Lookey Loos Part 4....April, 2011

Ironman...your reply in #14 above makes sense for me too, but around here anymore, we are having to be happy with making a 20% profit (maybe) instead of doubling our money. Still crazy here for the most part, though the crowds MAY be smaller. The rest of April will help show the trend I hope.

One auctineer told me that the newbies are affecting the lower priced lockers (say $25 to $300 or so) but paying more for them than they are worth, but he feels the higher priced lockers ($700 to $1500 or so) are still going to the more experienced buyers (with some exceptions of course). Still, the bread and butter items we depend on are often in those cheaper lockers...with the occasional BONUS beauties thrown in.

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Going to 5 or 6 facilites on Tuesday, Wed, Thurs this week, April 12 to 15, 2011 so will report back here on crowds and prices.

Seems like that when the auctioneer starts off at 50 or 25 If I just jump in at 150 or 200 it immediately scares the newbies (90%) out and thins the bids. Bow what I do when I do that is bump the bid at 50% of what I want to pay for the unit so I still have bidding room. Its a mind game  for the newbits.

Seems like that when the auctioneer starts off at 50 or 25 If I just jump in at 150 or 200 it immediately scares the newbies (90%) out and thins the bids. Bow what I do when I do that is bump the bid at 50% of what I want to pay for the unit so I still have bidding room. Its a mind game  for the newbits.

I tried that recently. When bidding got to $200, I said $500 thinking that might do it, but there was only the briefest of pauses and on it went. A newbie got it for $1100 (give or take), so it didn't work that time. Hopefully, he'll get burned a bit on that one and will think harder before the next one.

April is looking like crap so far.  Went to auction today, one I usually do pretty good at.  Instead of the 6 lockers that were supposed to be sold (including the big draw that got me up there!), they only had three, and they were pretty crappy looking.  Not too crappy though I guess.  First unit, a couple of new guys got into a nice little bidding war and cranked it up to $750.  I think the winner of that deal was the guy that dropped out at $725!

Next unit, two guys I know bid, first guy $1, second guy upped the ante to $5. It his $30 in about a second, and then slowly moved it's way up to $130!  This thing was almost totally empty and had some particle board that somebody was going to be throwing away.  Not sure what that was about.

Last unit was a 5x10 inside unit, and it was packed with junk (although there was a Wal-Mart guitar in the corner) and as I was walking out the door, the last number I heard was $500 and it was still climbing!  None of the regulars got one today, today was all about the noobies! 

April is looking like crap so far.  

It's not over yet, that's for sure (it being high prices). Auction today for me was cancelled. Have some Wed and Thurs. Hoping for the best.

I will skip the pod auction tomorrow at 5:00 PM because it is the one I was talking about in another post that likes to advertise all over and the local news stations have showed up the last couple of times.  I have another one on Thursday that I usually do well at, but after today, I'm not holding my breath! 

Went to 3 auctions today...the first 2 by same auctioneer...good news and bad news.

Good news is that only 18 people in attendance at two auctions. The crowd was split to 3 cities each about 40 miles apart.

First place had 4 units. The 4th was a 10 x 5....5 feet deep. It was piled about 3 feet high with tools, but pretty beat up. A regular bought it for $775. Oh my !

Second place had 7 I think it was. Last one was best a 10 x30 but only about 2/3 full with a path down the middle. Good quality stuff, but not enough to justify the winning bid of $1,025. Oh well; I stopped at $700.

Third auction of the day was  a different auctioneer. Funny things was that one semi-old-timer was telling his friend "nobody know about this, I'm telling you."  I was sure he was talking about one I knew about and when I got there, there he was ! Crowd was once again about 18 with some variety. At all three auctions half the crowd were newbies.

Funny thing is he got two units at $375 (10 x 10 a little rough looking) and a 10 x 30 about 2/3 full for $600. The 2nd one had a pickup cab in it and lots of dashboards and radiators laying on the ground. Boxes of other car parts. Not for me.


So another bust day. Guess I'll move to near Memphis where apparently the pickings are better and you can get a locker for $1 and make $800 off it.  

Went to final one of the week today.....another bust for me.

This one had 5 lkrs.  Crowd only about 20, but some newbies who have been around for a couple of months and
doing some buying. One couple there (low-lifes from the get go) and woman was shaking her fist, "It's not fair!", etc.Yep, she was a lkr owner and got to go inside with us.

Her lkr was next to last; a 10 x 30 with the back 2/3 full of black bags and some larger children stuff. Front had some OK  furniture. It went for $425 and the crying began and then the stomping off. Oh well; pay your bills.

The last lkr was a 10 x 10, packed front to back, wall to wall, floor to ceiling. It started at $100 and went up to $200 at which time I offered $500. This approach USED to work, but no more. Hardly a pause again (I tried this a week or so ago). It got down to me and one other guy who has bought a couple. I bailed at $825 and on the count of going, going, gone came back in....I stopped after my next bid of $975 and he took it away for $1K.  He'll have fun with it...better him than me at that price.

So, the lookey loo aspect is diminishing but the new buyers who have had a taste are in it for awhile. Whittling away at this in my area is the only way to go.

At the same time I was at this one, 3 other auctions were going on 20 miles away. Also, 40 miles away the other day it was reported there were 250 at that day's auctions, though I wasn't there, so don't know how accurate that was.

I am one of the many noobs who have a taste of this and plan on sticking around. 

Uhaul auction yesterday that was advertised two units and ended up being up as one as a tenant paid up.

Unit was in rough shape 10x10 and maybe 1/4 full with a couch and boxes that had been gone through as the packaging tape was visibly torn off or cut.  Contents of most boxes appeared to be mostly clothes.  Loose items spread around unit but nothing that jumped out at ya.

Auctioneer self promoted for about 15 minutes prior to starting the auction off at $200...no bites...random offer of $25...and the auction was on.  Of the 30 attendees only 3 bid...ended at $230 to a young lady who may have consignment shop ties.

I stayed away from this unit for mainly one big reason, I attended a group of Uhaul auctions where this location was to be the last on the circuit.  The auctioneer while at earlier sites announced that this specific location had been canceled due to the tenants paying up, it was also scheduled for 2 units last month also.  So upon inspecting the unit and seeing that the boxes had been opened and with loose items spread about I would say it was safe to say that the this unit was previously to be auctioned off.  The tenant paid up and removed what valuables they could and let it go into default again.

Another auction in my area (West Michigan) with advertised 3 units...I am out of stuff to sell so I will probably be a bit aggressive at this auction.

Went to 3 auctions today...the first 2 by same auctioneer...good news and bad news.

Good news is that only 18 people in attendance at two auctions. The crowd was split to 3 cities each about 40 miles apart.

First place had 4 units. The 4th was a 10 x 5....5 feet deep. It was piled about 3 feet high with tools, but pretty beat up. A regular bought it for $775. Oh my !

Second place had 7 I think it was. Last one was best a 10 x30 but only about 2/3 full with a path down the middle. Good quality stuff, but not enough to justify the winning bid of $1,025. Oh well; I stopped at $700.

Third auction of the day was  a different auctioneer. Funny things was that one semi-old-timer was telling his friend "nobody know about this, I'm telling you."  I was sure he was talking about one I knew about and when I got there, there he was ! Crowd was once again about 18 with some variety. At all three auctions half the crowd were newbies.

Funny thing is he got two units at $375 (10 x 10 a little rough looking) and a 10 x 30 about 2/3 full for $600. The 2nd one had a pickup cab in it and lots of dashboards and radiators laying on the ground. Boxes of other car parts. Not for me.


So another bust day. Guess I'll move to near Memphis where apparently the pickings are better and you can get a locker for $1 and make $800 off it.  

If you had taken te time to read what i typed, but then again, i don't expect you to read it. I said 50 and potential sale of 800. BTW i i have now sold for $305 out of that unit.  But it islike they say, when you fail at what you are doing, you have to pick at others who make it in the business. At least i get units and i make a killing profit from them. So that means i am doing something right, and your not. IT IS THAT SIMPLE.

I can also inform you that the unit i paid one dollar for, i have sold what i could sell from it. 3 things went in the garbage.
Total profit from the 1 dollar locker is $92.00

Mattress sold for 5 dollars
Full size bed sold for 70 dollars
Leg brace sold for 10 dollars
Plastic tub sold for 5 dollars
Oil heater sold 10 dollars

Total of 100 dollars minus 1 dollar for the unit and 7 dollars to a friend of mine that helped me with the unit and the other 50 dollar unit.

So you see movieman, it can be done. I have to say one thing regarding this. The crowd in Memphis lately has gone back to Normal, we now have at the most 20 people attending the auctions, where 12-14 are regulars. So the newbies are not busting us up like they do at your place. BUT, that does not give you the right to be sarcastic and make fun of others. In my mind that just shows what stage in life your on, and if i was gonna put a name on it, it would be kindergarden.

So you see movieman, it can be done. I have to say one thing regarding this. The crowd in Memphis lately has gone back to Normal, we now have at the most 20 people attending the auctions, where 12-14 are regulars. So the newbies are not busting us up like they do at your place. BUT, that does not give you the right to be sarcastic and make fun of others. In my mind that just shows what stage in life your on, and if i was gonna put a name on it, it would be kindergarden.

More power to you Mr. A. Could you continue to give us the blow by blow account on each and every item you get in a locker. It makes for amusing reading. And, by the way, I didn't learn about sarcasm until the 2nd grade...kindergarten was not that advanced.

If you had taken te time to read what i typed, but then again, i don't expect you to read it. I said 50 and potential sale of 800. BTW i i have now sold for $305 out of that unit.  But it islike they say, when you fail at what you are doing, you have to pick at others who make it in the business. At least i get units and i make a killing profit from them. So that means i am doing something right, and your not. IT IS THAT SIMPLE.

Sorry, I got lost reading the extensive item by item lists of all the things you get in each of your award winning lockers. I would put my long-term track record up against yours anyday, but as sbell111 commented one day it takes an extra special blowhard to do the job you are doing here. Yep, you're doing something right, but you're also doing something wrong....I guess I won't get an invite to that house in Norway you mentioned but I can tell you right now that if I had brought in the millions you claim from your MLM and other endeavors, I sure as shootin' wouldn't be out buying lockers for $1 and taking the freeby lkrs  just to get $15 out of them, but then that's me, and you are you. Go to it guy !

Sorry, I got lost reading the extensive item by item lists of all the things you get in each of your award winning lockers. I would put my long-term track record up against yours anyday, but as sbell111 commented one day it takes an extra special blowhard to do the job you are doing here. Yep, you're doing something right, but you're also doing something wrong....I guess I won't get an invite to that house in Norway you mentioned but I can tell you right now that if I had brought in the millions you claim from your MLM and other endeavors, I sure as shootin' wouldn't be out buying lockers for $1 and taking the freeby lkrs  just to get $15 out of them, but then that's me, and you are you. Go to it guy !

Clearly you did not read what i said. And then you turn around and give it a whole new meaning, a meaning that are fitting your thinking. Where did i say i was bringing in millions on MLM?? MLM is probobly that thing i make less money on. Since my business more or less is real estate ( renting out apt and houses) it creates  a lot of dead time. As for Norway, yeah i own a part of the company. Do that mean i am active working in it? NO, i am a shareholder.

So instead of sitting around doing nothing or pretending to do something, i go out and do auctions. I am not afraid to work hard and get dirt on my hands, if i can do something that is fun, well then i will do it. And if i make money doing it, well then thats even better. Even for a one dollar unit.  I look at it more as game, how many percentage can i gain on one unit. How much cash can i make out of 1 dollar spent.  But of course i also do the 400 and 500 dollar units, but they are not as fun as the small ones.

One thing you have to know, since your doing business, when i mention to Sbell111 about my company and what it do, well one thing is turnover, do that mean thats what i make? no, a business has bills, it has investments needs, and etc.  My share of that comes after taxes and expenses. And then the profit is split between 3 shareholders.  But like i said, you read it one way and then you see it one way, not thinking that there is more to it then what is said. Things are complex.

Do i make money, hell yeah! do i want to sit around in an office all day beeing bored? nahhh!  Sure i stop by my tentants and talk to them and fix things if there is problems. So i am just as much a working guy as anyone else. I am not a suit guy and never will be.

Your track record is probobly bigger then mine, and thats ok. You have probobly made better deals then me, and thats ok.  But have i ever made fun of your postings and finds? no.

In the beginning i thougt you was a decent guy, but it turns out your not. To bad.
Since you don't like my finds and and posting about the units, i have no problems stopping posting about it.

Went to my last auction for the week today.  Supposed to be two units up for sale.  About three of us are there a little early and this lady showed up and asked us if we were there for the auction.  We told her yes, and she asked where the office was.  Somebody pointed her in the right direction and off she went.  Everybody else shows up, and the auction is going to start, and the owner comes outside with his manager and the lady, and they pulled that unit.  The lady asking the questions was the owner of the unit, and she made some kind of deal with the owner and saved it at the last minute!  I wish they wouldn't do that!

Anyway, that freed us up to go to the unit that everybody was there for.  This was a 12x30 warehouse style unit.  They actually let everybody walk into the unit provided nobody touched anything.  It was good......Honda Trail 70 (which they were going to get you the paperwork on), and kids toy quad (just electric), tool boxes, Generac 4000 watt generator, big bunch of fishing poles, 32' extension ladder, gun safe, ammo cans and ammo box, washer and dryer, box that said "routers", a remote controlled helicopter, lot's of remote controlled airplane parts and bodies, gun stock etc.  It looked really good (almost too good if you know what I mean!)

Well, the auction started at 200 bucks.  It went to 275 and I yelled out "500", and then it climbed steadily.  My last bid was 2100, and it kept going.  Finally, when the smoke cleared, the damn thing sold for $3100!  But, add on the auctioneer's 10% buyers premium, and almost 10% sales tax on that total, and it went for almost $4K!  I hope there was something good hidden in the boxes, because what was in there did not justify that amount!