Monday, July 18, 2011

To Be An Auction Hunter

      Going Going Gone!
      Storage facilities generally hold auctions once a month to the general public at each location. Customers whom either could not or chose not to pay their rent lose they're belongings in these auctions. Customers are given a chance to pay and are legally notified prior to the auction that their possessions are up for sale.
      If you plan on becoming an auction hunter/buyer, it's best to call around to the storage facilities and find out the date, time, and number of space to be sold at the auction. I recommend keeping a planner or calender of all the auctions that you plan to follow each month. Get to know the auctioneers and the facility managers. This may help you out in the long run. Always bring cash and never bid more than you have to give on any particular space. You should always have a plan for your purchases. For example, how you will you relocate, sell, and/or discard these items. It's also a great idea to bring a few locks to re-secure any spaces that you buy. When starting out, I think it is best to stop in and observe a few auctions before jumping right in.
      On the day of auction, the lock is cut and the doors are raised for all to see. Prospective buyers are given a brief chance to view what's in the space from the outside of the door. Each unit is sold by the piece or as a whole. The items or space is sold to the highest bidder and they then own it and are free to do as they please.
      Many people are being led to believe that they WILL STRIKE IT RICH being an auction buyer. The truth is that this is a skill and it's a lot harder than people think. It's kind of like gambling but there is a lot of leg work put into this job. You have to have a solid marketing plan for everything that you could possibly find in these spaces. The reason is because you CAN actually find ANY and EVERYTHING! If you plan on competing with the big guys, you have to know when to HOLD THEM and when to FOLD THEM. It may also take muscle and man power. If you buy a space you have a limited amount of time, designated by the facility, to remove every item from the property. You can't take the treasures and leave the trash.
      Now don't get me wrong, you can definitely find some valuable items at these auctions. You have to be consistent and be willing to give it the time that it requires. The more auctions you attend, the more spaces you can buy. The more spaces you buy, the better odds you have of finding valuable treasures. These auctions can lead an ambitious entrepreneur to wealth and profit.
      The contents sold at these auctions generally wind up being resold at online auctions, flea markets, and consignment shops. There is a range of items to be found in these spaces like electronics, tools, antiques,furniture,family heirlooms, collectibles,and sometimes motor vehicles. Most people store their entire household in these spaces. You can find appliances, toys, and clothes. Selling clothes as scrap fabric or online is a profitable solution.
      Auctions are a great way to grow a business, start a business, or cut costs on things that you may be in search of. Whether you are a restaurant owner,carpenter, or just want to start a business from home, auctions can be a great opportunity or investment. Be an observer first and learn the business. Get as much information and product knowledge as you can so you don't overlook value. Grow your connections and resources. When you're ready or just so happen to find that thing that you just can't resist, GO FOR IT before it's GOING GOING GONE!

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