Storage Auctions
The Storage Locker => Stories about Storage Auctions => Topic started by: MovieMan on May 19, 2011, 01:49:49 PM
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Thanks to Mr. A for suggesting this as possible topic and one I don't think we have explored in the threads.
This might show us how many of our roughly 1,650 members (as of May 19, 2011) are here because of the TV shows and how many were doing it before that.
In addition to checking the appropriate box for voting, you can post a note with further explanation. I realize the choices provided may not offer all possible ways that people came to be auction buyers.
You have to be a registered member to vote and you have to be logged-in in order to vote.
Also, you have to be logged in to see the votes cast and the percentage for each category...otherwise you
will just see the category title with no results to the right.
edit: added last lines shown above.
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You can only vote once, so pick wisely.
I started with my vote ..... I was looking for a specific item 7 years ago and went to an auction. I was surprised to see one familiar face there in the appx 15 people at the auction.
I remember touching the flap of a cardboard box and being roughly addressed by an "old-timer, regular". My friend let him know I was a newbie. The additional funny thing to me was that I never saw that guy again....guess he moved away !
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About 2 1/2 years ago one of the guys I work with asked if he could borrow my trailer to pick up somethings he bought at a Storage Auction. So I told him yeah and I would help him load it.
The unit he bought had a foosball table, air hockey table, misc. boxes and some small furniture. So I asked him how much did you pay for all this? When he told me he won it at Auction for $65....I was like what! Really!!?
So I have been doing it ever since on a part time bases, unlike many of you that make a living this way. However I will retire one day and then it is GameOn!!!
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It all started with the auction houses for me. Around 2003 or so I was buying records and video game systems at auction houses to sell on ebay. I was at an auction that advertised "records bought out of a storage unit" one day. I asked around and discovered storage unit auctions around late 2003. I still only do it as a hobby and don't like to drop a lot of money on them because I make much more at auction houses than I do at storage units. Although I'll admit, it is a hell of a lot of fun.
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For me it was in about 2006. My dad was looking to purchase a storage facility and was learning the ins and outs and told me about the auctions since ive always been one to find unique ways to make money. And thats where it all started for me.
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I got in it years ago, a freind brought me to one after I lost a unit of my own. Didnt do much back then. More or less a treasure hunter then, bought like 2 units and thats it. I got back in it cause i been doing resales, guess you can say the shows brought me back out, wanted more inventory at a cheaper rate.
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Here's another interesting look at AFTERMATH's take on his exposure to auction lockers.
See reply #7 in the following link.
http://storageauctionforums.com/index.php?topic=1200.0
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I like this topic, interesting.
I started a while back. Had been into poliec auctions, estate auctions, out of busines auctions. A friend mentioned storage auctions to me. Went to a facility to check them out, wound up buying a unit my first auction, probably the best if not the best I've had to date so that kind of had me hooked.
As soon as the crowds started comming out I've kind of slowed down with the storage auctions though I still try to hit at least one a week. Honestly I can make more money with less headaches at other auctions. Storage auctions are still my favorite in a sense though just because the surprise.
Making money is fun but I love finding a surprise in a unit, at a police auciton yeah I may pick up a $600 projector for $100 and make some money but its all business and numbers, not really the fun of digging through a unit not knowing what your going to find.
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My story is one of those long winding roads into the business. My first encounter with storage auctions was in the late 1990's a friend of mine who dropped out of high school was always trying to find a way to be self employed because he didn’t want to work at McDonald's or other various minimum wage jobs. He was always starting new ventures, lawn care service, car detailing, fishing guide, taxidermist, etc. eventually he got into storage auctions and occasionally he needed my help to clean out the units. At the time, I had a good job in construction working 40-60 hours a week, so I was not at all interested in storage auctions other than my buddy paying me a few bucks to help him move stuff.
Fast forward to 2004, my wife (girlfriend at the time) let her storage unit go into default and it was auctioned. She had a lot of nice furniture from her grandparents in there and she was very distraught over losing it. During this time I researched all there was to know about defaulting on a storage unit and how the impending lien auction works.
In 2008 my wife and I started discussing various investment opportunities that might be advantageous. I brought up real estate tax auctions and storage unit auctions. We agreed on real estate tax auctions but storage unit auctions got shot down as a possible venture.
October 2010. My wife has just lost her job and we are watching TV and guess what comes on? That’s right, storage wars! I told my wife we can do this! I told her it would be difficult because of the TV shows a lot of other people are going to make a go at it, but if we survive this next year, during the most competitive time to be in this industry, than there is no telling how successful we will be.
She saw how excited and committed I was at giving storage unit auctions a try, so she agreed to give it a go.
So thats my story and I am sticking to it. ;D
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Well,
I was in the business of buying bmx and flipping them 85% of it on bmx forums, ebay and craigslist. Been doing this for 4 years and this year, bmx has dried up (I would find a worthy bmx bike to part out and sell every 3 months instead of weekly basis)
Finally, I watched Storage Wars and Auction Hunters - thought to myself, I had experience selling and flipping things, I can do this. Now im trying to persuade my wife to come help me with the auctions (team tag bid, extra pair of eyes that i didnt see and clean ups)
My goal is to open a small resell shop and say I have a business that I can go to everyday and be my own boss - to do that, i have to have stuff to re sell.
Thus, I popped my cherry last saturday and going to one on this coming week Friday and hopefully it will go as planned.
I want us to have recognition in the community and like to know pretty much everyone in town by their names.
Yes we are in a town of 51,182 people.
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A friend has been doing some buying helping a friend of his that was doing really well. They started back in the 90s and I had been wanting to for years. Earlier this year got my storage building set up and ready to start. Then a friend calls me one night. "Have you seen Storage Wars they are doing what you have been talking about for the past few years." Decided it was time to get serious since I am expecting an insurance settlement and turned 55 wanting to retire. This is how I plan to keep busy and make some playing money. I really wish the TV showes would go off the air so things would get simplier and more profitable.
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The first time I heard about storage auctions was maybe a decade ago. It was some sort of story in the paper or maybe on the radio about a couple interesting auction finds. The most interesting they mentioned was the unit containing $40,000 cash... and the printing presses used to make them.
Anyhow, the whole concept sounded like a fun idea, but somewhere I got the misconception that the units were bid on sight-unseen. I believed that it was much more of a pure gamble than it actually is.
Fast forward and now we have the cable shows. Having already had some interest in these auctions, I checked out a couple shows and started doing more research and here I am.
Came home from my first auction a couple hours ago. Probably post about that in the looky-loos thread.
Thanks to Todd for resurrecting this thread. Had never noticed it and it's a cool topic.
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I first heard about storage auctions,about 2 years ago. My cousins boss at the time was into buying storage units,and she learned about it through him. She them bought a unit,and asked if I would sell some ornaments that she found. I asked her where she got them,thus she told me about storage auctions.
Went to my first one about a year ago,won 2 units that day. One for $45,and then other for $130
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ex family member use to go to them off and on. I never got a chance to go but always sounded like fun.
A few years ago I had a few extra bucks. Hit up a auction and made some decent money. Did it a few times but however the job I had kept me tied up and I could never make auctions.
Now I have a new job and tons of free time. The wife loves spending money andf between the two of us we have some fun.
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The first time I heard about storage auctions was maybe a decade ago. It was some sort of story in the paper or maybe on the radio about a couple interesting auction finds. The most interesting they mentioned was the unit containing $40,000 cash... and the printing presses used to make them.
Anyhow, the whole concept sounded like a fun idea, but somewhere I got the misconception that the units were bid on sight-unseen. I believed that it was much more of a pure gamble than it actually is.
Fast forward and now we have the cable shows. Having already had some interest in these auctions, I checked out a couple shows and started doing more research and here I am.
Came home from my first auction a couple hours ago. Probably post about that in the looky-loos thread.
Thanks to Todd for resurrecting this thread. Had never noticed it and it's a cool topic.
I also originally thought it was sight unseen back in 06/07 and was the reason I just stayed away. Got busy and then got sick(had multiple surgeries in 09) and forgot to do research or go to actual auctions. April/May of this year I hear about how good SW's shows are from the sports radio station I listen to. Check out SW. Love what I'm seeing, but as the free thinker I try to be I think to myself, it can't be this easy. Do my research, find out yup not as easy as SW makes it look, but now I'm intrigued. Start researching how to bid, watching (oddly enough) Glendons videos and getting tips about not losing your head. I even find a website that says what you should pay for smaller units.
I save about $300 bucks in about 3 months hit my first auctions. Saw a hoarder unit so I was looking for a place to ask questions about price and how to keepyourself safe when digging in a locker. First stop is the storage forum run by Dotsons people, not alot of help and like no activity so I keep searching and find this place. You guys are some of the best Internet supports ever, from encouragement when I didnt get a unit to helping me place silent auction bids, people have been awesome here.
That's my mini story!
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It's all my sisters fault! Since having children, I've found 'alternative' ways to making $$. From coppersmith to furniture refinishing. My sis said I had to watch American Pickers & Pawn Stars. I did and became a picker. From there "you have to check out Storage Wars". I did. I dabbled and now am hooked. Heck I don't even have time for my antiquing lately.
It's funny though....my first step in auctions was a storage auction where they sold individual lots. My sis (she really is a driving force eh?) saw a little, lighted plastic lamb among a HUGE Christmas lot. I told her no, as my Trooper can only haul so much. There were two trees, about 8 tubs of lights, a couple boxes of ornaments and two flat boxes leaning against a wall.
Opening bid $25. No takers. $10. No takers. $5. No takers. $1 and for some reason, unknown to me, my bidders card turned in my hand and I bought it.
It did all fit in my trooper, but barely!
4 hours of sorting, testing and organizing lights found me with a lot that I sold on Craigslist (in July, in Tucson no less) for $75, enough lights to keep us twinkling for the next 20 holiday seasons and yes.....the little plastic lamb for my sister.
Oh the flat boxes contained board deer that had never been used and had $49.99 price stickers on them. The lady that bought the lot really only wanted those as she trains horses and was going to set them up on her property to get the horses used to 'wildlife'.
When my husband was taking the 'dead' lights to our local transfer station the gal running the payment booth asked if she could have the lights to recycle......Great foray as I made money and nothing was wasted!
So yes.....I have my sister to 'blame' for all this! And ya know.......she has never attended an auction herself.
Thanks sis~
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It's all my sisters fault! Since having children, I've found 'alternative' ways to making $$. From coppersmith to furniture refinishing. My sis said I had to watch American Pickers & Pawn Stars. I did and became a picker. From there "you have to check out Storage Wars". I did. I dabbled and now am hooked. Heck I don't even have time for my antiquing lately.
It's funny though....my first step in auctions was a storage auction where they sold individual lots. My sis (she really is a driving force eh?) saw a little, lighted plastic lamb among a HUGE Christmas lot. I told her no, as my Trooper can only haul so much. There were two trees, about 8 tubs of lights, a couple boxes of ornaments and two flat boxes leaning against a wall.
Opening bid $25. No takers. $10. No takers. $5. No takers. $1 and for some reason, unknown to me, my bidders card turned in my hand and I bought it.
It did all fit in my trooper, but barely!
4 hours of sorting, testing and organizing lights found me with a lot that I sold on Craigslist (in July, in Tucson no less) for $75, enough lights to keep us twinkling for the next 20 holiday seasons and yes.....the little plastic lamb for my sister.
Oh the flat boxes contained board deer that had never been used and had $49.99 price stickers on them. The lady that bought the lot really only wanted those as she trains horses and was going to set them up on her property to get the horses used to 'wildlife'.
When my husband was taking the 'dead' lights to our local transfer station the gal running the payment booth asked if she could have the lights to recycle......Great foray as I made money and nothing was wasted!
So yes.....I have my sister to 'blame' for all this! And ya know.......she has never attended an auction herself.
Thanks sis~
Great story. Good Luck in your new endeavors :)
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I'll be honest and say up front it was the dang tv show. Father and I have always done auctions. Mostly estate, equipment, and company (Walmart, etc) auctions. Anyways - most of the auctions had dried up, I was tired of playing WoW, and turned on the TV for first time in weeks. Wife had left the set on A&E and Auction Hunters was on. Thought it looked like BS to me but it did get me to wondering if they had the auctions in my area. A few internet searches later I found a few listings, this site, and a few other things. Started back in June and been going ever since. I think about 6 of us started in June. Only two of us are still doing it.
Is funny as while chatting up the lady that runs one of the facilities she was like - "I count on you and the other 6 regulars". Talking about bidding and cleaning out units.
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Ok I will respond... been trying to avoid it... HAHAHAHa
The stupid show did it for us thanks to Netflix... No Cable TV here... And we got to see it.
Husband and I have always been wheeling and dealing. Buy at right price and then sell at higher price. Husband has been doing other kinds of Auctions sense he was 16.
We have been playing with all kinds of ideas on how to make a living out side of our normal professions.
We have 5 acres of land... We had come up with growing plants (one of my professions), to raising rabbits, chickens, anything... Then one night flip through Netflix and there it was. Husband said I have always wanted to check that out. So with some research and thankful for this site here we are. Still noobies by most standards, but working on building it up to make it full time.
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Ok I will respond... been trying to avoid it... HAHAHAHa
The stupid show did it for us thanks to Netflix... No Cable TV here... And we got to see it.
You are forgiven (especially since you live in Florida and pose no immediate threat to California!) ;)
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Very interesting responses. Is there anyone out there who was doing this big time before the TV shows? If so, do you resent the influx of particpants from infulenced by the shows?
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Very interesting responses. Is there anyone out there who was doing this big time before the TV shows? If so, do you resent the influx of particpants from infulenced by the shows?
Money4nothing's only been doing it for 6 months or so and SHE sees the impact of the shows.
I know people who have done it for the last 15 or 20 years...imagine THEIR feelings about the shows.
I've been doing it for 8 years (see my signature below) and I harbor some resentment, mostly for the lookeyloos (who never bid but eat up pavement time) and for those newbies who bid outrageously, paying $750 for a locker that has maybe $300 or so of sales inside.
But, I'm adapting and persevering. Many drop out and eventually all who are not serious will be gone.
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You are forgiven (especially since you live in Florida and pose no immediate threat to California!) ;)
Thanks figured we were a little safe not to many Floridians on here. ;D
I know people who have done it for the last 15 or 20 years...imagine THEIR feelings about the shows.
I've been doing it for 8 years (see my signature below) and I harbor some resentment, mostly for the lookeyloos (who never bid but eat up pavement time) and for those newbies who bid outrageously, paying $750 for a locker that has maybe $300 or so of sales inside.
But, I'm adapting and persevering. Many drop out and eventually all who are not serious will be gone.
Even being a noobie we see the regulars that I am sure have been doing this for at least 15 years or more and I feel for them this is their living. They would probably give us a harder time but with all the high bidding going on we never have to bid against them because they don't bid and we don't bid.
A doubled edge sword we have gained some respect because we are not the outrageous noobies. Some of the regulars are giving us leads on other auctions.
I am sure they all hold resentment can see it in their faces. Everyone is making money off the shows except for the buyers. Example. Auctioneer's , Storage facility, The state for tax. [/b]
So I hope for us and all our Whales that they weather the storm. It would be nice to do the auction scene without the outrageous.
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Netflix and past experience in finding stuff and selling on CL. I'm in the research stage for the auctions.
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Most of the regulars in my area have been doing this for 5-20 years depending on which person you are talking with. The majority of them are retired. I was lucky as while not welcoming new people with open arms, the regulars didn't shun us either. They just try and make it clear the TV shows and the reality are two very different things. Now that I've been doing this for 6 months everyone treats me as an equal. A few facilities even count me as a "regular / good customer that they rely on".
In a way except for a few locations the crowds in my area are calm. Mostly a dozen bidders or so. It's the advertised caravans and saturday auctions that draw 50 - 100 people. Of course it's still the same dozen of us bidding / buying the units most of the time.
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I've only been doin' this myself just over a year, but I am trying to think back to how the industry was when I was helping my friend do this in the 1990s.
Most everyone at the auctions either sold at the flea market or owned thrift stores, that was it!
I remember there was no Craigslist or Ebay so just about everything went to the flea market, including collectibles. Nice furniture, electronics and other good stuff went to family and friends.
Gold & silver jewelry was not as big a deal then as it is now, anything that wasn't kept went to the pawn shop and you did'nt get very much for it.
I remember when my friend first started using Ebay, he was selling Beanie Babies like crazy. I don't remember if he was getting them all from storage auctions or other sources.