Online Auctions Reach Central Texas

From the sealed online bids site:

sealedonlinebids (dot) com

This seems to be the first and only auction listed in the Central Texas area.

I could see it being a popular alternative here due to the outrageous summer heat, but we all know how distrusting auction buyers are!!   

I'll be watching it just to see where it ends. If you want to throw out your guesses, please chime in!!

Let me try something here. I will take the current bid price, $255 and multiply it by how many days left, 4 & 19/24 days for a final guess of $1222.

You're low-balling, Cobia...

I see at least $4k in toys and fake plants in there!!   

You know, I remember just over a year ago, some of the members here were giving the owner of sealed online bids a hard time saying his idea would never work. I have to hand it to him, his company has come a long way. I actually have referred our members to some of his auctions and it turned out to be a good experience. All I can say to the owner is, way to go dude, your website is the future! I wish you all the success you deserve for hanging in there even when your website only had a couple auctions listed.

What’s my point? The web site clearly says it is offering Abandoned lockers. In my book that means somebody has already gone through the contents of the locker and numbered locker seal integrity is not honored.

I think you're on point with most of your comments, but in reference to the specific auction above, they clearly state that the auction is in compliance with Chapter 59 of the Texas Code, which is the storage lien auction law. It also states that the owner can pay it off any time prior to the end of the auction and reclaim their locker.

I haven't checked many of the auctions on that site, but this one is clearly listed as a lien and not instigated by the locker's owner.

There is only on unit being auctioned by this facility. I wonder if they went this route to not have to have a whole live auction for one unit that might be redeemed before the auction, anyway.

I like this idea,  I hope it doesn't replace in person buying.  There nothing better than the rush of being there.

Let me try something here. I will take the current bid price, $255 and multiply it by how many days left, 4 & 19/24 days for a final guess of $1222.

Im going to say 850- 970. Either way it will be way over bidded. That is a 300 max locker.

Im going to say 850- 970. Either way it will be way over bidded. That is a 300 max locker.

$250 Max. ( I am cheap). 
But my guess will be $1700 

Yeah, browsing thru the pics of lockers and few I liked....untill I saw current bid.
Couple are way more than I'd pay but still in "likely hood of profit" range.

Just don't know if I could bid on something thru pictures only. I have a hard time with online SHOPPING. I gotta be there.
And like someone mentioned elsewhere. You don't  have the 'nose test' in pictures. Mildew. Rat urine.
Can't tell if it's infested with ants or something.....

Or see if every single box up front with the top open is actually empty....or worse, filled with last years subscriptions of People Magazine!

For this business model to work, online storage auctions, it will be dependent on the perceived value of the service. I can see it working as long as people don't believe they are being set up and over paying for the units. As long as a good percentage of people are happy with the units they win, and the facilities are getting the money they need, then it certainly looks like it has a future. Probably would be quite a while before they totally replace "live" auctions, but I could definitely see as a auction buyer in the next 5 to 10 years the possibility of 50% of units coming from internet auctions and the other 50% from traditional live auctions.

For this business model to work, online storage auctions, it will be dependent on the perceived value of the service. I can see it working as long as people don't believe they are being set up and over paying for the units. As long as a good percentage of people are happy with the units they win, and the facilities are getting the money they need, then it certainly looks like it has a future. Probably would be quite a while before they totally replace "live" auctions, but I could definitely see as a auction buyer in the next 5 to 10 years the possibility of 50% of units coming from internet auctions and the other 50% from traditional live auctions.

I think in the next 5-10 years there will be so many new laws that are against the way storage auctions are conducted that it will be more of a hassel to buy units. Some people say that want to see unit up close and see how the unit smells! That is a great and how it should be. People that dont use flashlights should love online buying

So, to sum up this thread...

The unit sold for $535 and the buyer left some really good feedback for the storage facility and its management.

We could argue wether $535 is a good price until the cows come home, but it would seem the buyer was generally pleased with the transaction. That unit did not appear staged in any way and I suppose that's the best most of us can ask.

And, frankly, it was less than I expected it to go for.

lower than I thought. Maybe a good trend in prices going on.