Tag Archives: profit

Another VERY GOOD storage auction question for Scott Asher

Scott – What is going on at the storage auctions? I won a few storage units and I am very disappointed to say the least! I won 2 units – the first for $600.00 and the second unit for $300.00 and all said and done, I think I have lost about $100.00 for my time. — please help, Mary Las Vegas.

Yes with the new storage auction TV shows, it is very competitive bidding at the auction these days. I think people forget, that they are not the only ones watching TV.

Is there money still to be made? I think so, but this will be money found. The market is tight almost everywhere, even in second hand goods, and with storage auctions reaching the main stream, the prospects of making money has brought people out of the woodworks to bid!

Scott’s sneaky selling tip –

When buying many units, I found myself with an abundance of items like… dishes, VCR s, toasters, DVDs, mostly 1-5 dollar run-of-the-mill items. These are difficult to list on the web one at a time. To turn these into hundred dollar items, sometimes I would make what I would call “Home starter kits”. I would gather 10-25 items into packages that people living in the budget suites or maybe have recently relocated to the Las Vegas could use. For example: I would get full set of dishes, DVD or VCR with 10 dvds, blender, toaster, and sell this for-like $129.00.

Who goes to storage auctions?

When I first heard about storage auctions was in the early 90’s. It wasn’t until the late 90’s when I decided to buy storage units and selling the items I won for profit. During my storage auction buying experience I would come a cross this subculture group of people who are small store owners, enthusiastic local garage yard sellers, flea market sellers, eBay sellers or just a casual buyer for personal gain. I have learned over the years that the competitors comes from all walks of life and sometimes will work in teams. For the most part,  they are usually experience storage hunters looking for the best storages to sell for a high profit. Now that storage auctions has risen in an all time high of popularity due to being televised. It will be interesting to see the explosion of competition one will experience in buying storage units for a profit.

Everyone is in it for the money. For the first time buyer or the causal buyer be sure to study your crowd, get familiar with who’s around you to give you the optimal bidding experience.