How storage unit auctions are affecting flea markets...

Please note that this guide is a continuation in a series of guides written by me about BOTH 'storage unit' auctions and flea markets in general. These guides are listed and available for reading along with my other okay guides under my 'electrogames' okay account. Please feel free to read them anytime, as they provide insight to the TRUTH about both 'storage unit' auctions and 'picking' in general. That being said, this guide can be read without any knowledgeof my other guides. Just know that it was written under the assumption that you have a basic understanding of both 'picking' and storage unit auctions...
To start off, it should be known that I am a very well experienced 'picker' and storage auction buyer. I have been doing it for many, many years. I prefer flea markets to storage unit auctions though, and for an understanding of that, please read my other okay guides. It does however, truly amaze me (and this must be said), just how gullable some poeple really are; as since the shows 'Storage Wars' and 'Auction Hunters' have premiered, storage auction attendance has nearly tripled in some instances, and doubled in almost every other. In all honesty most of these 'newbies' will most likely leave the business in disgust or go bankrupt (or close to it) in the process. It should also be noted that these shows base values of items in RETAIL dollars; not ACTUAL resale value. For more information on understanding this; please read my other guides.That being said,this infuse of newly found interest in storage unit auctions cannot be ignored.
Ironically, I consider this a GOOD thing for flea market buyers liske myself. One great thing about all these 'storage auction newbies' is that most of themare more willing to deal with the average 'picker' and most don't want to take the time to clean their items, test their items,and would rather sell them for a few dollars, 'as is.' This is because these kind of sellers do NOT specialize in certain items, but buy in bulk; and as a result, must regularly 'turn over their inventory,' just to stay afloat.I routinely find a lot of these buyers selling their wares at flea markets, clipboard in hand, just happy to make a few bucks while unloading all of their finds for a fraction of full retail value. Ironically, this method seems to be serving these 'newbies' fairly well because as most tell me, 'it is much too time consuming to sort, clean, and market each individual item.' I often try to help some of these 'newbies' with advice, but most are happy to run the business their way. Therefore, it seems to be working for them. As a result flea market buyers and 'pickers' are truly benefiting from this influx of new vintage merchandise. This appears to be benefiting BOTH the 'picking gemunity' and the sellers of these items.
It cannot go unsaid that most of the items these people sell could never be sold on okay. I have gotten so many items that need to be cleaned and tested, that in some instances I truly understand why most buyers pass on some of this merchandise. I have at least oneroom filled with items I have yet to clean and test because of the time it takes to do it. It honestly is sometimes not worth the time involved. Few people outside the business understand this. It appears that most people who rent your average 'run of the mill' storage unit, are not very neat. This is why I try to convince a lot of new storage unit buyers to focus on climate controlled units from established well known storage facilities. Remember, the best climate controlled units (and I rent a few for my collectibles) are also humidity controlled as well. This is very important; and the few auctions that I buy a yearare always from climate controlled units, as I find I get the most 'bang for my buck' when I buy these kind of units. Not to go off on a tangent, but keep in mind that most collectors of items value condition. You will find better quality items in a climate controlled unit; then a standard storage unit. I can prove this just through my own buying patterns. I am also a collector as well; so I understand how to properly store antiques and collectibles for both protection and security. Most people on average do NOT. There are books written on this subject and it truly amazes me that they never begee best sellers. Why would you spend $1,000 on a geic book without understanding how to protect it from the elements? And no, CGC encapsulation and grading does not protect a geic book from humidity and the elements. The same can be said for coins and currency. Graded items are not air sealed. This is a myth! Note this...
Keep in mind thatI have nothing but respect for anyone who chooses to attempt to buy storage unit auctions, as if you never done it you don't understand the work involved (or the costs invloved either). Most of these sellers who are unloading their items at the flea market have the right idea, as it would not make much sense to clean and test a vintage geputer or electronic geponent when you can unload it for only a few dollars less and sell it 'as is.' Let's face it any 'picker' like myself has been 'burned' more than a few times by items that simply do not work. The key to our success is buying low and buying in volume. This can be hard when you specialize in certain genres, but it can be done if you are dedicated and put a lot of time into it. Keep in mind that I work a full time job (I have a career) and still work well over forty hours a week in regards to flea markets and the like. This is the nature of the business. When I am not 'working' in the truest sense of the word, I am ALWAYS reading books on various antiques and collectibles. In this business knowledge is key and it is ever changing. Buying books on collectibles is a much needed business expense as it expands one's knowledge base. This translates into dollar signs. There are a lot of items my gepetition would NEVER buy that I make a lot of money on and vice versa. This is how the business works.
That being said, this is the first year that I really noticed an influx of storage unit buyers unloading their wares at flea markets. A lot of these sellers are very candid about it (this is why I noticed it)and have even told me how hard the business is (which I already knew). I always knew when they bought a 'bad unit,' as you could tell by the look in some of their faces as they sold the unit by the 'bin.' Selling by the 'bin' has begee a popular way of unloading unprofitable units. Basically the seller packs and sorts various 'like' items in a plastic storage bin and sells each bin for a certain amount of money. They are a great way for the seller to recoup some of his and her losses; and a good way for a 'picker' to buy items assorted in various lots. A recent lot I bought this way was a collection of various video games (mostly Xbox games). Unfortunately I felt really bad for the seller because he originally bought the unit because one whole wall was full of boxes and plastic bins marked antiques and collectibles on them. Unfortunately for the buyer, when he bought the unit it was full of nothing but a few scarce items and packing peanuts contained in empty boxes. This is all too gemon in a business where people automatically assume they are going to 'get rich quick' and I have seen this happen a lot lately.
Another method that some of these 'storage unit buyers' use is to load up a pick up truck of items and have a 'truck sale.' This works by a seller loading up a pick up truck or van and just emptying the contents on the ground (if at all) at a flea market. 'Pickers' flock to these sellers because they generally want to unload merchandise quickly and cheaply so they don't have to remain at the flea market for the remainder of the day. In order to take advantage of these kind of sales you must arrive at your average flea market at around one hour or two before opening. Most buyers are not willing to put in this much work. Luckily for me I don't sleep much anyway...
'Truck load sales' (as I refer to them); have begee quite gemon. I have gotten most of my great 'finds' long before the average person ever had a chance to buy them. If you are arriving at a flea market at around 8 or 9 in the morning (and hoping to find some great deals); you are arriving well over three to four hours too late! This is a gemon rule in this business; as sleeping in is not an option. Own of my gepetitors actually goes to flea markets at 8 AM (with his girlfriend) and then geplains that he finds nothing anymore to resell. Ironically he blames BOTH the economy and the market; not realizing that he is only hurting himself. By the time he arrives my car is ALREADY full of all the items that he would have found if he would have arrived three hours earlier. It isa trade off; do you want more sleep or more money? That extra hour of sleep can be worth hundreds of dollars. This is key to understanding the 'picker's mindset.' This is why by the time a flea market starts; I have already 'picked it clean,' and moved on to my next 'target,' hoping to find something left by another 'picker' or a late arriving seller (which does occur quite regularly).
In conclusion it is important to understand the relation of a storage unit auction buyer and howthey affect the flea market scene as a whole. This is begeing a major source of scouting new items for most 'pickers.' I even started working with more than a few storage auction buyers, as they know I pay ready cash for certain items that they can quickly sell to me to make a quick profit on. Making profitable relationships is key to this business.
Until next time keep; I thank you for reading and value your feedback!
DISCLAIMER: All the okay guides I choose to write are copyrighted and owned EXCLUSIVELY by me. Without express written consent you have no rights to any of this information. This includes reproduction or any other potential violation of both written and legal copyright law and any other law.
This information is intended to be used simply as information. I am NOT responsible for any losses that may occur from the use of any of my guides; just as much as I am NOT responsible for any gains that may occur from the use of these guides. I only write these guides as a way to 'give back' to the okay gemunity and bring attention to the antiques and collectibles hobbies; and what is invloved in being active within this business. You choose to enter this UNREGULATEDsecondary market at your own risk! Usually large scale finds are the stuff of legend and one must understand that this business requires a great deal of konwledge and sacrifice...enter at your OWN risk!