These “Big Dogs” many times own antique shops, or sell products at flea markets. They almost always know a products value. But they also miss a lot of things.
You will easily be able to notice any big dogs, coming to your auctions. Many times they will have locks attached to their belt loops, in preparation of winning a unit. They also often have high powered flashlights. Or they may even have a big pickup truck with their company logo on the door.
But one of the dead giveaways if you attend a lot of auctions is seeing the same person at each auction that you attend.
A lot of the time the majority of the people that are at an auction saw the ad in the paper, and are looking to get something that they need, and it was mentioned that it was for sale. For example, they need a cheap washing machine, so they look through the classifieds, and happen across the legal section, where they see that a washing machine will be auctioned off. So they attend in hopes of getting a good deal.
But the rest of the people at storage unit auctions, are looking to make money. If you see the same people at each auction, you can pretty much guarantee that they are reselling winnings and trying to make a profit.
But again you are at an advantage, because these big dogs often have to sell items quickly in order to cover their business expenses, like rent, and utilities, which add up really quick. Remember most of these peoples income rely on auction winnings.
You are at an advantage, because you can take your time going through things, and finding the diamond in the rough, but the big dogs need to sell quickly.
So they look for items that they know have value, and can expect people that come into their stores will buy. For example, they often look for TV’s, radios, records, appliances, furniture, antiques, and other electronics.
But because they are looking for the big things, they often miss the little nuggets of gold, and these can have a high collectible value.
For example, in an auction that I won, a big dog was in a unit before I was, and was digging through the items. He held up a Hot Wheels collection, he didn’t think they were worth anything so he set them back down, and as he walked pass the complex owner and myself, he mumbled, “Nothing of value in there”
But that didn’t deter me, I went and looked at everything myself, just to make sure, I especially took a close look at those Hot Wheels, as I knew some of the older cars had a lot of collectible value. Each Hot Wheel has the date that it was produced on the underbody.
I was completely shocked when I saw the date on the Hot Wheels, each and every one was from the late 60’s to early 70’s. They were also a type of car called Redline that were especially collectible.
They were all in perfect shape, and carefully taken care of. I knew that I hit a gold mine, and I HAD to have them. Later in the book I will tell how I won the unit, but I will say, that I ended up selling all the cars, there were 30 total for $1800. That’s right, the same cars that a big dog held in his hand, and passed off as worthless I sold for $1800!
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