Make money with an auction, you have probably seen something about it on television? To make money with this is really possible and has become increasingly popular in recent years.
With auctions, you can easily earn tens to thousands of euros at a time. It comes down to you investing your money smartly. And with the right investments, you will achieve a lot of profit. How and where you can earn money with all the tips & tricks we teach you here!
What do you need to get started?
- Money (this is needed to invest).
- Knowledge (about the products you buy think of the sales values etc.).
- Patience (Auctions can sometimes take a very long time and sometimes lots exceed your maximum amount spent).
- Own transport (To go to viewing days and to pick up purchased lots if necessary).
How can you make money with auctions?
Making money with auctions is actually very simple. You buy products cheaply and sell them at a profit.
Millions of euros worth of stuff are sold every day and of course, you too can enjoy it! Gold from an online auction
We advise you to start with products that you have a reasonable knowledge of, here are some examples: Cars, laptops, telephones, kitchen supplies, catering equipment and so on.
Often it is also possible to take over an entire inventory, such as shoe stores, restaurants, toy stores. In these complete inventories, there is a lot of money and you can earn the most in one go, but we still advise you to start small.
One of our employees happened to practice a self-defense sport and was familiar with kickboxing articles. He knew he had a market for that (gyms, martial arts forums, the marketplace, etc.) Coincidentally, he saw an entire batch of kickboxing supplies at an online auction and knew about the retail value of this batch.
Our employee has managed to buy this lot for +/- $ 190.00 and sold for + $ 3000.00. Calculate that comes down to around $ 2810.00 profit! To sell everything, he took a week or so, but it took an average of 30 minutes a day. Isn’t that easily earned?
He had not resold the items as a batch but per piece. Of course, you can also choose to resell them as a batch at once, but then you usually earn less. Buying up parties and reselling them separately usually takes some time. Therefore make sure that you purchase different parties so that you also have different target groups to sell them to. This way you can easily have multiple customers buying products from you in one day.
Which auctions are there?
There are nowadays many auctions available with which you can earn a lot of money, for example, Commercial clearance, Bankruptcy auctions, Bailiffs auctions.
There are both online auctions and ” live ” auctions to name them, the online auctions can be followed via the internet and the live auctions are held where you really have to bid physically.
The most famous auctions at a glance.
At these auctions, you can register without obligation and immediately start bidding if you want!
Note that at most auctions 16% premium and 21% VAT will be added to your bid amount (this is indicated on the auctions themselves).
Tips & tricks to use at auctions.
- Do market research first before you bid on certain products. Find out well what the products are worth and for what you can sell them for.
- Do not bid higher than you want to spend! We know that bidding at auctions makes for adrenaline and that some people would like to win (Don’t keep bidding if they are above your maximum amount, after all, you bid to make a profit!)
- Keep an eye on multiple auctions. That way you have a better chance of seeing lots come by for which you are guaranteed to have a market or know what.
- We prefer to live auctions. We opt for a live auction rather than an online auction because there are usually fewer people present at live auctions than at an online auction.