Auctions are happening every single day of the week, and many of them may be happening right in your city. Attending one is a way for people to start a buy-and-sell business, you see. Whatever you end up buying at an auction can be sold at a price you decide on. If you are lucky, and you buy the contents of a storage unit, you may get a vintage piece and sell it twice or thrice the amount that you have paid for the entire thing.
Here’s a beginner’s guide for folks who want to try their hand at auctioning post-pandemic.
Look For A Trustworthy Website
The first thing you need to do is find a big database where auctioneers can set up an account and upload a description about their company, a link to their website, and dates for their upcoming auctions. They can come here to post photographs of the items that they will be auctioning off, too. That is usually an opportunity to take a look at the products to get a general idea if you wish to attend that auction or not. After all, you are getting an idea about the listings, so you know if anything seems interesting.
The website you will stick to should be easy to navigate. In the primary function, you type the zip code and wait for the option to show you the auctions happening or about to occur within a specific radius. For instance, in case you are willing to drive anywhere from 30 to 300 miles, go for it. If you are looking for a particular type of items, such as an antique or a gun or a coin, you may type the keywords as well.
Check Out The Photos
The auctioneers you want to pay attention to are the ones who have taken the time to upload images of the things that they will be up for bidding. And I am not talking about stock photos that you can get for free on Google, okay? They should be real pictures that show every facet of the item.
This is why you need to see everything through a website first. When you click a photo, you will be able to enlarge it and identify if the stuff you are checking out is worth its starting price or not. If it is, then feel free to sign up for the auction. If it is not, you can find at least a dozen more auctioneers with authentic products on display.
Decide On What You Wish To Buy And Sell
A lot of the stuff can be pretty cheap in auctions and do not cost a lot of money. That is especially true when you bid on items in storage units. However, the older and more preserved an object is, the higher its value gets. E.g., coins, guns, vases, antique glasses, jewelry, etc.
You need to think if you will buy the cheaper pieces and reduce the chances of losing money or go for the gold (sometimes literally) and become rich quickly. Either option seems very tempting, I know, and I cannot tell you which one to pick. It all depends on what your potential buyers may want, so consider their views before joining an auction.
Since there is still a raging war against the coronavirus, it does not seem like the auctions will open until after another month or two. In your case, that’s okay as you get a chance to genuinely think things through and figure out what kind of items you should be buying and selling.
But before the crisis ends, I suggest that you go to an online auction to get a feel for what takes place in such an event. This way, you will realize which auctioneers to look for and win every bid. Good luck!