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Messages - Cobia

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721
New to Storage Auctions? / Re: You buy a locker and then what...
« on: April 04, 2012, 07:36:48 AM »
TechGromit,

UGA*FAN beat me to it! If you don't see yourself selling at flea markets and can't find the time and energy the list items on Ebay, then don't bother getting into storage auctions. It will be a big waste of your time and money. To be successful in this business it is a labor of love.

You must LOVE the flea market.
You must LOVE Ebay.
You must LOVE Craigslist.
You must LOVE finding other venues for selling your merchandise.

Don't get me wrong, all of these things can be a pain in the a$$, but like a marriage, to be successful, you gotta LOVE it!

Oh also,

You must LOVE moving heavy items in the blazing heat or freezing cold.
You must LOVE digging/sorting through other peoples household garbage.
and other things.

As far as finding someone to sell your stuff for you at the flea market I have tried it and so far have been unsuccessful. It's amazing how many people lack the motivation to actually "work" for a living. You will find a lot of people who will want to take the good stuff of your hands for free or next to nothing and leave you with the $1 items. Depending upon the type of units you get and the contents, those $1-$3 flea market items can end up being 20% - 40% or more in some cases, of your total sales from the unit. So the idea of just giving them away, or throwing them away, is going to really choke your profitability.

I do know others who despise the flea market and they take their would be "flea market" inventory to auction houses that do box lot auctions. Not all auction houses do box lots, and I have seen some where if you take all your "flea market" inventory to th auction house you will get "raked over the coals" by how low it all sells for. This method is really only good for high volume buyers who can afford the really low profit margins on sending  the "flea inventory" to the auction house.

722
New to Storage Auctions? / Re: How low will auctioneers go?
« on: April 04, 2012, 07:13:29 AM »
Problem is around here those $1-$20 lockers have turned into $50-$125 lockers. Every newbie has atleast $50 - $100 to gamble, and no newbie wants to let another newbie or regular get a potential "treasure" for under $50. I swear you  could through 1/2 a dozen used baby diapers and 1/2 a dozen rat carcasses in a unit and it would still go for at least $25! "There might be a gold ring under those diapers."

723
What's it Worth?? / Re: Bride Doll.
« on: April 04, 2012, 07:04:41 AM »
Quote from: genie144 on April 03, 2012, 06:01:54 PM
Funny... I have a large number of dolls from my units in January.  I have them set aside for now.  I suspect they aren't very valuable but there are a number of ones that look interesting.  Doll clothes in a shadow box, anniversary new in box barbies, large~18" porcelain dolls, and then a bunch of "old" looking raggety dolls (best guess ~1930-50) that are in pretty rough shape.

Sam

Sometimes those rough dolls sell for mad money on Ebay, just depends on era, style, & maker/brand.

724
Stories about Storage Auctions / Re: got a locker today...
« on: April 03, 2012, 07:33:04 AM »
Congratulations! That sounds like your 1 in 100 unit! Enjoy that one and don't get discouraged if you don't see another one like that in a looong time. My only advice is to milk that one for all it's worth. I won a really good locker last summer and I think I made the mistake of treating the contents like any other run-of-the-mill storage locker stuff and didn't spend the time holding on to the inventory and maximizing my profit. Lesson learned, when you find really nice things, it's o.k. to hold them a little longer and try to find the best markets, time, or customers to sell them. The avarage to below average stuff comes and goes, the good stuff is rare.

725
General Storage Auction Talk / Re: Lost money at the auction.
« on: April 02, 2012, 07:30:58 AM »
Quote from: rockin the retro on April 01, 2012, 06:16:06 PM

As far as pulling your money out to impress somebody~does anybody really do that?  I mean other than on Storage Wars?   ::)


In the last year and a half I have seen it happen at least twice in pissing contests between bidders, both times I was left very UNimpressed! I wanted to say "Is that your lunch money?" but I was not involved in either pissing contest so I stayed out of it. In both cases I did feel kinda sorry for the guys that they thought they were really flashing BIG money. If you can hold all your bid money in ONE hand you aren't impressing me, cause I damn sure can't hold all the money I take in ONE hand! I'm kind of a sandbagger, I don't spend a lot on units, I don't buy a lot of units, especially recently, but when that one big time JACKPOT unit shows itself in clear view I'm able to strike and shock a lot of people.

(I know, I know, BIG talk for an anonymous guy on the internet!)  ;)

726
What's it Worth?? / Re: Sitram Cookware
« on: April 02, 2012, 07:16:26 AM »
I have had good luck selling higher quality cookware on Craigslist, I think $50-$75 would have been about right in near new condition. You mentioned they were "well used" so you may want to do like Alias said and keep it yourself and replace the cookware you have.

I could probably pull $25-$30 at the flea market with that set. Original retail price and name brand mean almost nothing at my flea market, getting more then $5 for a used pot & lid and more then $3 for a used skillet is near impossible, even if the set retailed new for $200. Scratches on the surface and burns on the bottom will kill the value of any cookware.

727
General Storage Auction Talk / Lost money at the auction.
« on: April 01, 2012, 05:10:52 PM »
Well this is probably one of our greatest fears and we don't talk about it too much but it happened at an auction recently, somebody dropped $700 on the ground. Not winning a unit makes for a bad day, loosing your bidding money makes for a really bad day,week,month,etc.

Helpful Tips:

Keep your hands out if your pockets!
Don't keep other things in your money pockets like cigarette, lighters, cell phones, sunglasses, etc.
Wear pants, shorts, with zippered or buttoned pockets.
For God sakes, don't wear old jeans or pants with holes in the pockets!
Spread your money around (for you high rollers out there) have some money in a couple different pockets and some back at the car/truck.
Don't pull your wad of money out to try and impress other auction goers as to "how deep your pockets are".
For the guys, consider a man purse, fanny pack, or backpack for carrying your dough.

728
General Storage Auction Talk / Re: Storage Auctions...Easy Money, or Money for Nothing?
« on: April 01, 2012, 04:53:35 PM »
Quote from: tclane on March 31, 2012, 09:19:23 PM
The guy that wrote that article hit a few nails on the head but he said 6 things that made me think he has no idea what he is talking about.

He said "The truth is, probably 98% of the time you will lose money instead of making it."

Total BS. Let's just make up statistics and percentages. If you only bid on what you can see and you wait for the right unit to come along at the right price, you can still make money in this business.  

He said "There also are not nearly as many units being auctioned now. With the economy as bad as it's been, it appears most people who were going to lose their units have already lost them. Just look at the vacancy rate at storage facilities. It is reported that vacancy rates are about 30%, but there is evidence to suggest that they're much higher."

Again, total BS. The number of auctions & the number of units at the auctions has not fluctuated, if anything, there are more auctions occurring because the storage facility owners and managers are trying to capitalize on the increased interest in storage auctions. Vacancy rates have always averaged around 30%, except for urban facilities with dense populations.

He Said "Most people who actually have valuable items in a self storage unit will take the valuables out and sell them themselves before they default, or while the default process is going on. They do get notification that their unit is going to auction in plenty of time to get the good stuff out and just leave the junk and trash."

No, they don't have plenty of time to get their valuables out. If their rent is due on the 1st, most facilities attempt to contact the tenant on the 3rd and if payment has not been received, they over lock the unit by the 5th at the latest. The tenant cannot cut the facility's lock, otherwise it is considered burglary of a building.

He said "Most people who default on storage units are just normal people, not rich. They're storing holiday decorations, used baby clothes, knick knacks, paperwork or other items which are difficult to sell, and definitely don't have high profit potential."

Perhaps the reason the writer of this article is so bitter is because he was only in the storage auction business for the big scores. The reason he can't buy units anymore is because everyone else is looking for those big scores as well. The smart people in the storage auction business realize that the common household items, clothing, electronics, furniture, tools, lawn equipment, baby items, knick knacks, sporting goods, etc., are the bread and butter in this business. If I see an average unit containing common items and I think I can double my money, I'll buy it. If all you're doing is chasing the units everyone else wants, don't be surprised when you have to overpay to get a unit.

He said "Keep in mind people are not paying as much for things as they used to."

What an idiot! Yes, people are being more cautious with their money, which means they are buying quality second hand merchandise instead of buying new products. If anything, this demand for second hand merchandise is raising prices higher than they were when the economy was good.

He said "The auctioneer wants their piece of the pie. Most of the time there is a buyer's premium paid to them in addition to what you pay for the unit, so make sure you have 10-20% more cash available to pay their cut."

This isn't not true, most auctioneers do not charge a buyers premium. Sure some do, but a majority of the auctioneers get their cut from the storage facility.









tclane, I would rather go with a slightly pessimistic review for all the people thinking about getting into this business. We don't need anymore competition.

I do like units with lots of kitchen stuff showing (bread and butter, people!)

729
Stories about Storage Auctions / Re: Tea for Two - Good News/Bad News
« on: April 01, 2012, 04:36:28 PM »
Quote from: rockin the retro on March 30, 2012, 06:38:44 PM
That would be my luck too Cheesehead....
Actually I went up against our local whale to the tune of $2100 on one locker and $1400 (everybody else had backed out at about $900) on another......I didn't win either, but at least he now knows I will stick around if it's a unit I really want......and I REALLY wanted that last one..... :-\

Thats what you gotta do to compete in this business. By the way, thanks to Glendon's YouTube Video, you and your hubby's (Don) names have popped up in other places, so you might become a "local" celebrity on the auction scene.  ;)

730
What's it Worth?? / Re: Antique Table
« on: March 30, 2012, 07:20:45 AM »
Quote from: Zao24 on March 29, 2012, 11:10:29 PM
Another newbie question.  Got this antique table in a unit.  I'm debating what to price it at.  I took these photos to an antique dealer and he thinks it's about 75 years old and made of elm.  I couldn't get a value out of him, I think because he was interested in buying it and didn't want to say too high of a number, but he did say that the $40 offer I have received on it is too low.  It does have some condition issues.  The table has some splitting where two of the boards come together and there are nicks and scratches on the table top.  The base doesn't look too bad.  Any ideas what my asking price should be?  $60?  $100?  $200?





Conditions pretty rough, somebody will have to recondition it, I see those tables all the time now, another example of "antiques" that have flood the market. My guess is start at $75, if it sells REALLY quickly you will know you priced it too low, but you will get plenty more of those style tables, especially if you add estate sales/auctions and yard sales into your buying mix. Typically those style tables sell for between $40 - $150 either on Craigslist or an auction house.

731
Reality Shows about Storage Auctions / Re: Storage Wars Texas....Season 2
« on: March 28, 2012, 07:44:17 AM »
Quote from: che85mor on March 27, 2012, 11:30:32 PM
you buy storage units and you... don't have a tv at the house? lucky bastard!

Once you start buying storage units, TVs are one thing you will never be short of again! Among other things. LOL!

732
What's it Worth?? / Re: Handmade Knife
« on: March 28, 2012, 07:40:45 AM »
Good luck with that "buy it now" price. Definitely a unique looking knife. I am by no means a knife expert, and I don't want to sound like a "spoil sport", but when I take knives to the flea market there are at least 1/2 dozen knife collectors/experts there, and if the blade and handle and sheath is not in perfect condition, they don't pay more then 25 bucks for em. I have had some unique knives too, some made in Europe, but kinda beat up, at least in the collectors eyes, I thought they looked OK.

Anyway there is a great saying around these parts, "You never know!"

733
General Storage Auction Talk / Re: u-haul?
« on: March 28, 2012, 07:30:37 AM »
In my area, U-Haul only has auctions every 3 to 4 months or longer and they are silent bid. Can't remember if they have a cleaning deposit, it's been quite a while since I have attended one of their auctions. They are the only facility/chain that does silent bidding around here.

734
What's it Worth?? / Re: Antique rough sewing machine
« on: March 27, 2012, 02:15:12 PM »
Quote from: genie144 on March 27, 2012, 01:56:31 PM
What do you guys think you could sell this for:











Sam

Sam,

I sold one that looked just like that but it was in VERY good condition, much better then the one you have pictured, for $70 at the auction house. There is little market for antique sewing machines right now, and as you might expect, the market is flooded with them. Mine was a New Home, manufactured in 1895? maybe a little earlier.

In that condition, in my neck of the woods, unless it is an extremely rare make or model, or has some kind of historical relevance, I would guess $15, sorry.

735
South East / Re: Kentucky auction advertising
« on: March 27, 2012, 08:12:32 AM »
Quote from: che85mor on March 26, 2012, 10:26:03 PM
They aren't required in TN? That's a shock. I live north of Goodlettsville, TN and that's our stomping ground. All the ads we read here say "according to T.C.A. blah blah blah" which led me to believe there was a law.

What part of TN are you from? Or am I wrong in assuming you are from TN.

I'm in Chattanooga. Watch the legal ads for a while and eventually you will see ads from storage facilities that say they are TAKING POSSESION of contents from unit # blah, blah, whatever. When you call them and ask when the auction is, they will tell you there is no auction and they have somebody who buys the contents.

Per law, storage facilities must advertise regardless if they do an auction or take possession, but they don't have to have a lein auction.

This is why it is important to NOT overbid on units in our state. There is no guarantee that someone from the facility hasn't already been inside and taken the valuable and easily sellable contents before auctioning off the rest of the contents, especially if the previous renter has already been legally notified that they took possesion of the unit, say like the week before the actual auction.

This is why I always wonder why I never find flat screen LCD TV's in the units (unless broken), but the console TV's and the flat screen boxes and remote controls are always there. Why I find the old gaming consoles and the new game cases (sometimes) but never the newest gaming console/system. Why I find the bycicle helmets, but never the bikes (unless thier rusty, and beat up). Why the jewelry boxes and watch boxes are always empty (could be the renter never stored the jewelry & watches in the first place). You get my drift.  ;)

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