| Make Money with Storage Auctions and Flea Markets |
Make Money with Storage Auctions and Flea Markets
Do you want to profit from the buying and reselling of merchandise sold at mini storage auctions? If so, you need to choose a method of resale. If you have customer service experience and many quality items to sell, you may want to sell at a flea market.
If you want to make money with selling mini storage auction merchandise at a flea market, proceed with caution. Remember, your goal is to make money, not lose it. You must rent a table or space at a flea market. Some organizers charge very high fees. Depending on what you have for sale, flea markets may not be worth your time or your money.
Speaking of what you have for sale, know how to buy valuables and resellable items at mini storage auctions. If you can inspect bins or storage units beforehand, do so. If not, look for signs or use your best judgment. A storage unit filled with moving boxes and furniture may be the sign of two households that consolidated into one. Household goods can be resold for a profit. Also, look for name brand products and antiques.
Returning back to selling at a flea market, see what is available. If you live in a large city or town, you may have multiple flea markets to choose from. Before making your choice, visit them. Which flea markets receive the most traffic or are open the longest? Then, examine dealer fees. You do want to keep your costs down, but keep quality in mind. A flea market that receives more traffic is worth a higher dealer fee.
In keeping with location, if your local flea markets are not popular, you may want to examine those in the nearest large city. You may have to pay higher dealer fees, but the increased traffic may be worth it. Do you have a large van or truck that you can use to transport your goods? If so, consider this as an option. If you cannot find a decent flea market, remember that you can sell your mini storage auction merchandise online or host your own yard sale at home.
As for dealer fees, see what options you have. Can you purchase a selling spot for only one weekend, a month, or the whole year? If you intend to use mini storage auctions to your full advantage, like by traveling to attend them and buying as much as possible, a long term rental is recommended. The longer you rent a space at a flea market, the bigger discount you should receive.
It is also important to get as much information as possible. If the flea market organizers have a website, visit it. If not, call or ask questions in person. It is not uncommon for some organizers to limit what can be sold. Upscale flea markets do not want to appear as if they are one big yard sale. In these instances, it may be common to find secondhand clothing prohibited. Before paying a dealer fee or signing a contract, make sure you can sell what you have.
When pricing your items, it is recommended that you first do research online. Make sure you don't have any valuables. Yes, you can still sell valuables and antiques at a flea market, but know their worth. As for the rest of your merchandise, keep your eye on making a profit. Remember what you paid for the merchandise, as well as your dealer fee. Make sure you walk away with a profit, even if you must slightly raise the price.
As for why flea markets are considered a better method of reselling, it has to do with sales. Those shopping at flea markets expect to find a good deal, but not deep discounted items like the ones sold at yard sales. This allows you to reasonably set your prices higher. Shoppers also visit flea markets with the intent to buy, as a shopper may have to pay an admission fee. This, alone, increases your chance of making multiple sales.
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