Storage Auctions

Trilpled my money today online!

Offline Travis

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Trilpled my money today online!
« on: March 29, 2013, 01:26:09 PM »
Just bought a unit on SB today. Killer deal. Paid $320 and I'll be able to resell the furniture for over $1,000. Haven't gone through any of the boxes or moved anything yet so who knows what else is in there. I'll post photos as soon as I have time to go through the unit.

This makes the 6th unit I've bought this year. 4 of which have been online auctions. I've made better profit margins on the units I bought online.

Offline bwd111

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Re: Trilpled my money today online!
« Reply #1 on: March 29, 2013, 02:03:59 PM »
Just bought a unit on SB today. Killer deal. Paid $320 and I'll be able to resell the furniture for over $1,000. Haven't gone through any of the boxes or moved anything yet so who knows what else is in there. I'll post photos as soon as I have time to go through the unit.

This makes the 6th unit I've bought this year. 4 of which have been online auctions. I've made better profit margins on the units I bought online.
Yes you can 3 x your money on any unit you get at a great deal! But 90% of them are way over bid on compared to live auction. Watch how high prices go online

Offline Travis

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Re: Trilpled my money today online!
« Reply #2 on: March 29, 2013, 02:43:05 PM »
Yes you can 3 x your money on any unit you get at a great deal! But 90% of them are way over bid on compared to live auction. Watch how high prices go online

I agree with you 100%. Every other unit besides the one I bought sold for full retail. One unit in particular had a baby swing, a car seat, a child's pop up play tent, a mystery box that looked empty and some bottles. Sold for $118. They could have bought the same merchandise on Craigslist and saved $60. Another unit sold for $440. Unit had a cheap gun cabinet which could be sold for $125, a old circular saw, a cheap baby changing table, a cheap desk and 6 crappy chairs from the 90's. There were no boxes and the unit was partially cleaned out so there was no mystery.

There is no argument, most storage units sold online sell for higher prices. However, every now and then you do get lucky. Keep in mind that storage units are selling for insane prices at the live auctions too. So far this year, I have bought twice as many units online than I have at live auctions and I have attended ten times more live auctions than online auctions. So that's got to count for something.

Offline alloro

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Re: Trilpled my money today online!
« Reply #3 on: March 29, 2013, 03:22:02 PM »
Keep in mind that storage units are selling for insane prices at the live auctions too.

Yes it's been that way for a while now. But I have to admit, the auctions I went to last week only had about 25 people there instead of a 100 and the prices were lower too.

Offline Travis

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Re: Trilpled my money today online!
« Reply #4 on: March 29, 2013, 03:50:16 PM »
Yes it's been that way for a while now. But I have to admit, the auctions I went to last week only had about 25 people there instead of a 100 and the prices were lower too.

I went on a U-Haul caravan a few days ago....30 units, only 12 bidders and the units were still selling for ridiculous prices. Out of 30 units I didn't buy one.

I think you're right. Generally, prices are coming down. It's been hit or miss lately. 

Re: Trilpled my money today online!
« Reply #5 on: March 29, 2013, 07:43:47 PM »
Does anyone know if there is a law outlawing online storage auctions in NC?

Offline Travis

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Re: Trilpled my money today online!
« Reply #6 on: March 29, 2013, 08:33:47 PM »
Does anyone know if there is a law outlawing online storage auctions in NC?

I have never heard of a law in any state that specifically says a storage facility can't have an online auction.

I recommend reading your states lien laws. If you find anything, let us know.

Re: Trilpled my money today online!
« Reply #7 on: March 29, 2013, 10:20:32 PM »
I did look through it and didn't see anything regarding online auctions. I was just wondering due to the fact that there are NO NC online auctions.. Maybe it's just an untapped market?

Offline MovieMan

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Re: Trilpled my money today online!
« Reply #8 on: March 29, 2013, 11:43:29 PM »
Maybe it's just an untapped market?

North Carolina is not alone. I looked at one of the online auction sellers the other day...they had a map of the USA showing where their auctions were. I don't remember which of the outfits it was, but of 48 states there were auctions in maybe 6 to 8 and they were on the west and east coasts and in the south...of course there is a lot of population in those areas as opposed to Nebraska for instance.


Offline Travis

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Re: Trilpled my money today online!
« Reply #9 on: March 30, 2013, 12:27:46 AM »
I did look through it and didn't see anything regarding online auctions. I was just wondering due to the fact that there are NO NC online auctions.. Maybe it's just an untapped market?

It may have something to do with this:

(2) The sale must be held on a day other than Sunday and between the hours of 10:00 A.M. and 4:00 P.M.:

a. At the self-service storage facility or at the nearest suitable place to where the property is held or stored; or

b. In the county where the obligation secured by the lien was contracted for.

A & B are very clear. There is no ambiguity. A storage facility in your state would be violating the lien law if they used Storage Battles. However, they could use VirtualStorageAuction.com as a supplement to their in person sale.

Re: Trilpled my money today online!
« Reply #10 on: March 31, 2013, 10:29:48 PM »
Very interesting! Thanks for digging up the answer!


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