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Messages - Cobia

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751
Welcome to the Online Storage Auctions Forum / Re: Looking to make some $$$$$$ in the Atl...
« on: March 15, 2012, 09:34:31 AM »
Quote from: Austin_Harrison on March 15, 2012, 08:15:09 AM
I wish we had a facility with that many units!!! But on the other hand attendance is going through the roof and ull need a deep deep deep pocket a few thousand atleast to be safe

Over 40 units is a dream. But also a buyers worst nightmare. Hope all is good for you and good luck

I don't want an auction with a listing of 40+ units. The last one that had that many units, they listed 60, had 200 people show up! I only have around 20-25 regulars max in my metro area so thats a lot of newbies and one-timers, and just like I thought, 90% of the units were won by newbies. The auctioneer for that auction is also known for "staging" units, sending an employee inside the units and calling out the stuff they see, and having a couple of people mixed in to "bid up" the units.

752
Reality Shows about Storage Auctions / Re: Storage Wars Texas....Season 2
« on: March 14, 2012, 08:37:49 AM »
Quote from: MovieMan on March 14, 2012, 07:32:58 AM
Well, the $50K in diamonds was something else. He did say something to the effect that
in doing this biz for 28 years he had never seen anything like that. Maybe if I do it for another 20 years I'll make
a big score like that too. Somehow I think the storage industry hasn't really been in full force that long, but maybe he meant buying and selling in general.

Meanwhile, let the newbies swarm at such offerings.



Funny how after 28 years luck didn't strike until AFTER he started doing a TV show about storage auctions!  ::)

753
General Storage Auction Talk / Re: Might have to try this new service cause I hate to clean unit out
« on: March 14, 2012, 08:33:51 AM »
Quote from: Bandit on March 13, 2012, 10:29:27 PM
  I hope it isn't here  ::)

   http://www.lvrj.com/news/land-blighted-by-dumps-80566182.html

"We can't keep up with it," Ray Kelsey, a BLM outdoor recreation specialist said on a recent trip to an outlaw dump site about 80 miles west of Salt Lake City. "It's happening every day."

Sell the land. The Federal Government has no use for all that acreage. Private landowners would do a much better job making sure people don't dump garbage on their land.

754
Other Forms of Selling / Re: Not just your run of the mill Bible but what to do with it?
« on: March 13, 2012, 07:25:39 AM »
Quote from: calcoastgal on March 13, 2012, 02:21:23 AM
I have been lurking on this forum for a while. The locker I picked up this weekend was a veritable treasure trove. I live in a Mission town so I took this Bible to have one of the Brothers look at it. It is very large and the original marriage listed is in 1861. I have researched and believe in it's current condition it is worth between 6 and 8 hundred dollars. The binding is broken but, if fixed it could bring 1500 to 1800 dollars. I have an appointment to have someone from the parish at the Mission that knows alot about this to look at it and give more info.

Here finally is my list of questions.
Should I have the binding fixed to make more money?
Has anyone dealt with fixing a book and how do I find someone that can do a very professional job. (I know if a bad job is done the value of the book can go down.)
Is this item worth listing with a high end auction house. (not some local mom and pop)?

Any thoughts or suggestions would be very appreciated. I can deal with all of the furniture, china, silverware, tools etc. just not sure what to do with something that has such a potential profit and am not sure ebay is the right option.

Thanks


Questions #1 & #2. It depends, I have a friend who ran a used book store and is knowledgeable in collecting books. He has told me in the past that it is not always better to try to fix the book. Most of the time I think you will be OK, but some books depending on the author and rarity should not be messed with.

Question #3 Definitely. I have a photo album I got out of a unit that has over a hundred photos from the mid to late 1800s. I had it professionally appraised by two different appraisers. They told me the photo album probably would have pulled in around $2500 in the late 1990s but today, because of the economy and depressed antique and collectible market it would probably only bring in around $600-$800. I took the advice to hold onto it for a while and see if the market comes back up (I will probably keep it for another 25 years and try to auction it for retirement money). I was also told because of the theme of the photos I would do better with it at a major auction house in the Boston area, because the photos are relevent to the Northeast US, rather then taking it to an auction house in Atlanta.

755
General Storage Auction Talk / Re: Most frequently asked questions about storage auctions
« on: March 13, 2012, 07:11:43 AM »
"I live in a 1 bedroom apartment on the 18th. floor of the building and I drive a Smart car. How much should I spend on my 1st. locker, a 10 x 30 packed out? Oh, and where can I find the hidden unadvertised storage facilities that all the old timers go to get really great deals in my city?"

"Can I bring my pet monkey with irritable bowl syndrome to the auctions?, thanks."

756
Garage Sales / Re: Yard Sales weekend of March 9~
« on: March 12, 2012, 07:40:30 AM »
Quote from: craiglstauction on March 12, 2012, 07:23:00 AM
Hope you don't get picked for Jury duty today.

Flea turned out to be a good day.  Started to worry at first.  We got a late start and didn't get there till almost 9am (clocks didn't autoforward) and they open at 8.  Didn't miss much as few people and vendors were open.  Sales before noon were less then $50.  Last time I was there on a Sunday I made more money in morning then afternoon.  This time it was reversed.  Got more of a crowd after midday, and at the very end of the day at close.

My world coins and paper money sold well again.  CDs and DVDs did pretty well again this week (strange how one week don't move and next do).  Only a few .25 and .50 item sold.  All three of my easter baskets sold, but neither of my easter bunnies.  Got rid of a pair of boots been holding on to.  Did sell some of the cloths but it was touch and go for a bit.  Sold 1 camo GA hat quickly, two pairs of jean shorts, and then in last hour of sale a number of kids/baby cloths (.25 2T and under, kids .50) and 2 kids football / basketball jersy shirts.

Surprises - the digging in box for kids cloths didn't really work till last hour.  Will seperate sizes out in a number of different totes or next time.  Did get a compliment on the high end kids/baby cloths for cheap.  The adult high end cloths, shoes, etc. didn't move.  Most of these are what I call "Black People Style" clothing and most of the shoppers yesterday were white and hispanic.  So I'll save them for a saturday trip.  My hats didn't move - so going to keep only really good ones / logos and send rest to Goodwill.  Jeans I'm going to keep as had some interest in them ($2 pair).  90% of all the other t-shirts, blouses, shirts, etc. are going to Goodwill as soon as I inventory everything.  Have a few boxes of smalls I'm just going to donate to them also.  Tired of sitting on them at this point.

Most of my table is woman/household/kitchen items and cd/dvds.  Need to get more man stuff like tools and electronics.

After expenses I made $150 which is my highest to date.  $30 of that was the cloths rack I sold to one of the vendors.  Since I got it for free and have another was no biggie.

My helper (aka oldest daughter) abandonded me at noon yesterday to make survival bracelets.  The couple next to us that was helping one of the vendors makes them.  They showed my daughter how to and even gave her a ton of bracelets.  She help them make more to sell in return and is now working to make them at home.

All in all a very good day.  Is just time to break out the awning and sun-screen.

I'm right there with you Craigs, Ive found that clothes, unless I think I can get $1 or more, and anything I can't get at least 50 cents for (as long as it's small and doesn't take up space) goes straight to donation. The tax deduction is well worth it.

My tables look like yours, and I need to fight for more of the 'MAN' units at auction. I don't have enough 'MAN' stuff on my tables.

757
General Storage Auction Talk / Re: Collusion & Fraud and a grand down the drain?
« on: March 12, 2012, 07:32:02 AM »
Quote from: MatchesMalone on March 12, 2012, 01:15:11 AM
It would appear that you don't know Glendon's reputation around these parts. He hasn't represented himself very well when jumping onto these boards.

Glendon may not have a great reputation on this forum, but I can tell you he is a good guy and a wealth of knowledge. I communicate with him regularly (FB friends) and he helps me with questions concerning specific aspects of the "storage auction business" that I can't find on this forum or any other forum.

He knows a great deal about the storage auction industry AND about successfully running a business. His books and videos might be a little rough around the edges for some, but he knows what he is talking about, and he is continually watching the changes in the industry (storage auctions, retail business, legislation and laws, Ebay, PayPal, other leading technologies, products, resources) and keeping us informed.

758
Stories about Storage Auctions / Re: things that suck
« on: March 12, 2012, 07:19:00 AM »
Yep, this happens to me on occasion. Typically if they start the bidding before I have had a clear look at the room I jump the bid. When I here $25 then $50 and I am still in line I will typically yell out a $200! or $300! from the back. It's great cause everybody stops to look at the idoit who just yelled a bid from the back without seeing the unit. It serves two purposes. 1. stops the bidding cold for several seconds. 2. Allows me to cut the line to the front, afterall I am actually BIDDING on the unit! The best part, I have never been caught with a bad unit by using this practice. Every unit I have used this tactic on has finished higher then my rediculous sight unseen bid.

Just a warning, I generally get a good enough look to know what size unit and how full the unit is. I'm not gonna yell out $300! on a 5 x 10 with a lot of daylight and concrete floor showing.

759
General Storage Auction Talk / Re: Has anyone seen an acution like this?
« on: March 11, 2012, 07:30:38 PM »
Quote from: VinceRN on March 11, 2012, 07:01:01 PM
There is an auction coming up in our area at a facility that rarely does them.  This one they have been putting of for months, but now it's scheduled.  We go fairly regularly to the big monthly caravans in the area, as well as to a couple other regular auctions, but I've never seen anything like this.

They want everything moved that day, and they want you to give them an inventory of what you find in the locker.  They also say they reserve the right to buy back anything, without specifying what they'd pay or why they'd do it.  I was shocked when I read this on their web site.

Sounds to me like if you get a good score they want to be able to buy it back from you at what you paid for the locker, which would defeat the whole point of buying a locker in the first place.

Anyway, has anyone ever heard of an auction like this?

I'm not an attorney so my opinion may not be worth the key strokes but here are my thoughts.

Anything not written into the contract is non-binding. Verbal directions/instructions from the manager/employees is gobbly-gook. (Unless they are repeating verbatim fron the contract).
All contracts are negotible per law. (I strike out and initial sections of the contract I don't agree with when the employees aren't looking).
Always use the wording of the contract to your advantage. They have the right to buy back the contents, contract doesn't say at what rate? Charge them $5000.

The only time I have heard of such terms is when a facility is really concerned about lawsuits levied against them from the tenants whose property they sold. Maybe the management of this facility is not confident that their employees are organized and running the business properly. Maybe they have auctioned off the wrong units in the past.

Hopefully an attorney in contract law will join the forum so we can get some better advice about how to handle these unscrupulous storage facility contracts.

760
New to Storage Auctions? / Re: Just a couple questions.
« on: March 11, 2012, 06:52:19 PM »
Quote from: StorMe on March 11, 2012, 06:50:13 AM
Did you keep the totes?  ;) ;D

Very nice ROI BTW!


Yep, kept the totes, gonna start selling the ratier ones for $1-$3 at the flea, starting to get overloaded with empty totes.  ;)

761
General Storage Auction Talk / Re: Collusion & Fraud and a grand down the drain?
« on: March 10, 2012, 06:15:03 PM »
Quote from: rockin the retro on March 10, 2012, 01:26:37 PM
Well final update:
Don is over finishing the 'dump run'.  While there he ran into the other guy who was duped.  We've managed to find out that both units were owned by the same tenant and it seems he is.....wait for it.....a storage auction buyer.  No doubt an 'old-timer' with tons of knowledge on how to stage a unit.  So here's a new way to make money in this business....screw your fellow bidders.  Just make sure you find a way to keep your identity concealed.......unfortunately this one was not that smart.  And of course having a facility manager in your pocket can't hurt.

We're probably gonna take about a 700 loss on the unit, but thankfully we have enough inventory from previous units/endeavors to cover that loss.  Expensive lesson, but one that will inevitably be learned by many of our fellow local bidders.  And hopefully a few of you.  Do not pay a dime until you've got all the facts! 

I pray that I never become as crass and arrogant and unscrupulous as some of those 'regulars'.
 
I will state that the gentleman working the weekend there has been wonderful and told Don how bad he feels for what happened.  He basically confirmed what we knew to be true.  Nice young man with morals.....

Great!!! Since they made you sign that "contract" (by the way, Don was under distress, and a third party cannot compel you to sign a contract with another party without your knowledge and agreement. The "contract" is void.  No law degree, did take business law in college though) You now have the tenant's/storage locker buyer's name. Now you guys just need to put a face with the name and implement project "RUNHISA$$UP!!" I would make sure that guy never got a unit for a good price again!!

I wish you guys hadn't spent the extra time and money to clean out the unit. Remember the "contract" was between you and the tenant, not the facility. The facility had a "deal" with the tenant. I would have left that crap and told the facility "sorry, I don't have a contract with YOU!

Contracts are funny things. Cubesmart might have a full legal team at their disposal to cover themselves, but I bet the "tenant" doesn't. Might not hurt to consult an attorney and see if you can get some satisfaction from the "tenant". A nice little letter from an attorney telling this guy he is going to be spending a lot of time in court fighting a pricey lawsuit might make him consider a "deal" with you guys.

Good Luck!

762
New to Storage Auctions? / Re: Just a couple questions.
« on: March 10, 2012, 05:51:34 PM »
Quote from: StorMe on March 10, 2012, 07:47:53 AM
Have you seen the TV show called Hoarders Adnara? If you aren’t organized from the start you might end up with a house or storage looking like some of the houses on the show.

The best advice I have is, never keep something “Because it will sell eventually.” I’ve seen some people do this and the stuff usually sits around for a long while. Then what you end up with is a storage that has nothing but stuff that nobody wants and being saved, “Because it will sell eventually.”

The whole idea is to turn and burn everything. Hang on to only valuables and donate everything else (or bulk sell it – real cheap) after the first or second time trying to sell it at the flea or yard sale. Don’t think you are giving stuff away with the donations. Donating has its advantages and don’t forget the receipt!

Welcome to the forum! – I wish you all the best with your new endeavor!




Yeeeepppp!!! Just took 17 totes to Goodwill Industries today and I will be claiming $400 for that load of donations.

763
General Storage Auction Talk / Re: Collusion & Fraud and a grand down the drain?
« on: March 09, 2012, 08:19:18 AM »
I guess I am having a hard time wrapping my mine around the logic I see being used concerning this particular issue. I think it's mainly because where I live, the industry has no law enforcement component that I have ever seen or heard, and the law here allows the facility to take possession of the leined property and dispose of it however they wish, so ALL of it could be auctioned, SOME of it could be auctioned, or NONE of it could be auctioned.

I think if I understand the logic, it's the assumption of hidden value  in a unit based on the fact that the property was seized by a lein and will be auctioned off in whole, therefor any other type or condition of auction is fraudulent, mainly because of the decreased potential of hidden value/property?

In my mind, there is no difference between bidding on a unit with leined property in it that includes a couch, loveseat, and 10 boxes of unknown stuff; and bidding on a unit that the facility owner let his mother-in-law put in a couch, loveseat, and 10 boxes of unknown stuff.

The risk is the same. you have a general idea of what the couch and loveseat is worth in the resale market and if you bid beyond what is profitable on those two peices of furniture to get to the unknown boxes then that decision is on you.

I agree with one of the posters that in the long run it's not a good idea to have a reputation as a trouble maker for the other facilities that hold auctions. I would just avoid that facility all together until I heard from others that the managment has changed or it appears everything is on the up and up.

764
General Storage Auction Talk / Re: What do you think max bid should be for this unit
« on: March 08, 2012, 01:17:42 PM »
Quote from: bwd111 on March 08, 2012, 11:13:38 AM
Well found out the boxes were empty! I talked with the manger and he told me the guy was so mad and was throwing the boxes in the hallway screaming and swearing. Thinking the unit was staged! Again bid on what you can see. I almost just said the hell with it and was going to pay 2400.00 I guess its true if something looks to good to be true it most likely is.


Everybody in this biz needs to take a step back and look at this situation and the one Rockin mentioned in another post. The popularity of the TV shows and all the money getting thrown around is making this industry ripe for manipulation at the least and possibly fraud.

I will say it again. There is NO contractual guarantee as to the condition, quality, or type of contents in a storage unit unless you get an itemized inventory in writing from the facility, and that dosen't happen!

When you see a 10 x 20 with a table saw, mountain bike, & lawnmower up front, and the rest boxes; there is NO guarantee implied or otherwise, that the boxes are full & filled with tools or other nice stuff. They could be empty or filled with household garbage. That's the risk! Bid accordingly!

I am reminded of a unit a friend won several years ago. 10 x 20, front row filled to the top and each side with nice packing boxes, couldn't see a thing behind the front row. He won it for $600. The boxes, filled with paper. Behind the front row, the unit was filled with used, wore out tires! Of course he complained to the management, but they said they had no idea what was in the unit. How are you going to prove otherwise? Long story short, he just left the tires and never went back to that facility.

765
General Storage Auction Talk / Re: Collusion & Fraud and a grand down the drain?
« on: March 08, 2012, 08:52:51 AM »
Hey Rockin,

That story really sucks, if you can get $500-$600 back It might not be as bad a set up as you think. I have bought "staged" units and some I made money on and some I did'nt. There is no guarantee of value in any unit made by the facility to auction buyers, so it really doesn't matter if it is a typical customer unit we all think we are bidding on, or a build-up unit, consignment unit, or a garbage unit. This entire industry is poorly regulated and I know this is too cliche but it really truly is "buyer beware"! Remember, Don bid on what he could see from the door. He would have spent $1000 on that unit blind to any other knowledge.

 One of the best units I ever saw was one of these "consignment" units, the lady scrounged up just enough to pay what she owed but was flat broke otherwise and knew she would not have the money next month. She asked the facility to go ahead and auction off her contents even though she paid up, and made conditions that she wanted just a few personal items out of it.

I have also seen the "garage sale" units were friends or family of the facility owner/manager load their personal stuff they are trying to get rid of and auction it off. Since there is no guarantee of quality, condition, or type of items in the units, I am not sure how you can claim a suit of fraudulent representation concerning the contents themselves. I guess you could argue you had no agreement to enter into a consignment contract with the tenant. If you plan to pursue this in court, I would'nt start selling off the contents of the unit until you get some legal advice.
 
I'm no attorney, so I can't say how far you would get with a lawsuit. You would be fighting a corporation so I am sure they could keep the case in limbo for a long time and drain you guys of time and money. I guess the only thing I would have done is refused to hand over the money when they started to push that consignment contract in front of me, and let them try to sue me. I am sure they would'nt bother and just sell it to the next highest bidder or re-auction it off. Like I said, not sure what kind of case you have, but you can certainly spread the story around the auction crowd and hope it hurts their auction attendence.

Anyway, I feel your pain, I have bought units that had a few nice things up front and nothing but household garbage and paper/junkmail in the back. Were these units purposely staged by the manager/facility? Were these units completely set up? Who knows, but it's just part of the business and learning not to over bid, remembering that 90% of all units are a gamble, regardless of if you spend $5 or $1000; everyone who gets in this business is gonna pay for a booger or two or even more the longer they stay in it.  

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