AUCTION HELP?

[TreasureHunters]

ok, so I have a local auction that is packed once a week, they sell everything and I MEAN everything, the lowest they will take is $2 for choice, sometimes for the whole pile.,My question is, is it worth it to buy the lots and then go through them to pick out any goods and take the rest back? Some frown upon this but I have done it before and they do not care as they are making $$ again. So what should I look for? Any tips of fellow auctioniees? Thanks

 

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[2Minnesota]

Maybe you should get there a couple hrs early and go through the boxes first. That would give you an idea if its worth the $2 bid.

 

[vpnavy]

I agree with 2Minnesota - get their early and go through the boxes. If you conern is returning what you don't want - maybe consider donating the stuff to your local Goodwill. Anyway, that is my suggestion and no ones listens to me anyway!

 

[clovis97]

We buy large lots like that at our local auction house too.

We trash out the boxes, literally, with two trash cans standing by our sides, then pull out the ebay stuff, and flea market the rest. I try to leave as much of the trash that I can at the auction house.

 

[kevin hoffman]

we used to work auctions always check pockets if there are clothes , you would not believe the stuff we have gotten,and what you do after that is your buisness, try repacking to make them more appealing !

 

[allen]

I agree with the rest, get there early and check the box lots out for the things that you can resell for a profit.

 

[TreasureHunters]

Thanks all

 

[Generic_Lad]

Depends.

I've had good luck buying flats of costume jewellery, if you buy it cheap enough, even a 14K earring back might pay for the entire lot.

Art is usually a pretty good seller, same with vintage postcards/photos if you can get those for cheap.

If you've got the time, nearly anything can be sold for $1 or $2 so if you've got the time, you often can't lose.

 

[clovis97]

I've found, on average, that auction box lots will generally bring you 10X or more on your money if you flea market and ebay.

Just make sure you are buying household boxes, and not someone's trash or boxes that have been sorted through before hand. Box lots can be rewarding, and generally are very low risk for your investment, but they are often work. Most people that I know don't like work.

If you are looking for a way to make money, box lots can be a good source of revenue, especially if you are new to the reselling game.

 

[clovis97]

FWIW, there are quite a few people in our area that buy box lots. They buy enough to fill half a garage, and then have a yard sale once a month. I am told this can be very profitable.

 

[clovis97]

If you aren't sick of me posting on this thread yet...

When I was starting out in the reselling game, I bought tons​ of box lots. We made great money, and I am still often prone to buying a truckload or two.

 

[jerseyben]

I will go against the grain here... Unless you have a consistent and economically sound way to move a lot of items, I would avoid buying in bulk.

If your business model is to be a bottom feeder and to sort out the trash from the sellable stuff, then this could work for you.

Personally, I moved away from this type of method after the first year because I found I didn't have the time and it was way too much work to turn a profit on the "trash" type items. That is why you won't find me at a storage auction or a "dumping ground" type auction with box lots (they are plentiful in my area).

I actually "dumped" all of my trash-bulk items last summer and I never looked back.

I am not saying to never buy in bulk just don't make it your main method of obtaining items. Pay a little more and buy quality items. I have found that you will do less work for the same profit margin. Best of luck.

 

[dejapooh]

Does anyone know of an auction house like this in the greater los angeles area?

 

[clovis97]

If your business model is to be a bottom feeder

Ouch!!!!!!!!! A bottom feeder?

Around here, box lots can be the way to go, especially if you have a way to move the merchandise.

The funny thing is that most people at the action barns around here want to buy only big items and make big fortunes on each one. The competition to get the really good stuff is so fierce that very few of them make any money.

For instance, there were two boxes of Lionel trains. I know Lionel, especially post-war, and the bidding ended up at $200. Top money on ebay was at $250, (I watched them end), and after the buyer paid sales tax, and ebay got their cut...how much did the guy make?

The same night, I bought 10 boxes of household junk from an estate for $35. Two dado sets for a radial arm saw sold for $40 each, a set of S&W pistol grips sold for $55, a Bushnell scope sold for $35, a Palmgren vice sold for $60, and a rough Bluegrass hammer sold for $25. I also pieced out the junk at the flea market, and probably tripled my original investment on those items alone.

Now mind you, most of them laugh at the quantity that I buy, but I am the one laughing all the way to the bank.

The trick is knowing the good boxes from the trash.

 

[jerseyben]

Ouch!!!!!!!!! A bottom feeder?

Around here, box lots can be the way to go, especially if you have a way to move the merchandise.

The funny thing is that most people at the action barns around here want to buy only big items and make big fortunes on each one. The competition to get the really good stuff is so fierce that very few of them make any money.

For instance, there were two boxes of Lionel trains. I know Lionel, especially post-war, and the bidding ended up at $200. Top money on ebay was at $250, (I watched them end), and after the buyer paid sales tax, and ebay got their cut...how much did the guy make?

The same night, I bought 10 boxes of household junk from an estate for $35. Two dado sets for a radial arm saw sold for $40 each, a set of S&W pistol grips sold for $55, a Bushnell scope sold for $35, a Palmgren vice sold for $60, and a rough Bluegrass hammer sold for $25. I also pieced out the junk at the flea market, and probably tripled my original investment on those items alone.

Now mind you, most of them laugh at the quantity that I buy, but I am the one laughing all the way to the bank.

The trick is knowing the good boxes from the trash.

I don't know that I would refer to a box filled with those types of items as "household junk". Sounds like you really know how to maximize your value from bulk lot. As I stated, it may work for some, it just isn't for me.

 

[dejapooh]

Ouch!!!!!!!!! A bottom feeder?

Around here, box lots can be the way to go, especially if you have a way to move the merchandise.

The funny thing is that most people at the action barns around here want to buy only big items and make big fortunes on each one. The competition to get the really good stuff is so fierce that very few of them make any money.

For instance, there were two boxes of Lionel trains. I know Lionel, especially post-war, and the bidding ended up at $200. Top money on ebay was at $250, (I watched them end), and after the buyer paid sales tax, and ebay got their cut...how much did the guy make?

The same night, I bought 10 boxes of household junk from an estate for $35. Two dado sets for a radial arm saw sold for $40 each, a set of S&W pistol grips sold for $55, a Bushnell scope sold for $35, a Palmgren vice sold for $60, and a rough Bluegrass hammer sold for $25. I also pieced out the junk at the flea market, and probably tripled my original investment on those items alone.

Now mind you, most of them laugh at the quantity that I buy, but I am the one laughing all the way to the bank.

The trick is knowing the good boxes from the trash.

With all that work, you only make triple your money on a $35 investment? Hardly seems worth the trouble.

 

[clovis97]

With all that work, you only make triple your money on a $35 investment? Hardly seems worth the trouble.

The triple on the $35 is what was left after I pulled out the good stuff. I sold all the mentioned items that were in those boxes and still made a $100+ on the junk that was left over.

The trick is knowing good boxes from the trash.

 

[diggummup]

The triple on the $35 is what was left after I pulled out the good stuff. I sold all the mentioned items that were in those boxes and still made a $100+ on the junk that was left over.

The trick is knowing good boxes from the trash.

Yeah, I counted $295 plus the $100+. So, $400 for a $35 investment. It's worth it if you know what to look for and are willing to sell at the flea market.
You mentioned a Bluegrass hammer. I sold a Belknap/ Bluegrass salemens sample ax for $160 something once, got it for a buck from a yard sale where the owners buy storage units. They should learn how to research, lol. http://www.treasurenet.com/forums/g...entionables-weekend-i-love-finding-stuff.html

 

[isabella1]

I'm down if I can make $5 off something I paid $1 for or pay $10 and make $20. All that matters is the total at the end of the month is more then what I paid for everything. Alot of times those who buy the item for $5 will buy several things too. My favorite ones are the .25 cent purchases that sell for $10 or more!