are ways for you to make a profit. You can easily make $1,000 or more on the contents of each storage unit you purchase. Making Money with Storage Units and Yard Sales Do you want to make money with the buying and reselling of merchandise found at mini storage auctions? If so, you need to find a great way to resell your purchases. While you do have a number of different choices, you may find hosting a yard sale to be your best option. Before outlining how you can use a yard sale as a way to profit from merchandise bought at self-storage auctions, it is important to focus on those items. When bidding at a storage auction, you are urged to use your best judgment. Do not place a huge bid when you do not know what is inside. If you can catch a glance at the items up for bid, look for name brand products, household appliances, antiques, and furniture. Hosting a yard sale is recommended when you have many items to sell. One table of sellable items may not be worth your time. If you buy a storage unit that packed to capacity or if you purchase the contents of multiple bays, a yard sale will be worth the time and energy. Also, remember that you can add your own unwanted personal items to the sale. When looking to make a profit reselling merchandise, you are urged to limit your business expenses. After all, the less you spend, the more money you make. This is true, but yard sales rely heavily on advertising. If you do not live in a heavily populated or a well-trafficked area, no one will know that you are having a sale. That is why advertising is important. As for how you should advertise your yard sale, visit Craigslist.org. There, you can place a free advertisement online, just find the closest city to make your posting. Buy advertising space in your local newspaper. Most have a section just for yard sales. This will cost money, but it will be more than worth it. Always include your full address, the date and time of the yard sale, as well as a sample of what you have for sale. On the day of your sale, hang bright colored signs with your address or rely on arrows. When using yard sales to resell items bought at a mini storage auction, keep your asking price affordable. Yes, you want to make a profit, but remember that people visit yard sales to find the best deals. That is why you are urged to have a lot of items on hand. The good news is that if you buy the contents of a whole storage unit, as opposed to a few closed bins, you should get a lot of things to sell. Before preparing for your yard sale, one step you will want to take is using the internet. Do you have any items that look like they could be valuable or antique? You can use eBay.com to see. Perform a completed auction search of each item. If it sells online for more than what you would make at the yard sale, pull it from your sale pile. Do not expect to get full price for antiques at a yard sale. Instead, sell them online or contact an antique dealer. Before your sale, start labeling all items for sale. Blank yard sale stickers are available for sale at most dollar stores and office supply stores. Pricing your items is important, as not all shoppers stop and ask for price information. If some don't see prices listed, they will just move onto the next sale. The day before your sale, visit your local bank. Ask for change. If you get buyers who stop because they saw your sale when driving by, they may not have small bills. Be sure to have plenty of dollar bills and quarters on hand. Keep your money in a well-secured location. The day of your sale, start laying out items for sale. Group similar items together. For example, did you get a couple of boxes of movies, toys, and books? Make sure all books appear together, and so forth. Clothes can be folded on a table or hung from makeshift racks. Never lay items flat on the ground, especially if you have other options. Making Money with Storage Auctions and Craigslist Are you looking for a relatively easy way to make money with the buying and reselling of goods? Your first thought may be to attend neighborhood yard sales, but there is an even better option. That option is attending mini storage auctions. At these auctions, you tend to get more merchandise for your money. If you want to make money with the buying and reselling of merchandise, you need to find a profitable method of reselling. You do have a number of different options, including eBay, yard sales, and flea markets. One option that you may want to pay close attention to is that of Craigslist. If you are an avid internet user, you may have heard of Craigslist before. If not, it is a free online classified website. A wide range of information is posted, including job want ads and garage sales, but you can also list items available for sale. The website is divided into separate sections for cities. To make a profit with the buying and reselling of self-storage auction units, you need to limit your expenses. This starts at the auction. Do not bid high unless you are sure you are getting valuables. Next, limit your expenses when trying to resell the items. This is why Craigslist is recommended. As previously stated, it is a free online classified website. This means that you do not have to pay to list your items for sale, unlike the popular online bidding website eBay. If you perform a search on the Craigslist.org website, you will find that many people are selling merchandise without posting pictures. Do not do this. If you have a digital camera or even if you must borrow one, use it. Classified ads with pictures are likely to generate more interest, which increases your chances of making a sale. Before taking any pictures, be sure to clean the item in question. On Craigslist, you can post classified ads without having an account. You are encouraged to signup for one anyways. When you do so, those interested in buying your merchandise can contact you through the website. This is ideal if you don't want your personal information, such as your email address or phone number listed online. Since classified advertisements are free to post on Craigslist, you will want to create a listing for each item that you have. This is important as you will be able to create a unique headline. You don't want your headline to be something general like "a lot of items for sale." Instead, write "1999 push lawnmower -- works great." Although you are encouraged to create separate postings for each item that you want to sell, there are a few benefits to grouping similar items in lots. For example, did you end up buying a box full of DVDs? Instead of listing those DVDs for sale individually, sell them together in one lot. This works great if the movies share similar themes, such as all action and adventure. Grouping items together in lots can also reduce the amount of merchandise you throw away or donate to charity. Do you have a collection of kid's clothes with sizes between 3T and 5T? If you have a mixture of name brand and off brand clothing pieces, you may consider donating the unknown brands, but you don't have to. Sell them altogether. As long as you have a few name brands in the group, everything should sell. When listing merchandise you purchased at a mini storage auction on Craigslist, it is important to choose an easy method of contact. If you opt to be contacted through the website, be sure to check your email. Have an answering machine turned on if you provided your phone number and will not be home. Finally, decide on a method of delivery or pickup. State this in your listings. You can deliver products to your buyer, but keep the cost of gasoline in mind. Don't let unnecessary travel expenses prevent you from profiting from the buying and reselling of public storage auctions. Do you want to turn a profit with mini storage auctions? If so, are you just getting started? If yes, it is important that you take the time to research this great moneymaking opportunity. Why? As easy as it looks, there are some tips and tricks that you can learn. These tips and tricks will increase your profits, ensuing your walk away a winner. As for why research is important, as stated above, there is a lot that you can learn about mini storage auctions. This research can ensure you make money, not lose it. This is important, as mini storage auctions can make you money, but they are also very risky. Yes, you will likely learn a few helpful tips along the way, but why not just familiarize yourself with them first? As for what you need to research, start with the auctions themselves. Learn how they work. This research can be done online or you can visit a mini storage auction, but as a bystander. See how the bidding process works, what type of merchandise people tend to walk away with, and how many bidders participate. This can give you a good idea of what to expect. There is nothing worse than walking into a public storage auction unprepared. As for how you can research mini storage auctions, go directly to the source. Do you see a newspaper advertisement for an upcoming mini storage auction? Contact the company hosting it and start asking questions. Do they only accept cash? Are items sold in sealed bins or in opened storage units? Do you get to view the items first? How many items are available for bidding? These questions can not only leave you prepared, but they can also tell you what auctions you should attend and what ones you should skip. Returning to what you should research, you should also research what to buy. Unfortunately, many mini storage units are sealed. This means that you do not get to see what you are bidding on. In some cases, you are able to peek inside a storage unit for a few seconds. By researching these auctions, you can learn tips that can make it easy to spot profitable resells. For example, old or antique looking furniture may be a sign of family heirlooms that were passed down for generations. Since you rarely get to inspect the items that you are bidding on, you may walk away unable to make a profit. In fact, you may lose money. You may spend $100 on a storage unit, only to find nothing that can be resold for a profit. If this is your first experience with public storage auctions, your first thought may be avoid them altogether. This isn't how you make money though. You will learn, by doing the proper amount of research, that making money with mini storage auction involves consistency. Yes, you may lose money on one auction, but you may make $3,000 on the next. Since research can help you profit from the buying and reselling of mini storage auctions, you will want to do it. The good news is ease. You can research public storage auctions online, purchase printed guides on the subject, or attend an auction as a bystander. Regardless of which option you choose, the more informed you are on the subject, the more rewards you will reap. Mini Storage Auctions: Pros and Cons of Reselling Online Are you looking to make money with the buying and reselling of items acquired through a mini storage auction? If so, you may find reselling those items online to be the easiest approach, but is it the best choice? One downside to reselling mini storage auction goods online is that you are often charged a fee for doing so. Many popular third-party websites, like eBay.com, charge you multiple fees. If you do opt for selling online, keep track of your fees. At the end, deduct them from the money made to see if you are really making a profit. If not, it may be time to examine other methods of reselling. Although most online marketplaces will charge you a fee, not all websites do. For example, there is Craigslist.org. Technically, they are considered an online classified website. Meaning you post stuff for sale to local buyers. You always can add in your listing that you will ship out for a reasonable fee, depending on the destination. Another downside to selling online is that not all items you purchased at a mini store auction can be shipped. It does depend on what you resell. As a reminder, you can list your items for sale on Craigslist, but request that buyers pickup their buys. With eBay, your buyer may be local, but there is an even better chance they live across the country. So, make sure items that you plan to sell online and ship are able to be transported through the United States Postal Service or another mail carrier. In keeping with shipping, outline your plan right online. You can still list large items, like furniture, for sale on eBay.com, but you may want to choose pickup only. This option is best if you live in or around a large city. Since not all interested buyers will be local, large pieces of furniture should be sold locally. To ensure you do not lose money, do not offer to deliver unless you charge a fee or know the destination ahead of time. With the high cost of gasoline, this can significantly reduce your profits. You also need to be concerned with scams. If you use a well-known online marketplace, like eBay.com, you should be okay. However, if you find someone on Craigslist.org who wants you to ship his or her purchases, be cautious of a common check cashing scam. That scam involves sending you a check for more than the amount due and requesting you send back the difference. These checks are always bad. Despite the possibility of a scam, it is usually safe to sell online. Why? Because many consumers pay for their purchases with PayPal now, especially on eBay. PayPal provides you with protection. Never accept cash because it is too risky. What if a buyer claims you stole their money, when they never actually mailed you any money? The only time you should accept a cash payment is if you list your items for sale on Craigslist or another online classified ad and the buyer comes to your home to pay and make a pickup. Perhaps, the greatest benefit of reselling your mini storage auction treasures online is the audience that you reach. eBay is very popular online and your listings can receive thousands of views, which is more browsers than you tend to get when hosting a yard sale. So, even though not all merchandise can be sold online, you do still stand to make a profit. Mini Storage Auctions: What to Do With Junk Have you recently learned that you can make money with mini storage auctions? If so, you may be excited. Yes, storage unit auctions are a relatively easy way to make money, but there are some risks involved. You may walk away with a pile of "junk," instead of valuables. Speaking of junk, you may be curious what you could do with it. Before outlining a few of the many ways that you can deal with junk you acquire from a mini storage auction, it is important to look at the meaning. What do you think "junk," is? It is a word that has many different meanings and these meanings may have an impact on your actions. If your find boxes filled with personal information, such as financial documents, this is something that you may classify as junk. Why? Because you cannot resell it for a profit. Your first step should be to turn it over to the storage company. If they do not accept these documents or if you do not notice them until later on, properly discard of them. Stained clothes are another item that is commonly referred to as trash or junk. Yes, but can you use them? Do you or someone you know sew? Cut out the good parts of the clothes and save them. You can give them away or even sell them. If you end up with a box full of fabric scraps, someone who is crafty may pay for them. Donating to charity is another option. Most think of junk as things that are broken, but do you just have something that you cannot resell for a profit? Like a used rake. This can be sold at a yard sale, but are you having one? If you opt to resell online, you may not have use for this item. That doesn't mean that it should be thrown away. Instead, donate to a charity. Directly following a mini storage auction, you may start storing through your newly acquired merchandise. If you can create a trash pile right away, do so. See if you can dump it onsite. This typically isn't allowed, but ask. Some storage owners will let you dispose of small things in their dumpster for a fee. This may be cheaper than visiting your local junkyard. Speaking of junkyards, this is an option. Anything that is broken, cannot be fixed, cannot be resold for a profit, or cannot be donated to a charity, should be thrown away. When possible, visit the dumpsite for your local city or county. This can reduce your fees, as some charge non-residents more money for dumping. Finally, you always have the option of giving items away for free. Are you hosting a yard sale? If so have a section for your free stuff. Many people like to fix and resell broken furniture and appliances. Those who enjoy gardening or who have active kids may take free clothes, even with small stains. For large items, like a broken piece of furniture, leave by the road with a free sign if your town allows. If you try to give away items that you refer to as junk, it is best to do so at a yard sale. You can, however, try Craigslist.org. It is free for you to make a listing. Take a picture of your free stuff and let people set up appointments to see it. This will cost you time, but it will save you money in garbage disposal fees, which can be high for large items. When giving away free stuff, never offer to delivery it yourself. As highlighted above, you have a number of different options when looking to dispose of items that you cannot profit from. However, keep in mind that how you dispose of those items can dip into your profits as well. That is why it is usually recommended that you try to dispose of these items free of charge first. Make Money with Storage Auctions: Reselling Options Do you want a relatively easy way to make money? If so, you should consider attending and participating in mini storage auctions. These auctions occur when unit renters do not pay their bills. As for what you will find inside, it will vary, but there is always the potential to make money. As for how that money is made, reselling. Since you profit from mini storage auctions by reselling the merchandise you bid on at an auction, it is important to know what your options are. As for what option is best for you, it will depend on the items you have available for sale and your own personal preferences. To help you decide, please continue reading on, as a few of your storage unit auction reselling options are discussed below. Yard Sales Yard sales are an easy way to resell merchandise you purchased at a self-storage auction. This is mostly due in part to convenience, as you are able to lay all of your items out for display at once. Although you can profit from hosting a yard sale, know that many shoppers expect to find low prices. It isn't recommended that you sell valuable jewelry or antiques at a yard sale, but they are a great way to resell furniture, books, movies, clothes, home decor, and toys. If you do decide to host a yard sale, be sure to advertise. Place signs around your neighborhood. List your yard sale online and take out a newspaper classified ad. Be sure to include the date, time and location of your sale. Also, post a small summary of what you are selling to generate interest. Yard sales are a great way to profit from the reselling of mini storage auction contents, but they aren't right for everyone. Do you live in a high trafficked area? Do your local laws prevent you from hanging yard sale signs? Do you not have enough space for a yard sale? Flea Markets Flea markets are a nice alterative to yard sales. If you don't have the space to host your own sale, rent a table at the flea market. Although the dealer fees may be a turn off, you are automatically paired with shoppers without having to pay for advertising. To find the best luck with flea markets, choose those that receive the most shoppers. Visit flea markets in your area to gauge the traffic coming in and out. Flea markets where shoppers must pay a fee to enter are nice, as many do not want to leave without buying anything. Although flea markets are a good way to resell items you bought at a mini storage auction, some do have rules and restrictions on what can be sold. eBay eBay is another reselling option that you have. What is nice about eBay is that it is a popular online marketplace; shoppers flock to the website on a daily basis. This means that thousands of shoppers can see your auctions. Since eBay is an online marketplace, it allows shoppers from across the country to view and buy your merchandise. On that same note, these items must be shipped. Unless you take a gamble and make certain items available for pickup only, not everything from a mini storage auction can be resold on eBay. Large household appliances and furniture may be too difficult or costly to ship. It is also important to note the fees eBay charges. They can cut into your profits. If you do decide to sell on eBay, track your sales and subtract your fees. Make sure you are making money before you continue to use eBay. Craigslist.org Craigslist, in addition to flea markets, is another great alternative to hosting a yard sale. What you do is create free classified ads outlining the items that you have for sale. When you place those listings under the heading for your closest city, local buyers will contact you when interested. It is best if you create individual listings for your large items and always include pictures. Make Money with Storage Auctions and Flea Markets Do you want to profit from the buying and reselling of merchandise sold at mini storage auctions? If so, you need to choose a method of resale. If you have customer service experience and many quality items to sell, you may want to sell at a flea market. If you want to make money with selling mini storage auction merchandise at a flea market, proceed with caution. Remember, your goal is to make money, not lose it. You must rent a table or space at a flea market. Some organizers charge very high fees. Depending on what you have for sale, flea markets may not be worth your time or your money. Speaking of what you have for sale, know how to buy valuables and resellable items at mini storage auctions. If you can inspect bins or storage units beforehand, do so. If not, look for signs or use your best judgment. A storage unit filled with moving boxes and furniture may be the sign of two households that consolidated into one. Household goods can be resold for a profit. Also, look for name brand products and antiques. Returning back to selling at a flea market, see what is available. If you live in a large city or town, you may have multiple flea markets to choose from. Before making your choice, visit them. Which flea markets receive the most traffic or are open the longest? Then, examine dealer fees. You do want to keep your costs down, but keep quality in mind. A flea market that receives more traffic is worth a higher dealer fee. In keeping with location, if your local flea markets are not popular, you may want to examine those in the nearest large city. You may have to pay higher dealer fees, but the increased traffic may be worth it. Do you have a large van or truck that you can use to transport your goods? If so, consider this as an option. If you cannot find a decent flea market, remember that you can sell your mini storage auction merchandise online or host your own yard sale at home. As for dealer fees, see what options you have. Can you purchase a selling spot for only one weekend, a month, or the whole year? If you intend to use mini storage auctions to your full advantage, like by traveling to attend them and buying as much as possible, a long term rental is recommended. The longer you rent a space at a flea market, the bigger discount you should receive. It is also important to get as much information as possible. If the flea market organizers have a website, visit it. If not, call or ask questions in person. It is not uncommon for some organizers to limit what can be sold. Upscale flea markets do not want to appear as if they are one big yard sale. In these instances, it may be common to find secondhand clothing prohibited. Before paying a dealer fee or signing a contract, make sure you can sell what you have. When pricing your items, it is recommended that you first do research online. Make sure you don't have any valuables. Yes, you can still sell valuables and antiques at a flea market, but know their worth. As for the rest of your merchandise, keep your eye on making a profit. Remember what you paid for the merchandise, as well as your dealer fee. Make sure you walk away with a profit, even if you must slightly raise the price. As for why flea markets are considered a better method of reselling, it has to do with sales. Those shopping at flea markets expect to find a good deal, but not deep discounted items like the ones sold at yard sales. This allows you to reasonably set your prices higher. Shoppers also visit flea markets with the intent to buy, as a shopper may have to pay an admission fee. This, alone, increases your chance of making multiple sales. Make Money with Storage Auctions and eBay Are you looking to make money with mini storage auctions? If so, you need to find a way to resell what you buy. After all, that is how you make money. While you do have a number of different reselling options, eBay is often regarded as one of the best. If you want to resell your winnings from a mini storage auction on eBay, it is best if you are already an established eBay member. This is due in part to scams. Some people will post items for sale that they don't actually own. This does make consumers leery of doing business with someone who is new to selling online. On that same note, if you aren't an eBay member, you can still make money on the website. You can make a few purchases first. These purchases will appear on your account and show that you did pay for them on time. This is a sign of someone who can be trusted. You can also start out listing small, low-priced items for sale to help you build up your feedback. Items that are small in size and in price means less risk for buyers. Once you have established feedback, start selling the valuables. When reselling merchandise you purchased from a storage unit auction, it is important to keep fees in mind. You are charged multiple fees for selling on eBay. These fees will cut into your profits, but there are some ticks that you can use. Study the eBay fee scale, which is available on their website. Did you know that if you sold a piece of jewelry for $25 it would cost you about .50 cents more in insertion fees than if you sold that same piece for $24.99? It would. When selling on eBay, pictures are important. Consumers do not like buying products that they cannot see. For that reason, be sure to take lots of pictures. eBay will charge you a fee if you post more than one picture. The trick is to use free photo sharing websites. You can upload your extra photographs to those websites. Then, obtain a code that lets you embed the photographs into you eBay descriptions, free of charge! One of the reasons why eBay.com is a great place to sell merchandise you purchased at a mini storage auction is because it is one of the most popular online marketplaces. Millions of consumers visit eBay looking for quality, yet affordable merchandise to buy. This can work to your advantage. It means that your for sale items are likely to get more views, especially when compared to setting up a table at a flea market or hosting a yard sale. The popularity of eBay can also work to your disadvantage. Many individuals see it as a way to make a quick buck. If you perform a search on eBay for common home decor items, such as picture frames, you will see thousands of items available for sale. You need to compete with these others sellers. Before listing an item available for sale, such as a wedding themed picture frame, look for similar auctions. List when there isn't as much competition. You will also want to take seasons into consideration. If you do not have a lot of storage space in your home, you may want to resell your purchases as quickly as possibly, but you can lose money by taking this approach. If you have a box full of winter clothes, don't sell them in spring or summer, wait until fall. Selling items, especially clothes, in season, can increase the selling price and your profits. If you keep the above mentioned tips in mind, you should be able to profit from the resale of items you purchased at a mini storage auction. Since most items on eBay must ship, you may want to look for alternative methods of reselling for large household appliances and furniture. How to Prevent Your Storage Items From Being Auctioned Are you the renter of a self-storage unit? If so, you may have heard of storage unit auctions. At first glance, they may cause you some concern. Can you fall victim to these auctions? Can your possessions really be sold at one? Yes, they can, but there are steps that you can take to prevent this from happening. Pay Your Bill The reason for public storage auctions is unpaid bills. Your storage unit bill should be treated like any other important bill. Treat it just like your mortgage or car payment. If you miss enough payments, your home can be foreclosed on or your car can be repossessed. The same thing can happen with self-storage units. In some ways, your belongings are held as collateral. Never let your bill fall behind more than two months at a time. Your best bet is to keep it updated and paid on time. If you foresee financial difficulties ahead, remove your belongings while your account is still in good standing. Store them at your home or at the home of a close friend or family member. Talk to the Owner This approach is one that you should not rely heavily on, but it will not hurt to try. If you are experiencing temporary financial difficulties, explain that. Let the company know you can make full payment the following month or in a few weeks. Offer to make small weekly payments, especially if it can prolong an auction. Do not, however, make this agreement if it is one that you cannot keep. Remove Your Belongings Did you receive a warning that your storage unit contents may be auctioned? If so, can you get to them? You may be able to. If so, remove everything from your storage unit immediately, especially all family photographs and personal documents. If these items sell, they will be thrown away almost right away. When removing your belongings, you will still have an unpaid bill to pay. With that said, if your stuff is not inside the storage unit, it cannot be auctioned off. If you opt for this approach, you will want to take action right away. After three months or more, the self-storage company may change the locks. This means that you may not gain access to the unit. Many will refuse to give you back your belongings until you agree to pay your overdue bill or at least a portion of it. Check Your Contract After a certain period of time, an unpaid storage unit bill can translate into abandonment of property. This means that regardless of whether or not an auction is listed as a consequence for an unpaid bill in your contract, one can still take place. It is still important to consult with your contract. If you do not see anything about a storage auction, you can cause a stir. This may buy you more time Check Your Mail and Answer Your Phone Before a public storage auction is held, the owners will likely try to contact you and multiple times. Do not assume that you are simply just getting another late notice. There might be a warning that your belongings are slated to be sold. Those running self-storage units do not want to sell or auction off your personal belongings, which is why they will make multiple attempts at contact. You need to remember that they are running a business. Your unpaid bills are causing them to lose money. As a recap, the best way to avoid having your belongings auctioned at a public storage auction is to pay your bill and on time. Once you have gotten your bill in good standing, you may want to attend a public auction. When you are the bidder, as opposed to the person having their items sold, you may see how neat these auctions really are. In fact, did you know that you could make money with them?
Avoid These Mini Storage Unit Auction Mistakes Do you want to use mini storage auctions as a way to make money? If so, money is made with the reselling of merchandise won at an auction. How you resell your merchandise can have an impact on your profits, but your biggest potential for making money starts at mini storage auctions. To increase your chances of making money, avoid these common mistakes. Traveling too far. It is said that the more storage unit auctions you attend, the better your chances are for making a profit. Yes, this is true, but you shouldn't have to travel two or more hours to attend these auctions, unless you know they will be large in size. With the high cost of gasoline, you may find the best luck staying local. The good news is that if you live in a large city, you may hear of a different mini storage auction taking place every weekend! Arriving late. If you seriously want to make money with mini storage auctions, arrive early. At the very least, arrive ten minutes before the auction is scheduled to start. Although you may not be able to inspect the items up for bid, you can still improve your chances of getting a sale. You can scout out the competition. Not asking questions. Not asking questions is something that can hurt you. As previously stated, only travel two hours or more to attend auctions that are large in size. Unfortunately, you may not know without first asking. Also, call ahead to verify that the auction has not been cancelled. Ask what the accepted methods of payment are and how the bidding process works. Are you bidding on sealed storage bins or whole storage bays? Bidding too high on blind bids. As previously stated, you may either bid on a sealed bin or a whole storage bay. Many times, the units are opened, giving you a quick look inside. When it comes to closed storage units or sealed bins, bid, but keep the risk in mind. While most storage units are packed full, some may only hold one box in the corner. This is particularly true if the renters had the chance to remove items before the auction. Not bringing a flashlight. If the storage units you are bidding on will be opened, you may be granted a quick peek inside. This peek may only last 10 seconds. So, bring a flashlight so that you can see. Not knowing what to look for. If you want to make money with mini storage auctions, it is important to know what you can profit from reselling. You are always taking a gamble, but you can make that gamble less risky. Furniture and household appliances are good items to resell and they are easy to spot. Look for name brand products. Look for boxes that are labeled with their destinations, like kitchen, bedroom, or living room. Thinking you will get rich right away. Since mini storage auctions do rely on a lot of luck, there is a possibility that you will make a profit with your first auction, but that doesn't always happen. Remember, the more items you buy, the better your chances of making a profit are. If you lose money the first time around, know you can make a huge profit the next time. What You May Find at Mini Storage Auctions Do you want to start making money with mini storage auctions? If so, you may be curious as to how the whole process works. When looking to profit from mini storage auctions, you place a bid. As for what you are bidding on, it depends. You may bid on a sealed storage bin or a whole storage unit. Different companies host different types of auctions. To profit, you take the items you bought and resell them. Since you are, essentially making a wholesale purchase and paying one fee for many items, there is the potential to make money. One common question asked is "how much money can I make?" It does depend on how much you spend at a mini storage auction. The less money you spend, the more you can make. It also depends on your resale methods, as some are more successful than others. Many use Craigslist.org, flea markets, and yard sales to sell locally. As for selling online, many use eBay.com. What you buy can also impact your profits, as some items are more valuable than others are. Since what you buy at a mini storage auction may have an impact on your profits, you may be wondering what is available for sale. It depends. People use mini storage units for a wide range of purposes. Some use them when consolidating two homes into one. Others use them to store household items when they relocate to a smaller place. Storage units are also used to house items that people no longer need, but still want to hold onto, such as family heirlooms or financial documents. Despite the possibility of a variance, depending on the storage unit in question, there are some items you are likely to find at a mini storage auction. Furniture. Furniture is nice because it is easy to spot. Unfortunately, you don't always get to see or inspect merchandise up for bid, but furniture can be seen from far away. Look for furniture that is antique in nature, as it worth more. With that said, furniture is something that people need; therefore, it can be resold for a profit. Home decor. Home decor often makes it way to mini storage units. Some homeowners change their decor on a yearly basis, but may not want to part with their old pictures and paintings. Home decor can be antique or cheap, but it will always resell. Home appliances. Home appliances, such as microwaves, dishwashers, blenders, and toasters can be found at mini storage auctions. As with the above mentioned items, these are considered great. Everyone needs these items in their homes. This means that they will resell, especially at a yard sale. Children's items. It is common to find kid's clothes, books, and toys in a storage unit and at an auction. This is because these are items that kids outgrow. As for why they are saved, some parents just don't want to part with these items. Many hold onto them just in case they decide to have another child. Yard sale and eBay are popular resell markets for kid's toys, movies, books, and clothes. The above mentioned items are just a few of the many that you may find at a mini storage auction. In fact, you can find just about anything ranging from antiques to jewelry to clothes to family photographs. The key is buying merchandise that you can resell for a profit. Tips for Reselling Mini Store Auction Winnings Do you want to make money with the buying and reselling of items purchased at a mini storage auction? If so, you need to know what you are doing. Many people rely on trial and error. Yes, you can do this or you can continue reading on for a few helpful tips. The first step in profiting from mini storage auctions starts at the auctions themselves. When possible, bid low. This increases your chances of making a profit. The less you spend, the larger your profits will be. Next, be on the lookout for items you can profit from. The tricky part is that some items are stored in boxes, making it impossible to see what you are bidding on. That is why you are encouraged to keep your bids as low as possible. The key to making a profit with the buying and reselling of merchandise is to buy it in the wrong market and sell it in the right. Mini storage auctions are considered the wrong market, but this is in your favor. Why? Because you tend to walk away with a better deal. You are essentially paying a wholesale price for multiple items. As for the right market, this is where you stand to make the most money. By choosing the best method of resale, you can make the biggest profit. So, which method of resale is the most profitable? It depends on what you have to sell. Due to their size, furniture and large household appliances are best when sold locally. When selling locally, you can rent a table at a flea market, host a yard sale, or post a for sale listing on Craigslist.org. Yard sales are nice, as you can sell all of your items at once, but many people expect to find deeply discounted merchandise. Items that are smaller can be sold online. One of the best markets for doing so is eBay.com. When you sell on eBay, someone from across the country can buy from you. Smaller items are recommended for reselling online, as they are easier and cheaper to ship. It is also recommended that you sell valuables online, as you stand a better chance of their full value. Speaking of valuables, there are some items that you may wish to have appraised. Be on the lookout for dealers who appraise your items low and then offer to buy them. This is a common scam that you do not want to fall victim to. If this happens to you, you may have a very profitable item on your hands. Why? Because true dealers do not purchase junk. When reselling merchandise you bought at a mini storage auction, it is usually recommend that you clean that item. For example, if you get a box full of clothes, you may want to wash them first. You may want to wipe DVD packages clean before selling them. You will want to be careful with antiques though. Their age and the history behind them are what makes them valuable. Not only do you wash away history when cleaning them, but you may also damage the product. With antiques, it is best to let the buyer decide what they want to do. In short, there are many ways for you to make money with mini storage auctions. To improve your chances of making a profit, buy as much as you can. Storage Unit Auctions: How to Walk Away Making Money Have you heard that you can make money with mini storage auctions? You can. Unfortunately, doing so can be tricky. Before outlining ways that you can walk away from a storage unit auction making a profit, it is important to highlight the risk. Unlike estate auctions, do you not get to see or inspect the items beforehand. In many cases, you are bidding blindly. If you want to profit from storage unit auctions, you need items that you can resell. You may, however, walk away with a bin filled with someone else's family photographs. Despite being somewhat risky, there is still a good chance that you can make money buying merchandise at storage unit auctions. The first step is choosing the right auction. Most companies will outline online or in a newspaper classified ad how the auction will work. Do you bid on whole storage units or just sealed bins? Whole storage unit auctions are popular and they tend to have higher bids. Of course, you can and should visit all mini storage auctions, but if you are limited on funds, you may find the best luck with individual bins. If you are bidding on whole storage units, take a close look. This involves arriving about ten or twenty minutes before the auction is slated to start. Although you cannot get right inside, you can gauge the merchandise. Unfortunately, many small and valuable items, like jewelry, are sealed in boxes or bins. With that said, there are still a number of signs that the contents inside may be profitable. Is the storage unit packed to capacity? You may be surprised how many items some people can stuff into small storage units. While these types of units can be difficult to get a look inside, they are popular. Those packed to capacity will generally end with a high bid, but your chances of making money increase. The more items inside, the better the chance are that some are sellable for a profit. Next, look for boxes. If you can see them from the outside, closely examine them. Do any boxes appear as if they have been opened and resealed multiple times? If so, this is a sign of something that is needed, like insurance documents or family photographs. These items are not profitable to you; they are essentially worthless. In fact, you may be required to turn them into the auction officials. In keeping with storage boxes, are they labeled? If so, can you read what they say? Be on the lookout for moving boxes. They usually have the name or logo of a moving company. They may hold household items, which can be easy to resell for a profit. It is common to find furniture inside a self-storage unit. After all, most people can store a few boxes at their home or in their basement. Those who rent storage units need a place to store items large in size. These items, unless packed to capacity, should be visible. The furniture alone can give you a generalized bid amount, but use your best judgment. Yes, it is advised that you never judge a book by its cover, but this is what you should do when looking to profit from mini storage auctions. What does the visible furniture look like? Is it antique, modern, or cheap looking? Antique looking furniture may be a sign of a family heirlooms passed down, some of which can be valuable. Cheap looking furniture may be the sign of a frugal shopping. Yes, frugal shoppers do own valuables, but your chances of making a profit decrease when quality does. The above mentioned tips can help to get you started with buying items from a storage unit auction. Remember your main goal is to make money, but you don't always have control over doing so. In all honesty, making money through these auctions is all about consistency and trail and error. Pros and Cons of Using Mini Storage Auctions for Profit Are you interested in making money with mini storage auctions? If so, you are not alone. Many individuals are finding the buying and reselling of goods bought at these auctions to be a relatively easy way to make money. But, is it the right opportunity for you? Mini storage auctions are increasing in frequency. This has a lot do with the economy today. Many are forced to leave their big homes and relocate to a smaller home or an apartment. This often results in the renting of a storage unit. Unfortunately, the economy is also making it harder for renters to stay up-to-date on their bills. As sad as this is, it does mean more self-storage auctions for you to profit from. Depending on where you reside, you may be able to attend a different public storage auction every weekend! It is, however, important to state that there is some risk involved with mini storage auctions. Why? Because you don't always get to see what you are bidding on. Many times, you just get to peek inside the unit from outside the door. That is why it is recommended that you bring a flashlight. Yes, you may walk away with valuable jewelry or antique furniture that you can resell for a profit, but you may also walk away with family mementos. Despite the possibility of a risk, there is a good chance that you can make a profit. Many make around $1,000 for each storage unit that they purchase. Remember that your goal is to make a profit, so even if you make only $200, you still made money. On that same note, some lucky bidders have seen profits as high as $50,000 or more. So, how do you become one of those lucky bidders? Through trial and error. As previously stated, mini storage auctions can be risky, as you don't always get to see or inspect what you are bidding on. You can, however, use your best judgment and look for telltale signs. Bring a flashlight with you and look inside real quick. You may only have a few seconds to do so, but look for items that are large in size, like furniture or household appliances. These items can almost always be resold. Look for boxes with moving company names or logos. Another pro or plus side to using self-storage auctions to make a profit is the reselling options that you have. You can list your items for sale on an online classified website, like Craigslist.org, sell on an online bidding site, like eBay.com, rent a table a flea market, or host your own hard sale. As for what option is the best, it depends on what you have to sell. Large items, such as furniture and home appliances, can be costly and difficult to ship, so you may see the best luck selling them locally. If you have never attended a mini storage auction before, you may want to see what one is like. Even if you don't plan on bidding, be sure to have cash on hand. While watching the action, you may spot an antique out of the corner of your eye that no one else seems to notice. Attending a self-storage auction just as a bystander can give the needed confidence to start bidding at the next auction. How to Make the Most Money with Mini Storage Auctions Are you looking to profit from the buying and reselling of merchandise sold at mini storage auctions? If so, you may be wondering how you can make the most money. 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 decor, 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. How to Make Money with Storage Unit Auctions Are you looking for an easy way to make money? If so, you will want to examine storage unit auctions. Making money with mini storage auctions does require a small amount of start-up cash, but you stand a good chance of recouping that money back and then some. 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? How Much Can You Make with Mini Storage Auctions Have you recently learned that you can make money with mini storage auctions? If so, you may be wondering how the process works and, better yet, how much you can make. To make money with self-storage auctions, you must buy merchandise for sale at an auction and then resell it for a profit. There is some risk involved. Rarely do you get to see up close or inspect what you are bidding on. With that said, there is always the possibility of making a profit. As for how much money you can make with mini storage auctions, it depends on a number of different factors. Start with how much you spend. When reselling for a profit, you need to limit your business expenses. This starts at the self-storage auction. If you see a storage unit filled with antique furniture, it is a good buy. You may have to bid high to walk away the winner, but never bid more than you need to. The less money you spend, the more you will make after your expenses have been deducted. It also depends on the merchandise you walk away with. Why there is the potential to make money is because a wide range of items can be found in self-storage units. As previously stated, it is common to find furniture stored in them. When two households are consolidated into one, a storage unit is often rented. You may get lucky and find an auction where the whole contents of a home are up for bid. Toys, books, movies, and clothes can also be found. In keeping with the merchandise you walk away with, you want to get items that you can profit from. To make the most money, look for valuables. These include antiques and jewelry. Unfortunately, jewelry is usually packed away in boxes. That is why you may want to look for written labels on boxes. Furniture, which is easy to spot, is usually resellable. Furniture and other similar items, like household appliances, clothes, and toys will always resell as they are in need, but they may not garner the highest profit. Speaking of which, you can still "strike it rich," with items that are small in size or low in value. The trick is to purchase more items. Say, you win a storage unit at a mini storage auction that contains five boxes of clothing, with 200 pieces total, and pay $25 for it. At yard sales, clothing tends to sell at around $1 a piece. Provided you get this much, you make $200 while only spending $25 in expenses. So, even if you don't walk away from a mini storage auction with valuable jewelry or antiques, you can still make money. Speaking of valuable jewelry and antiques, you need to know what you have. Never resell anything that looks valuable, older, or antique without first researching is value online. An easy way to do so is to perform a completed listing search on eBay.com. Say you find a box that contains a rare limited edition vase. That vase may be valued at $500 or more. But, if you don't know its value, you may sell it for only $5 at a yard sale. Unless you buy a storage unit at an auction that contains nothing more than family photographs and personal documents, which can happen but is rare, you should walk away making a profit. Dos and Don'ts for Mini Storage Auctions If you want to start making money with the buying and reselling of self-storage auctions, it is important to know what you are doing. Yes, you can make a profit with mini storage auctions, but there is always a risk involved. To help make sure you see a profit, please continue reading on for a few helpful tips. 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. 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. Preparing For a Storage Unit Auction Do you want to make money buying and reselling items bought from a storage unit auction? If so, you are not alone. Many are finding self-storage actions to be an easy way to make a profit. If you have never attended a storage unit auction before, you may be curious what you need to do in preparation. Please continue reading on for a few helpful tips. The day before or the morning of the auction, contact the company. You will want make sure that auction is still set as scheduled. If you have to travel far, this will save you a wasted trip. Some people will make good on their overdue bill to save their stuff, even at the last minute. This may result in an auction cancellation. Most importantly, get cash and have plenty of it. Once you attend your first mini storage auction, you will see how much great stuff is available for bidding. Yes, you don't always get to see or inspect those items up-close and personal, but you may get caught up in the moment of bidding. You may want to place multiple bids. Rarely are credit cards or checks accepted It is also important to plan on winning. Yes, you may not, but always have a plan set in place. You only get a set number of hours, which may be less than 24, to remove your winnings. If you don't already own a truck or van, can you gain access to one? Additional moving supplies are recommended as well, including work gloves, plastic tarps, and cushions. As previously stated, you will want to plan on placing a winning bid. This means creating a plan of action, in terms of what to do with your recently purchased merchandise. Although this plan can wait until after you win, it is best to have a generalized idea. Why? Because the sooner you can resell the items, the sooner you can make a profit. It also reduces the clutter around your home, as you won't need a place to store it if it is already gone. If you win the contents of a whole store unit at an auction, start sorting right away. You will end up with "junk," that you just want to throw away. Stop by the junkyard on your way home. In some rare cases, the storage company may have a dumpster onsite. If you use it, be prepared to pay a small fee, but it is a convenient way to quickly get rid of garbage. In addition to items that are considered junk, in terms of quality, you may come across personal items. They are useless to you. Turn them over to storage company. If they do not accept them, you should properly dispose of them in a quick, yet safe matter. Contacting the original renters is possible, but you may run into problems. If you offer to give back their family photographs, they may try to get everything else back too. Once you get all of the items home, resort them again. This is best done as soon as you unload. Create three different piles. What do you want to keep? What do you want to resell? What can you donate to charity? You will also want to determine ahead of time how you plan to resell these goods. This is important, as it can have an impact on your storage or where you unload them to. If you plan to sell on eBay, take the items into your home so that you can clean them and take pictures. If you intend to sell at a yard sale, leave them in a convenient location, such as your garage. As previously stated, you can make money reselling merchandise you bought at a mini storage auction, but it can be risky. There is always a chance that you will walk away disappointed. If and when that times comes, try again. Remember, the more merchandise you buy at mini storage auctions, the more your chances of profiting increase. Mini Storage Owners: Why and How to Hold an Auction Are you a mini storage or a self-storage owner? If so, do you have a number of nonpaying clients? If so, you may be wondering what your options are. After all, the longer a storage bay is unpaid for, but still in use, the more money you lose. Although you are urged to first check your state's laws, you should be able to host a mini storage auction. Most states do allow these auctions, but you may face some rules and restrictions. You may have to wait a set period of time before hosting an unpaid storage auction. Or, you may have to make multiple attempts to contact the default renters. It is also recommended that you closely examine your rental contracts. Do you state what happens if payment is not made? If not, you can still hold an auction, but only after making multiple attempts to contact the renter. After a certain period of time, it is considered that they abandoned their property. In keeping with contracts, if you do not have public storage auctions listed as a consequence for unpaid bills, redo your contracts. Add this important fact. Sometimes it will be enough to get your customers to pay their bills on time. Plus, there are always those who are upset and try to protest these auctions, especially if they weren't written in their contract. If your state does not have specific laws on the abandonment of property, 90 days is a good date to decide on. This is about three months that your renters had to pay their bill, but opted not to. Starting at the second month, make multiple attempts to contact the current renters. Start sending out warning letters and try to place multiple phone calls. Leave messages when possible. When doing so, be friendly. Spin it as if you are trying to help your clients save their belongings. If you do opt to host a mini storage auction, decide how you want to sell. Should you auction off individual sealed bins or whole storage units? Since many units may have large furniture inside, it may be best to host an auction where bidders buy all the contents inside a bay. They are more popular and may draw a larger crowd, as bidders see this approach as getting a better deal. Next, decide how you want the auction run. Will you handle the bidding yourself or hire a third-party auction house? Will you take live or sealed bids? It is recommended that you only accept cash, as it is quick, easy, and convenient. It is also important to set a deadline for buyers. Give them a specific amount of time to remove their newly purchased merchandise from your property. Remember the quicker your unpaid storage units are emptied, the sooner you can start renting them to paying customers. On average, most storage companies give their bidders 24 hours. Although optional, you may want to rent a dumpster. This is a good idea if you have multiple storage bays to auction off. There will always be junk that people do not want to take home or try to resell. Advertising that you have a dumpster onsite will generate interest. Many will see it as a quick and easy way to get rid of junk. Just make sure that you charge a small fee for use to help recoup the costs. Make it known before the start of the auction that all personal documents need to be turned into you or discarded immediately. This is important, as some people store their personal and financial documents in mini storage units. Do not take the risk of being held liable if someone becomes the victim of identity theft. Finally, market your auctions to the general public. Put signage in front of your business, use the internet, post fliers on community message boards, or take out a newspaper classified ad. Once your public storage auction is announced to the general public, you just have to sit back and wait. When the auction arrives and if everything goes as plans, you should not only recoup your losses, but make a profit too. Mini Storage Owners: Pros and Cons of Auctions Are you a mini storage owner who is losing money due to customers who simply just won't pay their bill. If so, did you know that you can host a public storage auction? Your state may have some restrictions on doing so, but a public auction should be an option. One of the many pros or plus sides to hosting a self-storage auction is that you are able to recoup your losses. These auctions take place when bills are left unpaid, often for months on end. Since you are losing money, it can hurt your business. But, when you auction off the contents inside each unpaid storage unit, you can recoup your losses. In addition to recouping your losses, there is always the possibility that you will make money. If a bidder pays $300 for the items inside a storage unit, but the unpaid bill is only $100, you stand to make a $200 profit. Of course, remember your expenses. You need to let the public know about your auction. This may involve buying signage or taking out a newspaper classified ad. Mini storage auctions are easy to setup. In fact, it may be much easier than you originally thought. Why? Because you have the freedom to decide how it works. Do you want to handle taking the bids yourself or do you want to hire a third-party auction house? If you are auctioning off the contents inside whole storage bays, as opposed to a few bins, all you need to do is open the unit and start taking bids. Another pro or plus side to hosting a public storage auction is that they are increasing in popularity. You are not the only person who can profit from these auctions. Many buyers resell what they bought on eBay, on Craigslist, at yard sales, and at flea markets. Although there are some risks involved, as buyers don't always know what they are bidding on, storage auctions are an easy way to make money. For that reason, alone, you should see many bidders at your auction. Although there are a number of pros to hosting a mini storage auction, there are a number of cons to doing so as well. Not all auctions are successful. Yes, they are increasing in popularity, but it depends on what you have to offer. People are less likely to attend if you only have one or two boxes to auction off. If you are a small storage owner or if most of your customers pay their bills, it may be best to wait. The biggest and possibly most disturbing downside to hosting a public storage auction is disgruntled customers. You may have multiple insults hurled at you. Yes, your former customers were in the wrong. After all, they decided to let their bills go unpaid. Despite this important fact, it will still be "your fault." To reduce the chances of an angry customer, give them multiple chances to reclaim their belongings by paying their bill. As you can see, there are a number of pros and cons to hosting a mini storage auction. If you are unsure if an auction is right for you, attend one. See how high bids go and what the turnout is like. This will help you determine if you can recoup your losses and make a profit or if an auction would just be a waste of time.
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