Storage Auctions

Online vs. Live Auction

pawnstar01

Online vs. Live Auction
« on: December 22, 2014, 11:35:41 AM »
What's the best way to start out? Online auctions or live?

Re: Online vs. Live Auction
« Reply #1 on: December 22, 2014, 08:22:50 PM »
Most if not all of the people that contribute to the forum started out in live auctions.  Online just got off the ground within the last 6 months.

If I were you I would start out going to live auctions and only when you fully understand what you are looking at, doing, dynamics of an auction, what drives up the bid ..etc. should you venture into the online world.

I personally think online is not the way to go due to the prices and, from my experiences, pictures being different than what was on the site.

Right now in my area (Long Island) rooms are going way high with terrible quality.  If you are in this area I would hold off on buying and just go to learn the trade.

pawnstar01

Re: Online vs. Live Auction
« Reply #2 on: December 23, 2014, 12:49:20 PM »
Thanks!

Re: Online vs. Live Auction
« Reply #3 on: December 23, 2014, 06:34:09 PM »
although i agree to a point, i think getting a small unit right away is important. Something under $100. The hardest part of this game is selling the stuff. Once you figure that out you're golden. But I do agree live are better , especially for the beginner. Although less personal intimidation online. I dunno, I didn't have the option when i started out.

Re: Online vs. Live Auction
« Reply #4 on: December 24, 2014, 07:36:13 AM »
The only reason I thought he might want to watch for a little while is because of my own personal experiences.

My very first unit was purchased at my very first auction for $400.  I dreamt of riches and a hidden motorcycle and all I got was several *****s, dirty underwear in purses and bag of dried up weed.  There was a dresser that was decent but that broke being loaded into the truck.

However I just kept buying and buying until I got it right.  It was an expensive lesson but I chalked it up to startup costs.

If I had to do it over again I probably would have watched a little more and bid a little less to learn what the heck I was doing.

If you think you can spend the $100 +/- dig through a room and take your time learning how to sell everything out of that room then its a good idea.

Since I have a slight ..very slight gambling addiction thing I never could do that.  I'd buy the first one and then heck since I'm already there might as well buy another one and don't forget that really good run 20 miles away tomorrow.. have to get to that one too.

Offline Travis

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Re: Online vs. Live Auction
« Reply #5 on: December 24, 2014, 09:14:19 PM »
I think this business takes a gambler's mentality. Once you learn to "count the cards" and fold when appropriate, the odds are in your favor.

Offline MikeMilez

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Re: Online vs. Live Auction
« Reply #6 on: February 20, 2015, 06:06:37 PM »
I think this business takes a gambler's mentality. Once you learn to "count the cards" and fold when appropriate, the odds are in your favor.

That's great advice. Sometimes the best tactic is to know when not to buy, vs knowing when to buy.

As far as online vs offline, I've personally been burned more than once by online auctioneers taking misleading photos of units. There was one that was 10x30 full of boxes. They took pictures inside of 10 boxes, all of which had decent household items. I bought the unit and was shocked to discover that the remaining boxes (and there were like 100) were ALL full of paper documents. It would have been clearly obvious to the auctioneer who took the photos, but they chose not to include those in the online auction.

Another time, I got burned because I couldn't smell through the internet. While the photos looked good, everything in the unit smelled like it had been part of a homeless camp - dank, cigarette smoke, urine, feces.  I don't know, it was just disgusting.

Those are just a few possibilities when it comes to online auctions. I have gotten good at paying attention to the details. If say, there's a close up of a nice looking dresser in one photo, I'll find that dresser from a different angle in another photo and see that, oh - it's missing a drawer, or the side is all jacked up, etc.

If you're just starting out, go to live auctions with no money and just watch and learn for at least a month.  Get to know people. Find out how they did on a unit. Eventually you'll start to see what the pro's are buying vs what the newbies are buying.

Offline Henry

Re: Online vs. Live Auction
« Reply #7 on: March 15, 2015, 07:12:08 PM »
Iíve never even heard of online auctions for storage units.  How is the stuff handled?  I mean, do they ship the stuff to you?  I suppose the buyers may have to be locals to go and pick up the stuff.

Offline Travis

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Re: Online vs. Live Auction
« Reply #8 on: March 15, 2015, 09:40:03 PM »
Iíve never even heard of online auctions for storage units.  How is the stuff handled?  I mean, do they ship the stuff to you?  I suppose the buyers may have to be locals to go and pick up the stuff.

No, they don't ship the merchandise, you have to go pick it up. Most buyers only bid on units within their immediate area.

Offline Henry

Re: Online vs. Live Auction
« Reply #9 on: March 17, 2015, 02:33:20 AM »
That very well could be.  I have to be honest.  Iíve never been to a Hooters restaurant.  Iíve heard quite a lot about the place.

Offline Travis

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Re: Online vs. Live Auction
« Reply #10 on: March 17, 2015, 09:18:41 AM »
That very well could be.  I have to be honest.  Iíve never been to a Hooters restaurant.  Iíve heard quite a lot about the place.

The chicken wings are good...(Insert punchline here Alloro)

Offline alloro

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Re: Online vs. Live Auction
« Reply #11 on: March 17, 2015, 10:00:59 AM »
The chicken wings are good...(Insert punchline here Alloro)

Personally I prefer fillet of inner thigh.

Offline MikeMilez

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Re: Online vs. Live Auction
« Reply #12 on: March 23, 2015, 04:14:36 PM »
That very well could be.  I have to be honest.  Iíve never been to a Hooters restaurant.  Iíve heard quite a lot about the place.

This comment came out of left field... or did I miss something?

Offline Travis

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Re: Online vs. Live Auction
« Reply #13 on: March 24, 2015, 05:01:07 PM »
This comment came out of left field... or did I miss something?

Actually, I vaguely remember making a comment about the numerous bikinis found in the unit....how the tenant may have been a bikini model or worked at Hooters.

Obviously my post was deleted....I don't think any of the mods have the ability to delete my posts, so maybe I accidentally deleted it somehow.


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