Storage Auctions

my first loss

Re: my first loss
« Reply #15 on: December 10, 2014, 09:53:48 AM »
I guess im judging based on what I am seeing only and not as a whole.
well to give you a better idea of my point of view:

in my area we do not get the tv show prices for lockers. I have seen a few go near a grand but those had obvious value right in front, but the majority of my lockers I purchase go for less than 200 and maybe half of them , less than 100.

I buy in 2 general areas. 1 is straight middleclass and other is lower income area ( that is 2 different lower income with the roach unit being in the lower of the 2 )

my middle income area has a lot of general items ( my bread and butter ) in decent to great shape mostly
my low income produces a lot of low to above decent general items with always a couple gems inside
my lowest income area always produces low decent items with some above decent items and the once a month gem

I don't even try to sell furniture or mattress or to be honest I don't sell anything bigger than a microwave.bedside flat screen TV's
I do sell washers and dryers but I always price them to move real quick ( usually within a day or two)

my units usually fall in a ration of 50-60 % sellable for middleclass area 30-40% low income and 20-30% for lowest income

we get a average of 40 units per month of units for sale within a 30 min drive from my house and I do see about 8-10 "regulars" that have their "type" of locker that they go for and I only have to compete really with 2-3 of them so I end up with 4-5 lockers a month on average

Offline Travis

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Re: my first loss
« Reply #16 on: December 10, 2014, 09:04:48 PM »
I like those odds. Do you do this full time now or is it a part time gig?

Re: my first loss
« Reply #17 on: December 11, 2014, 08:08:52 AM »
I like those odds. Do you do this full time now or is it a part time gig?

im not really sure what to call full time or part time anymore lol. I spend about 25-30 hours a week on storage locker related activities ( not counting shipping ) , I spend the same amount on estate sales/regular auctions related material. and I also purchase wholesale. they all have much different work attached to them with wholesale being the most.....boring but it brings in a good steady stream of revenue but it takes a lot of space. storage locker auctions are usually the most profitable with about a average of 7 times profit margin. estate sales/regular auctions are at about 3 times profit margin but it has a lot less waste and dead inventory

Re: my first loss
« Reply #18 on: December 17, 2014, 03:48:21 AM »
For me, what does and doesn't go in the trash vs. what does and doesn't go for sale/in my own home depends entirely on not only the state it is in, but how cleanable it is.

First off, by not going through boxes, you could have missed something easily cleaned (or not even dirty) that would have made you a profit - and unless all of those items were either too cheap to bother with, or things that can't be easily cleaned (or would have an "ick" factor) like clothes/toys/kitchenware/cloth items, you were throwing out money anyway.

I've found things in moldy, cat-piss smelling trunks and cleaned up furniture that was covered in roaches/rat feces and kept them myself. I found three hood ornaments ($410 on eBay) in a trunk that smelled like a litterbox, and obviously they were easy to clean despite where they were; I also use a desk that had rat droppings in it (likely stored in a barn) that has a retail value of about $300.

You are in the trash business. What isn't trash is what can be cleaned up, not what is already clean. If they had things like nice jewelry, they could have had other valuables - or at least things that can't be "dirtied", like video games or so on.

Re: my first loss
« Reply #19 on: December 18, 2014, 08:41:46 AM »
You see, I don't view doing this as being in the "trash business". I know some units are much better than others but all the units that go up for sale at one point was someone's "stuff" and it was worth it to them to pay to store. I don't think anyone starts to store just to have a place to keep trash.

I understand that we do this as a business and that alone and if need be we need to squeeze as much as possible out of what you get ( trying to make lemonade out of rocks ) but there should be a line. there needs to be a .......I don't know how to say what I mean, but rat **** and roaches should mean that its a dead deal, cut your losses and just move on. there are so many opportunities to get up to bat with another locker that , well we shouldn't move dirty nasty **** to another person that if they knew where or what it came from would have chosen to pass on it. cleaned or not. we don't know for a fact its 100% clean

I know I sound like a ass....im reading what im writing and I think I sound like a uppity ass but....its how I feel.

Re: my first loss
« Reply #20 on: December 18, 2014, 09:01:20 AM »
nah , i dont think you sound like an ass. I totally disagree with you lol, but that's part of life. Everyone has their own way of doing things, I'm guessing for the MOST part you avoid roaches and rats by just going for the really clean looking lockers, so that probably helps.

Offline Travis

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Re: my first loss
« Reply #21 on: December 18, 2014, 07:51:43 PM »
I know I sound like a ass....im reading what im writing and I think I sound like a uppity ass but....its how I feel.

Not at all. Luckily for you, it's pretty easy to tell which units are clean and well organized.

I used to buy anything I could make a buck on. Nowadays, my time is limited, so I try to focus on clean, high quality units containing merchandise that I know will sell quickly.

Offline Cobia

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Re: my first loss
« Reply #22 on: December 20, 2014, 11:28:56 AM »
im re-reading this tread and I have to say, Im surprised that so many people would have kept going regardless........why?

is it because theres no choice (you have to put food on the table) and you only get a locker or two

is it because the majority of your locker finds are tainted by roaches or rats so no choice

is it because, well......you just don't care?

im really curious. I have to be honest. the thought of selling any of this stuff was in my head for all of 60 seconds only

Why?

1. Because where I live if a unit comes up that looks like it will produce $4,000 then it will take  $2,500 to win it. Can't give up on a unit just because it's not "prestine".

2. Even the best units where I live will have some roaches and mice sign. Just part of the mix.

3. There will be many items in the unit that a few roach footprints won't hurt or will be wrapped and stuffed away where the roaches and mice did not get too.

Offline Travis

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Re: my first loss
« Reply #23 on: December 20, 2014, 02:04:20 PM »
is it because theres no choice (you have to put food on the table)

Yes

is it because the majority of your locker finds are tainted by roaches or rats so no choice

Yes, bugs & rats are common in this industry.

is it because, well......you just don't care?

Yes and no. After you've been in this business a while, you get desensitized. If I see a stuffed animal covered in rat feces, obviously I wouldn't resell it because someone's kid is going to be snuggling with it. But if I found a box of dishes covered in dead roaches, I'm going to wash them. That's an extra $10-15. If you find an old dresser that you could sell for $75 more if it were painted, you would paint it right? Same thing with cleaning items.

Our business can be disgusting at times. I'm sure no one here likes finding someone's crusty underwear, sex toys or urine in a coffee can, but these are realities in our business. You gotta take the good with the bad.

Offline theoddfind

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Re: my first loss
« Reply #24 on: December 20, 2014, 05:33:10 PM »
A few years ago, I had to clean to out a rat infested unit with feces everywhere. And when I say everywhere, I mean every item had a turd stuck to it. It really sucked, but you just have to grin a bare it. This can be some nasty work at times.

Haha this just happened to me last month so much mouse crap i could have filled a bin and everything smelled like piss 10 x 20 almost all junk, broke even my workers got paid I worked for free

Re: my first loss
« Reply #25 on: December 27, 2014, 08:08:27 AM »
I haven't purchased a locker since this trash one. I have to admit im gun-shy right now. I understand the need to do what you have to, and fortunately I don't have to. but....I cant get the thought of winning a locker out of my head, so im going to take advise from travis and buy clean high quality lockers. I don't know how to do the cool quote thing everybody else does but if he reads this he knows he said it lol.

I have a auction in my town early next week with about 6 lockers coming up and im going to go and bid on a clean smaller locker and see what happens. I never understood the people who buy what they cant see with their own eyes online but if it works for them great

Offline Travis

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Re: my first loss
« Reply #26 on: December 27, 2014, 10:32:54 AM »
I don't know how to do the cool quote thing everybody else does

In the top right hand corner of the post you want to quote, you'll see a blue box that says "actions." Press it then select quote. See the following image:

Re: my first loss
« Reply #27 on: December 27, 2014, 08:55:37 PM »
Yes

Yes, bugs & rats are common in this industry.

Yes and no. After you've been in this business a while, you get desensitized. If I see a stuffed animal covered in rat feces, obviously I wouldn't resell it because someone's kid is going to be snuggling with it. But if I found a box of dishes covered in dead roaches, I'm going to wash them. That's an extra $10-15. If you find an old dresser that you could sell for $75 more if it were painted, you would paint it right? Same thing with cleaning items.

Our business can be disgusting at times. I'm sure no one here likes finding someone's crusty underwear, sex toys or urine in a coffee can, but these are realities in our business. You gotta take the good with the bad.

This.

I wouldn't sell clothing, stuffed animals, etc. that had been soiled* but those are items that are hard (if not impossible) to sterilize. A box of dishes, a statue, a coffee table, etc. can be cleaned and if I would use it, I would sell it to someone else to use.

The fact is, a lot of things get sullied and you never even know it. A rat can crawl across a can of beans that you then use to make chili; a roach can walk over a roll of fabric used to make your bedsheets. Germs and such are all around us, and fortunately, most things can be cleaned.

There's a difference between throwing out a $.25 mug because it isn't worth your time - and tossing out hundreds of dollars of merchandise because you don't believe in the power of Dawn dish soap.

It's up to you what you do, but even bidding carefully and perhaps even just picking at small auctions, garage sales, etc. you may have a very hard time. Most things get dirty, and in some areas rats/mice/roaches may be almost impossible to avoid. Hell, I stored my OWN belongings for a year once while traveling only to find that mice, geckos and scorpions had gotten into them. Was I going to throw out my family photos, furniture and dishes because of that.

Looking at anything in life as black/white with but a few exceptions is going to make life hard. That's doubly so with the auction business.

Offline Travis

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Re: my first loss
« Reply #28 on: December 27, 2014, 09:10:22 PM »
After wiping my daughter's butt for 4 years and cleaning up after a dog with a sensitive stomach, there isn't much I won't touch these days.

Offline alloro

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Re: my first loss
« Reply #29 on: December 28, 2014, 02:32:49 AM »
After wiping my daughter's butt for 4 years

4 years? Seems like potty training wasn't high on Mom's to do list.


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