Work From Home?
Initially yes, if you are starting small at auctions then you can easily keep hold of the stock you buy at home and grow the business from there. Some people choose to rent a storage unit if they are buying in bulk so their homes don’t get too cluttered with all their purchases.

Worked Example:
Head to the auction house the previous day to view the lots and establish close-up what you have an interest in. Make sure you are aware of any buyers fees that you will have to pay on top of the final price so you can take this into consideration with your bidding.

Return on the day with a list of the products you have an interest in bidding on. Know your limits and do not over-bid items – you will reduce your profit by doing this. If an item continues being bid on past your limit, stop there, you will have other items to bid on instead coming up later in the auction. Look for auction lots (a bundle of products being auctioned off in one go), there is even more money to be made this way as you are buying several products in one go at a heavily discounted price.

Pay for all the items you have won immediately after the auction finishes and take them home. If you have bought larger items, the auction houses often offer a low cost delivery service option to transport your goods home.

List the products on eBay wither as Buy it Now’s for sensible but competitive prices (consider using the ‘best offer’ option so people can send you their offers to review), or if you have bought a complete bargain, consider doing a £0.99 start with no reserve – letting the product get bid up by competing buyers.

Either option will normally give you healthy profits each and every time, and with more practice in the auction houses you’ll find yourself getting better bargains and making even more profit via reselling on eBay.

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