[Update] First auctions on Wednesday!

So my friend and I are going to our first auctions on tuesday.

The both of us combined are going to have $1000 with us. I told him that we may not end up bidding or getting any units, and that it's good to just get a feel for them the first time, but if a unit catches our eye I think we are going to go for it. I'm preparing for people to bid like crazy and end up overpricing units, so i'm not getting my hopes up.

My goal as far as getting a unit is getting one that is undervalued. I'm going to look for a unit that has hidden value. Should be hard seeing as i'm a newbie but I think we have a good eye for things.

We agreed to get a PODS (Portable on Demand Storage) if needed to store the won contents. Also we should be able to find a truck to use if needed.

So we are going to have our locks, our money, and a plan. I'm going to establish a habit of setting a cap on bidding for units. Any other things we are missing or any advice you can give us?

My goal as far as getting a unit is getting one that is undervalued. I'm going to look for a unit that has hidden value. Should be hard seeing as i'm a newbie but I think we have a good eye for things.

No offense, but you just summed up the goal of every single person attending the auction.
It's not as easy as it looks.  One thing to remember is to not discuss (with your buddy or anybody else) what you've just seen.  Step back and discuss it away from the crowd.  So many newbies tend to blurt out "Oh look.....a shotgun!"  doh!!!

Good luck~

And stick to your cap!!!  I failed to do so at my last auction and overbid.  Oy did I lay a guilt trip on myself and talk about stressing out~yikes!  I'm over it now as I've recouped, but dang~

No offense, but you just summed up the goal of every single person attending the auction.
It's not as easy as it looks.  One thing to remember is to not discuss (with your buddy or anybody else) what you've just seen.  Step back and discuss it away from the crowd.  So many newbies tend to blurt out "Oh look.....a shotgun!"  doh!!!

Good luck~

And stick to your cap!!!  I failed to do so at my last auction and overbid.  Oy did I lay a guilt trip on myself and talk about stressing out~yikes!  I'm over it now as I've recouped, but dang~

Thanks for the advice, it is much appreciated! And thanks for reminding me not to blurt out what I see, I guess you never know when/how people are listening in!

I think setting the cap and sticking to it will be key for us.

Flash light and some gloves (just in case)

So my friend and I are going to our first auctions on tuesday.

The both of us combined are going to have $1000 with us. I told him that we may not end up bidding or getting any units, and that it's good to just get a feel for them the first time, but if a unit catches our eye I think we are going to go for it. I'm preparing for people to bid like crazy and end up overpricing units, so i'm not getting my hopes up.

My goal as far as getting a unit is getting one that is undervalued. I'm going to look for a unit that has hidden value. Should be hard seeing as i'm a newbie but I think we have a good eye for things.

We agreed to get a PODS (Portable on Demand Storage) if needed to store the won contents. Also we should be able to find a truck to use if needed.

So we are going to have our locks, our money, and a plan. I'm going to establish a habit of setting a cap on bidding for units. Any other things we are missing or any advice you can give us?

One other word of advice, especially since it is your first auction, be prepared to get "run up" and basically pay retail for any units you win. The TV shows have made the business way to competative, so any new faces bidding on a unit will pay just above what any old timers or regulars feel is "break even" based on what they see. Once the regulars drop out, now you have to bid against any other enthusiastic newbies, cutting even more into any potential profit. Your best bet is to try to win a cheap junk unit or gamble on a unit with very little in it so you don't lose much money. It's a lot better to get "run up" on a $100 unit that only yields $50 in return, and gives you a little bit of experience; then to get caught up in the frenzy and drop $800 - $1000 on a unit that takes hours and hours to clean out, sort, dump, & sell and then only yields $500 in returns. I took me about a six to eight months to build relationships with the regulars for me to not get "run up" on the junk to marginal units and I still have to fight tooth and nail with the regulars and the newbies for any unit that looks decent.

I don't know what part of the country you are in, but hopefully it is not as competative as where I live. 

Two pairs of eyes are always better then one.  Can cover more area and spot something the other didn't many times.  Even my daughter can spot items at times that I don't.  Or being a teen her interest and knowledge run different from mine.

I normally bring the following things to auction:  pen, paper w/ listings, flashlight, (hot hand packs, umbrella, hat, etc) depending on weather.

In truck in case I buy a unit:  a few totes, roll of trash bags, hand sanatizer, disposable gloves, work gloves, and a few tools.  I recently added a pack of rubber tip closures that you can use to cover open oil bottle spouts, gear oil, etc.

Good luck to you.

the rubber tips sound like they come real handy often

I have to agree with craiglstauction    

Two pairs of eyes are always better then one.  Can cover more area and spot something the other didn't many times.  Even my daughter can spot items at times that I don't.

me and my wife was at 2nd auction and i was fixing to bid on this 200 dollar locker, had deep freezer and among other things.  I couldnt tell if it was any good or not.  Looks borderline okay and junk. 

my wife pointed out Mission of (my town)  which is a charity house in our town - magnet on the freezer and sticker on the chairs.  I finally see them and determined it was a junk buy (dumpster bound locker). 

I waited till the guy paid and I asked him if i can look.  He was gracious enough and let me look deeper in the locker,  I couldnt find nothing that is worth mentioning. 

I told him, good luck and was nice to him prior leaving. 

Didnt even say its a junk locker or anything.  kept my mouth shut. 


when i got in the car, i thanked my wife for noticing that magnetic sign and stickers.  that was a give away. 


 

the rubber tips sound like they come real handy often

Ya, I was in Columbia, SC w/ father at Northerntool to get some stuff since it's not in our area.  Was just looking around and came upon them.  Was like, dang - I could of used those last week.  Had bought a unit w/ lots of hydrolic oil bottles that were open and no cap for the tip.  Will be useful for caulking tubes and items like that.  I always buy new tubes but people will buy partial tubes all day long at the flea for home repair on the cheap.  Think I paid $4.50 for a can of 25, so .18 cents each.  Makes the tubes look more "taken care of" and may even up sales.  Who knows, worth the investment just to not make a mess all over my truck or trailer.

Two pairs of eyes are always better then one.  Can cover more area and spot something the other didn't many times.  Even my daughter can spot items at times that I don't.  Or being a teen her interest and knowledge run different from mine.

I normally bring the following things to auction:  pen, paper w/ listings, flashlight, (hot hand packs, umbrella, hat, etc) depending on weather.

In truck in case I buy a unit:  a few totes, roll of trash bags, hand sanatizer, disposable gloves, work gloves, and a few tools.  I recently added a pack of rubber tip closures that you can use to cover open oil bottle spouts, gear oil, etc.

Good luck to you.

Oh you're one of those guys eh?  It's funny, Don and I always say we need to set up a box so we're ready if we buy a unit.  4 months later we still say that!  It's usually "you got the cash, locks?"  'Yeah!'  "Let's go!!!"  One of these days......

And can't agree more on the extra set of eyes.  We all see things differently.....well except of course when it's a single washer & dryer.....even then......

 

Yep - I'm one of those guys...or tries to be.  Keep a pretty large first aid kit in my truck, big jack, jumper cables, etc.  Thinking of getting a trama kit from Gales.  I seem to run up on accidents that have just occured many times.  That and I work with 100+ women.  So they are always looking to me to change a tire or jumpstart a car.  Thus I try to stay prepared.

So I have decided to move the day to Wednesday because there are more auctions, more units, and the locations are closer to my house. All auctions are within 15 miles from my house; this is very exciting. Tuesday turned out to not offer what I expected. Made some phone calls and did some research to see that Wednesday seems perfect!

My friend is aboard, a long with my Mom's boyfriend. If we can stick for the whole circuit, we will get a chance to see upwards of 10-15 units. I do not expect to get a unit, but if I do, it'll have to be special.

I'm super excited!

Good luck.

so how did it go?

Hey guys! Sorry it took so long to reply.

The auction day went well. We saw I think about 8 units at 5 or so facilities. All of them sold for well above our cap, and we were surprised at how much people were over paying. The most intriguing unit went for 875$ because it had 5 cases that looked like potential music instrument cases. Still too much money though.

I am still excited and staying positive. We set our cap, threw out some bids but they were dwarfed in no time. We have no problem passing on units that sell for a lot and only contain junk.