Self Storage Auctions, Steps to getting started

Storage Wars: a reality show on storage auctions
Storage Wars: a reality show on storage auctions | Source

If you’re looking to earn more income, you may want to consider getting into the world of storage auctions. Storage auctions, where items owned by delinquent storage space lessees are auctioned off, provide great opportunities for individuals. To be successful in this new venture, it’s important that you do your homework and learn the basics before you begin bidding in storage auctions.

Storage auctions offer a wide variety of items for sale. The first thing that you’ll have to do then is to decide what kind of items you’d like to focus on. By focusing on just one kind of item, you’ll be able to build your know-how on assessing the value and state of this kind of items. To help you get started, try purchasing and selling smaller-priced items from different categories so you can check and compare how quickly you can resell each of these items.

Always be on the lookout for storage auctions in your area and online. The number of storage auctions that are being conducted each month have been increasing through the years, and you are bound to encounter a lot of good finds if you are always on the ready. You can register with self-storage auction directories and websites to get updates and schedules on storage auctions that are going to be held in your area.

A down side to storage auctions is that in many instances, you won’t be able to get a closer look to thoroughly inspect each item in each box. You should thus guard yourself against bidding too high for an item when you cannot be sure of its quality or condition. You should set a maximum bid for yourself when bidding for items that you have not thoroughly inspected, and always stick to it.

Reselling your items will also require persistence on your part. While you’re still starting out, you may try selling in various venues such as flea markets, internet auction sites, and community fairs. You can even make use of a local free ad service in your area. By exploring all these different venues, you’ll gradually build a name as a specialty reseller.

Now that you’ve learned some of the basics, nothing should stop you from venturing into this money-making opportunity. Start searching for storage auctions in your area and give yourself some real-hand experience.

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rulesforrebels 4 years ago

your local newspaper is a good place to find free uactions those tend to have less crowds than ones listing services give you as well. also lists free auctions for all 50 states. you can also call all the facilities in your area to be put on a list to be notified about upcomming auctions as well.

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