This is a cut and paste from a response I gave in another forum, but I think it might deserve its own thread in case the new and old want to respond to this phenomenon.

C&P:

Newbies will be run up and that's a fact. Been going on for years, not just since the tv shows.
Logic is to have them spend their money, get a lesson in economics and move on. It's a business not a charity organization of like minded entrepreneurs.

Meanwhile, look at this side of bidding someone up. Sometimes the person trying to take the other person for a ride will get STUCK with the unit when the other bidder stops bidding. You have to know how to read people...know when to hold 'em and when to fold 'em.

I saw an experienced buyer do this just the other day. He winked at me when he bid $400 for a locker that I would have paid $200 for. His face quickly changed when the other guy stopped and my friend got his $400 lkr. I offered him $200 for it but he decided to tough it out. I have seen people cut their losses though and this is yet another way of making money.

By the way, experienced bidders will do this to other experienced bidders. Some bidders are hogs who want to get every locker; if this is the case some of the other old timers will make them pay for the privelege. Once again, it's a business not a tea party.

We've all read multiple posts about these two shows and their affect on our business, but here's a topic to post anything ELSE you think about those shows (OK, you can vent on the affect too !).

To start it off, here's what I know about their future.
Auction Hunters started with 8 episodes and has signed for 20 more with no date on the new season starting.
Storage Wars still running (as of Jan, 2011) new episodes, so they may have started with a traditional 13 epidodes and already running on another 13 new ones or so.

One possible topic here is your feelings on which show is more "real" (if that's possible).

And for the producers, how about a match between the two shows main characters...the two guys take on the four guys !

I've seen several examples of this, and generally these are good lockers. They cared enough to keep paying and paying, but finally circumstances just overcame them.

I tracked a locker for two years once. This guy's locker came up every 3 months and he paid it off everytime for 2 years. Needless to say I was interested. He had spent something like $10,000 on this locker and its companion across the hall. He had the 2 lockers a total of 5 years I think it was (defaulting in the last 2).

Finally, he truly defaulted and I got the best of the two lockers. Two parts to the rest of the story.

Part 1:  I paid $700 and have so far sold $1700 out of the locker with maybe another $300 or so left.

Part 2:  The stuff was pretty ordinary with some exceptions (extra good) but no crap to take to the dump.
        

My question is why would this guy pay 10 grand for stuff he could have replaced for 2 or 3 grand. Doesn't make sense does it.

In 7 years I've gotten about that many safes and here are some clues about them according to my experience. Your finds may be different.

5 of the 7 were empty. The little (typewriter size) cases usually have some important papers in them, but are often empty. Sometimes anxious parents keep their sex toys in safes.

1 good safe (about 2' by 18" by 18" I had the bottom torched and then broke out the concrete lining to get inside.
This one had about $375 in jewelry and coins.

2nd good safe was smaller and had about $200 in jewelry and coins.

Note: both good safes were in the back of their lockers buried under other goods. Little safes up front are almost always empty.

 

Hey there....

Just found this site and thought I would drop in. I have been buying lockers for 7 years so I have some
under my belt...good and bad.

Have been reading here a bit before getting verified and seems like experiences are similar around the country.

One suggestion I have is that when posting in ANY of the forums that the poster somehow indicate what state at least they are in...maybe city too if not a concern for the poster for any reason.

Haven't checked yet, but my guess is a signature line is available here and that would be a good place to put
your locale...it would pop up in any post you did.

Anyway, happy bidding (and good luck with the lockers you get) !