Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
The MoneyMagpie team
July 4, 2024
Reading time: 4 protocol
Did you know you can make money from lost luggage? Hundreds of thousands of suitcases are lost around the world every year, but they don't just disappear into a black hole – they actually present you with an opportunity to make money.
Even the luggage that never finds its owner ends up somewhere. In fact, that somewhere is usually some kind of auction house that sells unclaimed luggage to people like you and me. In America, the Unclaimed Baggage Centre in Alabama receives 800,000 visitors a year and, as incredible as it may sound, is the state's biggest tourist attraction.
If you can't get to Alabama, don't worry, you can still get a good deal at UK lost luggage auctions and even resell it at a profit.
Step 1: The auction house
When British Airways has a surplus of unclaimed baggage in storage, the airline sells the bags at auction (of course, BA – and we hope all airlines – do their best to return lost baggage to its owner before attempting to sell it).
If you want to get a bargain when looking for lost luggage, all you have to do is go to the auction house and bid on the suitcases that will be put under the hammer there.
If you're lucky, you can buy items worth hundreds or thousands of pounds for very little – most suitcases sell for between £10 and £75. The clever among you can resell the items for more than the purchase price and make a tidy profit.
Sometimes auction houses open the cases and sort through the goods. Sometimes there is a general description of the contents – for example, “men's clothing.”
There are plenty of bargains to be had and it can be fun – many people describe it as a kind of treasure hunt.
Where should I look?
London's lost luggage hotspot is Greasby's in Tooting, south-west London. This is where British Airways (one of the world's biggest baggage losers) sells its lost luggage. Greasby's also handles lost luggage from Heathrow Airport.
Auctions take place every Tuesday, with viewings on the Monday before. The last Monday viewing took place between 11:00 and 16:45. The viewings give you the opportunity to find out which bags you would like to buy.
Other well-known auction houses that deal in lost luggage include:
Since most of the auction houses mentioned above do not have airport auctions, your best bet is to check their website for the next scheduled baggage auction date, sign up to their mailing lists to be notified of upcoming dates, or follow individual houses on social media.
Step 2: Evaluate
After looking at the auction collection, go home and consider what the prices for individual items will be to see how much profit you can make up to a certain bid. It's hard to tell if display cases are sold closed, but the classier the display cases, the more likely they are to contain valuable items.
A good way to get an idea of how much the suitcases themselves are selling for is to look for similar items that are already on eBayYou can also check the recommended retail price of the cases online.
Once you know how much the suitcase itself is worth, you can set your bid limit. The only risk is how much you want to bid over the suitcase's value. If the suitcase has a lot of great stuff in it, it might be worth going over your limit. Of course, it could also be full of junk.
If you've found an auction house that lets you look inside the suitcases before you bid, you'll have a better chance of getting a bargain. The same goes if the auction house gives you a description of the suitcase's contents, even if it's brief.
Step 3: Valuable items or suitcases?
At the auction, you have two options. Very valuable items will probably be taken out of the cases by the auctioneers and sold separately. These could include electronics, shoes and jewelry. You can bid on these and then sell them somewhere else, ideally for more.
Alternatively, you can bid on suitcases and hope that they contain good clothes, shoes, books, etc. that you can auction off. It's a bit like a lottery. Auctioneers give very vague details about what's in each suitcase, so you don't know exactly what you're buying.
The auctioneers will tell you whether the clothes are clean or not, though. It's up to you whether you want to deal with other people's dirty underwear or not. Of course, you can also sell the suitcase itself and make some money.
Step 4: Get a bargain and resell
Once you have successfully bid and paid for unclaimed luggage, take it home and start selling it online to make money. Take some photos, write a good ad copy and then publish it on eBay and wait for the bidding to begin.
How much can I earn?
Loose items can sell very cheaply at auction. For example, a £500 snowboard recently sold for £75. Suitcases can fetch between £5 and £50. Even if the suitcase is just full of clothes, you should be able to sell everything for more than you paid for it.
To start making more money now, read…
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
