Storage Auctions

Storage Locker Auctions Online....gradually spreading

Offline MovieMan

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Storage Locker Auctions Online....gradually spreading
« on: September 27, 2012, 10:05:27 AM »
Personally I don't think these auctions will become very popular or ever totally replace the kind we all go to now, but a local area facility has just gone to that format and I will watch it to see what happens.

The provider has a photo gallery that shows about a dozen pictures of a locker AND they provide a video as well. However the one video I watched was shot from the aisle and basically showed a fellow inside the locker taking the still photos. That was a couple of minutes of my life I will never get back, but I learned not to watch anymore of them.

I looked at several of the lkrs up for sale and it pretty much confirmed my opinion that there is nothing like being there to see the goods, but I will watch the site and maybe one or two lkrs to see what happens.


Offline bwd111

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #1 on: September 27, 2012, 10:27:38 AM »
Thing I don't like about online is you are only shown the photos that the facitly wants you to see. Nothing beats a live auction! If people want to waste there money and are that lazy to attend a live auction then dont be in this bussiness. Plus you have to pay for the online convenience of buying online. It like buy all your food at a convenience store, you pay more and its a waste

Offline Cobia

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #2 on: September 28, 2012, 09:01:09 AM »
Thing I don't like about online is you are only shown the photos that the facitly wants you to see. Nothing beats a live auction! If people want to waste there money and are that lazy to attend a live auction then dont be in this bussiness. Plus you have to pay for the online convenience of buying online. It like buy all your food at a convenience store, you pay more and its a waste

The concern going forward, especially for those that live in smaller cities/markets that have relatively fewer auctions, is what happens if many or most of the major facilities go to this format over the next several years? Choices are limited to trying to win units at locations that still do traditional live auctions, quite the business all together, or start practicing using the online auction format & seeing if we can develop new strategies for successfully bidding in an online environment.

Bwd111, I think you said you had some luck with this format in the beginning.

Offline bwd111

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #3 on: September 28, 2012, 10:53:35 AM »
The concern going forward, especially for those that live in smaller cities/markets that have relatively fewer auctions, is what happens if many or most of the major facilities go to this format over the next several years? Choices are limited to trying to win units at locations that still do traditional live auctions, quite the business all together, or start practicing using the online auction format & seeing if we can develop new strategies for successfully bidding in an online environment.

Bwd111, I think you said you had some luck with this format in the beginning.
I had great luck in the start then prices were sky high, higher than ive ever seen making it not worth the blind bid. People can use credit cards to bid online making prices way out of reach and leaving too much room for shill bidding to become an issue. Watch the online auction prices and you will be amazed of how high they get. Some online companys refuse to show winning bids. Shaddy in my opinion.

Offline MovieMan

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #4 on: March 25, 2013, 08:07:43 AM »
Over 120 days ago this thread got its last response.

In the last 60 days the facility 7 miles away from me went back to live auctions with a real auctioneer and crowd.

They used the online approach three times in six months. I haven't talked to the management there as the local person behind the counter isn't open to a conversation about the business, but I can only assume that for whatever reason they weren't happy with the online auction approach.


Offline alloro

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #5 on: March 25, 2013, 11:13:49 AM »
but I can only assume that for whatever reason they weren't happy with the online auction approach.

Perhaps there were fees involved that cut into the recuperation of losses.

Offline Travis

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #6 on: March 25, 2013, 06:07:30 PM »
I looked at several of the lkrs up for sale and it pretty much confirmed my opinion that there is nothing like being there to see the goods, but I will watch the site and maybe one or two lkrs to see what happens.

Open mindedness...you're growing as a Jedi Luke.  ;D

“The measure of intelligence is the ability to change.”  Albert Einstein

Offline Travis

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #7 on: March 25, 2013, 06:16:32 PM »
Thing I don't like about online is you are only shown the photos that the facitly wants you to see.

Actually, most of the online auctions I have seen had several high quality photos from all angles. I have seen a couple with blurry images, limited photos, etc, but most facilities seem to realize that they need to take the best pictures possible.

Nothing beats a live auction! If people want to waste there money and are that lazy to attend a live auction then dont be in this bussiness.

I think spending several hours a day at auctions is wasting time. Let alone the $20 a day you waste in gas driving all over town.

Plus you have to pay for the online convenience of buying online. It like buy all your food at a convenience store, you pay more and its a waste

Have you looked at http://virtualstorageauction.com/ yet? It's totally free for the buyer and the seller.

Offline MovieMan

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #8 on: March 25, 2013, 06:57:47 PM »
Plus you have to pay for the online convenience of buying online. It like buy all your food at a convenience store, you pay more and its a waste

Travis.... I think BWD means one might pay more for an online auction lkr than if it was bought at a live/facility auction. That is ONE of the aspects you promote isn't it...that the facility or auctioneer or both will get better end results by doing an online auction ?


Offline Travis

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #9 on: March 25, 2013, 07:11:30 PM »
I had great luck in the start then prices were sky high, higher than ive ever seen making it not worth the blind bid.

I have bought 3 or 4 lockers online this year and I doubled my money on all of them. Yes, some of the bids are really high. It's hit and miss. I think the prices will be more reasonable a few years from now when there are thousands of facilities using online storage auctions instead of a few hundred.

People can use credit cards to bid online making prices way out of reach and leaving too much room for shill bidding to become an issue.

On Virtual Storage Auction, all payments must be made in cash at the storage facility.


Watch the online auction prices and you will be amazed of how high they get. Some online companys refuse to show winning bids. Shaddy in my opinion.

On Virtual Storage Auction, as long as you are "watching" an auction, you will see the final sale price.


Offline Travis

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #10 on: March 25, 2013, 07:23:00 PM »
Travis.... I think BWD means one might pay more for an online auction lkr than if it was bought at a live/facility auction. That is ONE of the aspects you promote isn't it...that the facility or auctioneer or both will get better end results by doing an online auction ?

Yes. I can put a positive spin on every aspect of online storage auctions except that. From what I have seen, storage units that are auctioned off online typically sell for 25-100% more than they would at a traditional sale. This isn't good for the buyer but it's great for the seller.

Like I mentioned earlier, there are still deals to be had at online auctions. I have gotten some great bargains this year by being patient. Like in any business, when things are in short supply, the price goes up. Once more storage facilities get involved with this, prices should level out. 

Offline MovieMan

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #11 on: March 25, 2013, 07:32:17 PM »
Yes. I can put a positive spin on every aspect of online storage auctions except that.

That statement speaks VOLUMES !



Offline Travis

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #12 on: March 26, 2013, 09:08:59 AM »
Sounds like democrat...

Or my high school principal.

Offline alloro

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #13 on: March 26, 2013, 10:00:05 AM »
Yes. I can put a positive spin on every aspect of online storage auctions except that. From what I have seen, storage units that are auctioned off online typically sell for 25-100% more than they would at a traditional sale. This isn't good for the buyer but it's great for the seller.

I knew it, a real snake in the grass. :-[  Buy an online website that caters to auction buyers, learn their secrets, :-X then in the end throw your support to the sellers and facility managers.  :(

Offline Travis

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Re: Storage Locker Auctions Online....gradually spreading
« Reply #14 on: March 26, 2013, 02:12:53 PM »
I knew it, a real snake in the grass. :-[  Buy an online website that caters to auction buyers, learn their secrets,

Whatever. Have any other conspiracy theories? I've been a buyer for years and always will be. And what secrets are you talking about...that you still sleep with your Teddy bear?

:-X then in the end throw your support to the sellers and facility managers.  :(

When MovieMan asked the following question....

Travis.... I think BWD means one might pay more for an online auction lkr than if it was bought at a live/facility auction. That is ONE of the aspects you promote isn't it...that the facility or auctioneer or both will get better end results by doing an online auction ?

....I gave him an honest answer. Units sold online typically do sell for more. This does benefit the storage facility and the auctioneer but what does that have to do with my loyalties? I'm not playing favorites, I'm providing people with a free resource that allows them to buy and sell storage units online.



 


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