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Now this is different ! A new auction concept ?

Offline MovieMan

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Now this is different ! A new auction concept ?
« on: March 10, 2011, 11:29:40 PM »
Take a look at this link. I saw this ad here on the forums.

Looks like it is in its infancy, but will be interesting to see what develops.

storageauctiondepot (dot) com/index.php?option=com_bids&task=listauctions&liststyle=list_detail&Itemid=2


Re: Now this is different ! A new auction concept ?
« Reply #1 on: March 12, 2011, 11:48:16 PM »
I paid my 5 bucks a few days ago and still can't log onto that site,and there contact  page will not load correctly so cannot email them???

sell

Re: Now this is different ! A new auction concept ?
« Reply #2 on: March 13, 2011, 04:25:58 AM »
I posted some comments on this before on another thread here. To a newbie or uneducated buyer this may look good but not to me. Looks to me like a way for someone to make quick money (read the owners/operators of storage auction depot). Heres what I see as problems for me as a buyer for this site and concept.

1. The $5.00 registration fee. For what? It does nothing but give 5 bucks to the owner, and you get what? the priviledge to bid online?

2. The minimum bid increment is $25.00......now I know some auctioneers set a minimum bid increment usually $5.00 not 25. Ask yourself why $25, look at my last comment (5) below and figure out why the higher bid increment requirement.

3. You don't get to see other than a picture whats inside the unit. At least in the traditional way you get some time to get up close and personal (from the door) to see what you are bidding on. In this case a picture is not worth a thousand bucks....err words...LOL. Yes I do see in the FAQ where the seller may arrange a viewing of the locker.

4. What's to prevent the seller from removing items after it is sold on line? You aren't there and don't get to lock it up on the spot when bought. Yes, I do see in the FAQ where storage depot "holds" the buyers money for 72 hours before the seller gets paid. Also a nice way for storage depot to 'float' someone elses money for a short period.

5. Lastly, storage depot charges a 13% commission on the sale!!!! Again, for what? Only to make money for themselves which is fine as it is a business venture but for me the buyer why would I pay 13% more than I have to? Yes you can say its paying for a service and you don't have the travel costs of going to a live auction  unless you go to the 'viewing' but at least at a live auction I can see what I am getting into better.

Not for me, not for me......











Offline Travis

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Re: Now this is different ! A new auction concept ?
« Reply #3 on: March 13, 2011, 04:07:16 PM »
Yeah, it is an interesting concept. I have seen another website that has been doing the same thing for a while now. This company isn't the first. The website I saw had high quality images from 6 angles and sophisticated software that allowed you to zoom in really close. We are considering doing something very similar with Houston Storage Auctions . The problem is you have to find clients, take photos of every unit, upload the info, monitor the auction and then deliver the client their money. There will be all sorts of legal issues and for what $25-75 per unit. Don't get me wrong, I think its a great idea. If every storage auction was posted online, just think about how much gas you would save. Also, in the Houston area we have days where up to 8 different storage facility chains are having auctions. You could only go on one run so you are missing a lot of units. If they were all posted online you could essentially view every unit for sale, it would be better for everyone.

Does anyone know if you have to have an auctioneers license to sell a storage unit online like these websites?

Offline MovieMan

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Re: Now this is different ! A new auction concept ?
« Reply #4 on: March 14, 2011, 11:28:41 AM »
Edit:

I took out all my original post as it did not relate to this concept at all. I must have thought I was putting the message in another thread.  Sorry, just cleaning it up.

Re: Now this is different ! A new auction concept ?
« Reply #5 on: March 18, 2011, 07:52:18 PM »
Hey everyone,

Just to answer some of the concerns.

The 5 dollar fee is required by Storage Auction Depot to verify the bidders who are bidding are willing to pay. We are constantly asked by storage facilities how are they guaranteed to get paid. We want to make sure the individuals who sign up are actual storage bidders. Any storage bidders is willing to pay 5 dollars to have access to some amazing units.

We changed the minimum bid increment to now 5 dollars like one user suggested.

As seen in the auction rules, what you see in the pictures is what you get. The hold on the money for 72 hours is to protect the buyer from fraud, otherwise there is no way to protect the bidder from fraud. The money is not being floated, just held.

The commission fee is not paid by the bidder. We take the commission fee out of the final sale price before we give the seller their money, just like normal auctions.


Re: Now this is different ! A new auction concept ?
« Reply #6 on: March 18, 2011, 08:12:37 PM »
This concept will never hit the big masses, and thank god for that.
It is the most stupid way i can think of to hold a storage auction.

1. You can't feel safe that what you are bidding on is what you get. Things have most likely been picked out. All you are buying is the garbage no one wanted.  It might even be a allready auction sold unit that a newbie only took what he wanted. Or it is a unit put together by the manager to get ridd of crap.

2. Storage facillities need the space to sell fast, they can't wait 2-5 days for an auction to end and then another 2-3 days for the clean out.

3. Storage auction bidders/buyers who are serious about their business can't sit around and wait for this, they need it in their store ASAP.

4. Why pay more for units then what you have to? this is one way to pay more for a unit, and you sure can burn your self faster here then in the real world.

5. Do i trust this auction form, no. Internet have time after time proven that scam is sitting lose, i am not saying this is a scam, but on the internet i would not play with my money like this.  You can not put your own lock on it. Who can say for sure that no one is picking stuff out of the unit after the auction is over.

This is a tragic way to have an storage auction. A brain dead idea.

Re: Now this is different ! A new auction concept ?
« Reply #7 on: March 18, 2011, 10:48:27 PM »
This will big hitting the big masses just to let anyone who doughts the process. We were at the World Expo last week and I can only say we will be working with some big names in the business, without doing any name dropping. Look for Storage Auction Depot to take off in the near future. There is way too much liability for the storage facilities with all these bidders now showing up at their facilities for the auctions. Good Luck out there!

Re: Now this is different ! A new auction concept ?
« Reply #8 on: March 18, 2011, 11:40:19 PM »
This will big hitting the big masses just to let anyone who doughts the process. We were at the World Expo last week and I can only say we will be working with some big names in the business, without doing any name dropping. Look for Storage Auction Depot to take off in the near future. There is way too much liability for the storage facilities with all these bidders now showing up at their facilities for the auctions. Good Luck out there!

LOL yeah right.

I have talked with several state managers for most of the chains, they laugh of the concept.

Their problem is turning it around fast enough, your concept will delay everything for them. Meaning, they will lose money.

Yeah you might be a blast and some will try it, but then it will die out just as fast as it came.

If there is anyone who needs good luck, it isyou guys.

Re: Now this is different ! A new auction concept ?
« Reply #9 on: March 19, 2011, 12:16:13 PM »
You have spoke with the MANAGERS of the the facilities, who have nothing to do with how the auctions are handled. The turn around process for the facilities is actually quicker because most facilities only hold auctions twice a year. With our concept the facilities can post their auctions throughout the year without having to wait. Just because some of the bidders, like yourself may not like the concept, it will be the norm in the future.

Re: Now this is different ! A new auction concept ?
« Reply #10 on: March 19, 2011, 01:11:18 PM »
You have spoke with the MANAGERS of the the facilities, who have nothing to do with how the auctions are handled. The turn around process for the facilities is actually quicker because most facilities only hold auctions twice a year. With our concept the facilities can post their auctions throughout the year without having to wait. Just because some of the bidders, like yourself may not like the concept, it will be the norm in the future.

Wrong, i have spoken to the State managers for several big chain. Right title is district manager. They run all the facillities here in Tennessee.  They work directly under the main headquarters, so this is far from some lokal live on site manager.


You said most facillities holds auctions twice a year. Newsflash for you, most facillities holds auctions once a month.
Most facillities have high demands on units, some chains here in TN can't rent out fast enough. Thats why they give you 24 hours to clean it out.

Some facillities here in TN have waiting lists for new tennants.
So with your concept, it would be funny to see how you could help the facillities to rent out faster when it takes a week to conduct a auction thru you guys. Where normal auctions takes 48 hours.

The biggest problem would be with the buyers, no serious buyers will use this form, so that would mean less bidders, and less income from the auctions for the facillities.

This concept is like most things that are new, comes as a flash and dies just as fast. I am sure you will hook up a few storage facillities, but in the long run it will fade out, when they see all the hazzle and negative things this brings with it.

One other thing is; do you have an auctioneer license? according to many states, the company who conduct auctions and then for storage facillities must present a valid auctioneer license.



Offline Travis

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Re: Now this is different ! A new auction concept ?
« Reply #11 on: March 19, 2011, 01:32:37 PM »
Don't get discouraged...When people doubt me, it just makes me work that much harder. You can't teach an old dog new tricks. Some people are just set in their ways. If you can land one of the top 10 storage facility chains and get a contract, you will be a wealthy man. But, you have a long road ahead of you. As far as the argument goes that the storage unit could be tampered with after the auction....any unit could be tampered with before an auction so that argument really makes no sense. The storage manager is the only person with a key to the unit before and after the auction. If something isn't present that was in the photo, you can dispute it with the storage manager.

Truth be told, storage auctions are gravitating toward this format.

1. When you have 100 people at at auction, and 20 units, it can take over 4 hours to finish.
2. With this many people, parking is extremely limited and customers can't access their units.
3. Storage facilities will realize higher returns.
4. Bidders have more time to research the items visible in the unit.
5. Bidders won't have to drive all over town wasting gas.
6. Bidders can bid on more units. If there are 2 or more auctions taking place at the same time, you can view every unit.
7. With good imaging software, you may be able to see things that the human eye could not detect.

Problems:
1. You are exposing yourself to some major liability. All it takes is one pissed off tenant who lost his stuff to take you and the storage facility to court. I hope you are incorporated.
2. No zoom feature on you website...there is another company who is doing what your doing but on a local level. They take the pictures themselves and they use high tech camera equipment. Their imaging software is so sophisticated, you could read the ingredients on a can of beans in the back of the unit. Since the storage facilities will be posting their own photos you really can't tell what is in the unit. Consider focusing on your local area and include quality images, with good lighting & several angles. Use a quality imaging program with a zoom feature.
3. This this business is in it's infancy and will require a lot of marketing.


Offline Travis

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Re: Now this is different ! A new auction concept ?
« Reply #12 on: March 19, 2011, 01:48:09 PM »
He is actually correct. Over half of the storage facilities in the Houston metro area only have an auction a few times a year.  They don't need to because certain areas have higher default rates than others. Because of the upfront costs to have an auction, most smaller facilities wait until they have several units built up before they have a sale.

Now, most of your major storage facility chains do have them every month.

Believe it or not, about 15% of the storage facilities in the Houston metro area don't have auctions at all.

A few months ago a Houston storage facility had a record auction by a company who hadn't had a auction in over 5 years. There were 58 units. It was featured on the local news. Here is the link. As soon as the video comes up, look to your far right...that's me.   khou (dot) com/news/local/Dozens-of-storage-units-auctioned-to-highest-bidder-111475599.html

Re: Now this is different ! A new auction concept ?
« Reply #13 on: March 19, 2011, 01:55:32 PM »
He is actually correct. Over half of the storage facilities in the Houston metro area only have an auction a few times a year.  They don't need to because certain areas have higher default rates than others. Because of the upfront costs to have an auction, most smaller facilities wait until they have several units built up before they have a sale.

Now, most of you major storage facility chains do have them every month.

Believe it or not, about 15% of the storage facilities in the Houston metro area don't have auctions at all.

A few months ago a Houston storage facility had a record auction by a company who hadn't had a auction in over 5 years. There were 68 units.It was feature on the local news. Here is the link. As soon as the video comes up, look to your far right...that's me.   http://www.khou.com/news/local/Dozens-of-storage-units-auctioned-to-highest-bidder-111475599.html

We have a handfull of places here that have auction once or twice a year.

Most places have them once a month. 15%) is nothing when you look at the volume of facillities.

Like i said in my other thred, does he have a auctioneer license, if he don't he is ****ed. And he is then committing a fedral crime.
Thisnk i am gonna take a phonecall to his homestate and see if he has one. And if he does business across state lines that is something else, because then he needs multiple licenses.

Offline Travis

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Re: Now this is different ! A new auction concept ?
« Reply #14 on: March 19, 2011, 02:11:01 PM »
That just depends...

Originally, I thought the same thing. But the storage facilities that don't use auctioneers don't have to have a license.
He is merely posting the auction for the facility. The grey area is whether he can accept payment.
If the funds went directly to the facility, I see no legal issue. Since he does accept the payment, he is acting as an auction site and may be subject to the same rules as an auctioneer. Plus he is open to the same type of lawsuit if the unit was sold without proper paperwork. More research needs to be done.



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