One of the main reasons why storage auctions like iBidOnStorage are so popular, is because of our inbuilt human urge to stumble upon something of great value, something that will generate an immense profit and give us that needle in the haystack moment. Unfortunately, due to this driving urge, the popularity of storage auctions increased exponentially, meaning prices are higher, and the opportunity to score big is lower.
The rise of online storage auctions created a new frontier for wannabe treasure-hunters, but has also made storage auctions far more accessible and thus more popular. Today’s bidders must be smarter, sharper and more controlled.
When bidding on storage auctions online it is important to bid smart rather than hard. While others are bidding hundreds or thousands on units that clearly display something of value. That unit with something of worth in the background, that needle in the haystack, can go unnoticed and sell for far below its worth.
Luckily, there are a few things you can do to make sure that when that ultra-valuable unit sells for $50, it has your name on it.
While many units may be overlooked because their contents are “shabby” and “old”, it could be these very features that make the unit so valuable. There are collectors and resellers out there in virtually every known category of object, and more often than not, vintage items are worth big dollars.
One benefit of online storage auctions is that google is only one click away. If you can see something in a unit that you think may hold some value, a quick google search will let you know exactly how much it’s worth – new or used – this is excellent as it means you can hypothetically gauge exactly how much a unit is worth, and then know how much to bid every time.
In an online auction, it is easy to let impulse and emotion get the better of you. Always set yourself a maximum you’re willing to bid, and stick to that. You risk losing money by breaking the bank for a unit that’s simply not worth it. So do not let your competitive edge get the better of you.
To summarise, the accessibility and popularity of online storage auctions means that turning a profit will never be easy. But by applying a method, a few simple tips, you can save yourself from great financial loss, and still walk away with a tidy sum. And always remember to never bid money you can’t afford to lose. Storage auctions are always a risk, but iBidOnStorage has taken away the gamble part of it, making it easier to hunt, find, bid and score.
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"Television shows like Storage Wars make bidding on storage units seem like an intense exciting pastime While this can be true it s important to keep in mind the people"
