When attending storage auctions, it’s important for bidders to always be on the lookout for valuable items. Normally, when an item is used — the case for most items found at storage auctions — it depreciates in value, meaning it’s no longer worth its original selling price. However, there are some items that hold their value more so than others, and these are items that you’ll want to keep a close eye for.
Weights and Gym Equipment
People are always on the lookout to purchase used gym equipment, and for good reason: it works just as well as new equipment. It’s not uncommon for used dumbbells, plate weights, kettlebells, and other exercise weights to sell for 80% of their original value, which is a pretty good retention rate to say the least. So if you come across a self-storage unit containing used weights, be sure to adjust your bids accordingly. Passing up an offer like this could mean money lost — and that’s not the right way to run a buy-sell storage auction business!
Another used item that you should keep an eye out for is musical instruments. This includes electric guitars, acoustics, drums, bass guitars, as well as other instruments like clarinets, saxophones, etc. Much like the aforementioned gym equipment, musical instruments tend to hold their value, even after years of use. This doesn’t necessarily mean that you’ll get the full 100% MSRP for a used guitar, but it will still be higher than most other used items, making it an attractive item for people in the storage auction business.
Tools are yet another high-dollar used item that are commonly found at storage auctions. Whether it’s a power drill, skill saw, chainsaw, or jackhammer, tools are always in high demand, which usually means they retain their value. Keep in mind, however, that if a tool is broken and/or damaged, it’s not going to yield the same selling value as a tool that functions as intended. So before you sell them, take a few minutes to check and make sure they work first.
Items that Don’t Hold Their Value
Of course, there are some items that you’ll come across which do NOT hold their value. These items generally include electronic devices like televisions, computers, monitors, and smartphones. I wouldn’t go tossing these items in the trash, but don’t expect to sell them for top dollar, especially if they are several years old.