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General Storage Auction Talk / Re: Another busy month ahead
« on: January 30, 2011, 05:48:21 PM »
So at the very last location someone new showed up.  Someone who I had been talking to throughout the day said that it was likely that noone would be able to get any of the remaining lockers.  It turns out that the guy who showed up was from the local mob.  I was told that sometimes he will bid $300 on a locker before they even open the door to the unit up.  I'm assuming this is because he is laundering money by buying the lockers and claiming he turned a large profit on the unit.  Is this how you would interpret it?  I think he ended up buying a couple of lockers.

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General Storage Auction Talk / Re: Another busy month ahead
« on: January 30, 2011, 05:30:37 PM »
The first batch of auctions on the 27th, I didn't get to make because I had to work, but on the 28th, I took the day off.  Out of 155 units that were announced in the paper, about 80 of them were actually sold. The average crowd size at each location was 15 or 20.   I was surprised because I thought there would be a lot more people there, because I had been at others where there were as many as 80 or 100 people show up.  I was told that there was another series of auctions going on at the same time and that it divided up the potential bidders.

I thought the units were going fairly reasonable, between $50 and $250 on average.  I didn't bid on any, but considered a couple of them.  For now, I thought it best if I observed a little bit longer before I tackle one. 

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General Storage Auction Talk / Re: Another busy month ahead
« on: January 27, 2011, 08:29:41 PM »
So I'm new to storage auctions and I was wondering if someone could answer something for me.

I'm going to a a series of 13 locations tomorrow with between 100 and 155 units up for grabs.  This same company had over 80 units auctioned off today.  Will it be likely that there will be less competition tomorrow?

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