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Messages - Cobia

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601
Stories about Storage Auctions / Re: Auction Scene #7...July, 2012
« on: July 30, 2012, 09:05:53 AM »
My prediction is it will never get back to "the good ole days" pre-tv shows. As long as the TV shows are on the air, and if they become re-runs, there will always be an elevated number of newcomers (more then pre-tv shows) that are going to come out. Not to mention all the lurkers in various online forums waiting for the crowds to drop so they can get into the auction scene.

For those of us who stuck it through the last two years, I believe we will have a significant advantage over those trying to get into storage auctions now and in the immediate future. There will always be those newbies with more money then sense that will run up units beyond the point of reason; but since the general trend is less people attending auctions and prices coming down, it's the season for educated & experienced auction buyers/re-sellers to use their skills to "steal" great units right under the noses of the newbies. Until lately, it's been so difficult to score because almost every unit had multiple newbie bidders bidding "California Style", but generally, I think those days are starting to get behind us.

602
Stories about Storage Auctions / Re: Auction Scene #7...July, 2012
« on: July 28, 2012, 05:45:49 PM »
We had are big auction week this week, auctions every day of the week and two caravan runs. The bad news, crowds have grown again since June and early July. Had one auction with about 80 people and another with about 50. The others were between 15 to 30. Earlier this month the crowds were dropping to under 20 and even single digits at some auctions.

The old timers still seem to be gradually fading away. The crowd this week was generally less then 6 old timers (pre-tv shows), maybe 1-2 since tv shows, a dozen or less that are 3 month newbies, and all others are fresh faces. There really are no 3 month to 12 month "veterans" that I can think of that are buying units at all.

I mentioned the trend of the new crop of newbies NOT bringing flashlights out and that seems to be continueing. There is also a tendency among this new batch to try to convince the "old timers" and everybody else that they have a lot of knowledge in the re-sale business. A lot of platitudes about how best to sell things, and trends in the business, and how things use to be, yada yada..., From people we've never seen in are life on the auction trail. I suppose forums like this and You Tube are making everybody a "virtual reality expert" on this industry.

Prices are slooowwlllyyy edging downward, but the quality of units this week was uncommonly horrible. Not sure whats worse. People 6 months ago dropping $1000 on a $250 units that does have some good stuff showing, or people now dropping $200 on what should be $20 junk units.

I did manage to sneak in a get, in my opinion, the best unit of the week for a low-low price. I think everybody got so use to seeing junk and paying between $100-$250 for them all week, that when this unit came up they thought anything above $250 was too much.

Haven't had a chance to sort through it yet, but just from loading it up and cleaning it out it looks like it's been in storage since the early 1990's (bills, calendars, thick layer of dust, etc.) the furniture is 1920's to 1960's, & just a quick peak in the furniture drawers and boxes looks like a lot of the stuff is circa 1970's-1980's and hasn't really been touched since. This unit should be real interesting to go through. I think it's going to be a little bit like going through a time capsule.

603
eBay / Re: Seller update on fleabay
« on: July 25, 2012, 07:17:15 AM »
Quote from: MovieMan on July 24, 2012, 07:06:09 PM
You probably have gotten this in your email (from eBay) but here's the part that jumped out at me.

They start off by saying it is now "...all about YOU" and they have "you" in italics to make it stand out.
They then tell about 3 things that might actually help sellers.

THEN they have the following:

New Top Rated Plus seal highlights top services. The percentage of all eBay purchases that are from Top Rated sellers with tracking uploaded on at least 90% of their US transactions—and include 1-day handling and a 14-day or longer money-back return policy—is growing rapidly.


To help these listings stand out even more, starting in September, they will be highlighted with a new Top Rated Plus seal.


The current Top Rated seller badge will be retired.

Note the last line. This says that unless you do the 1 day shipping and 14 day return policy you will no longer be a top rated seller.

I have always liked having that distiction and the little ribbon that goes with it in each of my listings, but now it will be no more because I will not do one-day shipping and especially 14 day return. You can't do just one..have to do both to get the 20% discount on final value fees. They eliminated the 5% discount and now they essentially are blackmailing people into going 1 and 14 or they are no longer considered top rated.

Just a couple of weeks ago they were beating up on me because I was one item short of having what I needed in a 12 month period to be top rated. My annual dollar sales figures were 10 times what was required but I was one item short.

Now it doesn't matter that I ship quickly and have good star ratings...I won't be a top rated seller anymore.

*****

If there was anywhere else to go, I would, but there isn't and they know it.

How do you like THIS eBay?



I've started implementing all the requirements for top rated seller, 14 day money back guarantee, 1 day tracking/shipping and for me it's been working out better. Bidding has gone up on my auction listings and my Buy-it-nows are actually selling or getting pretty decent offers. My Buy-it-Nows use to just sit with no action.

One caveat about Ebays lister. I had an item sell 15 minutes after I listed it and I was like OMG!! that has never happened! It was a Buy-it-Now, & when I looked at the order it said Free Shipping. Now I know I set it for calculated shipping, but the Ebay lister must have defaulted me to Free Shipping. Luckily the item didn't cost that much to ship, and considering how quick the sale was I may consider offering free shipping on my own on future products, but just be careful when your listing & make sure Ebay doesn't default you to free shipping. It's not a requirement now, but I got a feeling thats gonna be the next requirement for Top Rated Seller.

604
Stories about Storage Auctions / Re: Auction Scene #7...July, 2012
« on: July 25, 2012, 07:05:23 AM »
Quote from: craiglstauction on July 24, 2012, 06:19:00 PM
I've yet to get to a piece auction.  Most places here just do the whole storage unit.  Sounds like some good buys Movieman.
I have to make a decision on which auction to hit thursday.  I took the day off to take my daughter to some last auctions before school starts.  We have two 2-facility caravans on Thursday.  The first location is at 9am a dozen+ units and is silent bid, followed by another dozen units at 11am on other side of town.  Or I can hit a 10am auction with 6 units listed that is followed by 11am in my little town.  The smaller facility I've done ok at, they just want units cleaned so don't care how low price, and normal only 8-10 of us.

Strategy is going to be calling both places around 4 wednesday.  See which one has more units.  If second facility has all 6 units I may try the 9am first and then turn in my bid sheet at 9:45 and shoot up the road to the 10am.  I love when have so many choices.

Just checked - is 27 units and 15.  One has "Bike, Canoe" for listing.  Now that draws my interest.....

I need a canoe, where is that auction gonna be?  ;)

605
New to Storage Auctions? / Re: Bought my First locker the other day
« on: July 24, 2012, 07:59:59 AM »
For me, sales are starting to stagnate. From furniture to household goods. The only thing moving are those unique one-off items that randomly show up in units are still selling pretty good on Ebay, Oh, and textbooks are selling good right now, everything else? Blah!

Like Money said, try to make sure you are pretty confident you can sell what you are bidding on. Being new, I guess you are in the research phase, but I would still be carefull about paying alot for any unit right now.

Sure, prices are starting to come down on the units, but the quality of stuff in the units seems to be dropping, and overall sales/customers have dropped too.

606
Stories about Storage Auctions / Re: A little nervous here~3 units bought~
« on: July 23, 2012, 08:32:29 AM »
Quote from: MovieMan on July 22, 2012, 11:14:17 PM
Flea has been down last 3 Saturdays or so. eBay has dropped off in last week or so and Clist dead for maybe 3/4 weeks now.  These things seem to come in cycles rather than be a level, consistent thing.



hmm, seems the drop in customers at the flea market , yard sales, & Craigslist is a national trend. Having the same experience here.

607
Stories about Storage Auctions / Re: A little nervous here~3 units bought~
« on: July 23, 2012, 08:30:05 AM »
Quote from: rockin the retro on July 23, 2012, 07:54:52 AM
I think I may have misrepresented here.  When I said 1 in 15 is very good to great, I meant a 5 to 10 time investment.  Like my Air Jordan unit with all the hip hop items.  I bought it for $120.  Sold the Gucci hat for $125.  Then the jeans started flying off the (ebay) shelf and now finally the Air Jordans are selling.  I'm going to net close to a grand on that unit.  To me........that was a GREAT unit.

As far as netting $3k.......that would be about 1 in a 100.  But again, I'm a relative newbie.  Bought our first unit in September and have bought about 50 since.  And again, I'm easily impressed.  Remember I'm combining all the Native American stuff from two units into a lot that could be worth a couple (to few) grand.

One of my favorite units was my 2nd pool table one that I bought for $225.  Found enough gold to cover the cost (still can't believe that, as jewelry was the last thing I expected to find  in THAT locker) then sold the pool table, speakers, jbls etc.......netted just over $900.  To me that is pushing great~

I feel like I have to quit talking as I sound like I'm bragging.  Do not want to come across like that.  Just so ecstatic at some of our finds and I can't talk about them with other auction buyers locally as there is always somebody 'listening in'.  And let's face it........family can only listen (and understand) so much of it~

Don't feel bad about being enthusastic, thats what will keep you in the business, especially with all the junk, strange customers, ever changing marketplace, TV gambling bidders, etc.

608
Garage Sales / Re: Are Yard Sale Customers Really That Crazy?
« on: July 23, 2012, 08:27:24 AM »
You forgot to add

(7) Think outside the box  ::)

I appreciate the starter advice, but I've been doing this a while so I know it takes more then common simplistic ambigous statements to be successful in business.


609
General Storage Auction Talk / Re: How many loads to the dump do you normally have?
« on: July 22, 2012, 07:28:08 PM »
Second dump run of the year, but first with contents from units bought this year. 2200 lbs.

And still no TV cameras following the action! I don't get it?

I think I've developed a new sport/TV show based on the dump run.

PMTL Professional Mattress Tossing League

You know you have been doing storage auctions too long when you can throw a king size mattress by yourself! Or a ton of various size mattresses by yourself.

610
The Treasure Chest / Re: Hardest part that I didn't think of
« on: July 22, 2012, 07:18:25 PM »
Be carefull about researching the value of items. There is a tendacy to go with the "upper end" of the prices we find on things but you just don't know why the item you researched sold for $300 and you can't get $50 for the same item. Sometimes it's about quality, the item that sold was in perfect condition, and yours is not. Sometimes it's scarcity & luck. Someone had that one item for sale, and someone was willing to spend $300. Now there are 10 like items on the market and no other buyers. Sometimes it's location, region of the country, and the marketplace. That $300 Ebay item will never sell at the flea market for $300. So I find this quasi-rare vintage figuriney doo-dad thingy, look it up on Ebay, WOW! there selling for $40-$75, think the smart & easy thing to do is price it for $25 at the yard sale or flea market, and all the customers who come through look at it and me like i'm crazy. Many customers, especially yard sale & flea market, won't have a clue what the going retail price of many items are. Forget about retail new pricing as a guage for pricing things used. Just because it was $1000 new, and the marketeers suckered hundreds if not thousands of people into buying their product, don't think you can flip it used for $500. It can be frustrating trying to get what you think or the research has shown what the item is worth.

Kind of goes back to selling strategy. 1) turn & burn or 2) hold for maximum profit

611
Stories about Storage Auctions / Re: Auction Scene #7...July, 2012
« on: July 20, 2012, 10:12:31 AM »
Not really a post about the auction scene as so much about an observation about the units I have won this year. Thought I would just stick it here instead of starting another thread.

The units I have won this year are really starting to perplex me. Typically, like many of you, and with the increased competition, I try to not spend more then half of what I think a unit is worth based on what I see from the door and other variables. Basically try to "double the money". This strategy pretty muched worked last year, there were some losers that lost money and there were some winners that made a lot more than double the money, but across the board the average was about 2.5 times the money.

Anyway this year has been completely feast for famine, using the exact same bidding strategy. I have had 4 really great units that have made atleast 5 times the money and the rest of been complete dogs, either losing money or breaking even at best.

Not sure what's going on, my first thought is the overall quality of the units up for auction might be dropping rapidly. I am wondering if more people are purposely leaving garabage in units to have auctioned off, if more managers and employees are pilfering the units before they auction them, or people making deals with managers to auction off there yard sale left overs, but the are more empty boxes in units, and less sellable goods in units it seems.

Too many of the units I have won this year have had used goods in them that were tagged and priced like they were yard sale leftovers. Yes, could have been a legitimate attempt by the previous owners to sell the stuff at yard sale before they stored it, I am just wondering if former auction buyers, flea market vendors, etc. are sneaking there left over inventory into units to be auctioned.

Maybe it has just been a random localized trend that I need to shake off and push through, but it's been making wary about bidding on the "stuff" units and looking more closely at exactly what is in the unit.

612
General Storage Auction Talk / Re: Barter Kings...lessons in trading the stuff we get at auctions !
« on: July 20, 2012, 09:52:22 AM »
Quote from: the teacher on July 19, 2012, 10:59:52 PM
So is anybody still watching this?  It's interesting from the barter standpoint and it's cool to see what they get, but they're valuations on a lot of the items is a lot like Storage Wars. 

Also, where do you find all the suckers....uhh.....I mean craigslist trading partners, to let you make such a lopsided trade?  These guys are consistently going up 500-1500 every trade.  I saw them lose only once, and then they proceeded to really screw the guy in the next trade to make up for their loss! 

Cool concept, but typical "reality" show. 

Most of the bartereers in my local Craigslist are trying to pull suckers like the guys you mentioned. Everyone is all ready trying to upsale what they have to trade. I don't even bother looking at that section much anymore. My favorite was the guy trying to trade a 12' jonboat (with a slight leak) for a late model 4x4 truck! LOL!! Mostly people trying to trade real junk for something of value.

613
Garage Sales / Re: Are Yard Sale Customers Really That Crazy?
« on: July 16, 2012, 07:22:21 AM »
Thought I would update with some yard sale info/data.

My wife estimated that approximately 70%, yes you read it right 70% of our yard sale customers were re-sellers. All day (both days) people kept asking her to go lower (on already great prices) on items because they are going to re-sell it. About 5% of our customers were neighbors, so only 25% were retail customers driven by our advertisements.

It seemed in past sales that Fridays were mainly re-sellers/pickers and Saturdays were retail customers, but what does it say about the re-sale business in general when the vast majority of the customers are other re-sellers or would be re-sellers?

I don't think I like the market dynamics of having 3 sellers to 1 buyer.

614
General Storage Auction Talk / Re: How bouta sum inspiration..whats the best thing uve found lately
« on: July 16, 2012, 07:03:05 AM »
Sorry Drew, It sold at the yard sale this weekend.

615
New to Storage Auctions? / Re: High End Funiture
« on: July 16, 2012, 07:00:10 AM »
Why is there an old Dodge Pick-up photo shopper into the picture of the storage facility?

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