Self Storage Auctions in Cape Town
The thought of finding hidden gems at self storage auctions is exciting. While taking part in a self storage auction is fairly simple. There is plenty to learn about the process, before hitting the big one. Particularly in respect to bidding. The risks are always high, but can be worth the payoff. Here are some bidding tips at self storage auctions.
Don’t Jump In Too Soon
To really understand how self storage auctions work, go to an auction, and take no moola. Simply watch and learn. Watch the other attendees, observe the units inside, and how much they sell for. Afterwards, stick around to talk to the winning bidders. They might give you some tips on what they did right and what they did wrong. Learn as much as you can from their experiences.
Bring The Appropriate Equipment
Take a torch and some steps to self storage auctions. It helps to be able to peer into a unit and assess its content, before bidding. Also, carry a writing pad. Making notes will help you think about the value of the items inside. Bring your cell, as well. Between the time of viewing the unit and bidding, you can do some quick research online into some of the items value. Of course, lastly, bring cash. You’ll generally need to pay for a unit with cash money, not plastic.
Keep Emotions In Check
In self storage auctions, you’re not only competing with others, but also against your own emotions. Particularly, if you notice others are bidding high on a unit. ‘Fear Of Missing Out’ can cause irrational behaviour. The truth, however, is that the other bidders might not know a thing. Go in with a strategy or gameplan, and stick to it. Do not let outside distractions influence you.
To stay within your limits, consider what your budget might be at self storage auctions. Stick to that cap. Then, if the bidding goes above your ceiling, just wait it out.
Have A Go-To Reseller
When you Know where you will sell the items just bought at self storage auctions, it can help determine the amount that is bid. In addition to bid or buy, ebay, gumtree etc.. look for ways to build up network of buyers. Maybe an agreement with a secondhand store or flea market stall. You will have to be resourceful here.
Understand The Sale Terms
Ask the auctioneer about the timeline for removal at self storage auctions. Also, check on additional charges. This way, you can calculate the total amount you’ll need to pay if you bid successfully.
Don’t Assume Location Equates To Value
You could go into a dodgier area, and find some hidden treasure at self storage auctions. Furthermore, if you go to one of these locations, there might be less competition at these self storage auctions. You could end up paying less for valuable items, as well. The converse, in terms of neighbourhood, could also apply.