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Things getting better?

Things getting better?
« on: April 23, 2012, 05:25:14 PM »
Day job has been very busy, so I was forced to take a few months off from auctions. When I left back in December/January prices were totally outrageous, basic crap units going for $600 to $800.  Finally had some time today to hit two going through my town and a neighboring town one after the other in the Boston/MetroWest area. 

Maybe it was just today, but it seemed like things have come a little back to earth since I was gone. Are you all seeing the same thing or was this just a freak day.

First auction had only 1 unit available.  Unit was TOTALLy filled to the doorway, tons of boxes. Stuff did not look nice from the door, but there was so much volume that a few months ago it would have easily gone for $750 plus. Today it ended up going for less than $300.  Next auction had two units. FIrst was full of used mattresses, so there were no bidders at all (costly to get rid of them here in Mass. and they legally cannot be sold).  Second unit was very nicely boxed up full apartment unit. Tons of stuff, all seemingly in decent shape.  Unit  would have gone for over a grand a few months ago, today it went for just over $600 (still a little high, but not ridiculously so). 

I was not interested in either of the units, but I was happy to see that some of the ridiculous inflation was gone! Is this a trend, or was today out of the ordinary.

Re: Things getting better?
« Reply #1 on: April 24, 2012, 07:04:41 AM »
I think it is definitely trending that way. Prices are becoming more reasonable here (South-Central PA) and the crowds are getting smaller. With a smaller crowd at least the auctions take less time if nothing else. We have been picking up cheaper units the past 3 or 4 months to continue to turn a profit. The units we have won haven't been the best, but they also haven't been over priced to the point where it is dangerous to win it. I think the intensity of the fad is starting to decrease and over time (especially after summer) the prices should get back close to market value.

It is good to hear that others are seeing similar things!

Offline Cobia

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Re: Things getting better?
« Reply #2 on: April 24, 2012, 07:28:52 AM »
The last auction I went to, last week, was like things were back to before the TV shows. 2 units went for $5, 1 went for $35, 1 went for $60. A couple of others less then $200. Of course the only one I was interested in was the most expensive of the day. Me & another regular went back & forth to $255, I was going to let him have it there, but another regular (buddy of mine) jumped it to $275, so the first regular ended up winning it for $280. There was another auction being held at the same time so the crowd was small. About 7 regulars & 9 newbies. The incredible thing was NONE of the newbies jumped in to run the prices up! A newbie did win the $35 unit, but it was a reasonable price. I have my BIG caravans this Thursday & Friday so that will be a true test to see if prices and crowds are trending downward, or if we are just getting some random lucky auctions every now & again that have low turn out and reasonable bidding.

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