Dave Espino’s Gameplan For Storage Auction Success

Dave Espino’s Gameplan For Storage Auction SuccessStorage auctions have been a huge hit on TV lately. (with the A&E show, Storage Wars racking up over 3.8 million viewers. And now there are two more TV shows about Storage Unit Auctions – Auction Hunters and Storage Hunters.)

But as much fun as it seems (and it is!) to bid on and buy a storage unit, you’ve got to understand that, in order to do it right, you have to be prepared to sell a mass amount of “stuff” – stuff of all kinds!

Now, in the old days, the storage auction buyer was limited because (unless they owned a store) they could only take the stuff to a swap meet or conduct a yard sale in their front yard.

But today, with eBay, Amazon and Craigslist, the opportunities to mass-sell items have never been better!

So, allow me to list some of the steps I would take if I wanted to really build this side of my eBay business to a high level.

(I believe you will find these steps to be instructive – whether you decide to follow them or not)

  1. I would post advertisements at local colleges for a part-time “eBay Apprentice”. I would interview and eventually hire two people for this job. Their job would be to photograph, list, ship and handle customer service for my Storage Unit resale business. In essence, I would train them to do everything I would normally do to sell a ton of these items on eBay / Craigslist and, in the meantime, they will be learning the business while acquiring an awesome new money-making skill!
  1. I would have cleared out my warehouse and gotten it ready for a maximum flow of items and merchandise that would be coming in and going out of this location.
  1. I would also invest in two new computers to be used by my new “eBay listers” to do their work.

You see, when the work of finding a never-ending supply of products to sell is not a challenge anymore, it is then very easy to duplicate yourself by training a college student to do the listing and shipping for you!

The idea here is that I will now be able to do the “easy” and “fun” part of the Storage Auction resale business and will have someone else do the listings and shipping!

If you have ever purchased a Storage Unit, then you know how much fun it can be.

First, you have the adrenaline rush of bidding on and winning the contents of the Storage Unit, usually in a live auction conducted by a licensed auctioneer.

Then, once you win the auction and the contents of the unit are all yours, you now have the incredible fun of searching the unit to see what types of goodies are in there!

You will find things that are obvious money-makers, right off the bat.

Then, you will also find things that appeal to you and items you want but have never purchased.

You will also find more common, household items that will still sell on eBay at decent amounts and then, of course, you may also find a percentage of the stuff that you will just have to donate to Goodwill or throw away.

(This is the fun part for me, searching through a roomful of goodies and sifting the money makers from the rest of the stuff.)

It is such an interesting and exciting part of the business – I hope you can get a taste of it for yourself!
Hold Everything!

In any case, here’s an important point I want to make…

I only give you my example of how I will tackle the storage auction business as a way to help you think about the potential of this business model!

It is important for you to see how YOU can implement this business model as a beginner and not get turned off by how a seasoned eBay seller is doing it.

The awesome thing about Storage Unit Auctions is that you can play the game at whatever level you wish!

You can buy smaller storage units for between $5 and $100 and turn that investment into more money, thus building your “investment kitty” up with consecutive purchases. (and growing your business little by little!)

For example, one of the storage units I bought was a small unit that I paid $125 for.

In that unit, I found vinyl records, (in that group there was one rare one which sold for $125) wheels for a BMW, vintage Credit Cards (also collectible) and more. I ended up selling the contents for $625. So, you really can start off with just a little over 100 bucks!

If you do not have a place to store the stuff that you buy, often you can just rent the same storage unit directly from the Storage company, right on the spot and this way you do not have to move any of the items – in many cases, you could literally sell some of the larger items directly from the Storage Unit! (check with your storage facility to see if they allow this – not all do)

 

Don’t have the resources to hire someone? How about hiring an intern?

Many young people will work for the experience and the ability to put that work experience on a resume. It’s a great way for them to get started in life and to build up their resume!

You could also hire a high school or college student on a commission basis – in this case, they would get a percentage of everything they sell on eBay for you!

You can try a 20%, 30% or even 40% commission, depending on how generous you feel.

In this way, you only pay that person when an item actually sells and when you actually receive the money, so the money you pay comes straight out of the profits you make!

There are a lot of ways to approach this business and most of them do not cost money to do so.

I just want to encourage you to try this approach.

At the risk of sounding like a broken record, (I know, I know, I’m always talking about Storage Auctions) I only recommend this source as my favorite source because I know it has the greatest potential of all the approaches that I’ve personally tried.

If you’d like to learn more about Storage Auctions, you should definitely check out my new video course.

It’s called “Insider Secrets To Making Money With Storage Auctions” and you can find it by clicking here.

Storage Wars Review – Can You Make Big Money With Storage Auctions?

Storage Wars, (the new reality-show about four modern-day treasure hunters who buy the contents of abandoned storage units at auction) made it’s debut last night on A & E and I was impressed by how the TV show portrayed the storage auction business.

Although Storage Wars is a 30-minute show, (just like its competitor “Auction Hunters” on Spike TV) the debut show seemed to pack more quality content into those 30 minutes than Auction Hunters does.

I’ve been buying storage units for about 11 years now and I like the way Storage Wars shows people actually working – emptying out storage units, moving large furniture, sorting through things to find the valuable items, etc.

It also shows that to be in “the game” in a serious way – to make the really big money – you need to be set up in assembly-line fashion to be able to process the sheer volume of stuff you’re going to get when you win a few of these auctions!

Storage Wars is a more diversified show, too. It showcases 4 different people who are involved in the storage auction “game” and really has a chance to show the different personalities of each.

This is a good thing because it allows for the audience to relate to these treasure hunters in a variety of different ways.

In this debut episode, we get to meet the individual players and see their bidding strategy, how they bid (or don’t) and also learn a little bit about their colorful personalities. One of the treasure hunters, Darrell Sheets, shares his story of buying a unit that contained over a hundred thousand dollars worth of comic books. If you’re watching closely, you will also pick up some great storage auction tips and tricks from the top dogs themselves!

Dan Dotson, the auctioneer, (whose wife Laura is also in the show) is an affable guy who won’t hesitate to tell you about the many storage units he’s found (or that he’s heard of) and the many treasures that lie there, waiting for someone to bid on them and re-discover them.

I’ve actually met Dan and had a chance to speak with him at a few of the auctions I attended in Southern California early on and can vouch for him – he’s a really nice guy.

So, as much as I like Auction Hunters (I really like the excitement of the great finds and the personalities of Allan and Ton) I am going to have to say that Storage Wars is a better show because it has a little more variety and also shows more of the reality of the storage auction game.

It shows people winning at storage auctions and people losing at storage auctions and that’s a heck of a lot more realistic than only showing the “wins”.

Even though Auction Hunters clearly describes the fact that they are showcasing some of the duo’s best finds, in light of the Storage Wars show, because it only shows the wins, it seems just a little more contrived than Storage Wars.

Either way, I am excited to see ALL of these modern-day treasure hunters being portrayed on TV – I’ve always thought of storage unit auctions as one of the last great treasure hunts available to eBay sellers and now it’s being shown on TV.

By the way, if watching these shows has gotten your treasure hunting adrenaline going, be sure to check out my new storage auctions video course called “Insider Secrets To Making Money With Storage Auctions”.

Dave Espino's "Insider Secrets To Making Money With Storage Auctions"

In it, I show you a step by step gameplan for success and show you exactly how to make money with Storage Auctions as well as several other exciting strategies!

Auction Hunters Debut – Make Money With Storage Auctions? Oh Yeah!

The new show Auction Hunters debuted on Spike TV on Tuesday.

The show follows two Auction Hunters, Allen and “Ton” through their adventures in buying storage units at auction. (Most state laws require that the contents of abandoned storage units be auctioned off – usually according to State lien sale laws)

I’ve been teaching about (and buying) storage auctions for about 11 years, so it was a lot of fun to see this modern-day treasure hunting technique explained and showcased.

(Most of the people who buy storage auctions for a living are not happy about this show. The storage auction “buyers community” is a tight-knit group and they do not like competition – or new blood coming in to possibly “steal” their units)

In this debut episode, the auction hunters end up going to a Los Angeles storage unit auction that is indoors.

Allen says that, when items are stored in a “climate-controlled” facility it means that the people cared more for their items than if they were stored in a traditional outdoor facility.

One of the units being auctioned had its items all shrink-wrapped. Allen said that this could mean those items were professionally moved and if the people paid for professional movers, then the stuff could be good.

The other comment was “Shrink wrapped items are WORTH being shrink wrapped”.

So the pair begin to strategize about how much they are willing to pay. The key, they say, is to determine your top price and never veer from that.

When I go to storage auctions, I do the same thing. I size up the value of the items that I CAN see and divide that dollar number in half.

I don’t ever go above that number (since you can really only bid on what you can see, anything else is pure speculation) and the bottom line is, this should never be seen as gambling… it’s a business.

At this Los Angeles location, the Auction Hunters spot 8 heavy duty sewing machines which they estimate to be worth about $300 each. So they bid on that unit and win it at $1,150.

The shrink wrap unit ends up being theirs for $850.

In the end, they end up selling several items for a total of $5,850 (on an investment of $2,025) for a profit of $3,825.

While that’s not a bad profit, (188%) I like to aim for higher percentage profits.

How do I do it? Simple, I don’t buy as many units and I am very careful with the units I do bid on. Sometimes I will go to a whole day of storage auctions without buying a unit because they just don’t have the value that I’m looking for.

When looking at the unit, something has to grab me to make a bid or I just walk away.

I teach you a lot more about my strategies for making money with storage auctions in my new Storage Auctions Video Course located here: http://howtomakemoneywithstorageauctions.com