Storage Auctions

tomorrow's the first auction of the new year for me...

tomorrow's the first auction of the new year for me...
« on: January 11, 2012, 12:05:24 PM »
boy am i excited!

im even working out corporate sponsorship! a little history on that:

ive been in the IT and console modification / repair business for well over a decade. ive worked as the lead admin for dell.com from 1998-2002. ive worked for apple as a tier2 supervisor/admin from 2002-2004. at that point, i decided i wanted my own hours and went into business for myself.

fast forward to this past november. i got a voicemail on my phone one morning that sounded like it came from nick nolte after a nights carousing at the bars. basically it was 'hello robert, this is douglas, i have a job for you..'.

so, curiosity eventually gets the better of me and i call the number, speak with the receptionist. eventually, douglas gets on the phone and basically says he wants me to take over the IT aspects of his company. we talk for a few hours, agree on an hourly rate and i become contracted to him as the head of his IT department.

well, hes so impressed with the work ive been doing that yesterday, i was relating to him about how this thursday will be my first auction where im going to actually purchase something (he watches auction hunters and storage wars). he says to me 'you know, if you find something really interesting that you think i might like, or something oil-related, let me know. i might just have to invest some money into this idea of yours'.

we've been talking about it more this morning as well. he's even offered me one of his employees and a truck if i get a unit thats too large to move with my rav4.

the last 4 months have been really, really good to me. im wondering if its karma finally repaying me for all the good i've done and not asked for anything in return (im a sucker for pulling over on the highway when i see people broken down and offering rides or advice to fix their cars. plus i like tinkering with cars).

i can only hope and pray that this streak of incredibly good luck continues into my new endeavor with buying and reselling what i win in lockers.

Re: tomorrow's the first auction of the new year for me...
« Reply #1 on: January 12, 2012, 06:55:55 AM »
aaaaaaaaand im off! will update this thread when i make a purchase. hope things start good this new year!

Offline MovieMan

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Re: tomorrow's the first auction of the new year for me...
« Reply #2 on: January 12, 2012, 12:03:38 PM »
boy am i excited!


That's a good thing, though sometimes it can get you in fix.

However, Carnac predicts:

1) There will be a big crowd on January 12, 2012 where you are attending auctions.
2) Prices will be high...too high to make a profit upon reselling items.
3) You will not get a locker your first time out.

Carnac provides this prediction for free.


Re: tomorrow's the first auction of the new year for me...
« Reply #3 on: January 12, 2012, 03:23:16 PM »
yeah, today was a bust. biggest let down was a lady paying 350$ for a unit that had a stainless steel fridge in it... because she wanted the wicker couch behind it. i had to cough out loud and yell 'someones high'.

guy i met there got one of the 2 good units. his was a double and he scored it for 1500. the other was a tools unit that went for slightly over a grand.

good times, weather was a bit cold and yeah, the crowd was big. most units went from 100-400.

Re: tomorrow's the first auction of the new year for me...
« Reply #4 on: January 12, 2012, 06:02:06 PM »
yeah, today was a bust. biggest let down was a lady paying 350$ for a unit that had a stainless steel fridge in it... because she wanted the wicker couch behind it. i had to cough out loud and yell 'someones high'.

Oh don't be that guy.  I have 'overbid' a time or two and the old regulars will say 'you paid too much for that!' to which I reply "yeah?  Aren't ya glad I didn't use YOUR money?!"

I had an old-timer yesterday tell me I paid retail for that 5X5 for $600.  I looked right at him and said 'Well I recouped and will make a profit.' and then just walked away.  He trotted after me asking 'what did you find in there?'  I kept walking.

Bottom line~nobody truly knows the hows/whys and whatfors of anothers locker, save the one who cleans it out.

Re: tomorrow's the first auction of the new year for me...
« Reply #5 on: January 13, 2012, 06:02:16 AM »
believe me, it wasnt just me. when she threw out her opening bid, a bunch of people sighed or made some  kind of noise. the same lady who won that unit was with a guy and the 2 of them were heard saying stuff like 'dont let any locker go cheap unless were the top bidder. run that bid up'.

they werent very popular.

Offline Cobia

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Re: tomorrow's the first auction of the new year for me...
« Reply #6 on: January 13, 2012, 07:57:25 AM »
Oh don't be that guy.  I have 'overbid' a time or two and the old regulars will say 'you paid too much for that!' to which I reply "yeah?  Aren't ya glad I didn't use YOUR money?!"

I had an old-timer yesterday tell me I paid retail for that 5X5 for $600.  I looked right at him and said 'Well I recouped and will make a profit.' and then just walked away.  He trotted after me asking 'what did you find in there?'  I kept walking.

Bottom line~nobody truly knows the hows/whys and whatfors of anothers locker, save the one who cleans it out.

I think your right, it's just getting harder to win profitable units. It really comes down to knowledge about the business nowadays to be able to tell the difference between a $600 unit that is showing $800 value and you know you will get your money back, and a $600 unit only showing $100 and rainbow.

I have come to the conclusion that I will just have to pay a premium for the units I know will be profitable and stay away from the "dreamer" units. I just have to realize that the days of 10x - 5x return are over for now, unless I get lucky, and concentrate on units I know I can double the money.


xx
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