While we were conducting our monthly warehouse liquidations sales up in Northern California, we had some help in the form of a little competition. In our industrial complex there was another couple who were holding liquidation sales, but they were not selling department store returns. They operated a 3000 square foot warehouse where they would hold what they called Estate Liquidation sales.
My wife and I would visit this operation periodically and we got to know the owner very well. We would even split advertising costs when we had sales on the same day. It worked out for both of our events because we were selling open-box shelf pulls and they were selling used items.
I struck up a conversation with this fellow one day and asked where he was getting all of his merchandise. I was astonished at the crowds his sales would bring and people seemed to be driving away from his parking lot with carloads of items!
He went into detail explaining his merchandise came directly from abandoned storage auctions he would attend. This is where people fall behind on their monthly storage rent and subsequently their contents are auctioned off by the owners of the storage facility to recoup past due rent.
I was intrigued to say the least at this idea as this fellow always had fresh inventory to sell from clothing to furniture and electronics. He explained that most sealed storage auctions ended up selling in the $150 – $300 range. Once the winning bidder is chosen based upon a high bid, the doors are opened and the winner can begin to view the contents. he said at times some of the storage units are filled with junk and there is a lot of garbage to dispose of, but for the most part, contents can be resold at a good profit. This fellow also told me that he makes most of his money on the furniture he finds along with small collectibles items. The smaller items they would resell on eBay, while the larger items like appliances and furniture were sold at his warehouse.
Since then I have spoken with others who attend the storage auction sales and have found that there is a great following of people who are bidding on these sealed storage units ongoing. It seems as though in any one particular area the same people show up at each auction for the chance at finding a goldmine! Most of those attending are small store owners, flea market vendors and eBay resellers.
With today’s economy people unfortunately are not paying storage rental fees and this can give you the opportunity to bid on an entire storage shed filled with assorted merchandise to resell on eBay or at the flea market. Here is a link to give you a jump start in the storage auctioning arena, there are many tips and tricks that you should be well armed with before you attend your first storage auction.
The Liquidators Guide! - 121 pages of purchasing information & liquidation sources in a fact-filled guide that wholesalers and liquidation brokers do not want you to get your hands on! I have been buying and reselling wholesale liquidation merchandise for ten years...and I am going to share my knowledge with you!
NEW - How to Broker Liquidations – Start making money brokering liquidation merchandise! Our newest guide reveals all the steps needed to start a lucrative business brokering customer returns, shelf pulls, and salvage merchandise! Start this business right from home with our 168 Page Guide filled with industry secrets.