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The Complete Guide to Storage Auctions & a Valuation “Blue Book”
For Determining Item Value
Part 1: Information to Get You Started
Introduction ... 3
Terminology ... 3
Types of Auctions ... 7
What to Expect At Auctions ... 8
Auction Statistics ... 9
Part 2: Auction Participation Auction Logistics ... 9
Bidding Techniques ... 11
Competition ... 13
Part 3: Selling Your Merchandise How To Sell Your Merchandise ... 14
EBay ... 15
Shipping ... 19
Craigslist ... 20
Consignment ... 21
Flea Markets/Garage Sales ... 21
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Part 4: Auction Success Stories
Fran Kass ... 23
Bill Ott ... 26
Part 5: Blue Book Valuations (Book Two) General Information ... 32
Motor Vehicles & Parts ... 35
Recreational Vehicles ... 38
Commercial Equipment ... 41
Consumer Electronics ... 49
Household Goods ... 60
Outdoor & Sporting Goods ... 71
Red Flag Item Categories ... 78
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Part 1: Information to Get You Started
Introduction
Public demand for self-storage has grown steadily through recent American History. As goods have become cheaper to manufacture with technological advancement, people can afford to purchase more and upgrade their possessions frequently. Storage facilities have been around for many years as a convenience service for people who want to keep their unused stuff, but don’t have the space in their house to contain it. Storage facilities can be found anywhere – from the biggest cities to outlying rural areas. Opening a storage facility is an attractive option to anyone who owns land, since the profit potential per square foot is incredibly high.
Unfortunately, as with all industries, there will always be people that default on their storage bills. Storage auctions are a solution to this problem, allowing facilities to recover the losses accrued while the tenant wasn’t paying their bill. Every state has passed laws detailing the storage auction processes, with different states having different requirements. In most states, the facility operator must obtain a lien on the goods in the unit to be auctioned and give the tenant ample notice that their possessions will be auctioned. The facilities must publish public notices in a set amount of time, and then hire a licensed auctioneer to sell the items inside. Storage auctions are considered a public sale, much like a police auction. Virtually anyone can bid at a storage auction, making it an attractive way to obtain goods for resale.
This handbook was designed to completely set you up for profiting at storage auctions. The handbook covers important topics concerning storage auctions, such as what to expect, what to bring, bidding strategies, how to sell the obtained goods and other licensing and tax
information. Buying default storage lockers can be a very enjoyable way to make a profit, as long as the bidder is well informed.
Terminology
Appraisal: The act or process of estimating value of items won at auctions.
Attendance Fee: A fee that is sometimes imposed by storage facilities to allow you to attend an auction. This is in part due to the growing popularity of auctions and looky-loos.
Auction: A method of selling property in a public forum through open and competitive bidding. Also referred to as: public auction, auction sale or sale.
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Auctioneer: The person whom the seller engages to direct, conduct, or be responsible for a sale by auction. This person may or may not actually call or cry the auction.
Auction Chant: A rhythmic repetition of numbers, information on the auction itself such as the current bid and filler words spoken by an auctioneer to make the auction process more
entertaining and interesting.
Bid: A prospective buyer's indication or offer of a price he or she will pay to purchase property at auction. During the auction, the auctioneer may start the bidding off at a certain amount to try to gage interest, and then will try to incrementally increase the bid. Bidders may counter this number with bids of their own, which may be less than or more than the amount that the auctioneer has called.
Bidder: This term refers to the auction participants.
Bin Auction: The word "bin" refers to the actual storage unit itself, including everything inside of it. Bin auctions are generally more common than piece-by-piece auctions. The bin auctions are the type seen on A&Es show Storage Wars and similar shows.
Buyer’s Premiums: A buyer's premium is a fee added to the total cost of an item or unit auctioned. It is generally around 10%, and is added to the final bid price at the end of the auction. This normally covers the auctioneer's expenses such as cataloging and inventory of items auctioned. These premiums are only occasionally implemented at storage auctions. Caravan Auction: Auctions that occur on the same date and within the same vicinity as one another. Typically, caravan auctions are held by the same auctioneering company and participants travel from location to location and continue bidding on different units.
Cash Is King: This term is popular at storage auctions across the country and refers to the fact that traditionally at storage auctions, only cash is accepted as opposed to checks, debit/credit cards, or any other forms of payment, and that the highest bidder wins!
Cleaning Deposit: When bidders participate in auctions, they are regularly required to pay a cleaning deposit as part of their overall costs to ensure that they clean out the unit that they have won within 24-48 hours. Typically, when the unit has been cleaned out within the appropriate amount of time, the winner will receive their deposit back.
Income Demographics: Household income is a measure commonly used by the United States government and private institutions. Each household is measured by the income of every resident over the age of 15. Income includes wages and salaries, unemployment insurance, disability payments, child payments received, regular rental receipts, as well as any personal business, investment, or other kinds of income received routinely. These figures can then be
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accessed by auction attendees to determine the average income of households in areas where auctions are occurring.
Jump Bid: Auction attendees can jump the bid higher than the current asking price. This is often a tactic of bidder’s during an auction to discourage other bidders from continuing to place further bids.
Lien: An adverse claim or charge against an item when that item is being used as collateral for a debt.
Lockers: Storage units are often referred to as lockers (or sometimes bins).
Looky-Loo: Curious new auction attendees are often referred to as looky-loos. Seasoned veterans refer to newbies in this manner before they begin buying units.
LostInStorage.com: This website safely connects storage unit auction buyers with the original owners of the contents inside the unit that they have won. This allows buyers to send back personal affects to previous unit owners such as family photos, marriage certificates, legal documents, medical histories, military records, and more.
Market Value: The highest price an item will bring in the open market during resale Maximum Bid: A maximum bid refers to the maximum amount of money a bidder is willing to spend on a specific unit.
Online Auction: Many storage facilities post auctions online to avoid holding auctions at their physical locations. The participants place their bids online, and like a traditional auction, must then come to the facility within 48 hours and clear out the unit after purchase.
Open Bid Auction: Open bid auctions are also known as English auctions. In this type of auction, each participant openly places their bids on each unit after reviewing the contents inside the unit from the outside. Each bidder openly tries to outbid the previous bidder to eventually win the contents inside.
Outbid: To submit a maximum bid that is higher than another buyer's maximum bid.
Piece Auction: When individual items are sold piece by piece from within a storage unit. Piece auctions are less common than bin auctions due to individual state laws that may prevent auctioneers and facility employees from entering a unit to catalogue inventory before the sale of the unit. However, when these types of auctions occur, often the individual items sell for more than the entire unit might.
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Register: Before attending an auction, participants are required to register to bid. Often the registration process requires a participant to show a valid driver’s license, and occasionally a resale certificate/permit.
Resale:Auction participants often purchase units to resale the items at their own stores, online, or through other venues.
Resale Certificate/Resale Permit/Seller’s Permit:Seller’s Permits and Resale Certificates are integral to a reseller’s business for tax purposes. Some states use one term over the other, and some states may combine the two documents together as a single document. Some states may have other names for this as well.A seller’s permit allows the reseller to sell items won at auctions and to collect sales tax from customers and report those amounts to the state on a regular reporting period (either monthly, quarterly, or annual). Resale certificates identify a business as having the right to make certain nontaxable purchases.
Sealed Bid: Sealed bid auctions are another style of auction. Sealed bid auctions are often completed online, but don’t necessarily have to be. In this type of auction, each participant enters a sealed maximum bid once, and then at the end of the auction period (time varies) the highest maximum bid wins like in a traditional auction.
Starting Price: The likely starting bid for a given auction, set by the seller at the time of listing. StorageBattles.com: StorageBattles.com allow storage facilities to post their auctions online for
sealed bidding. StorageUnitAuctionList.com has teamed with StorageBattles to list these auctions on our site as well.
StorageTreasures.com: Storageunitauctionlist.com has teamed up with StorageTreasures.com to provide their pro tools, tips, tricks, and videos with our customers for a discounted price. Self Storage Laws: Each state has its own set of self storage laws pertaining to how auctions must be held, how long each delinquent unit must sit, how delinquent unit owners must be contacted, how excess money must be returned to the original owners, how certain items such as guns and cars must be handled and more.
TBF (To Be Followed): This acronym is used on StorageUnitAuctionList.com on the Auction Listing page of each user’s account in the Date field when referring to Caravan Auctions.
Caravan auctions are grouped together and denoted in blue. The first auction date and time will be listed. Subsequent auctions within the same caravan will be listed beneath this with an address for each auction, and TBF entered in the Date field because it is impossible to know exactly how long each auction will take in and of itself and what time each subsequent auction will start.
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Types of Auctions
There are many different types of storage auctions. Often, these can overlap each other. For example, you can bid on a bin auction using the sealed bid method for submitting your bid. Each type of bid is listed in our terminology section, however, just to reiterate the differences we’ve listed these all again as we talk about them throughout the book and regularly on our blog.
Caravan Auctions: Auctions that occur on the same date and within the same vicinity as one another. Typically, caravan auctions are held by the same auctioneering company and participants travel from location to location and continue bidding on different units.
Online Auctions: Many storage facilities post auctions online to avoid holding auctions at their physical locations. The participants place their bids online, and like a traditional auction, must then come to the facility within 48 hours and clear out the unit after purchase.
Open Bid Auctions/English Auctions/Bin Auctions: The word "bin" refers to the actual storage unit itself, including everything inside of it. Bin auctions are generally more common than piece-by-piece auctions. The bin auctions are the type seen on A&Es show Storage Wars and similar shows.
Piece Auctions: When individual items are sold piece by piece from within a storage unit. Piece auctions are less common than bin auctions due to individual state laws that may prevent auctioneers and facility employees from entering a unit to catalogue inventory before the sale of the unit. However, when these types of auctions occur, often the individual items sell for more than the entire unit might.
Sealed Bids Auctions: Sealed bid auctions are another style of auction. Sealed bid auctions are often completed online, but don’t necessarily have to be. In this type of auction, each
participant enters a sealed maximum bid once, and then at the end of the auction period (time varies) the highest maximum bid wins like in a traditional auction.
Storage Unit Auction List Exclusive Auctions: StorageUnitAuctionList.com offers their subscribers hundreds of exclusive, verified auctions each month that cannot be found anywhere else. These auctions are denoted on the website with a this logo so that subscribers can easily find them!
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What To Expect At Auctions
In this section, we are discussed bin style auctions. Traditionally, bin auctions are much more common than piece style auctions. And are performed on a regular basis at facilities across the country.
In many respects, storage auctions are comparable to poker games. Every game of poker you play has a different outcome and no two games are the same. You are essentially betting that a storage unit will contain high value items that can be sold for a profit, so it’s important to find a good balance and develop strategies for the different scenarios you will experience and should know what to expect when attending auctions.
Attending your first auction can be an intimidating, albeit exciting experience. Veterans and newbies alike will most likely be in attendance, waiting for the auction to start. Popularity and interest in storage auctions has exploded with the arrival of reality television shows
documenting the storage auction business. A number of non-bidders may be in attendance as well, simply to witness the auctions for entertainment value. Parking may be an issue,
depending on the size of the facility, as many storage facilities aren’t equipped to hold a large number of people at once. Fortunately, storage facilities tend to be built in more outlying commercial areas, so parking at nearby retail stores or vacant office buildings could be a possibility.
We recommend you arrive at the site of the auction at least fifteen minutes before it starts and always call ahead to the facility before you drive to the auction to ensure that the auction is still taking place. Owners of the units can pay their late rental fees up until the moment that the auction starts, and many may pay in the days leading up to the auction, or even after an auction has been verified by the Storage Unit Auction List staff, so always call ahead to be sure! If you are interested in bidding on any storage units at the auction that day, the auctioneer will have you register. In most states, a bid is considered a legally binding document, so the auctioneer must have accurate contact information for you. Many auctioneers will require you bring a valid ID to verify your information and most auctions accept cash only. Some auctioneers or facilities may also require you to show your resale certificate/permit to avoid paying sales tax on the locker that you buy. Upon registering as a bidder, you will get an auction card and will be assigned a number as a bidder. Depending on the number of people bidding that day, the set-up process can be quite lengthy, so the earlier you arrive, the better.
When it’s time for the auction to start, the auctioneer will lead the pack of people through the various units at the facility, stopping at each locker up for the auction. The auction process varies by state, but generally, facility operators will have their own rules about storage
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and open the door. Each bidder gets a chance to view the contents of the storage unit from the door, but won’t be allowed to actually touch anything within the locker. This slight glimpse is the only way you will be able to judge the value of the bin’s contents, so it’s important to pay close attention to certain details. Bidding techniques a will be covered in a later section of the book.
The auctioneer will announce when the bidding starts, and will ask the crowd to quiet down. He will announce the rules of the auction and explain the facility’s procedures in dealing with auctions. Once the bidding actually starts, the auctioneer will announce the base price and it will continue as a normal auction, with the auctioneer accepting bids as people call them out. The entire bidding process doesn’t normally last longer than a few minutes. Once the winner outbids the rest of the bidders, the auctioneer will acknowledge the winner and move on to the next unit. This is a very basic outline of storage auctions from beginning to end. We will cover many of these aspects in further detail later in the book.
Auction Statistics
We are constantly working to bring our customers the most up to date and comprehensive list of storage auctions across the entire country. In May of 2013, a little over two and a half years after our founding, we have brought our customers over250,000 auctions. We’ve done the math and that’s over 1,000,000 units. We offer customers on average of 10,000 auctions each month. That’s more than 30% more auctions a month than our competitors.
Part 2: Auction Participation
Auction Logistics
Professionally buying storage lockers at auction requires a bit of logistic work beforehand. Finding the auctions, researching territories/income demographics and developing budgets are important tasks to keep your business organized and profitable. This section will cover some useful techniques when dealing with the logistics behind the job.
Finding Auctions Based on Income Demographics
Many people who professionally buy storage units choose to travel to other areas for a wider variety of merchandise. A territory’s income demographics provide a snapshot of the type of people living there and by extension, they quality of goods located in storage units. There are a number of tools online you can use to research income demographics, but the best visual aid out there is actually on a housing
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listing site. www.hotpads.com is a site that people use to find apartments and houses for sale and rent, but the site has a couple of valuable features. Clicking on the map in their home page will show you a satellite view of the country. By clicking on “heat map” in the upper left hand corner, you can select the “Household Income” option and it will show you a visual of income demographics in a particular state. HotPads provides this information on a county-wide level. Bidding at auctions in higher income areas may result in higher quality items won.
Transporting and Storing Merchandise
Transporting merchandise from the storage facility to your warehouse, garage, or storage space is another important element to factor into your auction experience. Moving such a large quantity of goods is very labor intensive. (So remember to use your legs and not your back!) More than likely, you’ll want to make sure you bring someone with you to help load and unload your items. The ideal vehicle option for hauling everything would be a small freight truck, or a trailer that can be hitched to the back of another vehicle. You want to make sure that whatever you are using can easily fit larger items when necessary. A flatbed truck or SUV with foldable seats are options as well, but may require you to make multiple trips to remove everything from the storage unit. You should ultimately make the investment for a suitable vehicle
because it will save you a lot of time and money in the long run. Renting a freight truck can be very expensive, and will ultimately hurt your bottom line.
Another logistical issue that has to be tackled is the inventory management and warehousing of merchandise won at auction. Since storage units yield a large amount of goods when you buy them, having an efficient inventory and warehousing system is pivotal to success. I recommend creating a separate work station to deal with the storage and sale of goods. Finding
inexpensive warehouse space is easy in most areas. I recommend contacting a local property management company that specializes in commercial property. Warehouse spaces is available in all sizes, so shop around and try to find a good fit for your needs. If you plan to open a home based business, converting a garage or large exterior storage center is the best way to go. Organize your warehouse to streamline the flow of inventory. Shelving is very important in keeping an organized warehouse. By installing shelves and other storage containers, you can keep items organized by type. Devote a set amount of floor space for bigger items, like furniture and appliances. You should have a section of your warehouse devoted to items that are ready to sell, so you can quickly locate the items. You should also have a designated “needs work” section for the goods that need to be repaired.
Keeping records of the items you bought sold and donated help you manage your company and develop patterns and systems that make your company more profitable. The inventory can be very basic – it doesn’t require an extensive knowledge of computers. By logging all your items in a Microsoft Excel Spreadsheet, you can keep track of inventory as it moves off the shelves in
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the warehouse. You can also create different Excel pages for each unit that you’ve purchased. You can keep track of the types of items that sell and the types of items that don’t sell, and can better perfect your bidding strategy.
Bidding Techniques
As I mentioned in the “What to Expect” section of the handbook, you will only have a small window of time(usually only a few minutes) to preview a unit before the auction starts and you have to determine how much you are willing to bid and what the potential return on
investment could be based on what you are able to see.
There are several factors that should come in to play before you decide your maximum bid on a unit, and you must pay close attention to details during this brief glimpse. A bad sale can set a brand new company back quite a bit, but these tips will help you make an informed decision. Remember: this section will list a number of do’s and don’ts, but there is always a chance you could lose or win big at any auction – it’s all about the luck of the draw. By following these general techniques, you will increase your success rate at storage auctions.
DO
Notice Larger Items such as appliances, furniture, and electronics. When possible, take
note of any visible brand names. Having knowledge of the more popular brands is suggested. Brand names may not always be visible, so instead, you’ll have to review the quality and condition of the merchandise instead.
Bid differently depending on the type of unit. Commercial units will contain a different
caliber of merchandise than units containing house hold goods. Commercial goods are likely to net a higher return on investment, so paying a bit more is generally
recommended, depending on the quality of the merchandise. Storage units containing commercial goods can turn a quick profit. Brand new commercial refrigeration or industrial tools can cost business owners struggling in this economy thousands of dollars in overhead costs. Typically, small business owners will prefer to buy used and working equipment from local merchants. Finding commercial equipment can be a potential goldmine, depending on how inexpensively you can purchase the entire unit. If you see something like a commercial refrigerator, it increases the likelihood that you will find other commercial equipment that can be equally profitable. There are a couple of things to remember before bidding on commercial goods. Always look at the
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cleanliness and general appearance of the equipment before you bid too high. Sometimes, people will store it in storage units because it needs major repairs. Even broken commercial equipment can turn a profit as long as you don’t bid too high. Just be careful not to bite off more than you can chew. If you don’t have access to a vehicle that can carry such big pieces of equipment, you may have to spend too much renting one to move the equipment.
Take note of how the unit is packed. Notice how items are stacked, and what they are
stored in. A neatly packed unit with proper storage boxes can be a good indication of value, even without being able to see what’s inside each box specifically. Keep an eye out for commercial boxes such as U-Haul and Uline boxes. (This indicates that the previous owner went to the trouble to purchase these boxes, which may be an
indication that the items store inside are more valuable.) By sealing the box, the former owner took the time to make sure the items inside were secure, which could mean merchandise worth more money.
Unopened, completely new boxes may be worth increasing your bid if they appear to
contain new appliances and electronics.
Inspect any furniture in the unit to try to determine the value of other items that cannot
be seen. For example, a leather sofa in good condition might indicate more valuable items are stored, while an old ratty sofa may be an indication of less valuable items.
Always bid lower at outdoor storage unit auctions. The contents of outdoor units will
typically be much less valuable than those within inside units. Often, indoor units are temperature controlled and contain items of higher value than those that were stored in outdoor units.
Take note of the unit size. This is another important factor when it comes to bidding
strategies. Remember that ultimately at storage auctions, the more you can get for less money equates to success. In almost all storage units, 60% of what you find will have little to no value and will probably be either donated or trashed. The bigger the unit, the more likely you’ll find big ticket items and other items to resell.
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DON’T
Base your bid on unseen, mystery items. Bidding on mystery units may be tempting, but
may hurt your bottom line in the long run. Try to only bid on units where you can see items that can at least help you break even. Items such as safes for example, may be complete red herrings. The safe could contain a jackpot collection, or it could be completely empty!
Do not bother bidding on units full of garbage bags. Often garbage bags contain clothes,
comforters, or table cloths. Generally, it’s hard to turn profit with clothes unless they are brand name clothes. If a unit contains an unusual amount of garbage bags, it is probably wise to bid lower, if you choose to bid at all.
Don’t spend money on dirty units. Generally, this means that the unit was not well
taken care of. If you are storing valuables in a storage unit, typically, you will take extra precaution to make sure your items are well preserved. An unkept unit can be a sign of low quality merchandise. Further, if the items haven’t been stored properly, mold can easily grow in storage units where owners choose not to take the extra time and effort necessary to keep up with the unit, so even if they once contained items of value, they may not be in the best shape for resale.
Don’t let the competition get the best of you! If someone is bidding too high on a unit,
know when to back out. Always decide on a final bid price for any unit you are interested in purchasing and don’t go over that number. People win and lose big on storage auctions every day, and a big loss to a newer company could potentially ruin their chances of succeeding with auctions. People do make mistakes, and it will probably take you a little while to perfect your bidding and selling strategies, but don’t get too caught up in the heat of the moment!
Competition
Storage auctions have exploded in popularity in recent years due to reality television. The little known industry has piqued the interested of thousands of interested bidders, and attracted
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many different people from many different walks of life! There are a few different types of competitors you must watch out for!
Newbies/Amateurs: Can be problematic to other bidders. Might jump in on a cheap unit to see what they find, generally are present to observe and can inadvertently drive up the cost of units. No match for anyone with deep pockets.
Profiteers/Gurus: Looking first for an immediate return on investment, but also has a varied knowledge of specialty items and niche markets through which they make every return possible. Pretty tough bidding competition but does not like to play games for very long and as they see profits dwindle their interest follows, but probably not their temper. Not the easiest friend to make.
Veteran Companies: Fears no one. Comes in looking for inventory and can outbid anyone to get what they like. They have a reliable method of resale and are not afraid of taking a slight loss in the name of their dominance.
Store Owners: People looking for specialty or themed items, generally very picky. Not the stiffest competition but could take a newbie any day.
Gamblers: They usually keep their bids low and hope to find something good. Gamblers will likely attend storage auctions more as a hobby than as their primary source of income.
Conservative Bidders: The opposite of a gambler. They will only bid on items that they can see, and consider any boxes to be as good as empty when bidding on the unit. If a conservative bidder keeps raising their bid, you will know that there is something good in the storage unit. Generally they are looking for something specific to keep.
Part 3: Selling Your Merchandise
How To Sell Your Merchandise
One of the most complicated aspects of professionally buying storage units is actually selling the merchandise obtained. You may have several different selling channels for your items. In this section, we’ll review some of the most popular and often used selling channels, including Ebay, Craigslist, Consignment Stores, Yard Sale/Garage Sale/Flea Market and review how to best utilize these methods for selling the items that you’ve won at auction.
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Ebay
eBay is the go to place for any reseller of quality goods. Many merchants and retailers use eBay to sell new items, but the bulk of the trading that occurs on eBay is in used merchandise. eBay is impractical for many of the lower quality items that you are bound find at storage auctions, but can be very useful for the higher ticket items won. The reason behind this logic is that unlike the other selling methods we’ll cover later, when you sell through eBay, you need to consider the cost of shipping items in your overall costs, as well as additional fees that eBay imposes based on your account type. However, for certain items, the cost of shipping and selling it outweighed positively by being able to sell to customers all over the world!
EBay is also a tool commonly used in the resell trade to find an item’s actual worth, based on market value. You can find almost any type of item that has recently been sold on eBay. To check the current market value for an item, visit www.ebay.com and use the search tool to find items within a specific category, or a specific item. To get a general idea on pricing, you can click the “Completed Listings” link and this will show only items that have either already sold, or were part of expired auctions. You can review several completed listings to get an idea of the market value for your item, and what buyers are willing to pay.
Creating an eBay account is very easy – all you have to do is go to www.ebay.com and click the register button in the upper left hand corner of the screen. Follow the instructions by filling out your billing and contact information, and you’ll receive email notifications when your account is set up. PayPal is the main payment option on eBay, and many buyers will refuse to buy from a seller that doesn’t offer PayPal as an option. PayPal is a payment company owned by eBay that directly withdrawals and deposits from your bank account when you buy and sell stuff on eBay. When signing up for your PayPal account at www.paypal.com, you want to make sure the PayPal account is associated with the eBay account. To sign up for a PayPal account, all you need is a checking account and some valid form of identification – like a driver’s license. You won’t immediately need the valid identification to start with, but PayPal will hold your money for a set amount of time until you verify your identity with them. PayPal has a pretty extensive customer support network that can describe the scenarios in detail at
https://www.paypal.com/cgi-bin/helpweb?cmd=_help.
Starting your resell business on eBay may be slower than other selling options, as many buyers may be hesitant to purchase from an unknown seller and may only want to purchase from a seller with positive feedback. Positive feedback is eBay’s quality control system. People you
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have sold and shipped items to can leave you feedback based on your communication, timeliness and quality of the product you sold based on the posted eBay listing. Don’t be discouraged by a zero feedback rating, because if you sell product that people want to buy, then they will buy it from you. Feedback is a number you generate over time; as you sell more items, your feedback will rise as long as you maintain good customer service skills and ship items in a timely fashion. EBay buyers will often send you specific questions on items they are interested in purchasing, so make sure you answer these questions as honestly as you can. If you take some time and create a good eBay listing, your eBay profile will look more legitimate to prospective buyers and will increase the likelihood that your items will sell.
Designing an eBay listing is actually very easy. To create one, you simply need to login to your eBay account and click on the “Sell” section in the upper left hand corner. The first option on the dropdown menu shows “Sell an item,” clicking on that will bring up the basic eBay listing creator. EBay provides some good tips on listing quality in this section on their website
http://pages.ebay.com/help/sell/selling-basics.html. For now, I will go over the basics creating an attractive eBay listing that will surely attract buyers to your product and increase your success in the eBay world.
The first thing you will need to choose when selling an item is the items category. eBay breaks items up into categories and sub-categories to help buyers find the goods they are actually looking for. Choosing the right category is pivotal to successfully selling your item to the right person. A good way to check the appropriate category for an item is by checking the
“Completed listings” for similar items and using similar category for listings for items that sold in the price range that you’re hoping to sell within. If there are no completed listings for the items that you’re attempting to sell, you can also browse through the categories and pick one based on your knowledge of the item. If you have a UPC or ISBN number for the item, you can type it in the appropriate field and eBay will tell you the appropriate category for the item. You can also search by keyword in the same input box, and eBay may recognize the item and be able to give some basic item information that will be visible in your listing. Use common sense and your own judgment when it comes to listing items, because eBay may take the listing down if it is inappropriately categorized.
You can create a title for your item after you have chosen the right category. The title should be descriptive, but should also contain the full name of the item so it’s more visible to people looking for that particular product. For example, if you won a slightly used plasma flat screen television at a storage auction and wish to list it on eBay, enter the make, model and screen size of the television in the title section, you may have to do some basic internet research on the product in order to obtain this information, but it is normally readily available online. It is also helpful to include a brief description of the item condition in the title. For example, if you win a
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Samsung PN42C450 42" Plasma HDTV, the title should read something like,
“Samsung PN42C450 42" Plasma HDTV – Excellent Condition!” By using descriptive adjectives in the title, you can entice buyers to click on the listing the gain more information. You can add a subtitle to the listing for an additional fifty cents with more descriptive language, but most people opt out of the subtitle due to the extra listing fee.
The next step for creating a listing is including item specifications, such as the type of item and the brand. EBay will provide you with a drop down menu to pick the best choice as long as you’ve chosen the right category. Condition describes the basic condition of the item. The condition options are as follows:
New – only use the new condition if the item has never been used or open. The original packaging must be sealed
New (other) – use this to describe a new item that may have been removed from the packaging for various reasons
Manufacturer Refurbished – should only be used in cases where you have a certified refurbished item that was sent back to the factory to be fixed Seller Refurbished – describes an item that you either paid to get repaired or
repaired yourself
Used – describes an item that’s been used and is sold as is. Buyers will want to know whether or not you have tried to power the item on or otherwise checked to see if the item is working. This will be the option you use in 99% of your listings, unless you are knowledgeable about repairing a specific type of product and sell only that product on eBay
For parts or not working – describes an item that doesn’t work at all and can only function for use as parts
**EBay has further options that help describe your item to prospective buyers depending on whether or not it recognizes the item. Don’t worry if eBay doesn’t recognize the item, as you will be able to add more information to the body of your listing.
If you don’t already have one, you should purchase a digital camera. Taking pictures of the item you want to sell is absolutely pivotal to successful eBay selling. Pictures provide your customers with a sense of security, and a feeling that they are getting exactly what they see in the picture. EBay allows you to post up to eight pictures for free. It is important to post as many pictures as possible – buyers appreciate knowing as much about an item as possible
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before they bid. EBay has some great tips on photography and posting pictures on this section of their website. http://pages.ebay.com/help/sell/photo_tutorial.html Take the pictures and upload them to your computer with the software that came with the camera. You can save pictures in the “My Pictures” section of your computer so you can easily find them. I recommend creating folders for different items to keep your pictures organized.
You should create a designated space for taking pictures within your work area. Use a large table that can hold items of various sizes, and cover it with a sheet if it all possible. The best scenario in picture taking is a solid background, so buyers aren’t distracted by other elements when reviewing the image. Always take close-up pictures of your items, including various angles. If the item has any cosmetic damage, it is very important to take close and detailed pictures on the item and include it in the body of the listing. If someone buys an item from you with an undocumented flaw that wasn’t in the pictures, they may leave you negative feedback when they get the chance, which can drastically hurt your eBay credibility. Getting a negative feedback rating can ruin your eBay reputation. You will also have lost a repeat customer, and you will quickly find that repeat business is important to maintaining your business, even more important than finding new customers in same cases.
The next step is creating the body of your listing. You have two options when it comes to writing your listing – eBay has a user friendly “Basic Format,” where you can adjust the font type, size and color of your listing. There is also an “Html Format” you can use if you have moderate knowledge about designing text in HTML format. HTML format gives you more freedom to customize your listing and allows you to add features, such as a logo for your
company, to make your listings more attractive to buyers. There are many free online guides to using HTML code, so if you are interested in increasing your tech knowledge, you should do some online research about HTML.
Your listing does not have to be too elaborate to entice buyers. All you need to do is include some basic information on the item, such as the size, weight and quality of the item. Be sure to include a section that notates any cosmetic or functional flaws for any item you sell on eBay. Buyers want to know exactly what they are paying for when shopping on eBay. You can also use the listing body as an opportunity to upsell your product, providing buyers with reasons to buy your product and increase interest in the item. It is also important to detail your policies on things like shipping, returns and refunds and payment. You can find good examples of these policies from other eBay buyers and word yours to accurately describe your company’s need. The general norm on eBay is that an item is shipped within 24 hours after receiving payment, so do your best to hit that target. EBay also has a number of Listing Designers that you can pay to use. The Listing Designer will be attractive to buyers, but you may want to weigh the benefits of using the service with the cost. Listing Designers can add up to be quite a bit of money if you
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are selling multiple items on eBay, and you may be able to create an effective listing without paying for them.
EBay has three general payment options that sellers can utilize. “But it Now” is the first option; “Buy it Now” allows you to sell an item for a lump sum amount, and the first buyer that pays for it is considered the winner. “But it Now” is an effective choice for people that have a fixed price in mind for a product, but eBay charges a higher listing cost for “Buy it Now” items. If you list an item as “Buy it Now,” don’t be surprised if it does not sell right away, as the “Auction Style” format tends to be the most popular option for eBay buyers.
You can also create “Auction Style” listings where you set a starting price and people can keep bidding until a clear winner is decided when the auction ends. Many buyers choose eBay for the auction style format, because it’s possible to find great deals on usable goods. Should you choose to go with the auction style format, you will want to set the starting price high enough that you don’t lose out on the sale. Once someone bids on an item, you are no longer able to edit the listing or adjust the price, so double check your work before you finalize the listing. EBay has a strong stance against backing out of a deal once it’s completed and may penalize your account if you back out. With both the “Buy it Now” and “Auction Style” listings, you have to decide how long the auction/listing will last. Generally speaking, between one and two weeks is a good shelf life for a sale on eBay, as it gives buyers plenty of time to find the item and consider buying it. EBay charges different rates depending on the length of the sale. The next step is adding payment and shipping information which will appear at the bottom of the listing. You should always include PayPal payments by credit card, because most buyers will refuse to pay any other way. Other options include Moneybookers and payment through your own card processing system. EBay’s payment policy strictly prohibits accepting money outside the eBay realm, and if you are caught doing so, your eBay or PayPal accounts could easily become suspended.
Shipping
Shipping is another big part of the eBay process. Most buyers are more than happy to pay for the cost of shipping the items they win, but like to save as much money as possible doing so. You should provide multiple shipping options for your buyers, such as UPS and USPS. If you wish to invite International buyers to participate in your auctions, you can also include that option. Just make sure you understand the customs laws and cost of shipping to foreign countries. You can get shipping estimates through companies like UPS and USPS to different locations on their website. If you include the package dimensions and weight in your listing, prospective buyers will be able to look this information up themselves, saving you time on buyer inquiries about shipping. Make sure the information you provide is correct, and provide
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the packaging dimensions for all your sales. A common mistake among new eBay sellers is losing money on shipping due to clerical errors, so make sure to double check your work before uploading a listing. You can buy shipping and packing materials at a number of stores in your local area. Some sellers choose to add an additional handling/packaging fee to their listings to cover the cost of packing materials.
If you are selling multiple items on eBay, it can be a somewhat daunting task. EBay and PayPal both allow you to print off shipping labels from their websites for a fee. They will charge you the UPS and USPS fees and all you have to do is print the label and put it in a sealed plastic label holder that you can purchase at your local Post Office. You can also go to the UPS store or the Post Office and pay them the shipping fees yourself. They will stick the shipping labels on the package and take them for delivery the next time a truck comes to pick an item up. Once you receive shipping numbers, it is recommended to give them to your customers so they can track the progress of their shipment. The eBay Selling Manager allows you to do this with ease. Each item sold will be in your selling manager, and you can view feedback, payment and shipping information in case you ever need it for reference.
eBay is an excellent selling tool, but like any other business venture, you have to make sure to stay organized and practice makes perfect!
Craigslist
Craigslist is another option for selling the items that you’ve won at auction. Craigslist is
recommended for bigger items, such as appliances, furniture and commercial equipment, since the shipping costs make selling these items on eBay impractical. Craigslist allows you to reach a local audience that would be more willing to pay you when they come to pick up the item. Craigslist has a different site for every major city in the country. For example, the URL for the Craigslist in Asheville, NC is asheville.craigslist.org.
Craigslist’s “For Sale” section has a number of categories to choose from. To post an ad on Craigslist, you simply need to go to the “For Sale” section and click the “post” option in the upper right hand corner of the screen. Choose the right category and you will be prompted to write up an ad for the item you wish to sell. The Guidelines on the body of the ad should be relatively the same as eBay, without the rigid competition. You should accurately describe the condition of the item, and prospective buyers will be able to reply to your ad by email with any questions or if they wish to make contact regarding the sale. You can include your phone number in the ad as well if you feel comfortable doing so. Make sure to include the general location of the item – normally the neighborhood the item is located in will be more than sufficient.
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Craigslist also allows you to post picture of the items, but they limit the number of pictures to four. If you are familiar with using FTP file sharing and hosting pictures on a website, you can add a link to your photo album hosted online to include more pictures. Since Craigslist is generally free to use, don’t be discouraged if the first couple of times you try to sell the item you don’t get any serious bites. Craigslist does, however, have pretty strict anti-spam
measures. Be sure not to post the exact same ad within 48 hours or they will remove it from view. Unlike eBay, it’s ok to post multiple items in the same ad on Craigslist. If you won more than large piece on Craigslist, you may want to condense these two items into the same ad to save time.
There are other resale options available. Some people choose to open Resale and Thrift stores in their local areas to peddle goods. The retail outlets tend to be higher risk then selling online due to the cost of incorporating a business and obtaining the appropriate licenses. Every state and municipality has different laws regulating licensing, so be sure to do your research before you invest too much time and money. You also want to look into your state’s sales tax law to make sure you are selling according to their regulation. If you are just starting out with storage auctions, you may want to try selling online as much as you can to gain experience on the resell industry, and then choose to branch out to open a resale shop.
Consignment
Many storage auction purchasers regularly sell items to consignment shops as one of their main avenues for making money. You can quickly find these stores by performing a search engine search. Google will automatically return results located close to where you are, with their contact information listed. Once you have a relationship with these stores, you can then continuously items to them, or place items in their store for sale, with them receiving a percentage of the sale.
Once you’ve been in the resale business for some time, and have started to gain some success, you may find that you’re ready to open your own store! This will require a good realtor, pest control, insurance, inventory and more! This is a big step, with many components to consider! You should work with professionals in your area to learn more about what is necessary to open your own store!
Flea Markets/Garage Sales
If you don’t think that you’re ready to take on a permanent retail location, you may instead want to test your luck at local flea markets or through selling at garage or yard sales. In this section, we’ll review some basics on how you can best succeed at selling through these venues.
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Flea Markets
Millions of customers flock to flea markets each year and immediately, you will be opening your auction items up to a fraction of these consumers. There are over 5,000 flea markets across the country, and many people make good money selling through this channel. Like holding a garage sale you can simply participate during the weekend while still maintaining another full time job and this will then work as a second income!
Booths (or sometimes called stalls) can be rented for one weekend at a time, which allows you to test out your new business plan to see how items sell in your area. Typically, a booth will vary in size, but many are 10’ X 10’. Space can be an issue if this is the case, and you may find it beneficial to rent several adjoining stalls to offer your customers more room to shop and browse.
The cost to rent will vary depending on the size of the market and the amount of foot traffic it normally sees. Low end rentals may run you anywhere from only $40, while busier markets will charge a few hundred dollars a day.
To give your customers variety and get them interested in your resale business, you’ll need to bring many different items with you to the market. You may find that you are more successful selling in one category than another, for example, electronics versus home décor, and you can then over time, try to begin to purchase units that contain these items.
Logistically, you will need to prepare ahead of time for how you plan to transport your inventory, and how you will plan to display your merchandise.
Plan to rent a small to medium sized U-Haul trailer for transportation purchases. Typically a small 4’ X 8’ enclosed trailer will not run more than $40 a day.
Once you get to the market, you’ll need to display your merchandise. You should plan to bring several folding tables, and accquire boxes or other display materials if the booth isn’t equipped with display shelves. How you display each item really will depend on the item. Some big ticket items can sit by themselves as a display, but items like clothing can be sorted by size and played in cardboard boxes for your customers to browse through.
It may be necessary to purchase a canopy that can be set up to protect our merchandise from the sun and weather.
Garage Sales/Yard Sales
If you are just starting out in the resale business, there are a few straightforward business models that can allow you to get started without tons of manpower or experience.
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As a first time seller, simply advertise in your local newspaper or classified paper a week to two weeks before you plan to sell. By holding a sale in your own front yard, you avoid the logistics and energy required to physically transport merchandise- you simply set up shop and let the customers come to you! You may find more success by joining forces with other families in your neighborhood who may be a planning their own garage sales. The bigger the inventory
selection, the more likely you are to draw a crowd!
Donating Goods to Non-Profits
Experts say to expect that two thirds of the contents of any storage unit will be unsellable and to weigh that against what you see during the unit preview. Often, storage locker contain documents, clothes and other personal belongings alongside large ticket items like appliances, furniture or even cars. The point is that anyone who is regularly attending storage auctions will come across a lot of used clothes, outdated electronics and other goods that are generally too worn to be resold.
As a storage auction buyer, you have a unique opportunity to give back to the community simply by disposing of unwanted goods appropriately. The single most responsible thing to do with the usable but unsellable goods found in units is to donate them. Major thrift store companies like Goodwill not only clothe thousands of Americans every year but they also build low income housing for the homeless nationwide. And not only is giving back generally amiable, it is also economically sounds seeing as how donations are rewarded with tax write offs.
Goodwill has a Donated Items Value Guide that can be accessed from their website.
http://www.goodwillwct.org/ It can be used to keep accurate records of the total value of the donation. Just make sure to keep an itemized list of what was donated as well as a signed receipt from the donation center, verifying your records so that you can claim the annual donation total on your business taxes. Never before has giving back been so rewarding!
Part 4: Auction Success Stories
Fran Kass
In August of 2012, our staff had the pleasure of interviewing Fran Kass, an avid storage auction hunter, blogger, and business woman. She has continued to be an avid fan, contest participant and friend to StorageUnitAuctionList. Below is our original interview with her.
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(laughs) I knew you were gonna ask me that. About a year, and from watching the shows. I’ll give you some background info on me. I’m one of those people that if I say ‘wow that looks cool, that looks like something I wanna do’, I’ll do it. You’ll never hear me say ‘gee, bungee jumping looks really cool!’ Jumping out of a plane? No, someone else can do that. But when I watched the shows, I thought ‘that really does look cool, I could do that.’
It might seem like Fran was acting on a whim, but you’d be wrong. Months and months of research and careful consideration went into her final decision.
I didn’t just say I’m gonna do that tomorrow. I’m not rich and I’m not looking to throw away my money, either—unless I’m in a casino. (laughs) But I started looking at the shows from a
different perspective. I listened to every word they said and saw what they bought and why. I looked at about 40 lockers before I felt comfortable enough that I knew what I was doing. And I gotta tell you, I haven’t lost my money yet.
Scrolling through her Facebook page, there are so many great stories it’s hard to pick just one. But I decided to ask Fran about the most colorful locker she’s won so far: a 10x30 unit she refers to as simply “The Rat Unit”. You can probably infer what she found inside.
Oh my God, the Rat Unit. Yeah, that was interesting. I spent hours, and I mean hours, cleaning everything off, it was disgusting. It wasn’t even the rat poop that got to me, it was the urine! (laughs) I don’t blog about all of my units, but that one was horrible. But I made a lot of money, so I don’t care! I write on my blog for entertainment. I’ll write my losses, and what things cost me, but I don’t usually write my profits, obviously.
How did you come up with the name LadyLocks58?
Hmm, I was just playing around with a lot of names; I didn’t want to come close to any names of the shows or anyone else in the industry. Again, I did a lot of research. I didn’t want to steal anyone’s name because I don’t like when people plagiarize my work. I just tried to do
something different.
Are there more men or more women at the storage auctions you attend? Do you feel like you get treated differently for being a woman?
Way, way more men. I think I intimidate them a little, or they’re surprised. I usually go with my husband, and I mean, he’s into it to support me, but he’s not really into it. I think that when it comes to the bidding, they’re surprised it’s me—not anymore, but in the beginning they were expecting it to be him— so they were blindsided by me.
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But I have a really good rapport with the regulars that I show up with. I get along really well with the typical group, they’re fun people. And we don’t bid each other up, we’ll bid against each other of course, but we won’t bid just to bid and waste each other’s money. “
I’ve heard about your worst locker…but the best locker you’ve bought?
I call it ‘The Vintage Vault”. You have no idea. I’m still selling stuff, still making money off of it. I am so far into the profit zone on this. It only cost me $450, I didn’t need to rent a truck because we have two SUVs, took us three trips, done deal. And every box I opened had vintage
Waterford crystal, vintage china—patterns I never even heard of—expensive clothing from Bloomingdale’s, I mean, really beautiful stuff I’m having trouble parting with. (laughs) But I won’t keep anything I find in a locker.
What prompted me to get this locker was when you opened it up, all you could see were two canes (one had a beautiful handle) and a walker. I knew it was owned by an elderly woman. I remember Alan [from Auction Hunters] said elderly means antique, and I knew I had to have this locker. I wrote him a letter telling him how I used his advice, he was so thrilled!
Fran goes on to tell me that she donates anything she doesn’t use to charity.
I had decided a while ago with all medical equipment I find—there’s a hospice right by my house, so the canes and the walker went over there. There’s also a place called “Whispering Hope” that supports young pregnant women who don’t have support from their families. All the money they make in their boutique gets donated to these girls. I supported my daughter the whole way, but there’s an awful lot of young mothers out there who don’t have support from their families.
I found you through Facebook because you said that you really liked the services Storage Unit Auction List provides. How does our list help you?
I love it. I signed up in March or April, I think, for a couple of reasons. You definitely have exclusives. In my area I’ve definitely found auctions that no one else has had. You verify the auctions, which I like—although you should still call the morning of! (spoken like a true pro, Fran!) I like that you list the amount of units; other companies typically don’t. When I’m going back and forth trying to make my decision, I’ll use that.
To finish the interview, do you have any tips for aspiring hunters?
I tell people all the time, do your research. At the same time, go to auctions without bidding, just go and observe. Register like you’re going to bid, bring money just in case (I always had money with me just in case), and just observe. Don’t jump into buying a locker just to say you bought one, because you’ll never come back. You’ll lose.
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And that’s advice right from the mouth of a pro! Couldn’t have said it better myself.
If you’d like to keep up with LadyLocks58 (which I highly suggest you do), you can find her on Facebook for more fun stories, pictures of her awesome finds, and much more.
UPDATE: Recently, we received an update from Fran regarding her storage auction hunting business and it is very exciting!
“I recently found something I thought was cool in a locker and contacted Pawn Stars. Long story short for now, I was filmed last Tuesday in Vegas with Rick and Corey. What a blast! I will and as always, I got the auction information FROM YOUR LIST!”
Bill Ott
In February of 2013, we got the chance to interview Bill Ott of Distressed Restorations out of Elicott City, Maryland. Bill has years of experience in the resale field and had tons of stories and wisdom to share. Below is the complete interview.
At Storage Unit Auction List we are very lucky to have a loyal fan base of subscribers who are independent business owners and entrepreneurs with great stories to share and who have tons of information on the auction and resale business. Recently, I got the chance to interview one such subscriber, Bill Ott of Distressed Restorations in Elicott City, Maryland. We are thankful anytime one of our subscribers so willingly allows us to pick their brains for insight into the auction world and for tips on making it in the business!
How Long Have You Been in the Auction and Resale Business?
I have been in the business full time for a year and a half. I bought my first locker in July of last
year. Before I started buying units, I spent four to five months attending auctions to see how they worked, who went on a regular basis, what they looked for (before buying), and what to pay attention to before I decided to start buying. At first, I took no money because I didn't want the moment to get to me and to make a stupid decision. I paid attention to what everybody else was doing, what they were paying, what signs to look for inside a unit to see if it had been tampered with or if a unit had been thrown together. I got a lot of valuable information by keeping my mouth shut.
How Many Auctions Do Your Regularly Attend?
My schedule is pretty free and clear. There are quite a few facilities in a 15 mile radius to me. I would say 100 to 150 different facilities. There are a few that aren't the greatest, and a few that are better than others. On average, I attend 10 to 15 a week, depending on the day. There are a lot of facilities that will do caravans. There could be a day when I hit 5 or 6 facilities, and there may be a week where there is only 1 here or there.
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Basically, the crux of my business started out with furniture. I was looking for furniture that I could purchase cheap and upcycle and refurnish. I found out quickly that people liked to buy small things that they could put in their hands and walk away with, and this supplements the main business. Now, I can’t say that there is one specific thing that I’m looking for. I know (now) about what types of different things have profit to them. I wasn't really paying attention to that before. I just saw the two dressers in the unit that were pressed wood and not very valuable and I overlooked the box that said China or Collectibles. I found out rather quickly on my first unit not to dismiss things because they don’t look great.
The first unit I bought was considered a trashy unit by the people at the auction that had been regulars and that I trusted. It wound up going super cheap and I didn't expect to make anything on it, but thought I could spare the $40. It was mostly garbage bags, but there were a few nice pairs of Air Jordans that I made my money back on. I wound up donating lots of clothes, and now I’m kicking myself in the butt! I wound up finding people within my network that I could sell to. I now know a women who sells vintage clothing and I could have sold my stuff to her and made more money! I don’t really throw anything away unless it is trash. There is somebody out there that will buy anything. You just have to find that person.
Do you keep anything you win in auction?
For a long time I collected memorabilia, and Beanie Babies and I still have way too much of it! For the longest time I was paying for a storage unit for all this stuff and I wasn't looking at any of it. I owned it, but I didn't see it or do anything with it and it didn't affect my life. I wasn't going to pay to store this stuff and not do anything with it. I started to sell it. I decided that the only thing I wanted to collect was dead presidents. If it is something that I can use to better my business to make more money, I consider keeping it, aside from that I don’t keep anything else.
You can find a lot of nice stuff. I've seen people store some massively high dollar items and I've seen people pay to store trash. I know if I started keeping things, I would start keeping more and more of what I purchase. While (attending auctions) is fun to do, it is with the intent to make money. So keeping that in mind, if I've paid for a unit, and I've gotten $500 worth of value, I’m selling that stuff. I’m not going to hold on to it. It would be different if I was buying to get collectibles cheaply.
Have you found anything strange, kooky, or wierd in units you've purchased?
I have purchased units where people have stored dry food and had boxes and boxes of cereal, pancake mix, and canned goods. And to look at the labels, they are old and faded and the boxes have been chewed in to. I don’t know a facility out there that doesn't have a rodent issue. I spent how much money on somebody’s pantry?
I have seen a locker, I didn't purchase it, but it was full of garbage bags, and I hung around to talk to the guy that did buy it, and it was all leaves. Somebody had just filled up a unit full of garbage bags full of leaves. One unit I purchased had four garbage bags full of empty cigarette packs.
One of the first auctions I went to, somebody had gone to a unit, and they were doing demolition to their house, and all the scraps of that they put in a storage unit. It was a unit they could get into for a dollar for
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the first month, so they paid, loaded it up, and walked away from it. It was cheaper for them to do that then to take it to the dump and dispose of it.
There is all kinds of strange stuff out there. I found out quickly, as I’m opening boxes, I just don’t go shoving my hands in. You did through stuff gingerly.
Anything like cloth, furniture, clothing, or pillows, a rodent can nest into. If you’re not in a climate controlled unit they will nest and they will burrow into stuff. I’ve shaken dead mice out of things and animal droppings. All that stuff can get you extremely sick and grosses you out!
Sometimes you just have to sit stuff aside and let it air out and dig through it with a stick.
What Was Your best find or the most money you've made?
The easiest unit I had took next to no work. The auctioneer threw up the doors and we found a single wheelchair and a six foot round chair on casters and it had six humongous throw pillows on it. You could just hear everybody’s heart sinking. I saw the wheel chair and I thought, “I can sell that!” The auctioneer asked for a starting bid of $10 and I gave that and at the end of the auction, I started loading up, and somebody came through and offered $125 for it. So I moved it from one spot to another and somebody else took it away and I made my money back right then and there with really no effort. That’s not the unit I've made the most on, but it’s the most profit I made for the amount of energy I put into it. My favorite unit was a 10x15 that wound up having cash and gift cards and I made my money back on those and then made another $900 off of the contents of the unit. There were Macy’s, Nordstrom, Lord and Taylor’s gift cards. The cash was just lying around, here, there and everywhere. The person that owned the unit had taken all the cards from their wedding and thrown into a box and didn't bother to go through any of it.
I learned awhile ago that with greeting cards you have to pull everything out of the envelope and shake them out. It is amazing to see that these people hadn't taken any of the gift cards out of the wedding cards that they had gotten. One of them had a check that had been dated 9 years earlier. They had a good bit of money that they had just shoved in a box, put in a storage unit, and forgotten about. I dig through units looking for this stuff. I now dig through everything. I don’t underestimate anybody. People put the goofiest stuff in storage.
What is your strategy for selling? Do you sell specific items specific ways?
I do, it depends on what the item is and how much cash flow I need to get at a certain time. I’m still building a network of people that sell certain items. I do have a booth at an antique mall. It is in the center of a historic district going through a revitalization and that brings traffic in.
Depending on the item and the market I’m going after I sell on Amazon, Ebay. I sell a ton of DVD’s. I started with my own collection. At a booth at an antique mall, nobody is going in to look for DVDs, so those I sell on Ebay. I've wound up finding people on Craigslist selling DVDS. I pay four cents for recent, popular movies, and turn around and sell them on Ebay for 12 or 13 times that. Then again, I have to pay
