So, you’ve won your first storage unit at auction, and now you’re faced with the task of trying to sell the contents. The success of a buy-and-sell storage auction business relies heavily on whether or not your can turn the goods. If you are unable to resell the items in a timely manner, you won’t be able to have a successful, lasting business — it’s just that simple. But if you’re able to find a willing buyer, you can sell the items and move on to the next auction.
First and foremost, don’t assume that you’ll find a buyer for each and every item you acquire at a storage auction. In a perfect world, every storage unit would be filled with valuable goods that are ready to be resold, but this is rarely the case. It’s not uncommon for just a typical storage unit to contain just a handful of valuable items. That shouldn’t discourage you from embarking on this venture, however, as these items may fetch significantly more than the total price you paid for the storage unit. You must carefully weigh the total value of the unit’s contents and avoid bidding higher than this amount to come away profitable at storage units.
When you’re standing around waiting to bid on abandoned storage units, try talking with some of the other bidders. Granted, many people are focused strictly on analyzing the units and determining their bid amounts, but others will converse with you. Why is this important? Well, you can build valuable relationships that can prove useful in turning your recently acquired items. You have to remember that many bidders are (or were) in the same boat as you: they need to find buyers for their items. Therefore, it’s safe to assume they know places to resell their items. After winning a storage unit, reach out to some of these contacts to see if they want to purchase any of the items or know someone who does.
Another helpful tip is to consider selling your goods online. Rather than focusing your efforts strictly on local customers and vendors, you can open the doors to a whole new world of possibilities by selling online. Launching your own e-commerce website, for instance, will allow you to sell your items to anyone, anytime, regardless of their location. And best of all, you don’t have to worry about keeping a physical storefront open.