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Treasures for Pennies
I'm going to share with you one of the most profitable things I've ever learned. One of the big ways that I find things to sell on eBay is through storage unit auctions. First, I'll give you a basic overview of what it's all about then I'll share with you the story of how I turned $27.50 into more than $1225.
Here's how it works in a nutshell. The places that rent storage units will auction off units that don't get paid for. If you don't pay for your storage unit, they can put a lien against it and then auction it off the highest bidder.
Where Do You Find the Units?
It's easier than you might think to find a storage unit auction. They're listed in your local paper in the public notice section.
How Does the Auction Work?
The procedures vary from location to location however here are some fairly universal things that you'll find. You have to bid on the whole unit. If you win it, you're responsible for taking everything out of it, even garbage. You won't be allowed inside the unit, you'll have to evaluate it from what you can see at the door. It's kind of a gamble from that side of it. Most places accept cash only, if you want to use something else, you should check with them ahead of time.
What Kinds of Thinks Will You Find in a Storage Unit?
You can find anything and everything in a storage unit. While there are stories of people finding dead bodies in them, most of the time it's household and collectables. You'll find stuff that people thought was valuable enough to pay a monthly fee to keep, and sometimes you won't be able to figure out why.
What to Take When You Go to the First Auction
Flashlight - The bigger the better (the rechargeable spotlights are really nice)
Padlocks - If you buy a unit, you need to put your own lock on it
Cash - You need to take as much as you want to spend
Stories From the Front
I've done well with storage units, however on one occasion I did especially well. I bought a unit that was 10' x 20' x 10' and it was full. None of the other regular people wanted it because it was going to be a pain to unload, so I got it for only $27.50. It really was hard work to unload the unit, but I let that go because of the payday it created for me. The biggest moneymaker I took out of it was a 1967 fender amp. I didn't know much about the amp, so I took lots of pictures. Anytime I don't know what to say in an ad, I take lots of pictures. That old amp coming from a $27 unit sold for more than $1200. Besides that I've sold many other things out of that unit. I estimate I've made more than 2000 from that one unit. Moral: If you're willing to work, storage units are a great opportunity.
I bought another unit that had about 10 boxes and an old couch in it. Anything big and hard to get rid of tends to lower the value of the unit. I bought the unit for $5 because no one else wanted it. I found an old knife on there that sold for about $250, and a mini-snap-on tool case (jewelry case) that sold for more than $150. That's $400 from a $5 investment. Ok, it's not quite that good when you figure in time and gas and all of that, however it's not bad.
The End, Thanks
Justin McWhirter
http://www.infoready.net
I'm going to share with you one of the most profitable things I've ever learned. One of the big ways that I find things to sell on eBay is through storage unit auctions. First, I'll give you a basic overview of what it's all about then I'll share with you the story of how I turned $27.50 into more than $1225.
Here's how it works in a nutshell. The places that rent storage units will auction off units that don't get paid for. If you don't pay for your storage unit, they can put a lien against it and then auction it off the highest bidder.
Where Do You Find the Units?
It's easier than you might think to find a storage unit auction. They're listed in your local paper in the public notice section.
How Does the Auction Work?
The procedures vary from location to location however here are some fairly universal things that you'll find. You have to bid on the whole unit. If you win it, you're responsible for taking everything out of it, even garbage. You won't be allowed inside the unit, you'll have to evaluate it from what you can see at the door. It's kind of a gamble from that side of it. Most places accept cash only, if you want to use something else, you should check with them ahead of time.
What Kinds of Thinks Will You Find in a Storage Unit?
You can find anything and everything in a storage unit. While there are stories of people finding dead bodies in them, most of the time it's household and collectables. You'll find stuff that people thought was valuable enough to pay a monthly fee to keep, and sometimes you won't be able to figure out why.
What to Take When You Go to the First Auction
Flashlight - The bigger the better (the rechargeable spotlights are really nice)
Padlocks - If you buy a unit, you need to put your own lock on it
Cash - You need to take as much as you want to spend
Stories From the Front
I've done well with storage units, however on one occasion I did especially well. I bought a unit that was 10' x 20' x 10' and it was full. None of the other regular people wanted it because it was going to be a pain to unload, so I got it for only $27.50. It really was hard work to unload the unit, but I let that go because of the payday it created for me. The biggest moneymaker I took out of it was a 1967 fender amp. I didn't know much about the amp, so I took lots of pictures. Anytime I don't know what to say in an ad, I take lots of pictures. That old amp coming from a $27 unit sold for more than $1200. Besides that I've sold many other things out of that unit. I estimate I've made more than 2000 from that one unit. Moral: If you're willing to work, storage units are a great opportunity.
I bought another unit that had about 10 boxes and an old couch in it. Anything big and hard to get rid of tends to lower the value of the unit. I bought the unit for $5 because no one else wanted it. I found an old knife on there that sold for about $250, and a mini-snap-on tool case (jewelry case) that sold for more than $150. That's $400 from a $5 investment. Ok, it's not quite that good when you figure in time and gas and all of that, however it's not bad.
The End, Thanks
Justin McWhirter
http://www.infoready.net