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Tell us about your FIRST auction buy

Offline MovieMan

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Tell us about your FIRST auction buy
« on: October 23, 2013, 08:17:06 AM »
There's a first time for everything...yes, some more memorable than others....but HERE we're talking about your first AUCTION BUY...nothing else !  ;D


Re: Tell us about your FIRST auction buy
« Reply #1 on: October 23, 2013, 03:09:56 PM »
I spent a few hours researching the unit owners for this auction. There were three units I was interested in. Two of those belonged to the same person. The day of auction I felt like I had a really good idea of what might be in these units.
When the first unit of two opened up I knew I had to have it. A 10 X 30 packed full. Bidding started at $100.00. As I bid the unit up higher and higher I started getting very nervous. At $1100.00 ($100.00 below my max) the auctioneer yelled sold.
Now I am sick to my stomach. My mind is racing. What have I just done? Oh My Gosh I just spent $1100.00 on a unit. What if it sucks? I want to throw up. This is not the reaction I expected to have! Four months of bidding and I finely won my first unit.  I though I would be so exited.
Calls go out to the family. All trucks and trailers available to the unit. We have to get this stuff moved! Reactions are not happy.
Everything comes back to the shop. We start digging through it all. Exclamations start coming from here and there. My family is having a ball. When we finely notice the time it is midnight.
The first one was sure a roller coaster of emotions but it ended up being a great unit. I was into profit within three days and though there was dread it evaporated pretty quickly. Deducting costs we made somewhere around $1600.00 on it. Not to shabby for the first gamble. (the second unit by this owner was the bedroom mostly so I got the better of the two).

Re: Tell us about your FIRST auction buy
« Reply #2 on: October 23, 2013, 03:50:23 PM »
My first buy on my own was a whole $20. There was a dresser worth $75 and 4-5 boxes. Not much of a shock, or a great story like calcoastgal. However, the lady who owned the stuff in the locker was present, all she wanted was a box of personals.. I let her have the box sight unseen. After the buy, a lady, who is a great friend now, yelled at me for just giving up the box. She said, "The box is yours now! You have to look in there for Grandma's pearls before you let it go!" I'll never know what was in that box, but I'll always wonder.

Re: Tell us about your FIRST auction buy
« Reply #3 on: October 23, 2013, 04:22:25 PM »
My first unit was a 10x15 I got for $550, should have been a bust, but I got lucky. It was a family that had been evicted from their home, had a son in jail and who knows what other problems. I didn't have a truck or trailer at the time, so I rented a uhaul truck. the facility was 90 miles from where I live so I had to do a one way rental, rental costs and fuel ended up costing me about $300. I also paid a friend to help me move it. Fortunately it had a 2 yeard old 50" LCD TV in it, a couple of smart phones, some other electronics and enough other stuff, I ended up selling it all for around $1500, so only a $500 dollar profit after all expenses. Would have been almost a grand now that I have my own trailer. Anyway, I am still no expert, but I have learned alot since then and still have alot to learn.


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