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Finding Items For Your Resale Store At Auction

Friday, May 1st, 2020
auctions for businesses

If you own a thrift or resale store, you know it can be difficult to find the right stock of items. Your goal is to find enough items at a great price so you can make your customers happy and make a profit. Going to auctions is a great idea for getting a good amount of sellable items at a great price. Here are some of the benefits of going to auction for your store’s stock.

You can find collector’s items

If you are looking to add something new to your stock that will help you stand out from other resale shops in your area, consider collectibles. Do some research on what is popular and look at auction catalogs to see what might be available. If you keep these items stocked regularly, you may be able to get clients and customers that request certain items and are willing to pay a good price.

Auctions have vintage items

Looking for something special to add to your inventory? Auctions often provide great-quality vintage items for reduced prices. This included furniture, kitchen items, clothing, and accessories. Having a good stock of vintage items in your thrift store will help you build a strong base of customers that will keep coming back.

You can get items in bulk

Auctions can provide you with a variety of items in lots. This means that you can bid on many items at one time. Not only will this save you money, it will also help you save time. You won’t have to shop at multiple places or rely on picking up donations if you attend a few auctions. This is especially helpful if you are just opening your shop.

You can expect good deals at an auction

Although not every auction will have amazing deals, you will save money by bidding at these events. Lots often include sets of dishes, silverware, collections, and even jewelry. Getting a good deal doesn’t just rely on the auction house or sellers. You must have a set budget to spend and know when to stop bidding so you don’t go over that amount.

Tips for finding your inventory at an auction

If buying your store’s stock from auctions sounds good to you, there are some things you should know before bidding. Use these tips to help you.

  1. Set a budget and stick to it. This is one of the most important things to keep in mind.
  2. Don’t get intimidated by other bidders. They may try to bid you up and make you spend more. Do not fall for this, or you may go over budget.
  3. Preview the items available at auction. This can help you prepare your budget and make room in your store.
  4. Arrive early. This will help you get a good spot where the auctioneer can see you.
  5. Only bid on what you need, unless you can spring for a special item.
  6. Create a relationship with the auctioneers. Once you get to know them, they may be able to get a sense of the items you like and let you know about their sales ahead of time. It will also help you become familiar with the auction house and their event schedules.

Auctions in the Texas Panhandle

If you need some new, exciting inventory for your resale shop, consider a local auction! At High Plains Auctioneers, we offer a variety of auctions throughout the year. Give us a call at (806) 244-6776 or Send Us an Email to learn more about our events. Don’t forget to check out our Upcoming Auctions to see what we will have available!