How to Make Money at Storage Auctions
When an individual fails to come to retrieve their stuff in storage, or no longer makes payments, the storage unit will be auctioned off. You can earn quite a bit of good money by bidding on a storage unit. If the storage unit is full of valuables, it can be worth a whole lot more than you originally paid for it.
- Search for storage auctions being held in and around your area. You can perform a Google search or speak to local antique stores who may frequent these events.
- Sign up to participate in the auction.
- Have plenty of cash on hand, as you will usually need to pay for the storage unit upfront in cash. Set a top price that you are comfortable spending and only have that amount on you.
- Bring someone along with you to help you sort through the storage unit.
- Bid on the storage unit that you think will be most profitable. At most auctions, you will be able to sneak a quick peak at what is inside of the storage unit and decide whether or not to bid on it. You may end up bidding on a unit against other people.
- Search through the storage unit after you have won the auction for that specific unit.
- Have someone help you move any of the heavier items and load them into your car or truck.
- Sort through the items. If you are not sure how much an item is worth, you can try to find out how much it is worth online or at certain stores.
- Sell antique items to different shops in and around the area.
- Sell some of the items in your storage unit on websites such as eBay and craigslist.
- Go to several flea markets to sell the rest of the items from the storage unit. You may also consider hosting a yard sale to make a profit on any lower valued knick knacks. If you have any unsold items, you may want to hold onto them for future sales.