Storage Auctions

Storage Facility Managers Instructed to Misinform You About Upcoming Auctions

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
I just spent the last hour or so discussing the storage auction industry with, let's call him "Hank," a major player in the storage industry (owner in 100 +/- storage facilities across the country). While Hank didn't give a specific name, he did mention that 1 of the top 5 storage companies in the United States actually instructs their facility managers to misinform people about their upcoming storage auctions.

In my opinion, Hank is a reliable source and if this is true, it puts a new spin on things. I wonder what advantage a storage facility would have in fewer people attending their auctions. Less traffic? Fewer problems? Being able to get back to business quicker?

Offline MovieMan

  • *******
  • 4175
    • View Profile
I wonder what advantage a storage facility would have in fewer people attending their auctions. Less traffic? Fewer problems? Being able to get back to business quicker?

Wouldn't those have been questions you would have asked HIM? All WE could do is speculate about the answers to those questions.  What DID you talk about for an hour?  THAT would be of interest.


Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
He mentioned it in the middle of a speech about the storage industry. I didn't want to interrupt, but now that I think about it, I should have pressed him for more information...especially a name. I will be talking to him again in three or four weeks and I will try to get that information out of him. Until then, let the speculation begin. ;D  It's time for some new smileys, anyone else second that motion? I just don't think 16 smileys can sum up my full range of emotions. ;)  LOL

Offline Leota

  • ***
  • 130
    • View Profile
    • Donna's Resale Attic
I just spent the last hour or so discussing the storage auction industry with, let's call him "Hank," a major player in the storage industry (owner in 100 +/- storage facilities across the country). While Hank didn't give a specific name, he did mention that 1 of the top 5 storage companies in the United States actually instructs their facility managers to misinform people about their upcoming storage auctions.

The information he was giving, was it good or bad for bidders? Were they saying the volume of units was more or less that what they actually had? Were they giving bad information about what the tenants did or how long they had been away from the units?  ??? Inquiring minds wanna know  ???    ;D

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
I'll definitely do some more digging the next time I talk to him because I assumed he meant that they were misinforming people about the auction date/time or telling people that the auction was cancelled. He might have been referring to them padding the number of units to attract more buyers. Interesting.

The more I think about it, he was probably referring to Public Storage (although this is just speculation). He did mention that he had a friend on their board of directors.

I'll definitely do some more digging the next time I talk to him because I assumed he meant that they were misinforming people about the auction date/time or telling people that the auction was cancelled. He might have been referring to them padding the number of units to attract more buyers. Interesting.

The more I think about it, he was probably referring to Public Storage (although this is just speculation). He did mention that he had a friend on their board of directors.

I can tell you on long island their auctions have been jerked around something fierce in the past year or so, different newpapers for the ads , different rules for the auctions , different order for the caravans  etc

Offline Leota

  • ***
  • 130
    • View Profile
    • Donna's Resale Attic
I can tell you on long island their auctions have been jerked around something fierce in the past year or so, different newpapers for the ads , different rules for the auctions , different order for the caravans  etc


Not sure of this is true but, I was told a lot of facilities are using smaller newspapers because the larger ones charge so much and they are also using CList along with that. I guess it's just up to us to do some research to find them all.

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Public storage does change the order of their auctions every now and then. Since Public Storage uses their district managers instead of auctioneers, it's at their discretion to reschedule the order and times to make the auctions more efficient. Some of the district managers do a good job at this and others don't. Most likely, you will have to wait quite a while in between auctions; however, the main reason for this is because they do all of their paperwork before they leave to go to the next location.



Offline alloro

  • *****
  • 2348
    • View Profile
I can tell you on long island their auctions have been jerked around something fierce in the past year or so

If I were on Long Island I would be buying every unit with furniture and mattresses that I could lay my hands on. Those people not covered by insurance will be looking for bargains in a very short amount of time. A person could easily make tens of thousand of dollars over the next year or two.

If I were on Long Island I would be buying every unit with furniture and mattresses that I could lay my hands on. Those people not covered by insurance will be looking for bargains in a very short amount of time. A person could easily make tens of thousand of dollars over the next year or two.

opportunities will abound for sure but many of the units coming up for auction in the next month - 3 months will have been underwater ( i know of about 600 units in 2 locations alone that were 5 feet under on their first floors

decent furniture units were never cheap around here unless you got extremely lucky even before the shows  10x10 6-800 before the tv shows blew it up to 12-1500

also i have no garage so anything i Buy needs to fit in my house or van otherwise im renting storage and thats not cheap around here either im currently paying $207 for a 10x10

Not sure of this is true but, I was told a lot of facilities are using smaller newspapers because the larger ones charge so much and they are also using CList along with that. I guess it's just up to us to do some research to find them all.

im sure some of its saving money but its the same 2 or 3 papers and they keep flipping back and forth

I've seen a hodge podge in my area.  A few of the places list in small papers, change/cancel the auction at the last hour, or don't even list the auction.  My buddy finally got in good with one of the local storage owners and just gets a call every now and then to come look at a unit and offer a price.

One place that has a 3 location caravan changed the day they do auctions on last month to try and get more of the regulars to come in.  They decided to move back to saturday as the regulars were not paying as much as the saturday newbie crowd.  Plus, was more work on them during the week.


xx
Do the storage facility managers go through the units?

Started by Travis

1 Replies
1630 Views
Last post February 07, 2014, 11:01:27 PM
by MrGBJ
xx
Welcome Storage Facility Managers & Owners

Started by Travis

0 Replies
1638 Views
Last post October 11, 2013, 08:12:29 AM
by Travis
xx
Facility Managers stealing stuff.... the Rumor Mill

Started by MTP

7 Replies
2120 Views
Last post May 09, 2013, 12:20:26 AM
by ncali
xx
Storage managers talk about charging admission to auctions

Started by MovieMan

13 Replies
4028 Views
Last post April 11, 2012, 10:37:18 AM
by money4nothing