Storage Unit Auctions How To Walk Away Making Money

Storage Unit Auctions How To Walk Away Making Money

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.

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