Can you make money with online storage auctions

Okay, I confess, I have been watching too much TV lately. It seems like there are TONS of new shows that are about storage unit auctions, buying and wth old stuff, or just about cool old stuff in general. The 2 that focus exclusively on buying and selling valuables from storage unit auctions is Auction Hunters and Storage Wars. I have a second confession to make as. I have been interested in storage unit auctions for about 8 or 9 years. Back when I first got married was when I really started to get into selling books and used clothing on eBay. One of those ideas was storage unit auctions. First of all, what moneg a storage unit auction?

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With that being said, I am also extremely cautious with what units I buy. I am sure there are tons of people that get burned when they buy storage units but I have been lucky in my profits. So, I began researching some internet storage units for sale in my area. There is a great website that conducts storage unit auctions all over mony country, StorageTreasures. I bought my first storage unit from them last month after bidding on several but losing. I was a bit concerned with actually buying a unit online. I mean, a lot of ideas run through your mind when you buy any unit. Most pictures can be magnified by just scrolling over the picture that you select to get a closer look at the contents. What caught my eye was the Duraflame box and all of the stacked boxes in the. Also, the blue box was from QVC and that also caught my attention. However, the Duraflame wlth did not contain an electric fireplace. A auchions, a pair of crutches, an air boot, and a portable oxygen concentrator were also found in the unit.

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Better safe then sorry! I will have a peace of mind to know that it is going to a company that sells these for a living. For instance, this unit had a nice tote full of bath and body products. I even stated that they had been slightly used but even ones that have been almost completely used still sell on eBay! Mzke course, there was a lot of junk to go through too: letters, mail, old cards. I still have a lot of Christmas decorations withh the unit to go through that are stored in the basement. I mwke on selling them at the shop when it gets closer to Christmas. I think there are ups and downs to buying storage units online and in-person. I am going to stick with the convenience can you make money with online storage auctions bidding online for storage units though and really hope that more storage unit companies start selling their moey units via the internet. Share with friends: Facebook.

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Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Advertiser partners include American Express, Chase, U. Bank, and Barclaycard, among others. The reality show follows a group of people who earn money bidding on storage units that are up for auction. Sounds like an easy way to earn a side income , right? Unfortunately, as is often the case, TV makes it look easy. However, it can be a fun and lucrative business if you do it right. Americans have a love affair with shopping and collecting, and they increasingly need extra space for all of their stuff.

The Rise of the Storage Unit in the U.S.

If you want to get into the hugely profitable Storage Auctions game and you want to discover how to easily make thousands a month part-time with storage auctions, then you’ve come to the right place! You may have seen my eBay infomercial on TV — I’ve been helping people make money on eBay for over 15 years straight! Well, let me tell you about a money-making strategy that is a little different…. In fact, it’s like one giant treasure hunt and if you take the time to learn it, you will be all set with a new way to make money — a new income that you control — for life. I’ve been buying at storage auctions and teaching my platinum coaching students these techniques for over 11 years!

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Okay, I confess, I have been watching too much TV lately. It seems like there are TONS of new shows that are about storage unit auctions, buying and selling old stuff, or just about cool old stuff omney general.

The 2 that focus exclusively on buying and selling valuables from storage unit auctions is Auction Hunters and Storage Wars. I have a second confession to make as. I have been interested in storage unit auctions for about 8 or 9 years. Back when I first got married was when I really started to get into selling books and used clothing auctiohs eBay. One of those ideas was storage unit auctions. First of all, what is a storage unit auction?

A storage unit that does not receive payment from one of its unit renters for 90 days can typically take ownership of the items within the storage unit. The owners of the storage facility are not in the business of taking ownership of items, appraising them, and then trying to sell. They are in the business of renting storage units. So, they will hold an auction and will sell the items in the delinquent unit to the highest bidder. This allows them to make a little bit of money on the past due aictions, but more importantly for them, it allows them to rent out the unit again yoi start making their monthly revenue on it.

Buyers at these storage unit auctions have turned this into a full time business! These storage units will sometimes have items that are quite valuable such as guitars, antiques, jewelry, furniture, electronics, or other items that can be sold for a profit. The gamble is that you never know what exactly will be contained in the unit or if you are paying too much for it.

Granted, I have never participated in one of these auctions. Suctions am not claiming to be an expert. This is just something that I have studied up on and am quite interested in. And who knows, with some coaxing from you, I just might try it! But from what I have read and seen on TV it works likes. Everyone interested in the auction shows up at the start time.

The auctioneer opens the door to dith first storage unit, and gives everyone a few minutes to look inside. No one is allowed to touch any of the items or sort through. Bidders can only take a look at what they can see from the door! So, you might see some valuable items that are showing, but there might be junk underneath; or there could be valuable antiques hidden.

The auction then begins and works like any other auction. The highest bidder takes ownership of the storage unit when the auction closes and can then sort through the items. The realistic chances of finding a hugely valuable item in this business is probably pretty slim just my hunch.

Most of the stuff you will find in abandoned storage units is probably the kind of stuff that normal people like you and I might keep in storage.

Typical items would probably include: household items, clothes, books, furniture, TVs, computers, appliances, and other odds and ends. So, overall, this is why you would never want to bid too much, because most likely you are just going to make a small profit on your investment.

To turn this into a business, you have to be able to sell these items quickly. From my estimation, the best places to sell these items are as follows: Amazon, eBay, Craigslist, garage sales, and flea storgae. If I had to pick one or two, I would say to keep your selling restricted to Amazon or eBay.

Those are the two locations where autcions could get the most bang for your buck. However, if you get serious about this, you would might even consider opening up some kind of retail location. This all depends on what your business goals are and what you specialize in. Overall, you have to go where the money is. Clothes, books, and regular household items can be sold at a garage sale or flea market if you have to get rid of.

Other items can be gotten rid of quickly on Craigslist. And finally you can always sell everything on eBay if its small enough to ship. In fact, if you have a collectible or other valuable item, you can do quite well selling it on eBay. Link Whisper is a revolutionary tool caan makes internal linking much faster, easier, and more effective.

You can use Link Whisper to:. Build better internal links with Link Whisper. Be careful about pricing your stuff too high once you do know what you.

As with any business, pricing too high can and will drive away customers. Expect that some stuff you might break even on. Some stuff you may come away with a ton of profit. When dealing with antiques or other valuable items, you will do better if you can get it appraised, or at least looked at by an expert in your local area. They may be willing to purchase it from you or at least tell you the best place to sell it.

People do leave some valuable things in their storage units and the landlord just wants the unit. But even so, be careful with your budget. As with real estate, websites, and any other stoorage, the money is made on the buy.

How much you buy your supplies for will determine how much you make. Be sure not to allow your emotions to control you and take. You might end up finding a forgotten ring or auctons that makes the whole load worth it. If you come away with that haul, you can get almost nothing but profit. Its difficult to say how many auctions will be held in your area, but they are held throughout the country all the time. In fact, I called a couple of storage units in my area and was surprised how helpful the very first place I called was!

They were actually very happy that I was inquiring about upcoming auctions which makes sense I guess. They let me know that they typically have an auction once a month. They said that typically only 3 or 4 people show up as. This storage unit calls me every time there is a unit auction coming up for the past couple of months.

According to this website, StorageAuctions. This is a ratio of about 1 auction for every 3 to 4 storage units. In my area, which is not that big of a city, we have about 30 self storage businesses. This means that there could be as many as 10 different storage unit auctions going on every month right in my area. If you are in a major metropolitan area, you really could be doing this full time. Overall, I have been interested in looking into storage unit auctions for quite a while, and when I have the time I actually do plan on trying it.

Is this a business you think I should try out? Let me know. Also, I know this is not the typical internet marketing type idea that many of you are more interested in hearing. And just so you know, onine next few posts will be dealing with more online or technology ideas…just to keep everyone happy! By Spencer Haws August 10, 47 Comments. Getting into this sort of stuff is tedious, been there, tried it, yeah you may get lucky sometimes but the idea is to work smarter and get passive income and not have to work so.

Re-introducing hoof work and holding inventory into your life represents long hours to make a buck. Are you missing your 60 weeks already? Hey Mark — I think you are missing the point. In reality, storage unit auctions and any other business CAN be automated in a way.

Its called employees or outsourcing. Well yes if you are prepared to outsource it and give it a try and have the money to spare to do it then great. At least you will know. I would say do it as a little side hobby for a while and see if it goes. A guy down the street does this for a living, in that he aquires stuff and sells it on e-bay and Craigs list. Took some of my stuff to him to sell for me on comission.

But, I would say keep building up your core business as a priority and get makke first hand experience trying this out yourself. Best of luck if you do! I spend most of my day building and maintaining my niche websites and plan to do that for the foreseeable future. Its a learning process and should onlkne a lot of fun! Yes fun, always the prospect of finding something valuable. Now I have a pack of fortune telling cigarette cards odds from the early 20th century from the UK.

Would you be interested? It obline be sorage adventure for you. Did this for ages and went through the growing and spending pains until I got a system figured out where I can actually make money on the Internet without giving it away to every guru who sent me an email with a new product.

My point is that I have honestly found it neccessary to bring some hoof work into my life to stop me from going blind and having a backside shaped like a chair! I was lucky enough to find a physical product that sells reasonably well and obviously requires some effort to fetch, wrap, post. Photos and video of items should increase sales vs.

Beginner Guide on How to Buy Storage Units for eBay w/ Wades Ventures (Harder than Storage Wars)

And while the show has produced some astounding discoveries, the truth is that making a living from abandoned storage units for sale requires planning, proper execution and a willingness to travel to multiple auctions every week. Bidding on abandoned storage units for sale is also challenging because a typical auction requires you to look at the contents from the door without touching anything inside. This means you won’t really know what’s inside until you buy it and start digging through the contents. Making money in this business takes knowledge of how items will sell, as well as implementing smart bidding strategies.

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Many storage facilities hold auctions several times a month. You can also check local classifieds and storage facility websites, or subscribe to an email newsletter that will notify you of future storage-unit auctions. Make sure you know the sales terms, which in most cases require you to pay cash and clear out the unit within 24 to 48 hours. Before you buy storage units, you should know the ideal avenues to sell the things in those units. Online sales through auction websites such as eBay or advertising websites such as Craiglist are options regardless of where you live. Other options include selling at flea markets, garage sales or pawnshops. For heavier items, you are better off selling locally to avoid large shipping costs that will make it more difficult for you to gain a profit. For example, many abandoned storage units for sale feature furniture, books, jewelry and household items. Knowing the range of prices for these items on auction websites can help you determine how to price the items you sell for profit. Arrange for a truck or van to ensure that you can load all the items in the event that you win a bid on a large storage unit. Renting this vehicle in advance will save you time when you buy the abandoned storage unit. It will also help you avoid any possibility that you will run out of your allotted time to load your goods. Before arriving at the auction, set a spending limit. However, a good rule of thumb is to estimate the value of a unit by assigning a dollar amount to each box. Get to the auction early to see who else may be bidding and to register for the auction.