Storage Auction Tips: Valuating Collectibles
Learning how to accurate valuate collectibles in the buy-sell storage auction business. Some items you'll come across have an obvious monetary value, but others are more difficult to determine. This is particularly true in the case of collectibles like vintage baseball cards, autographed memorabilia, dolls, coins, etc. So, how do you know what these collectibles are worth?
Before we begin, it's important to note that the value of a collectible (or any items for that matter) is subjective, meaning it's worth that somewhat will pay for it. A bottle of water, for instance, may only be worth $2 bucks at the convenience store, but if you offered it to a person stranded on a remote island, he or she may give their life savings for it. This is why it's critical that you sell your collectibles to the right audience -- people whom are interested in the collectible, with a strong desire to own it.
One of the easiest and most effective ways to valuable collectibles is to search for similar listings on eBay. Being that it's the world's largest and most popular online auction platform, you can find just about any collectible here. When you stumble upon an item in a self-storage unit that you would like to sell, first check to see other users are selling it on eBay. Remember, just because someone has the item listed for a particular price doesn't necessarily mean that it will sell for that price. A better approach is to look for auctions with active bids, as this indicates that people are willing to pay at least that amount for the item.
Another way to valuate collectibles is to seek an industry expert's opinion. For instance, if you come across an old Barbie doll that you'd like to sell, try reaching out to someone who's been collecting and dealing vintage dolls. Because they have first-hand knowledge of vintage dolls, they should be able to give an accurate valuation of your new doll.
Some people assume that pawn shops are the best place to valuate collectibles, but this isn't necessarily true. While some pawn shops may have select knowledge on certain items, it's doubtful that you'll get an accurate answer. And furthermore, it's in their best interest to offer you the lowest price, meaning they will probably valuate your item lower than what it's actually worth.