MINI STORAGE UNIT AUCTION STRATEGIES
Many people have considered mini storage auctions as a way to earn money. The idea behind it is to purchase the whole contents of a mini storage unit, and then resell the merchandise in order to make a profit. There needs to be a strategy any time you're heading for any type of auction, and a mini storage auction is no different.
Your first strategy is to make sure that the mini storage auction is going to be close enough for you to make a profit. With fuel costs these days, you need to be aware that it's going to cost you money to transport the mini storage contents to your home. This is something that needs to be taken into consideration before you even head for the auction, and transportation can eat up all of your profits very quickly if you have to pay a large fuel bill.
The next strategy is to arrive on time and take advantage of any views you may be able to have of what is inside the actual unit. If you arrive just 10 minutes before the actual auction, you're not going to have time to sign up, or even find a good place to stand. It's important to start out your mini storage auction strategy with enough time to peruse the lot, the auction area, and get signed up as well as ask questions.
By arriving with plenty of time, you'll also be able to ask a few questions. If you arrive just before the auction, or late, when you get there, those conducting the auction are going to be busy and are not going to have time for any of your auction questions. Don't forget, a quick phone call can also allow your questions to be asked, as well as verify that the auction is going on. You'll want to know exactly what the accepted methods of payment are, how the actual auction works, and how soon you have to move everything out of the unit. You may also want to consider renting the storage unit that contains the auction contents, and perhaps negotiate a deal for your first month's rent. This can give you a bit of a cushion of time to either transport the contents of the mini storage unit to your home over several trips, or even auction the contents off on eBay and have the winners pick the items up from the storage unit, thus eliminating the time, expense, and hassle of transporting the items to your home at all.
There may be an opportunity for blind bidding at a mini storage auction. It's important that you set your bid, knowing how much it's going cost to transport the contents, and knowing the risk you take. In other words, you may bid too high blindly on a mini storage auction and find out that there is nothing but garbage in the unit and now you're responsible to dispose of it.
You'll need some basic knowledge in order to make money from your mini storage auction. In other words, you'll need to know what the market is in your area for items such as household appliances, furniture, and even antiques. You'll want to look for those mini storage auctions that are storing items that have namebrand products, or have boxes with clear labels.
Mini storage auctions may be a great way to earn a bit of extra money if you take the time to do your homework and develop a carefully thought-out strategy. The extra time it takes to do some planning will be well worth it when it comes time to place your bid, as you will have the confidence that comes with being prepared to make the most of your auction winnings!
