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You: A Storage Unit eBay Auction Money Maker
Use the information in this article to help build your eBay business.
Have you ever wondered what happens to all the “stuff” abandoned in storage rental units?
Storage companies are in the business of renting space to people like you and I, but occasionally people move, lose interest, or are unable to make the monthly rental payments. Following strict legal guidelines, the storage space owner eventually resorts to selling the contents of abandoned units at auction, often at incredible discounts relative tot the content’s value.
Several years ago I came across a storage unit auction by accident.
Curious, I registered and joined the small group of people following the auctioneer from unit to unit. At one unit the owner cut the lock off the door and revealed a space crammed with restaurant equipment from a closed pizzeria. I purchased a box full of restaurant quality dishes (which my family used for years) for about two dollars. When all the small items were gone, the storage unit owner was left with a large pizza oven, obviously worth several thousand dollars.
The auctioneer could not get a single bid on this item due to its size and eventually offered to pay anyone in the crowd to haul it away. I didn’t have the resources to move or store a huge pizza oven, so I walked away from it.
These kind of auctions happen everyday across America. If you are alert to auction announcements and have a plan for reselling the goods you buy on eBay, this could be a potential moneymaker.
According to recent statistics there are an estimated 100,000 storage units being auctioned off every month across America. This represents a huge bonanza of below wholesale goods that you could sell at yard sales, flea markets, and of course, Ebay. To find out about auctions, simply grab your Yellow Pages and start calling the units in your area.
I can really think of only two negatives associated with storage unit auctions.
First, some auctions require you to purchase the contents of a unit sight unseen. That is, the storage unit owner starts bidding at a price close to the back rent due on the unit, and hopes to create a bidding frenzy, based on the unknown and anticipation of a possible treasure chest of goods behind the door. Keep in mind that people have abandoned these goods, so their value may be in question right there.
My second concern is your ability to resell the goods you purchase. Remember, you are doing this to create income, not stuff your garage with unwanted knick-knacks. Bid carefully, and enjoy yourself—business should not always be sheer drudgery.
In my opinion, storage unit auctions are one of the most exciting business opportunities out there for low cash investment requirements and quick payoff. Also, it’s a great way to spend a Saturday morning.
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