Went to Three Auctions This Morning

Of course this is something I started doing because the guy I used to work for was able to make pretty good money at it. I get the heads up on them from various sources, obviously if you are going to have an auction then you want to publicize it. A Sacramento bankruptcy lawyer sent me a notice for the best one today. He is looking to get the best deal that he can for the client that he is representing, which means that he wants to be able to get the best price possible when they start selling off assets. The trick is to know what is going to sell and what is going to sell at a decent profit. Obviously I am looking for stuff that I can buy low and then sell high, or at least sell at a somewhat higher price. I try to think of the time invested as a hobby. If I was not doing this, then I would be sitting in front of the TV getting fatter.

For me what makes sense is when you have something mechanical that needs to be fixed, but which can be fixed at a reasonable price. Obviously I am looking at a bottom line. You pay for something, then you need to fix it and so you need parts. After that you usually want to make it look like it is brand new whatever it is. So you need to paint it if it needs paint, or perhaps put some other type of coating on it. I have a guy who does stuff like that for me, but only if I pay him cash. His boss does not care if he does this sort of thing off the clock. The trick is obviously to make the sale after you do the rest of it right.

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