Chapter 1: What Kind of Buyer Are You
This guide is divided into sections based on our unique profiling system. The first step in the system is figuring out what kind of buyer you are. The storage auction world is full of people who are buying lockers for different reasons. By knowing which type of buyer you are, you will be one step ahead of the game and ahead of your competitors. Remember, although we list three types of buyers, these are not hard and fast rules. You may find you fit into a combination, or that you start off as a treasure hunter and end up as a store owner. We advise you to keep an open mind and be open to opportunities. It’s easy to get side tracked and end up wasting money. When you know what type of buyer you are, you’ll know which lockers have your forgotten riches.
The Treasure Hunter
Are you an antique aficionado? Do you like to gamble and take risks? Are you looking for a big score? Then read on, you might be a treasure hunter.
- looking for that “wow” factor
- does not have the ability to turn over large quantities of items
- has a good knowledge of antiques
- is willing to risk money on a locker for one good find
- a gamble as opposed to staid and steady
- doesn’t need to attend all auctionsResellerAre you good at spotting a deal? Are you able to quickly scan a group of items and quickly estimate it’s value? Have you sold items on eBay or Craigslist before? Then you’re a reseller!
- focuses on the overall value of the unit
- has the ability to store some items until sold
- is looking for a large volume of good quality items to turn over for profit
- comfortable selling items on EBay, Craigslist, and other ways
- good knowledge of resale values
- has a truck or large vehicle or move items, or willing to rent one
- can be a steady source of incomeStore OwnerA store owner doesn’t actually have to own a physical store, but they do need to have the ability to store a large number of items, and be able to find a buyer for almost anything. You have abundant patience,
as the store owner really makes their money in quantity over quality.
- owns a space where they can stock and resell lots of items and can wait for them to sell
- needs a large amount of new items to resell to keep inventory moving
- must keep bids low because of overhead costs
- has the ability to fix up items to sell
- is reliant on this as income
- doesn’t want to miss too many auctionsNow that you have an idea about what type of seller you are, or would like to be, let’s move onto how to find storage locker auctions near you.
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