Tag Archives: craigslist

What’s up with Las Vegas Storage Unit Auctions?

Question:

Scotty Boy, I was at a storage unit auction in Las Vegas and I couldn’t believe what people were paying for the stuff.  What is going on with this craziness?

James B., Las Vegas

Answer:

James, I was in town for the storage unit auction last week you’re referring to and I agree that there is some craziness going on here.  What I saw were a bunch of laptards, desperate for merchandise, willing to pay anything to give themselves work.  That first storage unit auctioned off for $750 absolutely blew my mind.  There’s no way, in my opinion that unit full of junk could have been a profitable purchase at that amount.  In fact, everything sold at that particular auction was sold too high.  As a professional buyer, I just watch and walk away from such situations.  It appears, at least at the moment that the gig is up in the Las Vegas Storage Unit Auction game.   So it’s time to move to plan B.

Plan B:  There are still many buying opportunities out there that you can be looking at – it just takes more effort on your part to find them.  Try looking over the collectibles for sale on craigslist.  When you see something that strikes your fancy, check the completed listings on ebay.  What you’re looking for is a high percentage of listed items closing and an average amount per sale.  When you find something that looks like a winner on ebay, go back to craigslist and start making low-ball offers on the ads.  If you’re persistent enough with this, you will get merchandise and be able to make a profit on ebay.  Also, get back on a garage sale circuit.  Stay away from the pro garage sale and stick with the people who just want to clear out stuff so that they can go buy more stuff.  There are many fantastic bargains waiting for ebay sellers at garage sales.  In time, the las vegas storage unit auction circuit will thin out.  The laptards that are overpaying will go out of business and you can get sheds full of great stuff cheap perhaps.  But you can’t put all your eggs in one basket so being in an opportunistic business, you have to go where the opportunities are.

Thanks for the great question – I hope this answer helps.

Scott Asher

Email question about investing in storage units at auction

An email question I received, about buying storage units in Las Vegas.

First, I wanted to thank you for your awesome website!! The hubby and I were thinking of maybe buying a storage unit or two. We have been doing other sales on craigslist, but wanted to see if we can step it up a notch. I read your scammers beware part and we were thinking the same thing so were a little scared to get out there with our hard earned mu-la. I wanted to see if you happen to know if any companies that you have dealt with that you think we should stay away from? I know there is times when we have learned a lesson the hard way and I always share with friends when I do. We have five kids so we have plenty of crap of our own to sell all the time but with buying a storage unit here and there we are hoping to buy a house in this down market. Any help much appreciated. We will be heading out to the first auction this Saturday that I found in the announcements. Thanks for the link and tutorial.  –Sarah, Las Vegas

First off I would like to Thank you for your question.

Buying storage’s units is overall very safe venture, most of the time its only a few hundred dollars at risk. Storage units can go for almost anything, but bidding on what you can see is a money saving statement. The best way to look at it, is like this… At the time of bidding, if you where 100% ready to pay for what you could physically see inside the storage unit, “most of the time” there is not going to be a problem. It is when I here of someone overpaying when they see a big screen TV, or something they believe to be a “goldmine” is when you run into a problem. Gamble at your own risk.

I have been burned buy storage units, but the bottom-line is, it has only amounted to a few hundred dollars loss. I know the market for buying storage units is very competitive with it coming to TV.

My best advise is to: sit back and wait, your unit is coming up!

Fun Facts: Here is a list of items that are only worth about half of what you think they are worth.

  • TVs
  • Computers
  • Laptops
  • DVDs

Her Reply:

Sounds good! We do Dave Ramsey financial peace so Im very very patient 🙂 I have an eye for stuff my husband at first thought I was nutty but when he went a couple weeks with me not selling and saw how much I was bringing in selling on craigslist he jumped on board. We will be heading to our first storage auction tomorrow it should be interesting. We will probably just watch to see how it all works. I have to say I love the selling boxes idea I laughed today when I saw some in the dumpster behind Walgreen’s. I’m pissed about the storage wars thing and coupon thing on tlc I do both of those grrr.

Selling auction goods on Craigslist – 100% free eBook

While I was buying storage units at auction, I told a friend of mine what I was doing. Jeff was excited about the  project and started buying his own storage units almost immediately. After a few months we worked on a book about selling stuff on Craigslist and had plans of making a website to sell it.

I don’t personally want to speak for Jeff success, but I think I can safely say neither one of us made a million selling on Craigslist. We did however have some short-term success, an some very interesting results and decided to write a book about it.

Jeff McCune esq. a God-Damn Uber-Genius, and  “ME” owner of this website “Scott Asher”, venture capital entrepreneur celebrated for three days on a book we at one time hope to sell on a website I was making.  About how to make money selling on almost anything on Craigslist. Here it is for free, for your viewing pleasure.

How I Made A Million on Craigslist