When you are buying abandoned storage units you need to make the right decisions. It is easy to get caught up in the heat of the moment and end up buying some complete junk.
During silent auctions you need to take silent auction basket the time to evaluate the items in the unit as much as possible. You should open as many boxes as you can to see what is contained inside. Remember that just because something is labeled “gold bars” does not mean that it actually contains gold bars. You should make a bidding decision based on the items inside the unit and how much you think you can resell them for. Our standard formula consists of at least doubling our money on each item, or the money spent on the unit as a whole.
So if I found an item I could sell for $50.00 I do not pay more than $25.00 at the very most for that item. You have to get a good idea of how much an item is worth before making an assessment. That is why it might be a good idea to have a cell phone with internet access handy during an auction. This is the best way to get accurate pricing information from the internet.
During a live auction you have to be especially careful when bidding. Always make sure that you are getting the best look possible. Do not be afraid to get right up front during the bidding so you have a clear view of the items that are being offered. Stretch out tall so that you can see the back of the unit and remember to use your flashlights!
You should base your bids on the amount of content that is stored in the unit. Even the largest storage units may have only a small amount of the space used. Keep your bids small unless you spot something that is particularly valuable inside the unit.