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How to Earn Extra Money with Self-Storage Auctions

By Edited Oct 20, 2015 1 1

Make Money with Self-Storage Auctions

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You've heard of people who sell scrap metal and scrap gold for cash, but would you like some tips on how to earn extra money with self-storage auctions? If you're like most people, you likely welcome ideas on ways to earn extra money. A self-storage auction takes place when clients fail to pay their monthly rental fee on their self-storage units. The storage company often hires the services of an auctioneer to auction off the contents to recoup some of its costs. If you would like to earn extra money, why not give self-storage auctions a try?

Find self-storage auctions near you. To earn extra money with storage auctions, enter the term "self-storage auctions" in your browser of choice followed by the name of your city. The search results will include a list of auctioneers in your area. The auctioneer's website generally contains the date, time and location of each scheduled auction. You will also find the name of the self-storage company holding the auction and its contact number. It's a good idea to call the storage company on the day of the auction to make sure that it will take place. Occasionally, the content's owner might wait till the last minute to pay the overdue rent. When this occurs, the storage company takes the unit off the list and cancels the auction.

Arrive early to the self-storage auction site. You will likely need to sign in. Be prepared to pay cash. Unless you have a valid resellers' permit, you will need to pay sales tax in addition to your bid amount. Additionally, you will also need to present a valid ID.

Know what to expect at a self-storage auction. When it's time for the auction to start, the auctioneer and the attendees will walk from unit to unit. The auctioneer will open the first unit and give potential bidders an opportunity to view the contents from the entrance; you cannot walk through the unit. Once everyone has viewed the contents, after about a few minutes - depending on the group size, the bidding process starts. The highest bidder takes all the contents in the unit. The winner generally has up to 48 hours to remove the contents and sweep the unit. You have to take everything in the unit, including any junk. Keep any items that you can resell to make fast money, and dispose properly of the trash.

You will find that the number of persons attending an auction often varies. The less persons attending an auction the less competition you have. Some auction enthusiasts look for antiques, others frequent auctions in search of tools, collectibles or anything that they can sell to make money fast. Some self-storage auctions take place on Saturday morning, so if you work full-time during the week, you can still earn extra money through self-storage auctions.

Resell the contents and earn extra money through self-storage auctions. You can implement one or all of the suggestions below to market your items.

  • List your items for sale on sites such as Craigslist, eBay or Amazon.
  • Have a garage/yard sale to help you make money fast.
  • Build a website and open an online store. Post pictures of your items along with a brief description. Update your site regularly so people don't get discouraged and stop visiting your site.
  • Open a thrift/resell shop.
  • Apply for a resellers' permit with your state Comptroller's Office. Typically, it's illegal to operate a reselling business without a license. Your Comptroller's Office can inform you of any other applicable or required permits in your state.

In conclusion, it's possible to earn extra money with self-storage auctions. If you have never attended an auction before, it's a good idea to start by attending as an observer. You may need to attend multiple auctions before you feel comfortable bidding. Take your time and don't rush. Self-storage auctions are open to the public. As long as you have cash and a valid ID, you can bid on a unit. If you would like to earn extra money, why not consider self-storage auctions as an option?


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Dec 1, 2010 3:09pm
I had never heard of this concept until reading your articles - very interesting. If the IB thing doesn't work out I know I'll have options :)
Dec 1, 2010 9:30pm
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