Important Considerations to Make Your Auction Easier & More Profitable chapter 3

Chapter 3

Important Considerations to Make

Your Auction Easier & More Profitable

Be prepared. It is extremely important that you prepare yourself with information and tools needed before you attend an auction. A little preparation before you attend an auction will avoid common problems and insure your efforts success.

Pre-Auction Checklist

Equipment/Working Supplies Needed

1. Computer, Internet Connection–for researching auction listings, inventory and internet sales.

2. Digital Camera–for photographing and marketing your winnings on eBay and Craig’s list. Tripod–Essential for taking great photographs.

3. Padlocks–Good quality to secure won units until removal.

4. Flashlight–To see valuable items which are normally hidden or in the back.

5. Moving Boxes–for smaller valuables to take with you.

6. Gloves–For sanitary reasons.

7. Jewelers Loupe-for researching small items such as figurines and jewelry.

8. Magnifying Glass–for researching china porcelain, figurines and deteriorated labels and trading cards as well as historic documents.

Shipping/Packing Material

1. Packing Tape & Fill Material–for sealing shipment and preventing shipping damage.

2. Shipping Labels–

3. Boxes for shipping out sold items

IMPORTANT–Free Shipping Boxes: USPS Priority Mail website currently has FREE shipping supplies for customers who use their service (http://www.usps.com)

Additional Pre-Auction Considerations

1. Space to store winnings–

2. Truck or trailer– Makes hauling much easier rater than multiple car trips. (Find out rental costs of truck as that will help meet budget requirements.)

3. Cash–Most self storage companies require you to pay in cash–$How Much cash???