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General Storage Auction Talk / My poker buddies are apparently con men...
« on: April 14, 2013, 07:56:04 PM »
Saturday night I was with some buddies playing poker. Nothing surprising there. One was asking questions about a new business he was thinking about starting, and that led to talking about how I am considering getting back into the storage auction and resale game, at least part time.
They had questions about how things work and I gave them the 10,000 foot overview. The inevitable question came up about the storage facilities making money off the auctions and I told them about how in a lien auction they only get what they're owed and in theory have to give anything over that to the owner.
The next thing asked was :
"Well then... couldn't you just rent a cheap locker, put a lot of boxes in with labels indicating expensive items, or empty boxes from expensive items and decoys, then let the unit expire and see if someone paid more than was left on rent to make a buck?"
Sometimes I worry about the people I hang out with...
They had questions about how things work and I gave them the 10,000 foot overview. The inevitable question came up about the storage facilities making money off the auctions and I told them about how in a lien auction they only get what they're owed and in theory have to give anything over that to the owner.
The next thing asked was :
"Well then... couldn't you just rent a cheap locker, put a lot of boxes in with labels indicating expensive items, or empty boxes from expensive items and decoys, then let the unit expire and see if someone paid more than was left on rent to make a buck?"
Sometimes I worry about the people I hang out with...