Getting started as a storage auction buyer is easy. Costs are small; anyone with a few hundred dollars, transportation and a place to take the purchased goods can become an auction buyer. Stories of success are many, and equally diverse. One profitable buyer claims to have funded their initial auction purchase by having a garage sale in their front yard. Another auction buyer had experience selling on EBay and made the decision to expand into the storage auctions arena to secure another profit stream. Sometimes you can market some of the contents to other treasure hunters.
Once you have your cash reserve in hand, check out auction listings in your area. In major metropolitan communities storage auctioneers often schedule auctions at numerous facilities for the same day. Do not buy at your first auction visit. Now, we do not want you to lose out on the storage treasure of a lifetime, but it is suggested to observe auctions before your participate. Check out the competitors, and how they behave. Familiarize yourself with how the auctioneer works. Determine if you are comfortable in the bidding setting. Does the system match with your personal style and do you believe you have the skills to operate as a independent home-based business person able to buy at auction and turn around and resell the items producing a profit?
Think about developing your knowledge of resale prices for a wide variety of products. Your revenue will soar when can spot the difference between an average and a high quality used lawnmower or know the value of a set of Limoges china relative the value of a set of china by Noritake. If the storage unit you purchase at auction contains large cardboard boxes full of Gucci leather goods. You want your eye trained to know the difference between the real deal and a forgery. To maximize your profits as an storage auction buyer you will want to possess a working knowledge of such items as electronics, appliances, furniture, antiques and collectables.
It is further advisable to put one foot in the water first before leaping in all the way. In other words, start small, with a minimum initial bid. Take it one auction at a time, making a strategy to grow your business. Perhaps most importantly, be practical and do not fool yourself into believing that every auction will produce valuable treasures. There will be duds, however, there will also be significant and profitable discoveries. Be patient and consistent in your plan to discover treasure.
To recap: follow these steps. Visit, observe, evaluate, make a plan, decide to buy and bid.