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Messages - Cobia

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796
The Treasure Chest / Re: Nazi Silver
« on: February 13, 2012, 07:47:34 AM »
*UPDATE*

After going through the entire collection I have about $190 worth of silver coins and collectible coins not include the $35 worth of coins I sold to a friend. There are about 50 european coins pre-euro may or may not be worth face vaue. I have 3 coins I was not able to identify/value.

Also in the coin box was a vintage 1940s/1950s ladies silver and jewel crusted watch. I don't think they are diamonds, not sure when they started using cubic zirconia in jewelry. A pearl necklace with a 14k gold clasp, and wait for it, wait for it, a gold tooth cap! One source on the internet said there is roughly $30-$50 worth of gold in dental tooth caps.

797
Flea Markets / Re: MY First Time
« on: February 10, 2012, 06:25:24 AM »
Yesterday I setup for the first time at a flea market, honestly before this and my Antiques mall/indoor flea market ventures (all started in the last week) I have just sold to people I know and ebay. 

I have checked this flea market out twice in the past month and it has been pretty dead, but since it is 2 miles down the road and I visted it many times as a kid during the summer I thoght it would be a good place to get a feel for it before I travel 25 miles to a much larger flea market next week.

I setup a little after 7 and there were maybe 20 vendors there.  This was about as many or a lil more than were there my 2 previous.  Vendors were showing up until around 8:30.  By then I had sold about half of what I sold all day. It ended up being much more vendors maybe 30-40.

I did much better than expected for this small flea market.

After gas and breakfast I made $180 minus cost of products.

I got a good feel for what sells, I think I sold some things for much lower than anyone else but thats why I went to sell.



Are you gonna try the flea market in Summerville? A lot of the old timers say thats a real good one to sell at, but they also say sales aren't nearly as good as the use to be like 10 years ago. I sell at Dalton, might be a little far for you. Well if you ever do an Auction in Dalton, Calhoun, Cartersville, Jasper, or Dawsonville you might see me there. I don't do Alabama side auctions anymore, too much junk, too much gas money. I haven't been to Rome for an auction yet, but i'm sure it's all junk there too, right?  ;)

798
New to Storage Auctions? / Re: Noobie Packing List
« on: February 09, 2012, 08:45:28 AM »
I'm in the military and we always have a "packing list" prior to a mission.  You should look at your day of unit hunting as a mission as well and be prepared with all supplies necessary. Here is a list of items and mission plans.
Items:
1. Locks. As a noob you will need 1-2 "key" locks. As you get more experience, more locks.
2. Multiple copies of your drivers license. Many, not all facilities require it before registering
3. A 3 million candle watt flashlight, torch. Commonly found at home depot. Don't bring a cheap double AA battery Maglight brand. You may get a 5%+ advantage over the competition because you were able to see the ONE item to make more profit.
4. Food, water and gas.  If you schedule your auction schedule like I do, you will be maximizing your time by going from one auction to the next with no time for breaks. This is part of your pre-planning the day before. If auction "A" starts at 9:30 and had 5 units for sale with an average sales time of 5 mins per unit......and auction "B" starts at 10:30 but it takes 30 mins to get from A-B how much time do you have at "A"? Lol, this is not a math problem, I just want to get you thinking of planning. So, bring plenty of food and water, full tank of gas and full pack of cigarettes.  You may be like me going from auction "A" to "F" just like this from 9:30 to 2:30.
5. Personal protection. Depending on your state laws!  I carry $7000 on me just in case I find a great unit. With that much cash I want to protect myself, "just in case", so I carry a Glock 19C and OC(mace) spray. I have seen plenty of fights break out at auctions over a few dollars or someone being arrogant. PLEASE follow the rules and laws of your state when protecting yourself or others.
6. Printed out "map quest" type directions taking you from point "A" to "B" and even point "A" to "D" incase auctions B and C were cancelled last minute.
7. A smartphone with a "barcode" application.  You never know when a company has stored brand new items in the box and you have no idea what's inside.  You can snap a picture of the barcode and you phone will tell you the approximate value of that item. Obviously there are other uses for a smart phone at an auction.
8. A friend, truck, storage space, etc on standby. You may need help with all these things. Your friend to lend you his truck and give a helping hand, then allow you to use his garage. Otherwise expect to spend another $100+ on a rental box truck, spend 8 hours loading/hauling and putting everything in your living room while your wife/girlfriend/other beats you over the head with an empty beer bottle telling you to "get this crap out"!!!!!!
Anyways, good luck noobies and be prepared for a rude awakening. This is really hard work, time consuming and nothing like T.V.
By, a3rdRanger

9. Umbrella & jacket never know when it might start raining/snowing and bad weather actually ATTRACTS people to the auctions. Sunscreen & sunglasses, you will be surprised at how red you can get during the summer attending auctions all day or all week.
10. For the height "challenged" folks like me, bring a milk crate to stand on so you can see whats in the back of the unit behind the boxes and furniture. Sure a few people will laugh and chuckle, but why should the tall guys get the advantage of seeing everything in the unit? Also makes a good chair so you can take a break when you are waiting for 125 people to look at a unit before the bidding starts.
11. Black gloves so you can slap the little kids standing in front of the unit out of the way without leaving any finger prints on them. (just kidding! or am I?) Actually the gloves are good for if you win a unit you can do a quick search through the unit before the next auction.
12. One of those "Miracle Ear" devices so you can eavesdrop on the other attendies and hear what they are wispering.
13. Binoculars, again plenty of laughs and chuckles, but unless you have better then perfect vision, even with a high power flashlight it's hard to make out everything in the back of a 10 x 30 or 10 x 40 unit.
14. clipboard & notebook, only for the "nerds" who like to track data and do statistics.
15. Business cards to hand out to the "newbies" who over bid on units and get in way over their heads.
16. Donuts, candy, gifts to give out to the storage facility employees and the "main players".
17. Team of experts on speed dail ready to research those unique items that pop up in units that look valuable but you have no idea what they are worth.

799
New to Storage Auctions? / Re: Skip Tracing, advanced storage buying
« on: February 09, 2012, 07:56:41 AM »
On topic, I use to research the owners but I have found that when the door goes up what you see is what you get.

Two examples of research that taught me to not put much faith in it.

Ex. #1 unit owned by a prominate attorney in a small town, six figure income, million dollar house. Door goes up, "Alabama suitcases", junk, fallaparticle board furniture, etc. 5 x 10 Unit probably worth about $40. Guess which dummy ran the bid to $250 based on "research"? As it turns out, the personal paperwork and other clues told me the contents of this unit were owned by his college age son. I lost about $125 on this one. Now I don't know why this prominent attorney let the unit in his name go into default, but it definitely was not his stuff in the unit.

Ex. #2 unit owned by a single mother (most likely an immigrant) living in public housing. I know I am NOT going to pay a lot for this unit! Door goes up 10 x 20 pretty well full, furniture looks pretty good from the door, a lot of work though, I win the unit for $200, I guess cause nobody else wanted to mess with all that furniture in the middle of summer. Turns out inside the unit was a complete bedroom set, dining room set, living room set, all nearly new Ashley Furniture. I think I made around $2300 on the furniture and all the boxes of household goods.

So the long and the short is I don't care about the persons name, assumed ethnicity, age, gender, whatever; I just take my time and do as complete an examination of the contents of the unit as I can before I start bidding.

800
New to Storage Auctions? / Re: Skip Tracing, advanced storage buying
« on: February 09, 2012, 07:29:18 AM »
In Georgia we call a locker full of black plastic yard bags, "Georgia Luggage".  Usually someone who was recently evicted from their home/apartment needs to load things up quickly and cheaply will place their belongings in trash bags.  It also says a lot versus well packed, labeled, taped, quality moving boxes stacked in a unit.

We call them "Alabama suitcases" but whatever.  ;)

801
Storage Auctioneers / Re: charging admission ????
« on: February 08, 2012, 07:47:11 AM »
I really like this idea as a consistent storage unit buyer. In my opinion, the extra $5 per location spent on not winning a unit is worth it if I can start winning $400 unit for $200.

Now for the part-timers and lookie loos, this my seem like a bad idea but consider there is an admission fee to go to sporting events, car races, movies, etc. any other form of entertainment, so why not the auctions?

I look at it this way. I go to 10 auctions, they are all garbage units, I spend $50. Then the next auction a real nice unit comes up and because there aren't a bunch of lookie loos, newbies, part-timers running up the bid I get a unit for $600 that right now would go for $1200 or more.

potential $600 saved on unit from excessive bidding minus $50 in auction fees = $550 saved!

802
Craigslist / Re: Listing On CL Advice
« on: February 08, 2012, 07:30:08 AM »
Here are few things that I do that have helped get more sales and top dollar on CL. If anyone else has any ideas plz chime in.

1: I list free local delivery.

This had led to a ton of sales on refrigerators and furniture. Over 50% of the sells I deliver and they buy just off the CL pics posted, because they don't have transportation.

2: I try to always take pictures with the storage unit seen in the back of the picture. I don't know why but I have gotten higher dells volume since I started this practice.

3. I put we accept Visa Paypal And Cash. Square.com has a free app for your smart phone to take credit cards.

4. I give out business cards to every sell and ask them if they are looking for anything else. Often times I have what they need already and up sell them.

5. The obvious.... always post pictures


One of the techniques I have noticed lately with individual sellers not just stores, is to offer layaway. I am considering it myself on some of my higher end furniture. Like the business card thing, need to start doing it more often. My have to look into the credit card thing too. Funny, you mention the storage unit in the picture, my wife says our sales were stronger/faster with the furniture pictured at the storage facility instead of inside the store. I no longer have the store, but a lot of my left over furniture was photographed in the store, and responses have been slight to nill. I think I need to re-photo my leftover furniture and re-post.

Thanks for the info.

803
New to Storage Auctions? / Re: Beware of PODS delivery
« on: February 08, 2012, 07:24:01 AM »
FYI, be careful when buying a POD at a storage auction.  I bought one and decided instead of loading all my treasures into my truck, I would simply have the POD delivered to my house. I got a half price delivery deal, since I bought the POD.  It was delivered on time, right in my driveway.  Only problem was when they entered my delivery address their computer program automatically sent the "owner" an email of where the POD was going (my house).  So, when I pulled into my driveway and was happy to see my POD, I was quickly approached by two large thugs demanding I give them back "their" property. It was a very uncomfortable situation that could have gotten....let's say physical or deadly.  Especially since I found narcotic "stuff", gun "stuff", baggies and scales, bullet proof vests, police uniforms and MANY car radios/cd players etc etc inside the POD.   So, just make sure if you buy a POD and have it delivered they don't inform the owner of your info!! 

That is truley scary! Why in the world would PODS give the former owner your address! I hope you ate their lunch over the phone or in person for such a stupid act!

804
The "Other" Job / Re: Challenges of Working Full Time
« on: February 07, 2012, 08:03:26 AM »
Like the others have said, Saturday auctions tend to be very different from weekday auctions. The overall crowd numbers are higher, the number of regulars tend to be lower because they are selling at the flea market or thrift store, and even the lookie loo crowd is different from the lookie loo crowd during the week. I find weekend auctions interesting because the part-timers tend to way overpay for units, but at the same time , because there are so many novices, the door can go up a unit that being a regular you know is an immediate money maker, and the rest of the crowd will just rebuke it and claim it's all junk, so you can pull a decent unit for less then during the week right under their noses. With Saturday crowds, all it takes for a couple off loud mouths in the back to bad mouth a unit and the rest of the crowd comes into agreement pretty quickly. The same thing can happen with a unit that a few people think looks great, then the part-timers bid the unit out of sight!

As far as attending auctions during the week for people who work during the week you just have to accept you are going to miss quite a few auctions. Look to attend auctions with a high amount of units up for auction. Try to take lunch breaks around the time of auctions so you can attend them, and if you have leave time, take a day or two a month to hit the better caravan runs in your area.

Once you get to know your area, you will find that there are facilities were 80-90% of the time you are not going to miss anything if you can never attend their auctions. Concentrate on finding the time to go to auctions where their tend to be units that are consistent money makers, meaning you always see at least one or two or more units that have the quality of merchandise that will sell.

805
Flea Markets / Re: flea market rantings ravings and perhaps a tip or 2
« on: February 07, 2012, 07:42:37 AM »
hi been lurking here a little while and thought i would share some ideas ive picked up over the years

im new here but have been going to flea markets for 20+ years

there are basically 3 kinds of flea markets ive been to
1  colectable/ antiques/crafts markets, these can be good for the right person  but ive always been of the mindset that the good stuff can always sell through other channels so i dont go to them

2 new item markets the place where mostly or all imported crap and tshirts and the like again for what im trying to do its no good so i dont go to them

3 the swapmeet type market , this is where ive been going for the past 10-12 years and it has been suiting my needs and this is primarily what i will be referring to

i must say this place has always baffled me and probably always will , im going to give several ideas and your results may vary tremendously retail markets will always vary as much as the people who come to them

the people who shop at my market are about  75% immigrant from all over the world lots of hatians jamaicans hispanic asians and russian and thats who i gear my stuff for when im packing

you results will vary depnding on your market and you customers

what sells for me

clothing mens jeans pants and shoes sneakers and boots baseball hats too
jeans and pants $2 a pair  hats $1 each shoes boots and such anywhere from $5-$25
 
womens clothing has been very very very hit or miss with me i try not to bring it anymore with the exception of decent name brand womens sneakers  and hats  sneakers $5-10 hats 1-3$
pocketbooks have sold for me in the past but i do better with them somewhere else so i dont bring them anymore

kids clothes
again shoes sneakers and boots sell well the rest of the stuff very hit or miss , if i found a kids consignement shop i wouldnt bother bringing them here

records very very very hit and miss but very good sellers if you get the right bunch for the crowd your selling to $1-2 per (note i dont search mine so i am probably selling things i shouldnt at this price )if i get something out of the ordinary i will sell it by itself (collections of 45s or 78s come to mind )

toys move pretty well i put a box out in front of my tables and price according to the piece (PUT IT OUT FRONT !!!!!!!!!!!!!) hide it inside your both and you wont sell 1/4 of what you will out front


I do test all my electronics before i go and if they have a problem with them they can bring them back
video games , in these types of markets there are always collectors and dealers walking around that can be good and bad , but ive been putting stuff out and selling it every week (note i do search this stuff pretty good and any hidden treasures i get go on ebay)

boomboxes i get rid of the cheap ones 10-15 dollars and they go
dvd players  the cheap ones $10 nicer name brand ones $20 anything superhigh end doesnt come here

speakers hit and miss i hate them because always wind up beating the crap out of them in the van on the way there or dropping them unloading them
nothing real good comes with me
receivers cassette decks turntables mini component systems etc all sell well make sure you dont give away anything to valuable

tools always sell well

sporting goods usually sell well in season, soccer + basketballs go year round (buy a inflator pin and make sure they are full it does make a difference)
rollerblades good year round i only bring the cheap ones and am getting $5-10 a pair

cds $1 each and they go $2 each and they sit (your results will vary)
DONT BRING THE SAME CRAP EVERY WEEK OR THEY WILL QUIT LOOKING AT IT

dvds $3 $2 late in the day


costume jewelry goes well

watches sell fairly well $3 and up i put batteries in mine and make sure they all work

small furniture nightstands small table etc good I only bring it if i have room in the van for it , even the small stuff takes up a fair amount of room and doesnt  generate a lot of cash but it does move (also consider what your customers are driving and will they be able to carry it out and bring it home)

towels = instant cash if you price them to move them

sheets curtains and drapes yes move well

cheap bikes move well mens boys and ladies (girls bikes not so much )
i only take the cheap ones the better ones are sold elsewhere

wiring all sorts of wires sell , sort them out and rubber band them so they dont get tangled (power packs sell too)

dishes plates cups all move you wont get much for them  (you can if they are complete sets though)

video tapes if i have room on my tables ill bring them but they arent a priority anymore at a dollar each ill sell 3 a day , however at 50 cents a piece i can still get rid of $10-20 worth a day and im just going to wind up throwing them out otherwise. I would not however bring the same ones twice i get rid of them after the flea market

household chemicals you know the crapload of cans under your kitchen sink
cant say you will have the same results butt i get rid of 80-90% of what i bring within an hour after  i put them out

i primarily use the flea market to get rid of stuff that would be just to big a nuisance to get rid of otherwise and price my stuff to move volume , theres a lot of competition where i am but i still manage to sell 1/2 my load everytime i go out , im not getting rich at the flea (i do kind of like going there too)

other things to consider
put your stuff on tables the majority of folks dont want to bend over

get the same spot everytime , the regulars will begin to come to you if they know where you are

table like type merchandise put all your tools on one table , all your dishes and stuff on one table etc

buy or make a display case , people will walk over just to see whats in it

if you have multiples of one larger ticket item (selling for over $10 for the sake of argument) only put one or 2 out and give them a prominent spot in the front of your booth you want as many people as possible to see them but if you put out 12 its actualy a deterrent to sales or an invitation to get your balls broken on price

people are busy , yacking on the phone talking with their friends yelling at their kids ,figure out what are your best sellers and make sure you keep them out front (unless they are real small things , keep those close to you so they dont get walked off with)

people dont like looking at the same stuff over and over again
if storage isnt a problem for you carry stuff for 2 or 3 weeks and store it for a month and try it again OR
try a different market
 Or  see if you can find another person a the market to swap junk with (I cant tell you how many times ive given crap ive been carrying for several weeks to the guy next to me and watched him sell it quickly, and many times ive taken his garbage and sold it )
it might not be new but its new to you

if storage is a problem then just get rid of it , if youve carried it x # of times and havent sold it and reduced the price and still havent sold it bail on it, throw it out donate it give it away , you can and will be able to sell everything at the flea market eventually but if you dont keep moving stuff and keep buying new stuff you will be OVERWHELMED with crap in no time flat .

test everything you can and if its broken sell it as broken , it doesnt take long to get a reputation as a bad guy to deal with and all the regular buyers chat with one another at one time or another

do some quicky fix work , as i mentioned with the sporting goods i now pump up all my balls before bringing them and in the year ive been doing it it does make a difference , bike tires same deal make sure they are pumped up, anything thats complete and ready to go is going to get a higher dollar than things that need even a miniscule bit of work

I bring or buy batteries when im there aaa aa c and d anything i have battery opperated gets demonstrated after the customer pays and before they leave 

generator im gonna spring for one sometime this year for the same reason i bring batteries , so i can demonstrate what ive got . This will affect any sales of electrical items with quicker sales and higher prices . This is a decent sized expense and i suggest you do this enough to know if you want to continue before you go drop the cash on one

tent  canopy or umbrella is a  very good idea for anyone
, ive worked without one for several years and am going to get one this spring im a wreck on mondays after being out in the sun all weekend .
if you do make sure they are anchored good to the van or the table or weighted , wind can send these flying (further than you would thing )

pricing before you consider dropping the price , think about raising it , you can scare people off with prices that are too cheap, case in point 10-15 years ago i got 12 brand new in the box timing lights (retail about 35$ back then) i tried selling them for $10 and nothing sold for several trips to the market . I was telling a friend about this and he suggested i take them out of the package roll them around in some dirt and sell them for $20. I thought he was nuts . Eventually i did try it his way and sold all 12 in one weekend ........go figure 

hope someone gets some use out of this





Great post! I concur with everything youve said on here about the flea market! In fact, I have the same issue with women's clothes and they are starting to overwhelm me. What other outlets do you use to sell the women's clothes and pocket books/purses? Everything I have is name brand good condition. I am not ready to just donate them yet.

The one thing I would add for other vendors is some people at the flea market just LOVE to treasure hunt, so having a couple of unsorted boxes in front of your tables for the treasure hunters to sift and search through is great for pulling money out of those type of shoppers.

806
New to Storage Auctions? / Re: Just started, here's my first go at it
« on: February 07, 2012, 07:23:23 AM »
Now moving on to a little bit of a 'bigger ticket' item.  Mountain Buggy Urban Double Stroller:





Lightly used, has some scuffs but this thing is built VERY solid.  Retails new for around $700.  Just gotta find that active mom with two kids....

It's on CL as of yesterday, my buddy wants to put it on eBay but I think it's a bit much to ship.  It doesn't fold down so we'd have to disassemble it.  Probably weighs 40lbs, maybe a little more.  What do you all think?

I never would have guessed that I'd start out reselling children's items....

Nice find. Don't be surprised at how low the offers will be, or how low you will have to sell it to make it move. I found a similar style jogging stroller in very good condition that retailed not as high as yours, about $250, that I eventually sold at the flea market for $30. It's fun finding valuable stuff out of units, the hard part is getting anything close to retail back out of them. But as the saying goes in the storage unit business "You never know!"

P.S. Stay in this business and the "surprises" about what you will be selling will definitely keep coming! You have no idea how deep the rabbit hole can go!  ;)

807
New to Storage Auctions? / Re: Resale License
« on: February 06, 2012, 10:47:19 AM »
Thank you Cobia.  Your response brings me to another question. Although I have attended a couple of auctions, I have not purchased a locker yet.  If you do, do you have to pay sales tax on it? 

I am hoping to start buying lockers within a week or two..... 8)

Charging sales tax on units won at "Public auction, public outcry, or lien sales" seems to be a fuzzy area concerning what the law says. Regardless, be prepared to pay sales tax on top of the bid price at some facilities. In my part of the country there is only two corporately owned storage companies that charges sales tax on top of the winning bid price. The other corporate facilities and independent facilities do not charge sales tax. There is also another charge to be aware of and it's called the "buyers premium". In my area it's generally 10% on top of the winning bid. Like sales tax, some facilities have a buyers premium, some don't. Generally the buyers premium is meant to be a little more gravy for the profeesional auctioneer running the auction. Sometimes you might find a facility were the owner or manager is running the auction and adds a buyers premium, although this practice is pretty unscrupulous, it's just one of those things you gotta put up with to play the game. In my area, I have yet to see a facility charge sales tax and a buyers premium together, but I know it happens in other parts of the country. Be on the look out for the last hidden charge, cleaning deposits. Typically around $50 per unit. You get the money back once you clean out the unit, but while you are bidding on units you must keep this additional charge in mind as part of the overall price of the unit when it comes time to pay.

If all three charges are in affect where I live that takes a $500 unit up to $650, yikes!

808
eBay / Re: Ebay items from storage lockers
« on: February 06, 2012, 07:20:13 AM »
Don't get sucked into the flat rate shipping trap. I think alot of people do it becaus ethey are too cheap to invest in a postal scale but unless your selling heavy car parts, metals, etc 90% of the time your throwing money away using flat rate shipping or making the customer pay an exorbitant fee for shipping. Flat rate boxes really aren't all that big to hold larger items anyway. Invest in a postal scale, you wont be guessing and getting packages shipped back to you or the buyer paying the remaining shipping, You'll know exactly what to charge and you wont have to pay the extra for flat rate shipping

^^LIKE^^

809
New to Storage Auctions? / Re: Resale License
« on: February 06, 2012, 07:11:40 AM »
Good morning and good Monday,
Do you need a resale license to be a regular seller on Ebay or a regular seller at local thrift stores/flea markets, etc.?

No, A resale license is really only needed if you intend to do storage auctions as part of a larger licensed business, like operating your own thrift store. The main purpose of a resale license is to save you from having to pay sales tax on the inventory you purchase (storage lockers) because you are required by law to collect sales tax from your customers for all inventory you sell. Basically it's used so your not taxed coming and going.

Look around the forum, you will find information as to the threshold of sales per year from Ebay required to be reported to the IRS, after a certain level of sales (dollar amount) I believe Ebay will send you a 1099 for the year, others on here may have more info on Ebay sales and tax implications.

Flea markets vary from state to state and location to location. Some flea markets are true "free markets" where the responsiblility is totally on you to "do the right thing" and report your income and collect sales tax. Some flea markets have a mechanism for charging you a vendors permit and daily sales tax reciepts. There has been talk of a few, rare, instances of flea markets or vendors malls requiring business licenses and liability insurance to sell on thier property.

Hope this helps...

810
New to Storage Auctions? / Re: Where To Sell
« on: February 03, 2012, 07:40:41 AM »
I will hit the pawn shop for fast cash on items that aren't moving fast enough for me. But they totally rip you off. Rule of thumb around here is they sell for 1/3 of retail and pay 1/3 of what they sell for. So $100 item retail, they sell for $33 so they give you $11. 
Same item on CL or eBay will go for $30,$40...$80?

I had a $500 Snap-On socket set, brand new, latest model.  Their final offer was $70.
I sold it by just walking into a auto shop for $300.

With Todd.  Pawn shop is at the bottom of the list.

I have taken several items to the closest pawn shop to my house just to flip something quick and get some money, but each time they didn't even want to buy what I had. I just avoid pawn shops all together. The employees at the one by me act like such snobs and if they did make an offer they would be doing ME such a BIG favor!

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