Auction Scene #1...January, 2012

I think from now on I'm going to make a glorious effort to stay away from any auctions listed on auctionzip.

I think from now on I'm going to make a glorious effort to stay away from any auctions listed on auctionzip.

Yea auctionzip is a crowd enducer, we had one on the last day of December that was listed on auctionzip, 15 lockers, 120+ people. I left after the first 5 lockers, which took about 2 hours.  We were lined up like herds of cattle. Moooooooooooooooo

We were lined up like herds of cattle. Moooooooooooooooo

I KNOW! People weren't MOVING. They were also just bunching themselves in an immovable massive crowd right in front of the bin. The auctioneer didn't seem to care and she just started the bidding when less than half the people had SEEN the damn thing. I am NEVER going back there. Horrible first experience  . I found four more auctions (shorter drive away even) but they're not until the 20th-27th so I'm just gonna go picking at yard sales until then...

I think from now on I'm going to make a glorious effort to stay away from any auctions listed on auctionzip.

Don't use it much. I find other auctions on it.
We have one that advertises on Craigslist. A lot of people. Not as many as you had though.

The one we had yesterday we were Mooooooooooooing all were inside and the place looked like an old meat locker. LOL The crowed moved pretty well silent bidding.

Good luck on the yard sale picking.

I've lost my tail at a silent auction and done very well at one.  It's a toss up.  I much prefer called auctions.  The X money vs bid thing is one reason why I hate silent auctions.  If I win more then 2-3 with most of my bids I got to get more cash.  With silent auctions here however, they give you time to do that.  My 3 caravan saturday auction is moving to called from silent.  I suspect they are doing that since the crowds have gotten larger each month and they want to drive the bids up.

Shmoopy - those units went higher then what I would pay that is for sure.  However, of late those are about normal.  You currently have more newbies with money then sense.  Next month or even next auction they will be gone and a new crop will come in.

Found an auction for Monday at 1pm.  Not sure if will try and make it or not.  All depends on work that day.  Already taken off for the 12th so will hit my 7 facility caravan.

I think I jinxed today at the flea by writing about wind/rain in another thread recently.

Today it was only 40 at 5:30 a.m. on the way to the flea market and I hadn't really looked at the forecast. If I had I would have seen that WIND was a possibiltiy.

It hit about 11 a.m. with just some steady 3 to 5 mph, but big gusts came about every 20 minutes (felt like 25 mph or so) and wreaked HAVOC.  After the 3rd gust I just stopped picking stuff up and put it in my van.  Winds stayed steady after that right up until 1:30 when I left.

During the big gusts the neighbor across the way had one of his two canopies fly up about 4 feet. It was linked to the other one, otherwise it just would have gone flying away. He had 3 people working with him under the two canopies and they got it under control, but couldn't collapse them fast enough. Glad I don't put one up except for summer sun or rain possibilities.

Wore me out just fighting mother nature !  (but a good day money-wise none-the-less).

Shmoopy - those units went higher then what I would pay that is for sure.  However, of late those are about normal.  You currently have more newbies with money then sense.  Next month or even next auction they will be gone and a new crop will come in.

Found an auction for Monday at 1pm.  Not sure if will try and make it or not.  All depends on work that day.  Already taken off for the 12th so will hit my 7 facility caravan.

ugh. I was hoping to use my first few units to supplement my learning of prices. I guess I just have to keep going to yard sales and doing research while hoping for a nice payday...

Also I am super jealous of your caravan. I've called all 20 or 30 storage places within a 20 minute drive and I only have 4 auctions for the rest of the month. None of them are listed on auctionzip, though... hopefully a good sign.

I think I jinxed today at the flea by writing about wind/rain in another thread recently.

Us too.  Were fogged in until about 11:00 Thick as soup.

Don went to a 'new' auction today.  It was from moving and 'storage' facility and we really didn't know what to expect.  Turns out that many of the units are items that the people who hired the movers didn't want.  All junk.  Only two regulars, Don and another couple.

Well we know not to waste our time with that one again.

Tomorrow I hope he lands a unit, if not.....Tues, Weds, Thurs are all lookin' good!

edit to amend~there were about 60+ people, with only a couple 'regulars'.

Don't know the moving & storage type places.  Don't put them high on the list but you can find good stuff there sometimes.  We have a few ritzy type neighborhoods in the area.  I always try and watch for moving truck / companies that they use.  Their discards can sometimes be high-end furniture for the low and mid class people in the area.

Shmoopy - many months the 7 facility caravan is more driving then worth.  With only 1 or 2 units at each location.  The very last facility on the caravan is one that only 30% of the time has anything up for sale.  But it's also in a upper class area so the units are normally higher end stuff also.

Don went to a 'new' auction today.  It was from moving and 'storage' facility and we really didn't know what to expect.  Turns out that many of the units are items that the people who hired the movers didn't want.  All junk.  Only two regulars, Don and another couple.

Well we know not to waste our time with that one again.

Tomorrow I hope he lands a unit, if not.....Tues, Weds, Thurs are all lookin' good!

edit to amend~there were about 60+ people, with only a couple 'regulars'.

The last moving and storage facility I went to had some better stuff in them and would go back in a heartbeat. It was people who hired movers and put their stuff storage.  I like these better as this is stuffed that is stored long team and left alone.  Unlike storage lockers where the owner can be there 3 times a week if they like butting stuff in taking stuff out.

First auction of 2012: two units up for bid.

Unit #1 5 x 10 1/4 full: major pieces showing, table saw broken base didn't see legs, beat up 6' fiberglass ladder, Shakespeare rod & reel, some clothes, some boxes (vhs tapes showing) old wall hangings, other little nickity-nacks.
slightly used table saw at pawn shop = $30
new 6' fiberglass ladder = $40
new Shakespeare rod & reel combo = $30
grand total to purchase these items new or slightly used = $100. Winning bid = $175.00

Unit #2 10 x 15 1/4 full: major pieces showing, Frigidaire refrigerator, unknown stove (older model) acoustic guitar (could not see make), glass commercial style table, old nasty mattresses and boxsprings, old bed frame, old crib, nike bag, box of cheap books, box of VHS tapes, some toys.
This one had potential.
new frigidaire refrigerator = $300 resell if working $150
used stove (if working) = $50-$75
acoustic guitar (depending on brand) = $25 - $250
glass table = $50 - $100
bed frames, crib = $25

Potential return $125 (all goes wrong with appliances)  - $600 (all goes right with appliances) plus all the odds & ends. Winning bid = $290.00
Too much overhead this month for me to take a chance on this one.

Ok - I'm starting to get a little frustrated and worried here.  First U-haul cancels the auction on the 3rd.  Now my auction for today at 1 has been canceled and rescheduled for Friday.  It may get canceled Friday.  What gives -- next my caravan thursday is going to cancel.

Cobia - not great prices there but least not $300+ units for the same trash as earlier reports.  I wouldn't of gotten unit #2.  Would of bowed out at $175 - $200 since have yet to get a working fridge.

I went to the first local auction of the year yesterday. A hand full of people I saw at the first auction a month ago. There were two units being auctioned. After doing some research I found some possible information. One locker belonged to a 70 year old gentleman, who had been arrested recently on DUI charges, and the second belonged to an 82 year old woman in a retirement village. It’s a bit easier in a smaller than 200,000 population area to find info on people with rare last names. I find the research helps a little bit, or would seem to.

There were about 15 people present. Five I would say were bidders and the rest were more interested in looking. The first locker belonged to the 70 year old man. In it was a stuffed toy horse, a broken table, a recliner and a couch, older washer and dryer and some wine bottles. These lockers were not completely closed off from the elements/weather. There were some leaves and lots of dirt. The furniture and stuffed toy were water stained, and the washer and dryer looked old and as if they had seen better days. The bidding went to $115.00.

The next locker was very dirty and things had been thrown in, some clothes were not in bags or boxes just thrown in. There were some bags of trash (really trash, open food cans and news papers wadded up and such in them) and lots of old cassette tapes, ironing board thrown on top, mattress with box springs that had lots of water stains, a old lamp and some odd stuff. I was told later that it went for over $500.00.

I admit to being new to this, but not to auctions. I wonder if anyone bidding really saw the true value that was visible for the prices they bid. I hope they make some money and don’t just have to make dump runs. The apartment building where these storage units were located is one of the cheapest in town, so there’s another clue.  I am sure many of you that have been doing this for a long time could shed some light with a lot of wisdom. Here is my opinion. The first locker, get a clue, washer and dryer units in our area are on craigslist for $100-150 a pair.  The other unit was at least on the visible part a dump run. $500 is a lot for something that looks like it was packed with a front end loader.

Well there is another auction Friday with 15+ units at several nice locations, I’ll see what that’s like.

I admit to being new to this, but not to auctions. I wonder if anyone bidding really saw the true value that was visible for the prices they bid. I hope they make some money and don’t just have to make dump runs. The apartment building where these storage units were located is one of the cheapest in town, so there’s another clue.  I am sure many of you that have been doing this for a long time could shed some light with a lot of wisdom.

Although I have not done any exit polls or interviews of auction attendies, here is my novice opinion.

Fact #1. We all know the TV shows create the impression that finding really valuable items in a unit are somewhere between a 50/50 shot or 1/10. So the average newbie is under the impression if they buy between 2 to 10 units, 1 of them is going to have a major score in it.

Fact #2. The economy still sucks in this country, and many people are running out on their unemployment checks. They have to make money somehow.

With this information, I believe what we have is a case of "gold fever" among something like 70% of the new crowd, and "I gotta make money somehow!" with the other 30% of the new crowd, maybbe +/- 10% either way.

So what you get is a snowball effect and "cognitive dissonance" when the bidding starts. Everybody can SEE that the unit has about $50 worth of resell items and $30 worth of dump run fees, but too many people don't want to let a possible "jackpot" unit get away. "I'm not gonna let that POSSIBLE jackpot unit get away for $175, I'll bid $200. Someone else, I gotta get in this game and start making money, I'll bid $225. Someone else, I can't let that go for that little, I can risk $250!" Someone else, one of those "old timers" must see something valuable, I'm goin' $300! So it goes all through the crowd until it ends at $500.