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Messages - Cobia

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976
General Storage Auction Talk / Re: I'm quickly learning to hate pianos
« on: September 16, 2011, 07:41:25 AM »
Thats funny, it's not pianos in my area, but rear-projection TVs from the 70s and 80s that are the problem with so many units.

977
New to Storage Auctions? / Re: Was this a one time deal? or my noob mistake?
« on: September 16, 2011, 07:35:07 AM »
so i went to a packrat storage auction and right off the bat i see a 150 gallon fish tank and compound bow and some antiques in the corner along with very large mirrors. needless to say i came in with the tactics of wanting to wait for the bidder to say going once going twice and then id come in and start bidding instead of going against several bidders at once and avoid racking up the price even more.
anyway as i waited for that going once going twice the auctioneer didnt say the words i was waiting for and said sold , the unit sold for 200 bucks ( super clean and profitable unit)
i was thoroughly upset that i lost out on this one but my question is has this ever happened to you?
is this a common thing for them to say going once going twice or was this a big noob mistake?

thank you ???

Just part of learning the game! Thats why I and others recommend going to the auctions for a couple of months and learing the process before bidding on a unit.

Every auctioneer is different. You just have to get to know the styles of the auctioneers in your area. Some like to move quickly and do the traditional auctioneer chant. Others will let the bidding crawl along so that everyone who wants to bid the maximum they want to spend gets a chance. Some don't even auctioneer, they just let the crowd bid amongst themselves till the bidding stops.

Not a noob mistake, just part of learning the business.

978
General Storage Auction Talk / Re: I am beginning to think...
« on: September 15, 2011, 07:29:24 AM »
Thats because most storage these days is for moving. Rather than disposable income

Hey Movieman, Bandit,

You been doin this a long time. Have you noticed a measurable change in the quality or type of things stored in lockers over the years, are is it still pretty much the same kinda stuff since you first started?

979
That ROI looks about right to me, but a word of caution for the new folks, that does'nt take out all the expenses (fuel, labor, dump run, sales fees, etc.) or income taxes.

980
General Storage Auction Talk / Re: I am beginning to think...
« on: September 15, 2011, 07:15:08 AM »
In GA its 3 of 4. along with the Georgia suitcase (garbage bag full of clothes). There are about 20 of them in every locker.

Thats funny, I call those Alabama suitcases!  ;D

981
Does anybody have any suggestions on how to go about purchasing storage lockers without a place to put the items I purchase.

Can I just rent the locker for a week or so and sell the items on craigslist and have customers come with me to pick them up at the unit?  I really dont know the rules with storage units if I have to actually take the items to sell even if I purchase a storage plan until I successfully sell or clean out the locker.

Any advice that you have to offer will be greatly appreciated.  Would love to start doing this as a hobby, but not sure if its realistically possible without a storefront or place to keep the items I buy.

The only advice I can give you is to rent your own storage locker to do the storing/sorting/selling from. You will need something big like a 10 x 20 or 10 x 30. Actually you will probably need two storage lockers, one to sort from one to sell from. What are you gonna do with the trash? Thats a lot of dump runs? This is going to be a REAL expensive hobby for you.

Maybe you should just start with picking garage sales, estate sales, flea markets until your situation changes. I think you would be biting off more than you can chew getting into storage auctions.

982
General Storage Auction Talk / Re: At what point do you throw it away???
« on: September 14, 2011, 08:10:21 AM »
I think it depends on whether you are a hobbyist or trying to run/grow a business.

A hobbyist has the luxury to squeeze the last bit of sales out of thier inventory before buying another unit, someone trying to make this business doesn't.

To keep it simple, as soon as the current inventory is keeping you from bringing in new & better inventory, it is time to move that inventory out. As far as paying for storage, you need to determine when the potential income of the inventory you are storing compared to the costs to store it, and the loss of that space for other inventory, is a negative return. Then you move it out. Donate, give it away, sell it real cheap to another reseller.

P.S. I finally get to post something, that server issue was terrible!

983
New to Storage Auctions? / Re: Washer / Dryer and other scrap metal
« on: September 07, 2011, 07:43:50 AM »
If the units are working, I would try to sell them off before even thinking about scrapping them. Here, if old used washers and dryers I can sell off for $50 each. Thats double what the scrapyard will pay for them.

Same way here. I get $18 - $20 per washer/dryer at scrap yard. So if I can sell a beat up piece for $25 I am making more money than scraping it.

984
Stories about Storage Auctions / Re: Jackpot ! Jackpot in the Safe ?
« on: September 07, 2011, 07:37:28 AM »
About the cherrywood display case,

I have done real well on display cases like that. Typically $100 - $150. If its upscale name brand or large commercial style it goes to $250 - $500. Being in California where things are more expensive and people are use to paying more then where I live, you may be able to squeeze another 10-20% off my numbers.

985
My humble advise is to spend some time brainstorming and think of a "niche" market. Start with areas of your personal interest and experience and see if you can develop an idea that will work around the construct of a
"thrift" store and getting product from storage auctions.

Movieman has made a point, many people are starting up general merchandise thrift stores adding to the supply and you still have to compete against the salvation armys and goodwills who get so much inventory for free.

I am not saying you cannot be successful starting up a general merchandise thift store, I just think catering to a niche market can help overcome the supply side competition that is already established.

Good Luck

986
Stories about Storage Auctions / Re: Lookey Loos Part 9.....September, 2011
« on: September 05, 2011, 08:30:52 PM »
I didn't see a single person turn away and leave because of the dollar.  A lot of people made jokes about it, but they all paid.  

I only got one donut, so I guess my admission was only .50? ;D

There is an auctioneer up here that charges everybody a dollar to get a bid card.  He's been doing it for years, and he still gets pretty large crowds.  

Next time get three donuts and make .50 back  ;)

987
General Storage Auction Talk / Re: Weather
« on: September 03, 2011, 04:25:45 PM »
This spring we had an auction the day after major tornadoes went through our area. At least four towns had major damage and deaths. Well anyway, as all the regulars started to arrive you could see everybody giving each other that look like "what the hell are you doing here!"

Long of the short, same size crowd. funny in a surreal kind of way.

988
Garage Sales / Re: Garage sale today
« on: September 03, 2011, 04:05:50 PM »
Selling alot of my items for a dollar or less. Some $5 items. Then a few higher items. The morning rocked, but now it is down to a slow crawl. Made $85. But remember most of the items are for a dollar or less. So I am pleased with what I made. Im just trying to get rid of this inventory so I can completely refresh it. Here in about 2 hours I will be packing all of it up except for a handful of items(saving for a different day) and I am donating it to a thrift store to get my tax write off.

Sometimes thats all you can do to clear space so you can buy more units.

989
Stories about Storage Auctions / Re: Stupid people piss me off
« on: September 03, 2011, 04:00:48 PM »
Grrr. stupid people.

Here is an example today at garage sale. I have a Precious moments doll, retail value of about $60. Resell Value I would place it as $15 according to condition. I had it in ym yard sale today for $1. Which is a big ass dixcount in my opinion. A lady came by and asked how much, I told her a dollar, she held onto it and 30 seconds later asked how much for it, 50 cents? And again I told her no, one dollar, she hissed and huffed under her breath, but still bought it.

This is the kind of crap I deal with all the time doing yard sales in this neighborhood. Cheap skates. :\

Come on JrossJr, handle your customers! LOL! Next time when someone asks 50 cents, say "let me see that again?" "Oh, I'm sorry, that one is 5 dollars." Guarantee she won't pull that crap again.

990
The first time i bought a locker there was a hella nice dinning table but my idiot ass couldnt carry it so i didnt wrap it or anything. When i took it out the truck i scratched the thing to hell so i lost a good amount of money it woulda been worth

That is whats great about running your own business. You can research all the "how to" resources, like this forum; but nothing is a better motivator then learning from your own mistakes that cost you money.

I am reminded of a qoute, and I am paraphrasing here.

"Your employee just made a huge mistake and cost your company $500,000. Are you going to fire him? Hell No!! It just cost me $500,000 to train him!"

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