Storage auction business plan

Another big score for us! Be sure you look through everything — every drawer, every box. Consider bringing along a few extra pair of hands, especially if you have a short window of time to remove items from the storage bin. The auctioneer will usually announce it if they do.

Our experience had paid off.

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Remember it takes a lot of junk to get your own good stories. You may buy 50 bad units before you hit the one that pays for them all! As we went through the drawers, we also discovered all of the scrap gold and even a little platinum. Almost like a treasure hunt at times. On the other hand, it really is fun. And, plan for trips to the dump after you win a bid to get rid of the excess junk that has no value. As we dug further into it, we found thousands of CDs, DVDs, movie memorabilia, action figures, and posters from an avid collector.

Old English polish works on just about every kind of wood furniture. My partner picked it up and found a handful of 14K gold jewelry in the bottom among the junk. Gather items you will need to take with you.

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While not every storage bin auction will follow the same procedures, this is a good way to become familiar with the process. First of all, you have to be willing to become a jack-of-all-trades.

Are you entering the storage auction business to make a full time change in your employment? They were all in mint condition. Contact the auction house or storage facility the day before the auction to confirm the auction is still on.

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Not only will it improve your business skills but you'll enjoy reliving your successes. The most common types of bid rigging include the following. If the auctioneer raises the door to the bin just before the auction starts, you will have a few minutes to assess and value the items you see in front. One time after a long, hot day, we headed back to the warehouse to start sorting our load. Bid suppression is when some bidders covertly agree not to bid so that one of them can successfully win the unit. Prepare for auction day. It paid for the entire unit and then some. Things Needed. Once you have set your limit, it is recommended that you only use cash. The second thing that helps your profits is if you repair and clean any items before trying to sell them.
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Insiders Guide to Self Storage Auctions Part 3