Auction Scene #3...March, 2013

March is here (almost) with spring symptoms like budding trees and kite-flying winds !

More tax refunds to be spent, more "yupps" to be shouted (but not by Dave Hester -- at least on TV) and more trips to the dump !

Missed the first auciton of the month today due to work.  Why people are starting to schedule meetings at lunch time is lunacy.  Do have my 7 facility auction next week.  Can't wait for it.

I went to one of 5 possible auctions today because it was the closest and often has good lockers. It did have one good locker.

It also had 50 people....40 of whom were new and got most of the lockers at double their worth.  The 10 x 20 that was last looked very good and I thought (based on earlier buys that went for incredible prices) that it would go for $1700 to $2200). It went to a regular who paid $2300. If the 10 or so boxes have great stuff in them he will make money. The big stuff would only pan out at around $800 or so.

Three of the 5 lockers there were 5 x 5s and went in the $150 to $300 range. One I remember had two bikes ($75 each new) and one box and one bag. Went for $250.  A 10 x 10 (not full) went for $800. Unbelieveable, but true.

Nope, this biz is going nowhere for me in CA. Hopefully other states are in better shape.

Meanwhile, I'll keep picking one item at a time.

Ok, so far it's a mixed bag. Auction early this week, all garbage lockers except maybe two, ALL went WAY to high, especially the garbage lockers. 

 Auction yesterday, average units, good but nothing spectacular, just your bread n butter flea market lockers, prices were actually reasonable to slightly on the LOW side!    #crossingfingers

Yesterday I bought a house unit for $30.. It was the only unit for sale at that facility. The other 3 bidders were auction regulars. The locker had an armoire, 2 recliners, one went in the trash, an elliptical machine without power source, a lamp and 2 portable closets, new in box. Not a HUGE money maker, but I expect to make $200.. Not bad for a half day's work!

It seems that those with the tax return money are going to the most obvious resources to look for available auctions.

If you know how to find auctions other than doing a Google search, there are still good values out there even around tax time!

Well the feeding frenzy is here.  Thursday I took off from work for the 7 facility auction.  Something told me not to waste my day.  Anyways - 6 units at first location, 1 at second, 3 (was 4 at check in) at 3rd, and then single units the rest of the day.  We had a good 40+ people, with a few newbies mixed in.  Big newbie was this family (father, mother, twin boys, and another boy).  The "kids" were bidding on everything and just driven up the price.  They didn't win anything but can tell they had been watching the shows.  One of the twins even had a lock on either side of his zipper on jeans.

Anyways - prices were out of this world.  Only other drama we really had was one of the new regulars who has a store 30+ miles or so away.  One of the older returning regulars paid $600 for a unit, was told had a sister unit.  In the sister unit was the drawers for the chest, etc. and some boxes of toys in back.  I figured $50 and I'd give drawers to guy (semi-friends).  This newer guy jumps bid to $100 quickly and keeps going to a tune of $180.  Most of the regulars were pissed.  This is the same guy who last month bid up my daughter on a trash unit no one wanted just to "mess with her".  His stated purpose is to keep everyone "honest".  Think he is more pissed off that he doesn't win units and hauls his big truck and trailer 30+ miles each auction.  After these stunts he is going to get shut out IMO.

Buddy bought a inside 10x10 for $725.  Thought we had it at $500 until another newbie started to get in on the bidding.  He should still do well - I counted $1k easy if not more.  Just $250 or so profit vs a $500+ one.

Another auction on Saturday - silent.  Will see if my luck changes.  Yard sales are doing better for me.  $90 last week for a drop leaf table, 2 chairs, decorative water pitcher, and a hutch.  Sold the table/chairs that day for $90.  So the rest is profit.

Went to 3 auctions in Raleigh today. Saw 11 units. Bid on 1. That unit had a radio flyer ride on toy, looked vintagey, a girls bike with a banana seat, didn't look terribly old though. Also had furniture like a china cabinet, a huge armoire and another dresser but couldn't see the drawers.

I bid up to $150. The auction was about 20 miles from home, would have had to rent a truck and hire some help. Ended up selling for $180.

Only other excitement for the day was the very last unit of the day. Auctioneer looked inside a small side table with door (door was open) and found chicken carcasses without the head and a bunch of other voodoo type stuff. I never saw someone jump and move so fast!

Well today was a complete bust.  23 units in the paper for my 3 facility auction.  Get there and we have 1 unit - and it was so/so.  1/2 empty with a washer covered up, small night stand, and a few boxes.  I didn't stick around as I knew my $53.01 bid wasn't going to win.

Well today was a complete bust. 

Sorry to hear that. If I recall correctly this was one of two favorite sets you had. From 23 to 1 is a huge drop.

But....there are always more auctions ! 

Sorry it was a bust for you.  I too am hoping that this month brings some reasonable opportunities, but I'm afraid that like Movieman my expectations will fade with the sound of more "Yups" and crap lockers going for 10 fold.....

Last couple of auctions were busts as well. $50-$150 units going for $250-$500! I guess that one auction this month was an anomaly, & the newbies & novices haven't run out of tax rebate money yet.

Saw 22 units today. Total bust. Either too much volume or just plain old crap stuff. Ridiculous bidding too. One unit had 3 rubbermaids in it. It went for $150..

This last weekend I talked to two sellers at the flea where I sell. They have been buying auction lkrs for the same 9 plus years I have...we all met at auctions and subsequently started selling at the same flea market.

I mention the time factor because they both told the same story about an auction they had been to. It was 50 miles away and was a horror story.

One seller (person "A") said he would have bid $800 on a big locker that he thought he could double or triple on. The bids started at $500 and quickly escalated to $1500, but it gets better. The final bid was ....wait for it....$3,500! And, that bid came from a newbie. His final total was around $4,000 as he had to pay a buyer's premium of $350 and sales tax (varies by county in California). So, if my experienced friend is any judge at all (AND HE IS) that doesn't look like a winner to me.

The second seller (person "B") whom I talked to at his stall 10 minutes later contiued the story in this way.  The $3,500 buyer and one other buyer of another locker BOTH didn't have enough money with them and the AUCTIONEER let each of them go off the facility to get more money to pay their bills.  This bothers me a bit, but as I never would have paid that much for those particular lockers, I guess I wouldn't complain, but if it had been on a different scale and I HAD the money and they didn't I might feel differently about it.  Rules are rules, BUT rules are meant to be bent I guess.

Seller "B" also told of another locker that went for 3 times what it should have (to a different newbie) but I've forgotten the dollar figures.  Seller "B" paid $800 for one and he hasn't cleaned it out yet, so no report on the contents.  This guy buys A LOT of lockers and has a pretty good record, but he has also had some phenomenol BUSTS which he has been honest about.

So, it goes on. Glad I made the choice at the first of the year to try to make picking my main buying thrust. With prices like that there's little to no money to be made. Maybe there will be more stories to come about the $3.5 K buyer.

Since the first of the year I am starting to hear more rumors about people bidding on lockers and not having the money to pay for them, refusing to pay for them & just leaving, & asking to go get more money.

I think I am going to start going in the office after each auction and make sure the units get paid up or else I am going to claim back-up bidder status.

Since the first of the year I am starting to hear more rumors about people bidding on lockers and not having the money to pay for them, refusing to pay for them & just leaving, & asking to go get more money.

I think I am going to start going in the office after each auction and make sure the units get paid up or else I am going to claim back-up bidder status.

Funny that you mention that. We had a unit go today for $5,500.. Had lots of real nice high end furniture, professionally packed. It was owned by a moving company for one of their customers who refused to pay for the move.

There were 2 main bidders, one of which said after the sale that she didn't even have that much money on her. I asked why she kept going.. She said "To make him pay.."     I asked, what if he stopped at $5,400? She said, "Oh well, if I don't got it, I don't got it. What can they do?" Yeah, real educated answer.. I was in total shock..