Acman,
If you sense hostility in my statement, let me explain my position and experience.
When I got into storage auctions I intended it to be a hobby/investment strategy. Due to changes in my financial situation it has morphed into a full time business and I am dependent on the income it generates.
Regardless, when I first started I knew many of the "regulars" depended on the income generated from storage auctions for their livelyhood. I also knew some were hobbiest or retirees just having some fun. It was important to me to find out who the regulars were, why they were doing storage auctions, what type of units they bid on, and how much they were comfortable spending. Reason being is I don't "run up" the regulars, and they don't "run me up". I also don't bid against the guys how are obviously living "hand to mouth" and would be in big trouble if they can't make money on storage units. These are guys have been doing this for years and probably would have a hard time finding another way to take care of themselves.
When I first started going to auctions it was obviously a "working class" crowd. In the last several months it has turn into a carnival of yuppies. Upwardly mobile individuals with disposable money to burn. They come in without any care or concern about the people who do this for a living, bid units above what many regulars can afford to spend even if they want to win the unit, and get burned (because after a few big auctions they don't return).
Am I saying that wealthier people should not be going to auctions? No, and I am not supporting class warfare, I have nothing against wealthy people or the creation of wealth. I am just commenting on how this new crowd of newbies/noobies are making things bad for the regulars that depend on the inventory won in storage units for thier livelyhood, and they are making it bad on themselves by jumping into an industry so carelessly and wasting thier time and money.
Right now it is a lose-lose for all concerned.
I have nothing against "new" auction attendees who genuinely have spent some time researching the auctions and learning the business coming in. As legitimate "newbies" come in, "old timers" will leave for other ventures or retire, and a natural balance will be maintained. The issue I see right now in my area is somehow upper-middle class people have gotten the idea that storage auctions are like some kind of loose casino and are turning the auctions into an expensive hobby.
I, like the other regulars will have to ride out this storm, and I hope in the end the newbies who were smart and patient are here to stay.
Didn't mean to jump to conclusions, it's just the way I am wired sometimes.
Let me say your post now explain in excellent detail how you meant your original post to come off.
Also, I don't run up bidders either, I bid on what I see and guesstimate on the amount of time the item would be in my inventory while subtracting the cost of doing business(Dump runs, multiple storage visits, etc.). What has it got me so far, Nothing. I have gotten run up though. Mommy and Daddy were bank rolling little Johnny, I got the last laugh when He got a $1 locker for $23.
I'm just spending my time selling off Items in my place that I no longer need or want to grow my seed money while faithfully attending auctions and bidding when I see fit to make a profit. I have no room for error here myself, I am working class(Paycheck to Paycheck) and I have no one bankrolling me. This is intended to be my second job(Work won't give out Overtime and I pay dearly for Health Insurance).
Guess the way you have put it, all I can do as a responsible newbie and be patient like every other person in the biz.