Storage Units Auctions - Buying Abandoned Assets For E-Biz Profit

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Storage Unit Auctions: Unlocking E-Biz Profit from Abandoned Assets


Overview

Storage facilities frequently auction off abandoned items to recover some of their losses. Many online entrepreneurs are seizing this opportunity to source products for their e-businesses. As Blaine Herbst, founder of StorageAuctionSecrets.com, points out, you can often acquire a storage unit full of items for just a few hundred dollars. Discovering these auctions is straightforward?"simply check resources like the yellow pages under "storage units" or visit websites like AuctionZip.com and StorageAuctions.org for local auction details.

Key Considerations


Important Questions to Ask

Before participating in an auction, ensure you're aware of any associated costs, such as attendance fees or cleaning deposits. Inquire about buyer’s premiums, typically 5-10% of the total price, which goes to the auctioneer. It's also crucial to check if there's a Pending Owner’s Approval clause, which allows the facility owner to decide on sales post-auction. Avoid wasting time on sellers who might not be committed.

Assessing Value

Typically, storage unit auctions involve selling everything in a unit for one price. While bidders can view contents from the doorway, they cannot touch anything. Here are some strategies to assess value:

- Location Insights: Items are often stored close to their owner's home. Units in upscale areas might contain higher-end items.
- Box Clues: Look for moving company boxes, as their use suggests valuable contents.
- Furniture Quality: Assess the condition and quality of any visible furniture. A cordless spotlight can help you see into the unit’s depths.

Essential Preparation


What to Bring

- Cash: Auctions usually only accept cash payments.
- Transportation: Have a truck or trailer ready to clear the unit on the same day.
- Security: Bring a lock to secure the unit if you need to leave temporarily.
- Tools and Materials: Equip yourself with a dolly, tarps, bungee cords, and blankets to move and protect items.
- Protection Gear: Gloves and a mask are recommended due to dust.
- Tax ID: Carry your tax ID to avoid paying taxes on purchases, if applicable.

Storage unit auctions offer a unique opportunity to purchase items at a fraction of their true value. This allows you to set competitive prices and achieve significant profit margins in your e-business.

You can find the original non-AI version of this article here: Storage Units Auctions - Buying Abandoned Assets For E-Biz Profit.

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