Storage Auctions

How many people buy online?

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: How many people buy online?
« Reply #15 on: February 02, 2014, 01:12:14 PM »
But the site or someone (Government??)  is going to have to lay down the law on how photo's must be taken to meet the minimum standard.

Don't you mean 50 state governments ?  The feds will never get involved with something like this so you're looking at 50 states and I doubt they would get down to the nitty-gritty of what some photos look like.

It's one thing for a state to protect the "rights" of a former tenant who may lose his belongings to an auction, and quite another to give a prospective buyer a better shot at a good buy.

If the storage sites or the online auctioneers set standards that's another matter, but one is still looking at a lot of variable from state to state and even city to city.

Nope, I don't think these birds are going to fly.

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: How many people buy online?
« Reply #16 on: February 02, 2014, 06:02:42 PM »
Nope, I don't think these birds are going to fly.

Someone probably said the same thing to the Wright Brothers.   ;)

I don't think the government would ever regulate the quality of photos; however, the smart storage facilities will take high quality photos from several angles. It definitely makes a difference.

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: How many people buy online?
« Reply #17 on: February 02, 2014, 06:27:25 PM »
Someone probably said the same thing to the Wright Brothers. 

The differences between you and them are numerous, but the chief one is they were only trying to overcome gravity.


Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: How many people buy online?
« Reply #18 on: February 03, 2014, 11:37:55 AM »
The differences between you and them are numerous, but the chief one is they were only trying to overcome gravity.


Actually, they weren't trying to overcome gravity, others had built and flown aircraft before they ever came along. The Wright brothers invented a steering mechanism for powered aircraft. But who am I to give you a history lesson.

In no way am I comparing my project to theirs. Theirs required years of research and testing, some of which involved putting their life on the line. All I'm trying to do is sway public opinion, which really isn't that difficult since most are in favor of this new technology anyway.

Offline luke

  • ****
  • 282
    • View Profile
    • Email
Re: How many people buy online?
« Reply #19 on: February 03, 2014, 12:31:39 PM »
Quote
Don't you mean 50 state governments ?

Yeah, I was thinking state regulators..  Some states may decide it's illegal to conduct tenant auctions online, violating privacy rights of the tenant, the tenant still technically owns the rights to the unit until it's sold.

The whole online auction thing concerning the tenants right can blow up and be shut down. It's the risk ones takes.

 

Offline luke

  • ****
  • 282
    • View Profile
    • Email
Re: How many people buy online?
« Reply #20 on: February 03, 2014, 12:35:57 PM »
You can read about Ohio Lien laws here.

http://onlinestorageauctions.com/forum/legal-issues/are-online-storage-auctions-legal-in-ohio/

It sounds like online auctions for lien sales are legal in Ohio.

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: How many people buy online?
« Reply #21 on: February 03, 2014, 01:17:06 PM »
It sounds like online auctions for lien sales might be illegal in Ohio.

It will probably take 2-5 years before we see clear and concise language in our lien laws for all 50 states. Several states now specifically allow online storage auctions and other states allow the storage facility to dispose of the storage unit however they see fit after after all legal requirements have been met. Other lien laws are ambiguous.

A lot of states have a provision that is worded something like this: "The sale of the personal property shall be held at the self-service storage facility or,  at the nearest suitable place to the self-service storage facility at which the personal property is stored." Keep in mind that this was designed to protect the tenant and prevent misconduct by the storage facility, not to prevent the sale from occurring online.

Also, with online storage auctions, the property is still located on the premises and technically still being sold at the storage facility because the consummated sale (the actual exchanging of funds) takes place at the facility when the buyer comes in to pay.

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: How many people buy online?
« Reply #22 on: February 03, 2014, 01:39:05 PM »

All I'm trying to do is sway public opinion, which really isn't that difficult since most are in favor of this new technology anyway.

Can you quantify most?  As an example, what percentage of people who buy auction lockers buy them online?
Or, what percentage of storage facilities use online auctions vs. regular storage auctions conducted on their sites by a real person?

Frankly, I doubt there is "any" hard evidence along either of those lines, but if it does exists it has to be in the 1% or less category.

I'm talking about NOW (January, 2014), not a year from now or two to ten years from now.

If such statistics are available please quote your source(s). Anecdotal information from a few buyers or facility owners is only that....anecdotal.




Offline luke

  • ****
  • 282
    • View Profile
    • Email
Re: How many people buy online?
« Reply #23 on: February 03, 2014, 02:23:13 PM »
It will probably take 2-5 years before we see clear and concise language in our lien laws for all 50 states. Several states now specifically allow online storage auctions and other states allow the storage facility to dispose of the storage unit however they see fit after after all legal requirements have been met. Other lien laws are ambiguous.

That's the risk take the online auction place and facilities take, if it is illegal and they interrupted the law incorrectly, they can be shut down and fined and prosecuted. It's always best to get concrete information before engaging such activities.

When I used to own my pet store and I was thinking about manufacturing and selling my own pet food. I called the state dept of agriculture to see what the rules were and if I was legally allow to manufacture my own pet food for sale and what types of certification I would need at the facility to make it happen. What are the label requirements, etc.  The real issues came in, if you do out of state Commerce, You have to follow the rules of each state and on top of that you have to deal with the federal regulations. You also had to pay the state per amount of tonnage of food you produced.

Ultimately, it's a long process to be in compliance.  The storage facility just has to worry about the state they are in, a global online marketplace has a lot more to worry about.



Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: How many people buy online?
« Reply #24 on: February 03, 2014, 08:07:02 PM »
That's the risk take the online auction place and facilities take, if it is illegal and they interrupted the law incorrectly, they can be shut down and fined and prosecuted. It's always best to get concrete information before engaging such activities.

I respect your opinion and honestly, I used to feel the same way you do. However, after pondering over this for over a year, I came to a realization....nobody knows for sure. Not me, not the storage facilities, not the state or national associations, not even the attorneys can offer more than their opinion. Heck, I've even contacted the Texas Attorney General's office about this and they couldn't say for sure. The fact is, the only way this is going to ever get worked out is if our lawmakers add clear and concise language to our lien laws or if a disgruntled tenant (who just happens to be aware that the lien laws related to online storage auctions are ambiguous in some states) brings a wrongful foreclosure lawsuit against a storage facility. The possibility of this happening is pretty slim since people who can't afford to pay a few hundred dollars in back rent can't afford to retain the services of an attorney to challenge a vague law.

Re: How many people buy online?
« Reply #25 on: February 17, 2014, 02:13:45 AM »
I've bought several units online, mostly when I first started buying storage auctions.  I don't bid online anymore. 

There's a fair number of problems that keep me from it.  First is transparency.  I payed 4350 for one good unit online.  It was worth the price, but it has me questioning who was my competition.  There's no clear bid history and no way to know I'm not being cheated / shill bid.  I have a strong feeling, but no proof that they may have either intentionally (or by a glitch) let me win at my max bid. 

Another problem is dishonesty by the facility.  I've won a unit that was infested with cockroaches.  You can bet things like mice, insect infestation, illegal items, toxic chemicals will be missed when photographing units.  All of these can be costly to deal with.

I don't see a problem with the industry moving to online auctions overall, except that the law needs to catch up if its going that way.   Specific rules for how units are photographed.  Required resolution of photos.  Specific rules that auction sites must follow.  Clear display of bid history.  Some kind of oversight.  (Dept of weights and measures review?) The attraction to storage auctions for me is that its a gamble with odds that I can see.  When the rules get shady its no longer worth playing.  You won't catch me in Vegas, I don't like the odds.

Offline Travis

  • *****
  • 5483
  • Every storage unit he buys yields treasure.
    • View Profile
    • AuctionsTX.com
    • Email
Re: How many people buy online?
« Reply #26 on: February 17, 2014, 11:56:12 AM »
There's no clear bid history and no way to know I'm not being cheated / shill bid.

On our competitors sites, true. On OnlineStorageAuctions.com, there is a posted bids section which displays each bidder's username, bid amount and date/time of their bid. As for shill bidding, that happens at in person auctions as well.

Re: How many people buy online?
« Reply #27 on: February 17, 2014, 12:22:49 PM »
Recently, I've purchased many more units online than in person. However, I would never ever spend big money on a unit that's listed online.

Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: How many people buy online?
« Reply #28 on: February 17, 2014, 12:45:07 PM »
As for shill bidding, that happens at in person auctions as well.

At least at regular auctions (depending on crowd size and your familiarity with the bidders) you can see who is bidding against you; strangers would stand out...if they keep bidding high and no one else with you knows them, dump it on them.


Offline MovieMan

  • *******
  • 4175
    • View Profile
Re: How many people buy online?
« Reply #29 on: February 17, 2014, 12:48:03 PM »
Recently, I've purchased many more units online than in person. However, I would never ever spend big money on a unit that's listed online.

How much is "big money" ?


xx
How Many People Do An Internet Search for Online Storage Auctions ?

Started by MovieMan

7 Replies
2596 Views
Last post July 16, 2014, 08:18:47 AM
by Travis
xx
Hello People

Started by GregPG

9 Replies
2124 Views
Last post December 26, 2011, 09:23:33 PM
by storagewizard
xx
Where did all the new people go that

Started by bwd111

3 Replies
1400 Views
Last post August 06, 2013, 12:03:56 AM
by calcoastgal
xx
Mad People?

Started by Roger Mack

3 Replies
1623 Views
Last post January 29, 2012, 11:05:16 PM
by monkeybusiness