Storage Auctions
The Storage Locker => General Storage Auction Talk => Topic started by: rulesforrebels on February 09, 2011, 12:12:47 AM
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Just curious if any of you ever run into this.
I'm friendly with a few people I see regularly at the auctions, we'll talk, hang out, have a smoke but not friends outside of the aucitons.
I've had a few of these people apprach me before trying to see if I wanna go half on expenisve units with them.
I wouldn't even consider this. I'm friendly with these guys but don't know them from adam and even if you did trust them which you shoudln't I can see problems when it comes to how does that work? Do you split the merch up and sell it on your own and keep profits or sell it together adn split all profits. Just seems like nothing but trouble.
I can maybe see doing something like that on a unit with say a car in it where its an easy item to flip, one thing to get rid of, ownership can be documented, etc but woudlnt do taht on unit full of items.
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I do it quite a bit. I've partnered up with five different people over the last couple of years, and there was only one that I regretted. He didn't want to work very hard and I was doing most of the hauling, listing, and selling, and he just wanted to work it from about 10 am until 2 or 3 pm! I was doing 90% of the work for half the money, and that didn't last long!
However, I have another guy I partner up with frequently. We were competitors at auctions, and we were constantly bidding each other up on units. We both liked the same kind of units, and it was easier (and more profitable!) for us to work together instead of constantly butting heads. I trust his judgement now, and if we have a day where there are multiple auction runs, we'll split up and potentially split some units. We don't do it on every one, and we still both buy a lot of units on our own, but we do have an arrangement that works for us.
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I've seen it happen, but I hear more often than not it doesn't have a happy ending.
One big buyer has had 3 partners in about 6 years....I guess 2 years on average isn't bad though. One of HIS former partners complained that the fellow I'm talking about didn't do ANY of the lifting !
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I can see if maybe in advance you decide to form a partnership, agree to terms how to split things up, etc. Still like you said I see one person doing more work than the other and that causing problems or fights over money and items.
I can see planning this in advance but oftentimes it's in the middle of an auction price is at like 600 and a guy will come up "Hey dude, wanna go half on this?" With really no discussion of terms how we will split stuff, etc.
For a large unit full of stuff I woudln't trust someone I didn't knwo that well not to steal soem good stuff out the unit, to give me what I'm owed for stuff he sells on his own, etc. If it were a car, motorcycle, construction equip or some big thing thats easy to keep rack of , easy to sell, I'd be more likely to do it.