Are Saturday Storage Auctions Ruined Forever?!

The really funny thing is that before the TV shows, Saturday used to be the best day to go to storage auctions. In fact, most facilities would never hold auctions on the weekends, since the crowds were so light.

The auction buyers who sell at flea markets and the like were out selling their stuff on the weekends, and buying during the week, so the only buyers one would see were "newbies".

Back then, these inexperienced buyers were a different breed. They all thought they could buy an entire household for $100 or less, and didn't come with much money to spend. And, they were also not aggressive bidders, just out "tire kicking" on a weekend morning, and dreaming they could purchase a lot of merchandise for next to nothing.

And as long as I was around, no one except me was getting good items for a good price. If a rookie buyer got anything, it was usually junk that I couldn't use.

Now, they are bidding recklessly, and almost always losing money. I went to an auction last Saturday where there were about 35 buyers, and I didn't recognize anyone (I have been doing this for a while, and know who all the "regulars" are).

After seeing the loads of $$$ thrown at the first 4 units, I knew I was just there for entertainment, and wouldn't be likely buying a locker that day. Then they opened up a unit with thrashed, clapped-out Harbor Freight power tools, and other junk that wasn't taken care of. One of the newbies turned to me and said "I bet this sells for around $150".

I told him "just watch- some fool will throw out at least $400 for this junk". He looked at me in disbelief. There was a bidding war, and the 8 X 10 room went for $700. I wouldn't have even paid $100 for it. Boy, I underestimated the stupidity of this group!!!

So yes, at least for the time being, Saturday auctions are ruined. One encouraging sign in my area is that the monster weekday crowds have dwindled down a bit. People are finding out, one by one, how very hard it actually is to make a lot of money buying units for inflated prices. And they are telling their friends, too.