Storage Auctions

TYPES OF STORAGE AUCTION BUYERS.

Offline Cobia

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TYPES OF STORAGE AUCTION BUYERS.
« on: May 03, 2012, 09:18:57 AM »
We might have discussed this in other threads, but I just wanted to describe them all here in one thread. We all have seen different types of people with different motivations for going to and buying units at auction. I thought I would describe some of the various types of people (based on their behavior; not race, ethnicity, religion, etc.) that I have witnessed at auctions. Please feel free to add any that I have missed or expand on the ones I have listed.

1. The Entreprenuer: This is the quintessential auction buyer that most auction goers aspire to be. This person is most often a full time regular who runs a successful retail store, has a large truck, or multiple trucks, and has multiple employees to help process the units. AKA THE WHALE.

2. The Treasure Hunter: This is an auction buyer whose motivation for buying units is to find valuable items, collectibles, antiques, gold, etc. Typically the have plenty of money to spend so losing money is not a concern. Sometimes they buy a lot of units, and sometimes they just cherry pick the good looking units. AKA BARRY.

3. The Specialist: This is an auction buyer you tend to see quite often at auction, but hardly ever bids. He or She is waiting for the one special item or class of items to bid. Let the door open on a unit and sitting inside is a Bobcat skidsteer or room full of sound & stage equipment and they will come out of nowhere with $10,000 or more in hand to win the unit. AKA THE NINJA.

4. The Gambler: This is an auction buyer who seems to have little real interest in re-selling household goods, running a store, or making a "profit". Their motivation is in the thrill of bidding itself. They tend to be on the look out for the Entreprenuers and the Treasure Hunters and find pleasure in competing against these rivals in the bidding process. Actually winning a unit from the other serious buyers is their form of "profit" or satisfaction. AKA THE P.I.T.A.

5. The Part-Timer: This auction buyer can actually fall into some of the other categories, but tend to be buyers with other sources of income so they are not reliant on the money generated from storage units to live. Some are trying to grow into a full-time business and become an Entreprenuer, others are happy to just be a Treasure Hunter or a Specialist or a Gambler. They tend to come and go from the auction scene because they either can't or don't want to go to all of the auctions. AKA THE HOBBYIST.

6. The Bargain Shopper: This is an auction buyer who is not interested in re-selling or making a "profit". They are only motivated by the concept of finding furniture or household goods cheaper then what it would cost them to buy at retail stores. These are the buyers who bid a unit well beyond profitability for the re-sellers but in their mind are still getting a great deal on the merchandise they see in the unit. AKA THE BLUE LIGHT SPECIAL.

7. The Novice: This is an auction buyer who is completely motivated by the "get rich quick" atmosphere of all the Storage Auction TV shows. They tend to do little or no research about the industry before jumping in head first into buying storage units. Almost all burn out within 3 months, and the few who do have the perseverance to learn from their mistakes and keep working the business will graduate into one of the other categories of auction buyers. AKA THE NEWBIE.

8. The Desperado: This is an auction buyer very similar to The Novice but with a twist. They are motivated to make money anyway they can. This type of buyer gives the impression that they are down on their luck, looking to score the jackpot or just try to make a decent income, and they throw the last of their savings, tax return money, or unemployment compensation into buying storage units. They are desperate to win a unit, any unit, and unfortunately they pay the price and do win. AKA THE HARD TIMER.

9. The Curious: This is an auction buyer who really knows nothing about the business, really isn't that interested in learning the business, and many times just stumbles into an auction by accident. They think it is some kind of social entertainment and end up being the ones who bid and win units and then tell the auctioneer or facility manager they don't have any money or they really didn't want to win the unit, they were just bidding for fun. AKA THE DUMBA$$.

Offline MovieMan

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #1 on: May 03, 2012, 09:25:20 AM »
Cobia....

Your usual good assessment and clear communication !  Thanks for the categorizing.  ;D

Offline alloro

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #2 on: May 03, 2012, 09:37:06 AM »
10. The Deceptive Braggart: This is the auction buyer that wins a 20x30 unit for $50 that has a single box of old DVDs sitting in the center. He then proceeds to tell everyone how he wins all of his units for $50 and makes a killing. Next he dumps all of his life saving into auction buying only to lose it all and end up on skid row in the end.

Offline MovieMan

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #3 on: May 03, 2012, 10:03:07 AM »
10. The Deceptive Braggart: This is the auction buyer that wins a 20x30 unit for $50 that has a single box of old DVDs sitting in the center. He then proceeds to tell everyone how he wins all of his units for $50 and makes a killing. Next he dumps all of his life saving into auction buying only to lose it all and end up on skid row in the end.

Oh no !  You didn't !    ;)

Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #4 on: May 03, 2012, 10:15:12 AM »
10. The Deceptive Braggart: This is the auction buyer that wins a 20x30 unit for $50 that has a single box of old DVDs sitting in the center. He then proceeds to tell everyone how he wins all of his units for $50 and makes a killing. Next he dumps all of his life saving into auction buying (and a box truck) only to lose it all and end up on skid row in the end.

There....fixed it for ya~ 8)

Now~I don't see myself in any of those categories and yet.....see myself in several~
so........

#11~The Regular Joe~
This buyer is the one that rarely misses an auction.  Shows up in his 'regular' truck, occasionally with his regular trailer.  He jokes regularly with the other regulars, while sizing up the crowd.  He rarely overpays.  Won't bid against the old man who 'needs' that $50 unit and occasionally lands a great unit, but mostly gets the units that pay for themselves and has a little meat left to splurge on new tennies and battery for his maglight.  He is regularly found at the local flea on Saturdays (talking with his regular customers) and in the backyard on Sundays repairing and reorganizing.  This Joe finds a way to make it work, from craigslist to ebay to scrap and beyond~the Regular Joe~

Offline Millertime

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #5 on: May 03, 2012, 10:53:07 AM »
Excellent job Cobia! I fit perfectly into #5 with a streak of #'s 3 and 6. Got a lot of "regular joe" also.

Offline MovieMan

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #6 on: May 03, 2012, 02:53:49 PM »
Rockin....

Your "regular Joe" description was great and would account for a lot of buyers I think.  Good job!

Offline money4nothing

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #7 on: May 03, 2012, 05:16:08 PM »
Thanks needed that today.  ;D

Offline Drew

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #8 on: May 03, 2012, 08:00:31 PM »
cool post!! just facebook'd it

Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #9 on: May 03, 2012, 09:04:12 PM »
The Desperado 8)  :o

Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #10 on: May 04, 2012, 06:10:37 AM »
Hmm - from the original 10 list I would be a #5 for sure.  #1 if I wasn't already a #5, do help do some picking for buddies store.  #3 if it's computer stuff, and I have enough cash.  #6 when I've been given a specific shopping list.

Or as Rockin put it the regular joe with the truck, trailer, and daughter to help.

So guess I'd be the Part time Regular Joe.

Lol Alloro - we have one of those guys or did.  Was a noobie that came in Oct in his PJs up to the saturday auction.  Won some of the silent bid units, then spent even more money over the next 3 months.  See him every now and then and he is always telling us how great his last locker was.  Yet, I don't see him at the flea or sales hardly ever.  So either he made all this money and has already retired of full of BS.  I suspect the later since last time talked with him he was bragging of making $100k on e-bay and not paying tax.

Offline Cobia

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #11 on: May 04, 2012, 07:51:14 AM »
Cobia....

Your usual good assessment and clear communication !  Thanks for the categorizing.  ;D

Thanks, Movieman!

Offline Cobia

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #12 on: May 04, 2012, 07:51:52 AM »
Excellent job Cobia! I fit perfectly into #5 with a streak of #'s 3 and 6. Got a lot of "regular joe" also.

Thanks, Millertime!

Offline Cobia

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #13 on: May 04, 2012, 07:52:42 AM »
cool post!! just facebook'd it

Thank You, Drew!!

Offline Cobia

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Re: TYPES OF STORAGE AUCTION BUYERS.
« Reply #14 on: May 04, 2012, 07:58:21 AM »
There....fixed it for ya~ 8)

Now~I don't see myself in any of those categories and yet.....see myself in several~
so........

#11~The Regular Joe~
This buyer is the one that rarely misses an auction.  Shows up in his 'regular' truck, occasionally with his regular trailer.  He jokes regularly with the other regulars, while sizing up the crowd.  He rarely overpays.  Won't bid against the old man who 'needs' that $50 unit and occasionally lands a great unit, but mostly gets the units that pay for themselves and has a little meat left to splurge on new tennies and battery for his maglight.  He is regularly found at the local flea on Saturdays (talking with his regular customers) and in the backyard on Sundays repairing and reorganizing.  This Joe finds a way to make it work, from craigslist to ebay to scrap and beyond~the Regular Joe~


Thanks for #11 The Regular Joe, I see myself as one too. I was trying to focus on the actual motivations for people to buy at storage auctions. I started at #7 moved to #5 would like to move to #1 but might end up at #3. I guess I will keep truckin' and see what happens. Hopefully none of us fall to #8, unless it's the learning experience we need.


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