Lookey Loos Part 11.....November, 2011

Ouch - those are some bad prices.  I have noticed the crowds also.  Still under what most of ya'll are seeing but they are up.  Heck, even yesterday at a canceled auction there was 3 of us, one a guy I've only seen once before.  The other was a lady and her father that buy crap units for high prices.  They have a store but I've heard it's total crap stuff.

I'll see what the crowd is like Saturday at the silent auction.  I really don't like silent auctions but seem to be doing better in price / profit vs normal bidding.

Well today was our 3 facility (only did 2 today) silent auction.  I change my mind on them - I should of stayed home.  Could tell there was a storage wars marathon this week.  Was only about 6 of us regulars and the rest noobies.  A few I think were regulars from out of town but the majority of the 60+ people were new.  I had tons of people asking me questions and such.  Didn't stop me from spending lots of money on a unit I liked.  Starting to wish I had passed on it however.

Can't wait for friday to get here, my silent bid place is coming up and I am in the frame of mind to get all 5 lockers.  2 months after the 10x30 I think the rest of these peoples stuff is going for sale.  Has same red trash bags WM and hospitals would use(10x30 had bunch of red bags), was in the same building #, and is only 2 lockers away from my original 10x30.  Plus looks like some of the same crap the 10x30 owner had.

I already know 2 units look like **** but I can make a few bucks off of them.  Best part all units will go for under $350 with 4 units probably going for under 150 and one I think I can get at the most $5.

Today saw cloudy skys, cold wind, cold temps, and back to a decent size crowd.  Instead of the 100 people we had saturday we only had maybe a dozen people.  Half of them were regulars.  This was a 2 facility auction, but could only hit the first facility before heading back to work.  Units were nothing great.

1st - $10 (me) - musical keyboard, box, small musical keyboard, original nintendo, few other odds/ends
2nd - $230 (regular) - small bedroom set (bed, dresser, night stand)
3rd - $5 (me) - empty backpack, 2 blankets, and a small dorm fridge.  If it don't work no big loss.
4th - $100 (regular) - a 10x10 with kids bed, lots of scattered cloths.  Guy opened with 100 but could of prob gotten it for $50
5th - no takers - was a chair, 2 baskets, and cloths, odd shoe, purse on the floor.  I may give them the $5 they want for the 2 baskets and just to see if anything was left behind.  Isn't much to really clean up - maybe a garbage bag full of cloths.

Trying to decide if want to skip the 2 auctions on wednesday to do a metal run or attend them.  Only a few units for sale so may not bother.  Next week is my big week.  3 facility caravan on the 5th and 7 facility caravan on the 8th.

Today saw cloudy skys, cold wind, cold temps, and back to a decent size crowd.  Instead of the 100 people we had saturday we only had maybe a dozen people.  Half of them were regulars.  This was a 2 facility auction, but could only hit the first facility before heading back to work.  Units were nothing great.

1st - $10 (me) - musical keyboard, box, small musical keyboard, original nintendo, few other odds/ends
2nd - $230 (regular) - small bedroom set (bed, dresser, night stand)
3rd - $5 (me) - empty backpack, 2 blankets, and a small dorm fridge.  If it don't work no big loss.
4th - $100 (regular) - a 10x10 with kids bed, lots of scattered cloths.  Guy opened with 100 but could of prob gotten it for $50
5th - no takers - was a chair, 2 baskets, and cloths, odd shoe, purse on the floor.  I may give them the $5 they want for the 2 baskets and just to see if anything was left behind.  Isn't much to really clean up - maybe a garbage bag full of cloths.

Trying to decide if want to skip the 2 auctions on wednesday to do a metal run or attend them.  Only a few units for sale so may not bother.  Next week is my big week.  3 facility caravan on the 5th and 7 facility caravan on the 8th.

Sounds like some good locker prices. I have one tomorrow way out in the country, 3 units. Hoping for a small crowd. I found it through a list service... the ones where you can see the 'general location' but dont get the address until you pay. It was so rural and unique it has me considering to pay. ($20 a month)

Went to the only Auction today that I found in a 30 mile radius... 30 people.. Some of our regulars from our town and the rest regulars... A few Lookey loos. 

  $360... Had chairs, bed, microwave, some small furniture.
 $ 475.... Boxes, Labelled Books, Kitchen plastic, Kiss, have no idea what was in there worth that kinda of money... Think two college kids bought it.

 $0.... Empty.

So prices still running away high.. Off to more tomorrow. Hopefully better than today.

Went to an auction recently with 25 lkrs advertised and 25 sold.....BUT....

This is one of those auctions where they pull the items out into the aisles while keeping the buyers back.
Then you get to come under the ropes and walk around in a long circle of "stuff". Each item (or small group) is then
sold...you hold up your bidder number if you win.

Takes a while for each lkr, so for 25, this took from 10 a.m. to 4 p.m.

I have recently been buying more single items at estate sales and such so this is a good chance to pickup on single items. But, I only bought 3, $5 items and didn't make any good scores really.  Most of the lkrs and stuff in them are poor quality due to the area, but I have gotten a few good items here. There is also a 15% buyer's premium.

Kind of funny that you mention Estate Sales MM, because I have been doing a lot better buying either full or partial estates than I have at the storage auctions lately.  Prices are just too damn high to make any money at the auctions! 

I have been buying items from other auction buyers though.  I let them overpay, clean the locker out and go through it, then I go over and pick out what I want and cash them out.  The plus side is I don't have to clean out a locker on a deadline, I don't have to make any dump runs, and I just take what I want.  The downside is, I know I'm not going to find any hidden big ticket items because it's already been gone through. 

Overall it's been working out.......having a store is a double edged sword.....you can get rid of the "smalls", but you have to keep buying them so you have enough inventory in the store to sell........no inventory...no customers! 

Overall it's been working out.......having a store is a double edged sword.....you can get rid of the "smalls", but you have to keep buying them so you have enough inventory in the store to sell........no inventory...no customers! 

Yep....the old saying is right...."You can't sell from empty shelves."

I have recently been buying more single items at estate sales and such so this is a good chance to pickup on single items. But, I only bought 3, $5 items and didn't make any good scores really.  Most of the lkrs and stuff in them are poor quality due to the area, but I have gotten a few good items here. There is also a 15% buyer's premium.

We have been hitting yard sales, spent $32 at one on Sunday and got a small trailer and Tonka truck for $10,  a book shelf and hand made cabinet for $10, Then bought a leather Columbian bottle, rock mushroom book ends, two end tables, and a silver turquoise bracelet for $12. All the furniture at the thrift shop for $75. Taking the Bracelet in today to see if it is real keeping it even it is not... LOL  Husband said depends on what it is worth, So if I want it I guess I am hopping it is fake... LOL.
Hitting an Auction today never been to this facility hopefully better than yesterday.

O.K. Here is my general observation of the auctions this month.

Well advertised, large facility chains: Still drawing crowds of newbies out. Last months (October) newbies who dropped big money did NOT return in November. November newbies still overpaid, but not as bad as October newbies. Prices generally starting to trend downward slightly.

Of the beaten path, independent facilities: The newbies haven't found these places in large numbers, so you don't get the "feeding frenzy" effect on the bidding. Prices almost back down to normal? (Pre-show levels) except for anything that looks really good.

Many old regulars are not showing up consistently to auctions, and when they do, they are not bidding to win many units. We might be witnessing a "changing of the guard" in this industry where many of the old timers can no longer compete and are retiring or moving to other ventures.

Probably my cheapest month for buying this year, but I was also a little more disciplined this month. I raked myself over the coals in September.
Won three units: 10 x 10 - 1/4 full $15, 10 x 10 - 1/2 full $65, 10 x 15 - 1/3 full $220.

Many old regulars are not showing up consistently to auctions, and when they do, they are not bidding to win many units. We might be witnessing a "changing of the guard" in this industry where many of the old timers can no longer compete and are retiring or moving to other ventures.

Another good assessment Cobia.  In my area the regulars are still showing up pretty consistently, but some are going futher afield and ALL are picking and choosing more carefully those lockers they DO buy. I don't go further away, but I am being more picky about lkr buys. I am also buying more single items at fleas, estate sales, etc. 

The day I can't compete won't come, but certainly adapting to the times is a reality.

Lol Cobia - your bad month was Sept and mine was this month.  You win some and you loose some.

As for the Regulars it's still pretty steady around here.  I only know of one regular that I saw a ton in July/Sept that I've not seen in Oct / Nov.  Don't know if he has moved on, health issues, or what.  Of course outside of the 1 thrift store guy, most of the other regulars are retired guys that do this to stay busy.  When I think about it the breakdown in my area is interesting.

1 - Regular Thirft Store Guy -- hits just about every auction except weekends.
2-5 - older "retired" regulars.  One hits most auctions, the others have certain stomping grounds I always see them at.
2 - older newbie-regulars -- myself and another guy & his wife + his son or friend - not sure which young guy.
2-4 - older newbies that only hit specific auctions.  Don't know if it's the facility they like or day/time.
3 - newer newbies that have still showed up after 2 months.

Then depending on the facility and how well advertised 3 - 80+ newbies and looky-loos.

Next week will be interesting.  Have the 3 facility auction that use to be a dozen of us.  Was close to 30 last month.  Also, have the 7 facility auction that will start out with 12 - 20 people and by time 1/2 way done be around 40-60 if trends stay the same.

.  In my area the regulars are still showing up pretty consistently, but some are going futher afield and ALL are picking and choosing more carefully those lockers they DO buy. I don't go further away, but I am being more picky about lkr buys. I am also buying more single items at fleas, estate sales, etc.  

The day I can't compete won't come, but certainly adapting to the times is a reality.

I will agree with Movieman. The market has changed and many are finding ways to adapt. Even being a Noobie it is easy to see how things have changed in just the past month.  To close out our month went to a new facility to us. Saw some of our regulars and a lot of Lookers. 1st facility---- trash unit $25. Guy said a friend needed a sofa. One that was manly trash and old clothes went for $250.. All they had.
2nd facility 30 miles away 75 people, more regulars and even more lookers. Pretty clean units prices still high not sure how they make any money. No Regulars purchased.

We have been travelling around trying to find better prices. Our Town the prices are way too high.

And I left the best for last The local paper was there with camera! Raise your hand if you don't want to be photographed.. Only 4 of us raised our hands   The reporter asked why we didn't want to be photographed, said nobodies business were we get our stuff. At second facility I asked the reporter if he got a good shot of the trashed sofa unit? I said that is reality. He did ask one of the regulars why he stopped bidding on a unit and he said to much money for that trash. Then the reporter asked if he had a store he lied and said no... LOL

So we are going to have to adapt to this situation. Only going to get worse in our area.

The other day there were three auctions by the same auctioneer. The first one had about 15 lkrs and was only 18 miles away but I decided not to attend as the auctioneer has a large following.

Anyway, the first auction took a long time and I arrived at the 2nd auction 15 minutes late because I knew the auctioneer would be late getting there. I waited an hour. People from the first auction slowly started arriving, but word was he wasn't even through collecting money from half the buyers when they left the first place (18 miles away).

I decided not to stay and I later heard he arrived (where I had waited an hour) about an hour after I left.

Thanks for wasting my time. I went to another auction where at least they were on time and I got to do something beside cool my heels.