Another busy month ahead

Auctions coming up
The next 16 days are gonna be busy, not only do i have my regular job to do, but i have auctions lined up almost every day.

Here is the auctions that are coming up in Memphis,TN

28th of january 1 location 5 units + 2 cars
30th of january 7 locations 43 units
31st of january 2 locations 24 units
1st of february 13 locations unknown number of units
2nd of february 4 locations 19 units
7th of february 10 locations unknown number of units
7th of february 2 locations 16 units
8th of february 12 locations unknown number of units
9th of february 12 locations unknown number of units
15th of february 3 locations 17 units
18th of february 1 location unknown number of units

On top of these dates there are 2 more 10th of february and 14th, but these are not confirmed yet.
And number of units can change before the auction day. Normally we see a 40% drop in units when the auction day arrive.

But it is gonna be one busy month.

Yep, that's a lot !

Just got back from an auction with 6 lkrs. All went at twice what they should have to make any money.

Going to 2 auctions on Friday, Jan 28th.

There will be 12 lockers at one place and 25 at the next. Probably be less than that, but the crowd size will make up for that. I'll report tomorrow afternoon or Saturday on the crowd and whatever luck I had.

So I'm new to storage auctions and I was wondering if someone could answer something for me.

I'm going to a a series of 13 locations tomorrow with between 100 and 155 units up for grabs.  This same company had over 80 units auctioned off today.  Will it be likely that there will be less competition tomorrow?

Hey archives you know what your best bet competition wise would be would not to go on that tour of auctions but find a smaller auction that does not look as attractive cause j can guarantee you most everyone in you area is going on that tour!

Well, since you seem not to have gotten one in today's batch I would guess there will be plenty of others who didn't either and they will all be out again tomorrow (or a few will not but will be replaced by other people).

When that happens in my area I ususally try to find some auctions in a nearby town, but it's a crap shoot. Other people have the same idea.

Could you tell us what state you're in?  Don't worry the chances of anyone here coming out to those auctions is NIL and if they live in your area they already know about them. I'm just trying to get pictures of what it's like in other states and cities. I have a friend who is even thinking of MOVING to a new location...not just for the auctions though.

Friday, Jan 28, 2011

Went to 2 auctions today by same auctioneer.

First one had about 60 people and 2nd maybe 80. Prices outrageous as usual..imho.

Here are links to crowd pics.

http://webs.lanset.com/rjsmovie/images/auc1.jpg

http://webs.lanset.com/rjsmovie/images/auc2.jpg

I went home empty handed today. But new chances on sunday, when Public Storage have their auction.

So I'm new to storage auctions and I was wondering if someone could answer something for me.

I'm going to a a series of 13 locations tomorrow with between 100 and 155 units up for grabs.  This same company had over 80 units auctioned off today.  Will it be likely that there will be less competition tomorrow?

So archives....what was the result of the Jan 28 auction you went to?

The first batch of auctions on the 27th, I didn't get to make because I had to work, but on the 28th, I took the day off.  Out of 155 units that were announced in the paper, about 80 of them were actually sold. The average crowd size at each location was 15 or 20.   I was surprised because I thought there would be a lot more people there, because I had been at others where there were as many as 80 or 100 people show up.  I was told that there was another series of auctions going on at the same time and that it divided up the potential bidders.

I thought the units were going fairly reasonable, between $50 and $250 on average.  I didn't bid on any, but considered a couple of them.  For now, I thought it best if I observed a little bit longer before I tackle one. 

Thanks for the report. Sounds like the split between two sets of auctions was a good thing.
Waiting works...there will always be more auctions...crowd control is another matter.

So at the very last location someone new showed up.  Someone who I had been talking to throughout the day said that it was likely that noone would be able to get any of the remaining lockers.  It turns out that the guy who showed up was from the local mob.  I was told that sometimes he will bid $300 on a locker before they even open the door to the unit up.  I'm assuming this is because he is laundering money by buying the lockers and claiming he turned a large profit on the unit.  Is this how you would interpret it?  I think he ended up buying a couple of lockers.

Fuhgedaboutit !

Going to auctions Wed, Thur, Friday next week and Mon, Tues, Wednesday the week after.
Hopefully get ONE locker out of that, but crowds will be the main factor.

Crowds are always a factor.  Sometimes the crowd drives the prices up, and sometimes there are deals to be had if you are quick!

Yep, deals to be had if you are quick, but I'll use the bottom end lkrs to clarify my point on the crowds.

In the old days (3 months ago) a lkr that had a few cardboard boxes (open and spilled over), a terrible mattress and maybe one bedside table might have gone for $25 at the most. One fellow got these on a regular basis at $1 or $5..it was his thing and he turned some profit on them by selling a bed frame for say $15.

Now he is out of the game. He comes but he can't buy because some idiot is now paying $75 to $115 for the same kind of locker. This is definitely a crowd issue generated by the tv shows.

I am also seeing experienced buyers who would buy a unit for $300 (then) or so and make a profit of $300 to $700 buy lockers like that ($300 lkr) NOW for $700 or so just hoping to make $100 to $200 profit these days. Dangerous territory.

It is not good.

Today i went to an auction, it was a silent auction and you gave your bid written on a paper after checking out the unit.

The crowd was not huge, 23 people, 12 of these was newbies.

The total amount of units was 10. Well this one newbie got for of them. And he paid $350 $425 $175 and $600
All of the regular ones looked at each other and said "what the hell" how is he gonna make money on that.

I mean this was lockers the rest of us bid like 50 and 75 bucks on.
So i know for a fact we will not see him again.

Let the newbies bid high for a while, and run out of money. Because they will