You've Just Won a Storage Auction! Now What?

Storage Unit AuctionSo you just won a unit at your very first storage auction, you look inside and immediately you're overwhelmed. They say that 2/3rds of every unit you win is probably going to be trash. Things like old clothes, newspapers, documents, and a lot of unsalable junk will be piled up in boxes or trash bags and the first thing you'll need to do is sort through what is profitable and which losses to cut. Remember to take repairs into account--sometimes a simple repair can still net you profit from a particular item.

Once you've gone through everything you will be responsible for clearing out the entire unit, usually within 24-48 hours. Take note: most facilities will not let you use their dumpsters to throw away your garbage, so make sure you arrange a way to transport and dispose of your junk; usually the local dump will be your best bet. This definitely something that is easier said than done; expect to spend long hours cleaning and sorting, then hauling off all of your garbage to the dump.

Good for you! You've brought the items of value back home with you, and you got rid of all of the junk and the clutter. But you're still left with the task of reselling for profit. Don't worry, this is the fun part! There are tons of ways to go about this, and the more creatively you think, the more opportunities you'll find to see your goods. The most popular way to resell goods, and usually the most accessible, is Entire companies can stay afloat from inventory bought at storage auctions and sold on eBay. Hundreds of people do this every day.

You can also post adds on (Craigslist is great because it's free to list) or in local papers, sell to consignment stores and pawn shops, specialty websites, you can even bring big ticket items to your local auction house. If you found something and are not sure what it is worth, get in appraised (preferably by several professional parties) in order to find the best marketing strategy. Always remember to keep your eyes open so you never miss an opportunity for gain.

Once you get into the swing of this routine and start building your eBay account and professional connections, you'll be on the fast track to success!

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