Storage Auctions

First Storage Auction..........

First Storage Auction..........
« on: July 14, 2011, 02:37:03 PM »
I went to my first auction today that I intended to bid.  I must say.....Jesus H Christ...are people that f&!%&^%! stupid?????

Went to the first auction at 10 am...30 people or so in attendance...The first locker looked really good...10x20 neatly organized, alot of boxes, you could see tools and "guy" stuff...Went for $850....The next 5 were all ****....and went for over 600 each.. Not one should have brought more than 100-200 in my opinion..people showing up in their personal vehicles bringing the family, ....only a couple of recognizeable regular locker buyers, its like a carnival or something...knock down the bottles and win a teddy bear...the only problem is the teddy bear is worth $10 dollars and they are paying $100 for the extra balls to knock down all the bottles just to say they knocked down all the bottles.
The next auction:  10 units...all no more than $200 on a gamble....average price:  $600.
The shows have really distorted the values of the lockers ....I sincerely hope that it levels itself out back to a dollar amount that is in relation to what the units realistically are valued at.

I know now that I have to increase my maximum dollar output if I want to compete in purchasing lockers...but I have to decide if I want to pay just for the thrill of winning....See my point....???

Hopefully today was a fluke....

Will let you know.



Offline jrossjr79

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Re: First Storage Auction..........
« Reply #1 on: July 14, 2011, 02:56:25 PM »
Seems that crowd was generated because of the shows, everyone seems to think every unit has Gold Bars in it. lol

Re: First Storage Auction..........
« Reply #2 on: July 14, 2011, 03:10:28 PM »
don't over pay just to win a unit.Be patient the time will come.Nothing like kicking yourself because of buyers remorse.

Offline MovieMan

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Re: First Storage Auction..........
« Reply #3 on: July 14, 2011, 03:27:00 PM »
I went to my first auction today that I intended to bid...are people that ****ing stupid?????



To answer your question, YES !

Welcome to our world as of November/December, 2010 when the tv shows came on.
With new seasons of both AH and SW coming next week (July 19/20) I believe a new wave of newbies will
be born.

Monkeybusiness makes a good point...don't buy just to get one...you'll get one in time and hopefully you will
have made a good decision.

Was this in Sacramento or nearby ? Sacramento has some heavy-duty bidders so don't be surprised if you see
more of it.



Re: First Storage Auction..........
« Reply #4 on: July 14, 2011, 04:26:53 PM »
even as a new guy and seeing this in my area, I don't waste my time...I watch these guys throw $3-400 more than what the locker looks to be worth, but I have yet to walk away from an auction upset even if I do walk out with none bought. I still have the money for another day.

Re: First Storage Auction..........
« Reply #5 on: July 14, 2011, 04:36:16 PM »
To answer your question, YES !

Welcome to our world as of November/December, 2010 when the tv shows came on.
With new seasons of both AH and SW coming next week (July 19/20) I believe a new wave of newbies will
be born.

Monkeybusiness makes a good point...don't buy just to get one...you'll get one in time and hopefully you will
have made a good decision.

Was this in Sacramento or nearby ? Sacramento has some heavy-duty bidders so don't be surprised if you see
more of it.




Yes it was the Sac area....The good thing about this area is that there are at least 3  days of auctions a week with 2-4 facilities on the block per day within a 30-50 mile radius.  I just hope that with the numbers of auctions available  these people will get tired, bored, broke, discouraged or whatever just so they stop coming..
I wont purchase a locker just to purchase a locker.....I was just hoping to hit the ground running today.  Damn the unrealistic reality shows..... ;D

Offline MovieMan

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Re: First Storage Auction..........
« Reply #6 on: July 14, 2011, 04:44:59 PM »
Yes it was the Sac area....The good thing about this area is that there are at least 3  days of auctions a week with 2-4 facilities on the block per day within a 30-50 mile radius. 

I just hope that with the numbers of auctions available  these people will get tired, bored, broke, discouraged or whatever just so they stop coming..

Well, I've been buying lkrs in the central valley for 7.5 years and they haven't gotten tired, bored or broke yet, but I'll have to admit I GOT DISCOURAGED by Sacramento proper myself. I haven't been there for about 5 years !


Re: First Storage Auction..........
« Reply #7 on: July 14, 2011, 06:20:52 PM »
Great... Sacramento is where I am... Hoping to go on a circuit for my first lookey loo on the 26th.  As it's the week after the shows start, I am expecting it to be jam packed!

Offline Bandit

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Re: First Storage Auction..........
« Reply #8 on: July 14, 2011, 09:46:11 PM »
  We have gotten DISCOURAGED enough in the last year over the INSANE Bids on Total Junk , that We only stop by an Locker Auction if We have " Other Business "    in the area for a Chuckle .                                                                                                              Ex.  On Our way to a general auction in Maine or New Hampshire and there is a Locker Auction  in a town close to a  Lobster , Clam Shack , or Homemade  Ice Cream  Stand .     ;D
  It is only going to get worse , with all the " Good Finds "  the shows are uncovering all over the country . ( Two of the shows  were just here in Mass. )
  Plus the " NEW " Storage Hunters show on "Not" TruTV   ::)
Bob

Offline Cobia

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Re: First Storage Auction..........
« Reply #9 on: July 15, 2011, 09:12:20 AM »
@ Bayernscr,

"Went to the first auction at 10 am...30 people or so in attendance...The first locker looked really good...10x20 neatly organized, alot of boxes, you could see tools and "guy" stuff...Went for $850....The next 5 were all ****....and went for over 600 each.. Not one should have brought more than 100-200 in my opinion..people showing up in their personal vehicles bringing the family,"

I know what you mean. I think the cost of living is more in your area then mine, so to see obvious new husband and wife teams showing up to the auction with 2 or 3 or 4 or more stair-step kids and then dropping $1000 on most likely their first units, and then they are excited about it!!!...I just think, oh those poor souls, they have no idea what they just did!

I have seen buyers remorse set in immediately a couple of times already. One senior couple dropped $750 on a stacked 10 x 20, but there was a 10% buyers premium they forgot about. oops, that will be $825. When I went in the office to pay for my $120 unit, $132 with buyers premium, they were both shaking like they just stepped out of a swim in Lake Michigan in December!

Another couple dropped $2000 on a stacked out 10 x 30. Looking at what was in there, tons of furniture, a seasoned locker buyer with the ability to move, sort, and several sales channels would make good money on that unit, but the couple that won just stood there dumbfounded after they realized they had one. People kept trying to talk to them about the unit they won, "So do you have a moving truck and some guys to help you" "Do you own a thrift store?" They stood with thier mouths open just staring for a few minutes. We all started walking to the next door and the couple was heading to the office (I guess one 10 x 30 for $2000 was enough for the day) the guy was just drenched in sweat! Now it was a hot day, but just a few minutes earlier he was only glistening, and now he was drenched and he did'nt move the first box yet!

Re: First Storage Auction..........
« Reply #10 on: July 17, 2011, 04:43:31 PM »
I actually co-sign to the original post on this topic, asking the question: have the shows distorted the value of lockers? I went to my very first auction yesterday in the deep country at a mini-storage. 50 people or so (as expected) with about 4-5 people bidding. No crazy bids on lockers that contained your everyday auto parts for scrap, out-dated furniture, tote boxes full of VHS tapes, etc. First bid on a trashy 5x5 locker, the auctioneer (the owner) had to coax a bid out of a very silent group of bidders and bystanders. Locker went for $40.

One crazy thing of note: upon arrival ( I was the 6th one to shop up, half hour early), all of the locks had been cut off, and folks were allowed to go inside of each unit and start touching boxes, all sorts of stuff. There was one unit that a lady bought (had a couple of mirrors, wheelchairs, and 2 dressers) BEFORE the auction even started! Kinda weird, but I guess that anything goes at privately-owned facilities during auction time.

Offline jrossjr79

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Re: First Storage Auction..........
« Reply #11 on: July 17, 2011, 11:46:56 PM »
I actually co-sign to the original post on this topic, asking the question: have the shows distorted the value of lockers? I went to my very first auction yesterday in the deep country at a mini-storage. 50 people or so (as expected) with about 4-5 people bidding. No crazy bids on lockers that contained your everyday auto parts for scrap, out-dated furniture, tote boxes full of VHS tapes, etc. First bid on a trashy 5x5 locker, the auctioneer (the owner) had to coax a bid out of a very silent group of bidders and bystanders. Locker went for $40.

One crazy thing of note: upon arrival ( I was the 6th one to shop up, half hour early), all of the locks had been cut off, and folks were allowed to go inside of each unit and start touching boxes, all sorts of stuff. There was one unit that a lady bought (had a couple of mirrors, wheelchairs, and 2 dressers) BEFORE the auction even started! Kinda weird, but I guess that anything goes at privately-owned facilities during auction time.

That would be one I would stay away from. IMO anyway, take it for what it is worth.

Re: First Storage Auction..........
« Reply #12 on: July 21, 2011, 07:29:02 PM »
Was going to an auction at a Public Storage facility this morning yet was very surprised at the outcome. 90 minutes before auction, I call the facility and the lady says that everything is a go, auction still on. I show up at the facility 20 minutes prior, and the lady says no, not having it today due to legal compliance issues, etc. I tell you what, I felt like Clark W. Griswold arriving at Wally World this morning but I guess that's all a part of the biz.

Offline Drew

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Re: First Storage Auction..........
« Reply #13 on: July 21, 2011, 07:39:26 PM »
Was going to an auction at a Public Storage facility this morning yet was very surprised at the outcome. 90 minutes before auction, I call the facility and the lady says that everything is a go, auction still on. I show up at the facility 20 minutes prior, and the lady says no, not having it today due to legal compliance issues, etc. I tell you what, I felt like Clark W. Griswold arriving at Wally World this morning but I guess that's all a part of the biz.


yep happens all the time

Offline MovieMan

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Re: First Storage Auction..........
« Reply #14 on: July 26, 2011, 10:33:06 AM »
Great... Sacramento is where I am... Hoping to go on a circuit for my first lookey loo on the 26th.  As it's the week after the shows start, I am expecting it to be jam packed!

Be sure to let us know your experiences with today's (July 26, 2011) auctions; crowd, prices, if you got one !



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