There are a lot of means to earn money and storage auction is one of them. For business minded people, storage auctions have a strong potential to earn profit. Basically, this form of business comes from buying abandoned luggage and sells them through online auctions on higher prices. As simple as that and you will be able to generate substantial amount of income. You only need to have the willingness and patience. As such, here are ways to help you get started to get into storage auction business.
The very first thing you need to do if you would like to start online or onsite auctions is to do research. Basically, the things that you need to search for are the stores or shops where you can buy abandoned luggage, the current pricing in the market, and the necessary market or platform to sell them.
Attend Storage Wars
Every year, there are millions of items that are dumped into the storage facilities and abandoned or forgotten. Hence, you must be able to go a storage war to see how the auction works. If you have the capital, you certainly will be able to get sufficient number of items. But it is still advisable to be very careful on raising your bid and make sure that you are aiming for the right item.
Estimate and set a max
Once an item has been shown to the possible buyers, the very first thing that you need to do is to estimate wisely the value of it. Consequently, raise your bid. Expect that there will always be someone who will fight for your bid. You can compete on the bidding but set your maximum bid to avoid any loss. Always remember that anything on the auction has its value.