How I Started in the Storage Auction Business

I have to admit, that in the past I never went to a thrift shop to purchase anything other than a Halloween costume.

In 2007, I visited a local thrift shop to kill a little time since my girlfriend at the time (my wife now) was having her nails done in the same shopping center. While browsing the 50% OFF isle, a unique beer stein caught my eye. I bought the beer stein for 50 cents. I was pleased with my purchase and thought I would display it at home. Well, my girlfriend wasn’t as enthusiastic as I was. I decided to sell it on eBay with a starting bid of 99 cents. The beer stein sold for well over $600!

I was now hooked on hunting for lost treasures and would regularly go to auction houses, estate sales, thrift shops and yard sales. At the time, I was looking for single items and if I were lucky, I would find one or two good items to resell in a week. I kept the money going from my original sale of the beer stein and continued to roll that into purchasing new items. Within a year, I realized that I had made thousands of dollars off my initial investment of 50 cents and that, I was spending too much time hunting for a couple of items every week.

I thought about going to a storage auction when a friend of mine suggested it, so in 2008, I went to my first live storage auction.

Read More: Reselling Clothing: Best Practices

I was a little skeptical in the beginning, primarily since I had never been to a storage auction. I really did not want to lose the money I had made, so I decided to go a storage auction to observe. I went to a few local storage auctions and learned the process the auction company goes through before the sale by asking the auctioneer and storage facility manager. I also observed the storage auction buyers and what they were looking for or what they were looking at, which would determine how much they would bid.

The following week I attended my first storage auction as a serious buyer. I was comfortable enough with what I had learned to take the next step and buy in bulk. No more wasting time searching for one or two items of value.

I bought my first storage locker for $250 and I have to admit, I was very excited, but also a bit nervous. I was used to dealing with small single items and now, I had a 10’ x 10’ storage unit filled to the top with boxes and miscellaneous items.

My friends, since then I haven’t looked back and continue to buy storage units to this day. My next post will have more on my first storage unit purchase.

Until next time friends!

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Joe has worked in the law enforcement field for over 20 years. Back in 2007, he walked into a local thrift store to browse and found a unique beer stein. Joe bought it for 50 cents and took it home. His girlfriend at the time (wife now), didn’t particularly care for it, so needless to say, it wasn’t going on the mantel. Joe decided to sell it on eBay and that’s when it all started for him. The beer stein sold for over $600 and he was soon hooked!

Joe would regularly go to auction houses, estate sales, thrift shops and yard sales looking for lost treasures. Within a few months he had a side business and a new hobby. He was making a little extra money and having a blast hunting for those hidden gems.

In 2008, Joe went to his first live storage auction and has been buying storage units since then. He started using StorageTreasures just over a year ago. StorageTreasures allows Joe to easily search through multiple auctions in multiple cities and states from the comfort of his home or while on the go with his smart phone. The website also allows Joe to manage his time and storage unit buying more efficiently, which is extremely beneficial to him given his full-time work schedule.

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