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.

Messages - Cobia

Pages: 1 2 [3] 4 5 ... 76
General Storage Auction Talk / Re: my first loss
« on: December 20, 2014, 11:28:56 AM »
im re-reading this tread and I have to say, Im surprised that so many people would have kept going regardless........why?

is it because theres no choice (you have to put food on the table) and you only get a locker or two

is it because the majority of your locker finds are tainted by roaches or rats so no choice

is it because, just don't care?

im really curious. I have to be honest. the thought of selling any of this stuff was in my head for all of 60 seconds only


1. Because where I live if a unit comes up that looks like it will produce $4,000 then it will take  $2,500 to win it. Can't give up on a unit just because it's not "prestine".

2. Even the best units where I live will have some roaches and mice sign. Just part of the mix.

3. There will be many items in the unit that a few roach footprints won't hurt or will be wrapped and stuffed away where the roaches and mice did not get too.

As much as the storage facilities are going through units nowadays and picking out the best inventory (Don't lie, we KNOW most of you or your employees are doing it!) Why don't the facilities just go in and pre-sort or remove the personals prior to auction. Like I said, we all know the ole' "We haven't been in the unit." or "we don't know what's in there." is a load of BS at 90% of the storage facilities anyway!

New to Storage Auctions? / Re: Good Part Time Income??
« on: December 03, 2014, 06:50:47 PM »
Good part-time income? Yes, if you work hard & learn the tricks of the trade.

Good full-time income? Not so fast Charlie Brow! Much more difficult to create "good" full-time income doing storage auctions compared to part-time income.

Just one factor to consider... You buy a buster unit, lets say a unit full of nicely packed boxes for $750 and the boxes are empty or full of dollar store crap, it's easier to swallow when you have another source of income. You do that as a full timer and it can set you back in a hurry!

General Storage Auction Talk / Re: Storage Auction Myths
« on: December 03, 2014, 06:13:05 PM »
Storage units are lost by people who can't pay their bills...

Many folks just walk away from the units, even though the default will show up on their credit report.

Run newbies up.

Flirt with storage facility employees and auctioneers (when applicable)  :93:

Don't stand in front of the door the entire time without moving.

Don't ask other bidders to borrow money.

Don't ask where other auctions are that day or week.

Don't ask to borrow a flashlight or lock, unless you are good friends.

NEVER tell about ALL the best things you have gotten out of units! Maybe throw them a crumb once in a while.

Many feel an unspoken rule should be each regular should only win one room until all the other regulars have won one, but I don't see why they should expect that. When 2 or 3 good rooms come up back to back at the beginning of the day you can bet your sweet a$$ i'm going to bid to win them all even if I took the first one!

What should be an unspoken rule of etiquette that many newbies & part-timers break; asking regulars how they run their business and make money!  :-[  Yeah, let me tell you all my trade secrets so when those rooms that only go for $50-$250 because they look like nothing special or losers and you see me bidding you jump in and run them up cause now you know what I see and how I can sell it and for what kind of price I can get!  :96:

There should be a hidden linebacker at every auction and as soon as some newbie asks "So how do you..." BAM! CRUSHING BLINDSIDE TACKLE!!  :57:

The Treasure Chest / Re: Designer clothing, shoes and handbags
« on: October 06, 2014, 06:13:06 PM »
I've found my share of the mid-level high end stuff; Coach, Gucci, Prada, Hermes, Ferregamo, etc. Nothing sold for more then $500. Haven't found the upper crust high-end stuff yet; purple label Ralph Lauren, Louis Vuitton luggage, etc.

I would research the patents and see if merchantable products were ever made and if they were successful. They might be worth something to collectors if so.

Constantly researching to find the fair market value of the used goods we find and where to market those goods to get the best return.

What makes what we do more challenging is not having the same new product line to sell over and over again. One of the most disappointing aspects of our business is when we find highly profitable and quick selling goods out of one particular storage unit, but find it might be 6 months, or 2 years, or never when we come across those goods again.

I think that just about sums it up. But I should have been more clear when I asked the question. Do you think people stereotype us as a whole? Do you think some people think of us as vultures or riffraff because we dig through other people's stuff?

For a couple of years there during the height of the TV shows, guys and gals like us were pretty cool and borderline local celebrities. Now it seems the opinion of what we do is drifting back towards "bottom feeders, vultures, dirtbags, etc.".  :clap:

One day we were all standing around between doors going up at an auction and this guy pulled up in a Bentley. He opened the door about two doors down from the one that was getting ready to be auctioned. He went inside the unit, we heard a engine start, and he pulls out in a Ferrari. He pulls the Ferrari to the side of the building, jumps in the Bentley, pulls it into the unit, gets out closes the door, nods to the crowd and back in the Ferrari and out the gate!

It took everyone about ten minutes to pick their jaws off the ground including the auctioneer! To top it off, this facility was in a BAAADDDD part of town! I think they refer to it as "The Hood".  :67:

What's even more ironic is every unit at that facility up for auction that day (and typically ever since) was pure garbage!  :'(

I've done that 3 times so far. In all cases I would not even have been bidding on the units had I been paying attention and realized the tenant was there bidding on their own unit. I sold them all back on the spot for basically what the winning bid was and maybe round it up to the next hundred dollar increment so I made a few bucks. I know a lot of guys who say they won't sell it back unless they double their money. It does amaze me though that they didn't have an extra $100 to win the auction but can find another $150-$200 within the hour to buy it back.

Stories about Storage Auctions / Re: Units going cheap!
« on: September 01, 2014, 08:36:12 AM »
Nice margin.

I think as more people start to "forget" about the TV shows then we will see better rooms become available again. The shows really taught people yes, your stuff will get sold! I think it changed the storage habits of many, and people don't leave valuables in rooms like they use to.

Joking around and talking shop with the other bidders.  :72:

Spending the day looking at empty lockers or lockers full of junk!

Actually it is still running about 2 times as high as before the TV shows but yeah, certainly not running 20 times as high when interest was at it's peak. With out a doubt the "gold rush" is over! We still get a trickling of new faces that come and go each month but I can't think of one person who has showed up over the last 6 months who has stuck it out and is competitive with buying units.

The shows have certainly changed the industry for ever (at least in my area). Pre-TV shows, the majority of the buyers were kinda of the "salt of the earth" characters, living under the radar, making a meager or sometimes good living. Now there are basically three types.

The Professional re-sellers/store owners who have developed a profitable business model during the highly competitive and expensive years (2011-2013).
The Retirees who are just trying to make a little side money.
The Gamblers, those who have plenty of money to live on from other businesses or who knows where, and are just doing the storage auctions for fun and really don't care about making a "profit".

Pages: 1 2 [3] 4 5 ... 76