Storage Auctions

How often do people leave the auction without paying?

Offline Travis

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How often do people leave the auction without paying?
« on: March 27, 2013, 11:47:55 PM »
I got a chance to talk to my buddy the auctioneer today about how often people leave the auction without paying. First a little background info on this auctioneer. He has been an auctioneer for 25 years and is probably one of the top five storage auctioneers in the industry.

When I asked him how often people leave the auction without paying, I was surprised with his answer. I thought it would be a lot higher. He said that it rarely happens...maybe once or twice a year. This auctioneer handles over 1000 storage auctions a year, so those numbers are pretty impressive.

He also mentioned that most of the time, it's the delinquent tenants themselves who leave the auction without paying.

Re: How often do people leave the auction without paying?
« Reply #1 on: March 28, 2013, 09:23:05 AM »
I've not seen it happen in my area.  Of course 90% of the units are won by regulars who have plenty of money to pay.  Only thing close was when one of the regulars bid just about all of his cash on the 3rd of 7 locations.  Auction guy said it was ok for him to pay with his CC so he could bid on other units.  Company normally don't take credit cards at auction.

Re: How often do people leave the auction without paying?
« Reply #2 on: March 29, 2013, 11:41:17 AM »
The auctions I go to take Credit or Debit cards.  So since I have cards with limits of $30K each it is not a problem with me. Now paying off the card me be an issue but buying the locker is not. I have seen a few people not pay and they are not allowed back period. Most people know how much they have to spend and do not go over it.  I try to not spend more then i have in cash but a couple times I have used debit cards never credit.

Offline Leota

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Re: How often do people leave the auction without paying?
« Reply #3 on: April 03, 2013, 08:38:38 AM »
I got a chance to talk to my buddy the auctioneer today about how often people leave the auction without paying. First a little background info on this auctioneer. He has been an auctioneer for 25 years and is probably one of the top five storage auctioneers in the industry.

When I asked him how often people leave the auction without paying, I was surprised with his answer. I thought it would be a lot higher. He said that it rarely happens...maybe once or twice a year. This auctioneer handles over 1000 storage auctions a year, so those numbers are pretty impressive.

We were at an auction a year back with Luther D. in Dallas that we were high bidder until this kid bid it up and won. It got to 900.00, and we left thinking that was that; well the guy took off with his two buddies (all with their pants hanging down past their butts). Found out later they left and LD sold it to what he thought was the next high bidder (not faulting anyone) and ripped all of us a new one with a speech about being banned if we ever left etc etc etc...LOL  Seems the jerk wanted to see if the musical instruments were in the boxes (which they were) and that's all! Can't stand punks like that anyway..haha


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