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Buy In Bulk Auctions: 5 Tips For Getting the Best Deals
Participating in online bulk auctions is a great way to get good deals on items to buy and resell. You could buy a big bulk of items in one lot, keep a few items you want for yourself, and then sell the rest of it through sites like eBay, OfferUp, Mercari, etc.
Here are five tips to help you get the best deals on bulk auctions:
Don’t just look for wholesale pallets
Typically when people think of bulk auctions, they immediately think of purchasing pallets of items from big box stores that have surplus. As we’ve learned through shows like Storage Wars, you can also buy in bulk through storage auctions or estate liquidations. For example, here at Cal Auctions, we often have online bulk auctions where we may offer up the contents of an apartment/house or storage unit. Sometimes the local community college will want us to sell off computers or kitchen equipment in bulk.
Sign up to receive updates
Stay on top of bulk auctions by signing up for email updates on the websites you want to purchase from. You’ll get instant notification of a sale and will have time to do research on items before you place a bid.
Check smaller online auction sites
If you go to popular auction sites to buy in bulk, then there’s likely to be more competition, which could drive up the prices. Smaller online auction sites may not always have what you’re looking for, but as stated previously, it’s good to get on their email list just in case something comes up that could be a good money maker.
Make sure you can resell products quickly
If you’re buying to resell items, it’s only a good deal if you can turn around and actually sell those products. There’s nothing worse than buying something that you think is a “good deal”, but then it just ends up sitting there collecting dust.
Be disciplined when bidding
It seems like we’re always offering this piece of advice to everyone, but it’s worth repeating. It’s easy to get caught up in auction fever and suddenly dish out two or three times the amount you intended pay. Even experienced online auction buyers make this mistake.
If you’re looking to make extra money, or want to buy inventory for your online store but are on a budget, bulk auctions can be a great resource. If you’re new to our online auction site, check out our current online auctions and make sure to sign up to receive email updates.