Storage Auctions

Was this a one time deal? or my noob mistake?

Was this a one time deal? or my noob mistake?
« on: September 16, 2011, 03:01:33 AM »
so i went to a packrat storage auction and right off the bat i see a 150 gallon fish tank and compound bow and some antiques in the corner along with very large mirrors. needless to say i came in with the tactics of wanting to wait for the bidder to say going once going twice and then id come in and start bidding instead of going against several bidders at once and avoid racking up the price even more.
anyway as i waited for that going once going twice the auctioneer didnt say the words i was waiting for and said sold , the unit sold for 200 bucks ( super clean and profitable unit)
i was thoroughly upset that i lost out on this one but my question is has this ever happened to you?
is this a common thing for them to say going once going twice or was this a big noob mistake?

thank you ???

Offline Cobia

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Re: Was this a one time deal? or my noob mistake?
« Reply #1 on: September 16, 2011, 07:35:07 AM »
so i went to a packrat storage auction and right off the bat i see a 150 gallon fish tank and compound bow and some antiques in the corner along with very large mirrors. needless to say i came in with the tactics of wanting to wait for the bidder to say going once going twice and then id come in and start bidding instead of going against several bidders at once and avoid racking up the price even more.
anyway as i waited for that going once going twice the auctioneer didnt say the words i was waiting for and said sold , the unit sold for 200 bucks ( super clean and profitable unit)
i was thoroughly upset that i lost out on this one but my question is has this ever happened to you?
is this a common thing for them to say going once going twice or was this a big noob mistake?

thank you ???

Just part of learning the game! Thats why I and others recommend going to the auctions for a couple of months and learing the process before bidding on a unit.

Every auctioneer is different. You just have to get to know the styles of the auctioneers in your area. Some like to move quickly and do the traditional auctioneer chant. Others will let the bidding crawl along so that everyone who wants to bid the maximum they want to spend gets a chance. Some don't even auctioneer, they just let the crowd bid amongst themselves till the bidding stops.

Not a noob mistake, just part of learning the business.

Re: Was this a one time deal? or my noob mistake?
« Reply #2 on: September 16, 2011, 07:36:23 AM »
Most auctioneers I have encountered do not say going once, going twice etc. Many will say something like last call or all done but many will just say sold (especially if the facility staff is handling the sale) if there are no bids for 15- 30 seconds.
If there has been consistent bidding and then there is a pause, you need to put your bid in or this may happen again.

Re: Was this a one time deal? or my noob mistake?
« Reply #3 on: September 16, 2011, 07:55:04 AM »
Agree with both above.  Each seller (remember, not all are auctioneer's), is unique and has differing ways to do things.  Some will call two hundred, two hundred, two hundred sold for 175, others will do the going once, twice (I've rarely seen that).

Re: Was this a one time deal? or my noob mistake?
« Reply #4 on: September 16, 2011, 09:43:02 AM »
I agree...I've yet to buy my first unit but have attended a few auctions. I have also worked at many vehicle auctions(my previous employer was affiliated with the special olympics vehicle auction) You have to be ready for that "pause" some will give you the "once, twice" deal, others wont. Sounds like that was a good unit for the price, but let it go and don't look back. This is a game where you need to be looking forward...my best advice is to make the dicision quickly that your going to buy or pass. If you decide you want it, Set your max and get in the bidding, this way the auctioneer at least knows your in the game and will come back to you.

Re: Was this a one time deal? or my noob mistake?
« Reply #5 on: September 16, 2011, 10:47:03 AM »
thank you all for your responses, i got the next auction on the 19th so hopefully i see a good lkr to snag.

Offline ChefJ

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Re: Was this a one time deal? or my noob mistake?
« Reply #6 on: September 16, 2011, 01:05:10 PM »
Classic Doan :
Everybody seen it ALL DONE!!!!              SOOOOOLD

I find it funny that you were trying to steal it last second and didn't.  Sorry.

Offline acman

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Re: Was this a one time deal? or my noob mistake?
« Reply #7 on: September 16, 2011, 01:47:50 PM »
Classic Doan :
Everybody seen it ALL DONE!!!!              SOOOOOLD

I find it funny that you were trying to steal it last second and didn't.  Sorry.
Same here.  If the person your bidding against really wants it, your $5 and $10 last second bid isn't going to snatch the unit.

Re: Was this a one time deal? or my noob mistake?
« Reply #8 on: September 16, 2011, 03:22:34 PM »
But it will eliminate one bidder

Re: Was this a one time deal? or my noob mistake?
« Reply #9 on: September 16, 2011, 03:45:43 PM »
Each facility is different.  So you really have to learn the ropes at each.  Most auctions in my area are done by the regional manager or such.  So some units it's any other offers???? sold for X to Y.  Others do just a last call, not a countdown.  Yet, another will do a "any other bids", "have 200 looking for 220", pause, then sold for 200.  It just all really depends.

One of the large caravans in the are also make you do increases of at least $10.  So none of the 70 to 75, or 70 to 71 bids that just take longer.  Was funny as I was just thinking they should do that before the first auction when he announced it.

Re: Was this a one time deal? or my noob mistake?
« Reply #10 on: September 16, 2011, 03:46:55 PM »
I am not sure what you mean by it will eliminate one bidder. Until the hammer drops (or the auctioneer says its sold), anyone can get back into the bidding. Many times I have dropped out only to have a change of mind and jumped back in to the bidding war.


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