Wish people could just be honest

I have been buy storage units for the past 9 years! Why can't people just be honset and say they would have never done until they say the tv show. They saw the show and looked at the person next to them and said hey this is a great idea. Whats funny is the ideas they are comming up with to sell there stuff while at the auctions. Common sense says have that plan in motion before you buy. Even the people on the scripted shows knows that. They should do a storage bors show on that. And why please tell me why bidding is so high!! Is it to become a winner while there life is loser?? But really why bid so high. Is it the idea to make money and that is why you are at the auction.

But really why bid so high.

The simple answer is they are clueless. Once having bought one or two at high prices and either breaking even or losing money, perhaps they will learn.

The simple answer is they are clueless. Once having bought one or two at high prices and either breaking even or losing money, perhaps they will learn.

naw, I think a few of them are hard headed, they keep going for that one in a million locker with large sums of cash and gold bars.

Unless the locker owner went to prison ( I would suggest staying away from their property), they have deceased, or became a vegetable in the hospital I doubt you'd find any real large sums of cash in a locker. Coz after all they could go there, pay up, then carry on about their business.

naw, I think a few of them are hard headed, they keep going for that one in a million locker with large sums of cash and gold bars.

Maybe people think there is some kind of an award for the most spent on a locker for the year. To me anything over 600 should be looked at carefully cause you need to make at least 1200 on that unit to make a good profit. This is the year of all back rent has been paid on all units in america plus a better than great profit to the auctioneer.

When I see a fool separate from his money I usually just yell into the crowd..."There's one born every minute."

This usually gets some laughs.

I have been buy storage units for the past 9 years! Why can't people just be honest and say they would have never done until they say the tv show. They saw the show and looked at the person next to them and said hey this is a great idea. Whats funny is the ideas they are comming up with to sell there stuff while at the auctions. Common sense says have that plan in motion before you buy. Even the people on the scripted shows knows that. They should do a storage bors show on that. And why please tell me why bidding is so high!! Is it to become a winner while there life is loser?? But really why bid so high. Is it the idea to make money and that is why you are at the auction.

Lets face it, this is the 21st. Century version of the Califronia/Alaska gold rush, mostly because of the TV shows but the state of the economy is also having a huge impact. I think 80% of the people who are getting into this have not developed a legitimate business plan about turning storage auctions into a productive business. Yea, I here a lot of people talking about making it a business, but I think most people are thinking they can throw down $500 on a unit; then sell $1500 worth of jewelry & collectibles on Ebay, another $500 on furniture to friends, family, or thirift stores; and just give away all the yard sale and flea market junk because they have already made sooo much money on everything else they don't have to deal with that.

You and I and others on this forum know it does'nt work like that. More than 80% of the faces you see at auction will be gone in 6 months, and the few who remain, most of them will decide to be part time hobbiest just because of the capital and time and labor involved in turning this into a full time profitable business.

Thats my opinion anyway. 

I think it won't change much until the shows are no longer new,One drops out,then the new shows start and 3 start again.When the economy is in the dumper more people want to get that carrot on the end of the stick.Unfortunately it takes alot of fertilizer to get that on carrot.

  Copia Vita
  but I think most people are thinking they can throw down $500 on a unit; then sell $1500 worth of jewelry & collectibles on Ebay, another $500 on furniture to friends, family, or thirift stores; and just give away all the yard sale and flea market junk because they have already made sooo much money on everything else they don't have to deal with that.                                                                                                                                                                                                                Now why did You have to go and give away Our Business Plan .  
  Bandit

In a lot of cases, the difference between the people who consistently make a profit and those who consistently lose money is their ability sell the smaller almost worthless garage sale items.

Believe it or not, I made a small fortune on the things that a lot of storage auction buyers didn't want to mess with.

Clothing & books were my number one sellers. 50 cents here, a dollar there and before you know it you've made a few hundred bucks.

[quote author=Bandit link=topic=1511.msg7562#msg7562 date=1312518543                                                                                                                                                                                                                Now why did You have to go and give away Our Business Plan .  
  Bandit
[/quote]

Sorry, forgot it was a public forum, my bad 

I was looking for a business to start in addition to my job and was having no luck until I saw the show. I have started 3 businesses in the past, 2 failures and 1 success that I ended up selling. I spent the first half of this year getting everthing ready ( changed work schedule to free days, prepared storage space, studied the auction business, worked on a number of sales ideas and observed auctions). My first full month was very good but it takes working at it every day and it's hard work. Most people won't last long term because they will not do the daily work. It' rare to get the the expertise needed to be successful as easily as this forum provides. Thank you to everyone.

  Hi Millertime
   I think what will help You the most is having a steady  income  while still allowing you to go to auctions  .
Bandit

Well I'll be honest and admit I'm a hobbiest.  I've not even purchased my first unit yet.  Still doing my research and learning the trade...is how I found this site.  Also still working on my seed money, $300 down and growing.  I'm new to storage units but not to auctions.  Father and I go to a dozen or so auctions each year.  Mostly estate and equipment type auctions.

One issue I have is how easy the shows make it look.  While I love Auction Hunters for the entertainment factor I do prefer Storage Wars due to them showing the good and the bad.

As for my strategy to sell items I'll do like I've done in the past.  Mostly Flea bay and craigslist.  I will also prob hit up my sister-in-law for the smalls that I can't sell easily.  She is unemployed and doing lots of avon, yard sales, etc.  Figure offer her .25 or .50 cents on the dollar to sale my items on saturday to leave me free to do stuff w/ kids, etc.


While I'm close to Atlanta I figure I may stay away from the area.  Considering all the other newbies and professionals alike out bidding on units.

Well I'll be honest and admit I'm a hobbiest.  I've not even purchased my first unit yet.  Still doing my research and learning the trade...is how I found this site.  Also still working on my seed money, $300 down and growing.  I'm new to storage units but not to auctions.  Father and I go to a dozen or so auctions each year.  Mostly estate and equipment type auctions.

One issue I have is how easy the shows make it look.  While I love Auction Hunters for the entertainment factor I do prefer Storage Wars due to them showing the good and the bad.

As for my strategy to sell items I'll do like I've done in the past.  Mostly Flea bay and craigslist.  I will also prob hit up my sister-in-law for the smalls that I can't sell easily.  She is unemployed and doing lots of avon, yard sales, etc.  Figure offer her .25 or .50 cents on the dollar to sale my items on saturday to leave me free to do stuff w/ kids, etc.


While I'm close to Atlanta I figure I may stay away from the area.  Considering all the other newbies and professionals alike out bidding on units.

Well let me be the first to reply, this business is nothing like either one of those shows. 99.99% of storage auction goers are not that lucky to get those type of things you see on both of the shows. You have to take everything in the locker you bought, consequences can range from no deposit back, cant go back to THAT facility or CHAIN of that facility and bid on a unit, cant go to any of the facilities that the AUCTIONEER will be auctioning  at. This list goes on and on, but to me these are the two most things that stick right out the most.