AUCTION SALES - Better than eBay
Is this a business you could do?
Explanation: In almost every community in this nation, there is an “Auction House” of some kind. These establishments usually hold regularly scheduled Auctions.
If you have ever gone to one of these Auctions, you have probably noticed that everything from broken furniture to “new” appliances are sold to the highest bidder. And, almost anything can be sold for “something.”
AUCTIONS are one of the very few places where you can actually make “something” from almost “nothing.” As a matter of fact, you can literally turn “nearly nothing” into a solid fortune.
- HOW TO -
Your first step to making a “bunch of money” at Auction Sales is to familiarise yourself with the Auctions in your area. Find out where and when they are held. Who the Auctioneers are. What kind of items sell best.
To locate the Auction Houses in your area, check the telephone directory yellow pages, under the general heading, “AUCTIONEERS.” Call and ask if they have an Auction House, where it is located, and when the Auctions are held. Also, watch the Classified Ads in your local newspapers for announcements of coming Auctions.
Before attempting to use the Auctions to make money, go to a few Auctions. When you go, take a note-pad and pencil and make notes of “what” is sold and how much it brings. This will give you a pretty good idea of the value of seemingly worthless items.
NOTE: DON’T make the mistake of going to just one Auction and assuming you have a good-enough idea about prices, etc. Do yourself a favour and attend at least 5 or 6 Auctions.
While attending these Auctions, you will slowly, but surely, come to the conclusion that people will actually buy anything (and I do mean literally anything) at an Auction. You will see real “junk” being sold for prices you will not believe.
Once you have attended a few of these Auctions, check with the Auctioneer and find out how much he charges to sell items for you. In most cases, his charges will be in the neighbourhood of 20% of the amount the item sells for. Also, find out when you should have your items at the Auction House, so they can be marked and entered for Auction.
When you have all of these facts in hand (coupled with your notes on items and prices), you are ready to start making money. All you need now are some items to sell at the Auctions.
Take your notes, go down to the Basement, up to the Loft, or out to the Garage - these are the places people most commonly store discarded “stuff.”
Look over the items you have but no longer have a use for. These can be your first Auction items and can generate some quick cash to get you really started.
Get all of these items out where you can clean them up. Wash the items that are washable. Use a Vacuum Cleaner to clean off dust and cob-webs. Use a cheap furniture polish on wooden surfaces and try a spray-on Rug Shampoo to clean upholstered items. Make any minor repairs, such as tightening screws, nailing loose pieces, and the like.
NOTE: DO NOT make major repairs or try to refurbish items. Leave that for the buyer to do. Most Auction Buyers buy to save money by fixing things themselves.
Just make your items presentable.
When you have these items cleaned-up, deliver them to the Auction House on the proper day, so they can be sold at the next Auction. One of the real beauties of selling by Auction is that you do none of the actual selling. And, the Auctioneer will do his dead-level-best to sell everything at its highest possible price (it means more commission to him).
Before advising you on where and how to get more items to sell at Auctions, let’s get into the Auction process itself. This way, you will know how to help the Auctioneer get top-price for your items and make more money for you.
To do this, go to the Auction where your items will be sold. When one of your items comes up, pay close attention to the bidding. If no one makes an opening bid for your item, bid on it yourself. ????????????
Should it be necessary to make this first bid yourself, keep it very, very low - say £1 or less. This will prompt the other bidders to bid it up, because they don’t want you to get the item so cheap.
Further along, if the bidding stops, and you really don’t want to sell that item for the last bid offered, make another bid just a little-bit above the last bid. This will usually start the bidding again and increase the price.
If the bidding does not start up again, and you end up buying one of your own items, you only pay about one-half the regular commission to the Auctioneer. ??
And, you still have the item to sell at another Auction. (Be sure to check these percentages with the Auctioneer before you take the items to the Auction.)
NOTE: Buyers at Auctions are a curious breed. They buy, like anyone else, to get the best buy for their money, but they are also intrigued by the action; the battle of bidding-wits. Winning the bid means a victory, so, if they really think they want the item, they will make every effort to “win the bid” (purest competition). This quirk gives you, the seller, the maximum edge; no matter who “wins the bid,” you come out the real victor with cash in your pockets.
Even if you buy your own item, all is not lost. I have seen a number of instances when, after the Auction, the party you “beat-out” for the bid will come to you and offer you a “profit” on your purchase, if you will only sell them the item for a few bucks more than you supposedly paid for it.
The most important piece of advice I can give you about attending the Auctions is to get to know the Auctioneers. Let them know what items are yours. Then, during the Auction, they will sneak a look in your direction when your items are on the block. This will allow you to signal them whether or not to sell for the last bid; giving you the chance to determine your own profit. ?? reserve
NOTE: Although I have given you a general outline of the procedures to follow at the Auctions, once again I will advise you to go to your local Auctions to learn, first-hand, the procedures and attitudes that prevail. BECAUSE - each Auction has its own personality.
Once you have sold the discarded items from your own Basement, Loft, or Garage, you should understand the process well enough to start getting other items to sell for a profit at the Auctions.
There are literally so many different places to locate and acquire items to sell at Auctions that a full scale book couldn’t cover them all. This being the case, I will attempt to give you a few general ideas so you can develop the others.
1) Keep your eyes open for people moving from one residence to another. Inevitably there will be some items they are leaving behind. Drop by and ASK if there are any items they intend leaving. If there are, ASK if you can have them - or - after you know “what” items they are leaving, offer them £10, or so, for ALL of the items.
2) READ the Classified Ads in the newspapers. After you have attended a good number of Auctions, you will pretty well know what items will sell, and for how much. By studying the Classified Ads, you can come across items that people are selling for less than the same items will bring at the Auctions.
3) Listen to your friends, neighbours, and relatives. If they have bought new furniture and/or appliances, find out what they did with the old ones. Offer to haul it away for them - or - offer them a few bucks for everything.
4) Keeping in mind the kind of items and how much they bring at the Auctions, attend all of the Flea Markets, Garage Sales, and Yard Sales you can. If you see any items that bring good prices at the Auctions, buy them. When buying them, DON’T be afraid to “haggle.” Get the best possible price so you can make more at the Auctions.
5) Every community has some kind of Sanitary Landfill (Rubbish Dump). Find out where it is located in your community. Go out and browse around every week or so. You will be absolutely amazed at the “good stuff” people throw away. Pickup what you can sell at the Auctions.
NOTE: It used to be that anyone could just wander around the Garbage Dump and pick-up whatever discards they wanted. Today, in our more officious society, some dumps require you to pay a fee, or have a license, to scrounge around in the landfill; others don’t. Check out your local requirements.
6) While driving around keep your eyes open for good items setting around in the yards, car-ports, or near the Rubbish Bins. Stop and ASK if you can haul the items away for them. If not, ASK if there are any items they no longer use that they want to sell. Make a deal to buy everything for one price.
NOTE: If you offer a man £1 for a discarded chair, he will probably laugh at you. BUT, if you offer him £10 for 15 items, he will usually jump-on-it. Always remember to ASK the person you are dealing with if they will throw-in this item and that item, or “what about this?” Get all of the items together, then make the £10 or £20 offer. A ten-pound note looks mighty big, if the person selling realizes that he is getting cash for something he can’t use anyway.
As you can see from the few examples listed, there are countless ways, and places, you can get items for nothing, or nearly nothing, to take to the Auctions.
Always remember, the majority of people either do not know about selling at the Auctions, or they just don’t want to bother with what they consider “too much time and trouble.”
Take the “time and trouble” to follow up on the Auction Sales and you should be able to enjoy £500 to £1,000 per week in solid income; with very little effort and, almost no investment (other than your time).
- HINTS -
1) If you live in, or near, a City, go outside the City to the various Farm Auctions. Buy items at these Auctions that city-dwellers might want or need (such as hand tools, bolts & nuts, nails, etc.). Take these items to the City Auctions - or - vice versa; buying in the City Auctions and selling in the country Auctions.
2) Watch for Closeouts & Bankruptcies. Buy up the new merchandise (sometimes as low as 5p on the pound) in bulk and have the Auctioneers sell it for you at the Auctions.
NOTE: This one area alone has made a “great” number of solid fortunes. USE IT!! NEVER - repeat - NEVER - tell anyone at the Auction that you are there selling anything. If they know you are selling something at the Auction, they will not bid on the items on which you are trying to jack-up the prices.
4) One of the best ways to locate and acquire items to sell at the Auctions is to run a Classified Ad in your local newspaper, something like this: “WANTED - Used Furniture, Appliances, Radios, TVs, Musical Instruments, Tools, etc. Check your Loft or Basement and telephone: (your number).”
When people respond to the Ad, don’t even try to talk a deal over the phone. Get their address and drop-by to see them. Look over everything they have to offer and offer them one-price for everything they have. Don’t be afraid to haggle; keeping your costs as low as possible.
REMEMBER: An offer of £1 for one item may be laughed at - BUT - an offer of £10 for a dozen items may well be accepted.
- INTERNET UPDATE -
If you have ever thought of getting involved in the Internet Auctions (like eBay), go ahead - BUT - you’ll make a lot more money, faster and easier at your local Auctions than you will ever make online. - Plus you don’t have to wait to be paid, you don’t have to do any shipping and handling, and you don’t have to be worried about getting stiffed by one of your “unseen” buyers. - The Auctioneer will handle all of it for you and you’ll get paid just as soon as the auction is over ... usually in just a matter of hours (rather than days or weeks). Check with the Auction House on their terms.
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