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Messages - sbell111

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31
General Storage Auction Talk / Re: Flip or hold?
« on: February 28, 2011, 07:29:20 AM »
We try to get rid of everything as fast as possible.  We simply don't have the room to sit on a bunch of stuff and don't need or want it to clutter up our lives.

32
Stories about Storage Auctions / Re: Your First Unit Won!?
« on: February 28, 2011, 07:23:30 AM »
Honestly, it wasn't that hard of a hit.  I was surprised when the insurance company totalled it.  The reason that they did total it is because she hit me right in the rear wheel, which bent the cage that supports the engine.

33
New to Storage Auctions? / Re: Taxes - To pay or not to pay!?
« on: February 28, 2011, 07:21:06 AM »
in GA
sometimes there is a sales tax
sometimes a buyers premium
sometimes a deposit
every auctioneer and storage facility is different.
As for me I pay the tax if they want it.
but sell my stuff at yard sale and flea market
If I had to keep up with taxes I'd go back to a real job

Legally, we are responsible for collecting sales tax and paying it to the state regardless of whether we sell in a store or at a yard sale/flea market.  The only time we wouldn't be required to collect sales tax is if we are selling over the internet to an out-of-state buyer.

edited to add that we also wouldn't collect sales tax if we were to sell an item to a registered business which is going to resell the item (and has a reseller cert), since sales tax is only paid by the end user.

34
Stories about Storage Auctions / Re: Your First Unit Won!?
« on: February 27, 2011, 04:45:08 PM »
My first was a 10x10 that I got for 140ish.  As I recall, it was mostly trash.  I think that I sold most everything (after the trashman) at a yard sale for about $250.  It was a profit, but too much work was involved to get that $100.

The second auction yielded me an old pontiac fiero for $250.  I had temporary tags on it while I was obtaining a title and getting a few small things done to it so it would be registerable.  I drove it to work one day and someone blew through a stop sign and t-boned it right in the drivers side rear wheel, totalling it.  Her insurance company paid me $2500.


35
Never in a million years would I call around to find out when the auctions are. 

Check your state laws regarding how they must provide notice of auction.  In my state, they are required to put two notices in the local paper.  In my area, the papers put these notices online.  I spend five minutes a day checking these online notices.

36
New to Storage Auctions? / Re: Taxes - To pay or not to pay!?
« on: February 27, 2011, 04:25:00 PM »
Your form of business doesn't affect whether you pay sales tax.  However, it may have ramifications as far as income tax goes.  To avoid sales tax, you need to register with your state and show a reseller certificate at the time of purchase.  You won't pay tax on the purchase, but you will still collect sales tax when you sell, and pay it to your state.

(Local laws apply.)

37
What's it Worth?? / Re: Here is a good one for yall!!!
« on: February 25, 2011, 08:58:10 AM »
Does it have any markings on the back?
Can we see a pic of the inside?

38
The other weekend my wife and I were back in my home town visiting my folks and my sister asked me if my wife and I had any pics from **** we've got from unit.  She's curious because of the shows and we were going through the pics and came across a pearl bracelet that was missing a clasp.  My sister freaked, "You found a Mikimoto in a storage unit?"  My wife and I looked at each other confused, like, "you didn't tell me we had that?"  We had completely forgotten we still had it!  It still had the original case and authorization papers too. 
That's a great score.  Get a jeweler to fix teh clasp and $$$.

39
What's it Worth?? / Re: 1921-1923 Buescher Saxophone
« on: February 22, 2011, 10:44:37 AM »
You also might check the local antique stores.  One might buy it or consign it to sell as a decorator piece.

40
General Storage Auction Talk / Re: Question about a check
« on: February 22, 2011, 08:15:58 AM »
I believe that cashing that check would be technically legal.  I can't imagine a scenario in which I would do it, however.

41
The Treasure Chest / Re: Latest Cool Stuff I've Found in Units!
« on: February 18, 2011, 02:10:21 PM »
I joked about this earlier but have you heard about this 1099 deal. If you spend $600 or more at any supplier you have to send them a 1099. Its part of the health care law. Has anybody looked into this?
That addition to the healthcare law was poorly thought through and everyone involved realises it.  Heck, the way it is written, we'd have to send 1099s to the local gas station and pizza place.  Luckily, I don't think that it will ever come to that since the referrenced changes don't go into effect until 12/31/2011 and Congress is already working on removing the requirement.

42
Stories about Storage Auctions / Re: Getting closer to a gun
« on: February 18, 2011, 01:50:10 PM »
There is no law against selling such a magazine in Tennessee.  Further, the federal ban against selling large-capacity magazines expired in 2004.  Even when the ban was in effect, however, magazines made prior to the ban going into effect in 1994 could still be sold.  I ran afoul of ebay's policy forbidding sale of any magazines, but my selling it was completely legal.

I'm pretty sure that the sale of large-capacity magazines is only illegal in half a dozen states; California, Hawaii (handgun only), Maryland, Massachusetts, New Jersey, and New York.

43
Reality Shows about Storage Auctions / Re: Auction Hunters is FAKE!!!
« on: February 18, 2011, 12:09:28 PM »
The show is based in Southern California.  Given that you can't swing a snake around in SoCal without hitting an actor, I have no problem believing that these guys can be both actors and storage unit buyers.

From Ton's bio: 

An accomplished animal handler and wrangler, Jones supplements auction hunting with his Reptile Rescue and Wildlife Services business that manages bobcats, mountain lions and venomous snakes.

From Allen's bio:

Throughout his television career, Haff maintained his resale business and eventually left hosting to focus on Angel City Estate Sales in 2006. In 2008 Haff started Hollywood & Vintage, a high volume liquidation company specializing in movie memorabilia and vintage collectibles that he operates from his office & warehouse in Los Angeles.

Do I believe that the show is produced to make it appear that these two guys are storage auction savants or that making a killing in the biz is easy?  Yes.

Do I believe that the show is completely faked and these guys are not actually storage unit buyers?  No.

44
I'm glad that this isn't a legal requirement in Tennessee.  I don't mind returning presonal documents, but I don't want to be legally responsible to do so.

45
Dave's a jerk.  I'm somewhat surprised that he doesn't spend all his profits repainting his keyed car and replacing sliced tires caused by his behavior.

Jarrod bids with pure emotion.  It's like it is more important to him that he wins a locker than whether he will make a profit from the purchase.  That drives me crazy.

I want Darryl to be my fave, but he's a bit too much of a gambler.  I also can't quite get over him giving that locker to Dave simply because he didn't feel like cleaning it out.  It was a boneheaded mistake that cost him like $400 and gave Dave a big profit.

That leaves Barry.  He's a noob making noob mistakes and he does some silly things.

Can I vote for the auctioneer? (Although he needs to get a grip on the situation at times.)

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