Storage Auctions
The Storage Locker => Stories about Storage Auctions => Topic started by: MovieMan on January 04, 2013, 12:32:10 PM
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Just wondering if people bought fewer or more lockers in the last year than they did in 2011.
My answer is in my signature line and I'm thinking 2013 will be similar...maybe 15 or so...unless things change for the better..that is quality of lkrs goes up and prices stay reasonable.
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2010 was in the neighborhood of 60 lockers
2011 down to 7 lockers
2012 down to 6 lockers including 3 i bought after christmas
2013 i plan on picking up my pace a bit closer to 2010 as long as the prices arent ridiculous , picking has been good i dont feel the need to overspend
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I think I only bought around 14 or so for all of 2012....WAY down from 2011, which was WAY WAY down from 2010.
I'm with Fred.......... between picking and the commercial auctions I do, the storage auctions are kind of a bust. I won't even waste my time on a Public Storage run anymore. Too many idiots and I'm just tired of waiting in line all day just so everybody can get a peak at the unit before they spend too much money!
I have a few places I will continue to go to, but I'm being very selective about which storage auctions I attend now, not like before when I wanted to hit them all.
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If your Public Storage runs are like ours where there are several facilities scheduled for the same day, maybe you should just go to the last two auctions of the day after everyone has spent all of their cash. The deals get better at the end of the day.
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I'm newbie, so 2011 was my getting into the business year, or back in after a 15 year hiatus from helping my friend with his storage auction buying business. Anyway a bought more units in 2011 then 2012, primarily because I needed experience and information so I bought every type of unit available. 2012 I was more discerning about the types of units I bid on and won, and I also discovered the art of picking.
Prices came way down in December, so I bought a bunch of units of the kind I typically don't buy. So far they have turned out good, and as long as I can actually sell all the inventory for what it's worth I will make money on those units, but they are killing me with time and effort! For 2013, even if the prices for units come down/stay down I will probably stick to the method I developed in 2012 of buying only certain types of storage units and picking. That method seems to work best for me as far as maximizing profit margin and managing inventory and time.
I don't see myself as being the buy hundreds of storage units a year guy even if they become cheap enough to buy that many. :)