Storage Auctions

Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Topics - TreasureHawk

Pages: [1]
General Storage Auction Talk / The WOW Factor
« on: March 18, 2011, 09:53:19 PM »
Well.... today, I had the privilege of moving the 2 units I bought stuffed full of office furniture that I bought Wednesday and boy did I sucker a buddy of mine into a doosy of a work day.

It turned out that both of these lockers were stuffed so full, we had to make 2 trips to both lockers and this was with a 17 foot box truck

I still have yet to inventory and photo all the items as just the move took about 7 hours...but on the rough side I have:

17 HON 6 ft Shelving units
12 HON Filing Cabinets of various sizes (all large)
9 Executive 6 ft Desks
4 solid wood shelving units
2 nice professional chairs 
2 great lamps (office / commercial)
1 full 3 panel cubical with corner desk (Kimbal Brand)
1 8 ft tall server tower with electrical outlets   
1 specialty blueprint/plan filing cabinet
1 8 ft tall commercial ficus tree (silk)
and a bunch more stuff

Not bad for my first buy at $460 total?

I think if I price it to move fast....$1,200 to $1,500 is a reasonable expectation...and that would be at fire sale prices

Now the selling fun begins!! ;D



I just returned from an 8 hour marathon auction tour of 6 facilities and saw a total of 31 units auctioned off today.  Of the 31, maybe 5 were pretty nice but I can tell you, even with my limited experience, basically every one sold for WAY more than it should have. I saw many piles of pure junk go for 300 or more and the nice units were all around 1400 to $1500 and up....there might have been some potential in a few of the nicer ones I guess, if I am fair

The last stop of the day was a newer facility all indoor and it had a whopping 12 units on the block....the crowd was a record for this auctioneer...and they stopped counting at 100, pets, was a total circus and a total sweatbox as well....haha .....I think there was about 130  to 140 people there and the bidding was furious....

There were so many cars there, they filled the entire lot, all of the grounds around the building and both sides of the street leading out from the facility all the way into a much so that the sheriff was called during the auction by homeowners and was issuing parking tickets to many cars causing a big stir...

Obviously, I need to find a less popular and less advertised route as you will almost always overpay in this situation... and even with a nice wad of cash in my pocket, I sat tight as I am sure I can find better deals...or wait till the summer heat drives many of these people away!

I took some photos of the crowd but they simple do not do it justice..haha the ole iPhone cam is so limited
Honestly, this was ONLY a part of the crowd and a small part of the cars and trucks that were there that you see here!

I am new to this biz and to the forum and I am glad I have found it!

I have been in the closeout and liquidation business for a long time and have done a good bit of due diligence on the storage locker buying game and I do think based on all the complaining I hear at auctions and read here about the popularity of Storage Wars and Auction Hunters the game has become significantly more difficult if only because there appear to be many more buyers who are not knowledgeable enough or do not have the discipline to keep emotion out of the equation and stop overbidding and overpaying for lockers.

I realize that many in the big crowds are just tire kickers and will never buy as they simply do not have the resources to pay for, transport and store all the goods ...let alone the network of buyers necessary to move and flip the goods quickly and profitably.  The amount of work, labor and time to win at this game is huge as well and many do not want to dig through dirty things in a hot sweaty environment and make trips to the dump.

I believe that in addition to profiling the demographic areas of the facilities, one must be able to size up competition at the auctions as well as be able to profile the contents of a locker and bid based strictly on business and profit and not emotion.

To me the proper tools and resources of the trade are key to ones success. I understand that not all have the cash or resources to start big but I think long term if you want to succeed, you need a good bit of coin to invest, a truck for moving goods, somewhere to store and sort the goods, labor to assist you in doing this and most importantly, a network of buyers to move your finds to quickly and profitably.

As many have said before, you are simply not going to win on every you need to be able to stay in the game long enough for the law of averages to work in your favor....and be a very smart and prudent buyer and seller..  I can't help but think that auctions early in the AM or on rainy days or very late in the day after a long scheduled day would have a better chance of dwindling competition and therefore pricing in the right range for profit opportunities.

These are just my initial thoughts and observations and anyone here can feel free to add to them or contact me to collaborate and brainstorm because if we move into this segment of the will be balls deep from the get go.


Pages: [1]