Remarketing traditional auction merchandise

Not from personal experience but from looking into this when considering a resale shop here is what I know.

The guys that have been doing this forever like to point out that the "noobs have ruined it". It seems the storage auction TV shows with their fake inflated prices have got people coming in and bidding too high. There is still money to be made but you have to be aware that not everyone bidding against you is a professional looking for a good wholesale price.

Since I work for a dealership I can tell you with titled items there are rules about how many you can buy and sell without getting a dealer license. Buying and selling such items and reselling them is called curb stoning and is illegal so look into that as well.

That is part of the reason that items like a jetski can still sell for a good wholesale price. Because unless they are keeping it for personal use most of the people bidding would have to be careful about reselling it unless they registered it which would add hundreds to the price they paid.

Hope my little bit of feedback helped. My advice can be summed up this way. If you plan to buy titled items and you live in a state that is dealer friendly get the license and have at it. You will also get access to non-public wholesale auctions by doing that.

If you plan to sell smaller items including a few larger non-titled items get a "store" as that will help you buy and move lots/lockers. You will sell the cheap stuff and make at least enough to break even with your profit being from the larger finds. Also with a store a lot of cheap items can be purchased at auctions when no one wants it.

My ex-father in law used to buy any boxes they didn't get bids on for liek a $1. He would often got lots he could have resold for $100 plus in a store. He just never got the store and gave most of it away minus a few nicer items that he craigslisted under the table. He made money from most auction without even selling the small stuff.

oh yeah, i wouldn't hit any storage sales. I can't believe anyone would think, storage owners/managers wouldnt rummage through abandoned/delinquent units themselves looking for real valuables before auctioning them off anyway. I know I would!

I was thinking more business to business type stuff, estate auctions, business closures et....not consumer knick knack stuff. Probably a little higher price tag stuff would eliminate many of the weekend warriors. That is how I got the jetski cheap, I was outbid by quite a bit but the guy didn't have the money or enough credit card limit, so they went with my lesser bid.