Storage Auctions

Total Waste Of A Day

Offline Travis

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Total Waste Of A Day
« on: November 29, 2012, 02:22:18 PM »
I went to a U-Haul auction today in central Texas. 40 units between 3 locations and about 30 bidders. Every unit went for a least two times retail. It really made me sick to my stomach.

Offline Cobia

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Re: Total Waste Of A Day
« Reply #1 on: November 29, 2012, 02:31:37 PM »
How long has it been since you were buying units regularly? You might need to ad a natural inflation scale into your bidding calculation. I have noticed I am starting to sell some regular household items for a little more then I could sell them for 2-3 years ago, so I am now increasing my bidding limits by a few percentage points based on current sales trends/data.

Although again today at auction, 90% of units were pure junk; and over sold to newbies.

Offline Travis

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Re: Total Waste Of A Day
« Reply #2 on: November 29, 2012, 03:03:46 PM »
Yeah, you may be right. 2 years ago when I was buying full time I had the contacts, labor and resources to move and resell things efficiently so I bid a little higher. Nowadays, I have no outlet for the common items. I can resell quality furniture, appliances, tools, machinery, etc. Ever since I started running these websites full time, I haven't been able to get to the auctions as much as I would like to so I may be completely out of touch with reality. Don't get me wrong, I knew things were bad out there but this is ridiculous.   

Offline theoddfind

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Re: Total Waste Of A Day
« Reply #3 on: December 21, 2012, 10:34:59 AM »
I went to host of auctions in Harrisburg PA the other month from 8am - 330pm strait through,  every damn unit went for triple what it was worth. For example a unit with a moldy small bear skin rug and stuffed cub and 1 piece of junk furniture"firewood" sold for $1200 and that was one of the better deals that day. Completely insane bidding wasted a whole day, I normally don't get mad about auctions but I needed a drink by the end of that day...

Offline Travis

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Re: Total Waste Of A Day
« Reply #4 on: December 21, 2012, 11:23:51 AM »
Yeah, it's frustrating. Just a few years ago you could have bought as many units as you wanted to.

Offline Leota

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Re: Total Waste Of A Day
« Reply #5 on: December 22, 2012, 11:05:30 AM »
I went to a U-Haul auction today in central Texas. 40 units between 3 locations and about 30 bidders. Every unit went for a least two times retail. It really made me sick to my stomach.
I thought most of that was over with by now. It seems to have calmed down around here IMHO, even though it can get crazy from time to time. We know some bidders come out and are Dave Hester wannabees and bid crazy but in general I think it's getting a bit better. 2013 will tell the tale since the cat is out of the bag fro Storage Wars and the nubes   ;D


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