The Future of Storage Auctions Has NOT arrived; online auctions will not prevail

I have little knowledge about cars and no interest in buying and selling them.

Part it out and save all of those headaches you mentioned. Parting it out generally yields more profit than selling it as a whole anyway. As to whether or not it has an engine, just look at the spacing from the top of the tire to the fender. If there is no engine, hence no weight, there will be a significantly larger gap above the front tires versus the rear tires.

But you are correct the picture dont show inside but do show speedometer and to me they are hiding something and when I called they would not answer about the interior.

Yep, doesn't show under the hood, doesn't show the interior...except for the odometer. I think it had to be a conscious choice not to show the dash, seats, etc. That certainly is EDITING (staging) for effect.

And if it was simply a mistake not showing the interior or under the hood, what does that say about the competency of the auctioneers.

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In my area they let us walk in to the unit, walk around the car, open it if unlocked, open the hood and the trunk. Try that on an online auction. Can't be done, especially if they don't show pics which to my way of thinking would be obvious choices to make....UNLESS it would reduce the $ amounts that would be bid ! 

Edit:

Forgot to mention that unlike the regular box lockers we buy, in my area if you can go inside and really look at a car, you can certainly TOUCH it. That would answer the question about what the surface of the car in question here is like.

Its just a Vette that was stored for 30 years... Nothing collectable about it.

I beg to differ, if it's been is storage for 30 years and not out on the road being driven. Collectors go crazy for low mileage vehicles with original motors, transmissions, rear axles, etc.

Collectors go crazy for low mileage vehicles with original motors, transmissions, rear axles, etc.

Now all that is needed is to know if all those items exist.

The "Sealed Online Bids" site failed (well, merged with "Storage Battles") , and so will this one........

WHY, MAY YOU ASK???

I'm surprised Travis hasn't answered these assertions made in reply #32 above which primarily assails online auctions themselves and by proximity Travis new website designed to service this aspect of auction buying/selling.

Maybe BWD can let us know what this sells for. When I have gone back to look at final sale prices on some of the lkrs he has shown us here the final bid doesn't show up after the sale has been made.

Maybe BWD can let us know what this sells for. When I have gone back to look at final sale prices on some of the lkrs he has shown us here the final bid doesn't show up after the sale has been made.

As of now car sits at 2,500 but I have bid on the unit above so I will let you know what vette sells for.

Yes, I have assailed online storage auctions in general, because the format is ripe for shill bidders and scammers.

Also, If we as buyers at a live auction cannot look past the door threshold, than why on earth can a facility go inside a unit and move items around to get better pictures for an online auction?

And, at a live auction, one can see closely if there are finger or hand prints in the dust on merchandise or boxes, or if someone entered the unit. The disclaimer (at least on one of the sites) is "the unit is in the same condition the tenant left it in". Then there are pictures on the same site where items have been obviously moved around.

A savvy, experienced buyer can detect hints to where a unit has been searched and stripped of all its valuables easily. Unfortunately, only a small percentage of buyers possess this knowledge. And the buyers who do not are the ones who spend money more foolishly.

Another point (this is true with any storage auction): Facility owners and managers know the status of the tenant, and whether they will ever be back (to pay what is owed to avoid their items being sold at auction). In some cases, the tenant abandons his or her merchandise to the facility, simply because they are too far behind on the rent. Smart managers will have them fill out a form, thereby legally releasing the room and contents to the facility.

A loophole also used by facilities is to send a "eviction notice" to tenants stating they need to pay their back rent and fees within 30 days, or then they forfeit their unit. Then the unit is repossessed, and sold at auction at a later date. In this case, the facility is 100% assured the tenant will never be on the property again, and can have free reign to all the items inside. (Of course, there are legal notice laws from state to state which may prohibit this). 

Again, if someone saw a jewelry box or gun / rifle case inside a unit, don't you think they would take a peek inside? Simple fact: The folks who run and manage storage facilities are underpaid. It you were having a hard time making ends meet, and saw merchandise worth lots of money inside one of your units (especially ones where you know the tenant will never be seen again), wouldn't you be at least tempted to take the loot??

I have been to more than one auction where the facility manager rounds up the "heavy hitters", and mentions that "I have a private unit full of antiques and furniture for sale. Call me after the auction, and then you can come by and take a look". Where do you think they find these antiques and furniture to fill these lockers??

Yes, I have assailed online storage auctions in general, because the format is ripe for shill bidders and scammers.

Also, If we as buyers at a live auction cannot look past the door threshold, than why on earth can a facility go inside a unit and move items around to get better pictures for an online auction?

And, at a live auction, one can see closely if there are finger or hand prints in the dust on merchandise or boxes, or if someone entered the unit. The disclaimer (at least on one of the sites) is "the unit is in the same condition the tenant left it in". Then there are pictures on the same site where items have been obviously moved around.

A savvy, experienced buyer can detect hints to where a unit has been searched and stripped of all its valuables easily. Unfortunately, only a small percentage of buyers possess this knowledge. And the buyers who do not are the ones who spend money more foolishly.

Another point (this is true with any storage auction): Facility owners and managers know the status of the tenant, and whether they will ever be back (to pay what is owed to avoid their items being sold at auction). In some cases, the tenant abandons his or her merchandise to the facility, simply because they are too far behind on the rent. Smart managers will have them fill out a form, thereby legally releasing the room and contents to the facility.

A loophole also used by facilities is to send a "eviction notice" to tenants stating they need to pay their back rent and fees within 30 days, or then they forfeit their unit. Then the unit is repossessed, and sold at auction at a later date. In this case, the facility is 100% assured the tenant will never be on the property again, and can have free reign to all the items inside. (Of course, there are legal notice laws from state to state which may prohibit this). 

Again, if someone saw a jewelry box or gun / rifle case inside a unit, don't you think they would take a peek inside? Simple fact: The folks who run and manage storage facilities are underpaid. It you were having a hard time making ends meet, and saw merchandise worth lots of money inside one of your units (especially ones where you know the tenant will never be seen again), wouldn't you be at least tempted to take the loot??

I have been to more than one auction where the facility manager rounds up the "heavy hitters", and mentions that "I have a private unit full of antiques and furniture for sale. Call me after the auction, and then you can come by and take a look". Where do you think they find these antiques and furniture to fill these lockers??

The shill bid only help the owne of the website so the company can get a big chunk of the 10% and no really to much for storage unit company excexpt lein is paid off. Thing I dont like and I will say this again is the 9 days for end of auction and use of CC/cash. And why do people like to over bid online when you cant even get a good feel for the unit? This is something I just cant figure out and if someone has an answer for me I would really appericate it.

why do people like to over bid online when you cant even get a good feel for the unit? This is something I just cant figure out and if someone has an answer for me I would really appericate it.

My observation is that some of the people get caught up in auction and can only think about winning, not about making a good business decision. As far as the rest, I think...they think, that if other people are bidding it up that high then there must be something they've overlooked and they'll find it after winning and going through the unit. In either case it's a sign of amateur bidding.

ANOTHER COMMENT ON SHILL BIDDING: There is a facility in my area which "fudges the figures" so they can profit from the proceeds. How about a tenant owing over $4000 on a 5 X 5 unit??

WHAT?? Yes. It is true. In the state I live in, any proceeds from a storage lien sale are supposed to go to the state education fund (if the facility cannot find the tenant to give him or her the overage).

So this scam artist (facility owner) puts down an exorbitant number, one the locker would never sell for, unless there are gold or silver bars in plain view. Then he is assured of a profit when the unit is sold at auction.

Of course, anyone who would stoop to this level has already gone through and pulled all the valuables out of the units anyway. Heck, he even brings one of his relatives (an old lady who is so severely out of shape, and could not even physically unload a storage unit without falling down) to shill bid. And if she does happen to end up as the high bidder, guess what? The same unit is at the next auction.

This facility is almost within walking distance from my house, and I wouldn't go to one of their auctions if you paid me. And I have traveled out of state to buy units!!!

So there are more ways than one for storage businesses to profit from auctions, whether it is illegal, immoral, or otherwise..................................

he even brings one of his relatives (an old lady who is so severely out of shape, and could not even physically unload a storage unit without falling down) to shill bid.

She could just be a money person and can pay others to do the heavy lifting.

So there are more ways than one for storage businesses to profit from auctions, whether it is illegal, immoral, or otherwise..................................

When you consider that they are there 24 hours a day, behind locked gates after hours, there are a lot of things that could happen.

A half dozen of the possible ways this could benefit a less than ethical manager have been discussed on this forum in the past.

She could just be a money person and can pay others to do the heavy lifting.

And if she is the high bidder, the unit is sold at the next auction. Also, this is the only place this person goes to. I go to auctions all over my area, and have yet to see her anywhere else.

Of course, any experienced buyer in a certain area knows who the "heavy hitters" are. Or they learn VERY QUICKLY.......

Interesting developments at the link below...first auction listed on Travis' new service. Alloro and I have posted there.

http://storageauctionforums.com/online-storage-auctions/the-future-of-storage-auctions-is-here/