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Over 200 at local auctions these days

Over 200 at local auctions these days
« on: January 03, 2011, 01:14:57 AM »
I went to a few auctions the other day. over 200 people following the auctions over 4 different locations. They was so may people they ran out of bidding numbers and stopped registering people, just said if you buy, give them the info. This was a very cold day with ice all over.  Bad neighborhoods, run down storage units, doors that wouldnt open properly, Less fortunate person looked to have lived in one unit. Cheap rent i suppose but it sold for $45 for basically nothing but a efw ashtrays, blankets, and alarm clock laying on the floor  . Seen people paying insane prices for junk hoping to find a treasure. Closet sized bin sold for $185. Had two garbage bags with christmas decorations sticking out. Also looked to be 4 blue plastic sotrage containers. Id like to think there was gold bars in the bins but image with the christmas stuff on top. it couldnt have been anywhere near worth $185. Man paid $825 for a pile of EXPIRED in 08 Chinese food boxes and soft drink cases from a business. No actual rest. appliances. I watched the tv shows too, but didnt lose my mind. I used to attend these auctions 15 years ago where $20 would actually  get you a decent unit. Perhaps I should have stayed home.

Re: Over 200 at local auctions these days
« Reply #1 on: January 03, 2011, 09:06:40 AM »
Where are you located?  Been to a few here in Houston and yes crowds were up.  Not 200.  Maybe 40-60. 

Re: Over 200 at local auctions these days
« Reply #2 on: January 03, 2011, 09:18:37 AM »
Here in Memphis there has been normally around 10-15 people attending auctions, after the two tv series started, "the hype" bidders have joined in, and today we have around 30-40 people attending auctions.

But alot of them are no active bidders, maybe only like 10-15 people bid, some of them are newbies, and the kind of bid the price up.

Units sells maybe for as much as 3-40% higher now then before. But this will regulete it self with time.
Give it 2 months and "the hype bidders" will be gone.

Offline Drew

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Re: Over 200 at local auctions these days
« Reply #3 on: January 03, 2011, 12:04:25 PM »
That's a lot of people! It would take 30 minutes just to give everyone a chance to see the unit

Re: Over 200 at local auctions these days
« Reply #4 on: January 03, 2011, 07:57:11 PM »
I am in Charlotte, NC. Its not a good sign when your number is 224 and still people registering. This was a different auction... what a mess. Hard too get to the unit much less see what inside.  The alleys arent big enough. Wished at least the lookers would go away or at least stand back. 'REGULATORS" is whats needed here. Think I will just stay home til the crowds thin. Went to a by the piece auction.. Hard to sell many of those boxes by the piece when they know whats inside. If they sold "mystery box", they would probably sell for $50 each, Then everyone would get some NatGeo magazines and pans. Maybe even some costume jewelry if their lucky.
Michael

Re: Over 200 at local auctions these days
« Reply #5 on: January 03, 2011, 09:23:27 PM »
You could always travel an hour outside your area. mot hype bidders tend to be in the bigger city's

Re: Over 200 at local auctions these days
« Reply #6 on: January 25, 2011, 09:11:29 PM »
The auctions in the detroit area have gone from 10-15 regulars to 100+.   The bidding is getting stupid too.  Saw a unit with just 4 boxes (2 were empty)  go for over $60.  

The new bidders are blowing all their money on crap units and they will soon learn the hard truth.

One couple bought a unit for $350.   It was a nicer unit with some nice stuff but they didn't have anywhere to put it.   they didn't realize they had to move out with 24 hrs.   They ended up signing a new rental agreement and put the whole unit on craigslist for $800, then $500, then $300...  

The newcomers will soon get frustrated there is not a quick fortune to be made ad the crowds will thin out.   May take a few months, but soon enough.

Offline Drew

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Re: Over 200 at local auctions these days
« Reply #7 on: January 25, 2011, 09:14:27 PM »
That's crazy, I'm hoping dies down sooner than later

Offline MovieMan

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Re: Over 200 at local auctions these days
« Reply #8 on: January 25, 2011, 10:15:28 PM »
Seven years ago there would be a dozen of us at auctions and we all knew each other.
About 2 years ago that number went up to about 30 and we thought that was a lot.

Now (yes, due to the tv shows) the crowds in my central California area are at 60 to 100 with
75 being a common number.

A month ago the newbies weren't buying, but now they are starting to.
Last week a 5x5 full of good looking cardboard boxes (neatly stacked) and nothing really showing sold
for $825. Three months ago it would have gone for about $250 tops.

I spoke to the fellow later...it was his first buy.

Re: Over 200 at local auctions these days
« Reply #9 on: January 26, 2011, 12:02:22 PM »
90% of the newbies will be gone in short time, just give them time to burn some money on a few bad units, and they will run to the hills.

Offline rulesforrebels

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Re: Over 200 at local auctions these days
« Reply #10 on: January 29, 2011, 07:32:02 PM »
The auctions in the detroit area have gone from 10-15 regulars to 100+.   The bidding is getting stupid too.  Saw a unit with just 4 boxes (2 were empty)  go for over $60.  

The new bidders are blowing all their money on crap units and they will soon learn the hard truth.

One couple bought a unit for $350.   It was a nicer unit with some nice stuff but they didn't have anywhere to put it.   they didn't realize they had to move out with 24 hrs.   They ended up signing a new rental agreement and put the whole unit on craigslist for $800, then $500, then $300...  

The newcomers will soon get frustrated there is not a quick fortune to be made ad the crowds will thin out.   May take a few months, but soon enough.

I agree with ya, I recently saw a unit at a PODS auction go for over $900. There were 4 old mattresses and nothing else. This guy would have to sell each used mattress for $225 just to break even.


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