Auction Scene #2...February, 2013

Time just keeps zooming by and here we are in February, 2013.

It's a Friday and hopefully this will lead some of you to storage auctions around the country. Let us know what auctions were like on this first day of Feb.

February started out with a bust.  Was feeling the itch to dig through some crap, so I went to a facility in a small town about 20 minutes away from my house hoping to pick up at least one of the eleven lockers being sold.  It was a Saturday auction.......so I should have known.......

There were over 100 people and the units were garbage.  First two lockers were inside units, upstairs.  They got to shuffle over 100 people upstairs through this little narrow stairway, and it was wall to wall people once we got up there.  One locker had two bald tires and a come along and and couple boxes on the floor.  That was all.  Second locker did have a Duncan Phyfe drop leaf table (although prices have dropped considerably on those compared to what they used to be) and a few chairs and some boxes and old tv's.  Tire locker sold for $130....still don't know why.....and the Duncan Phyfe locker sold for $425.  Okay, so now we know how this day is gonna go! 

So, we get back downstairs and outside, and they open the door on another locker.  Two dresser right up front, both missing a drawer.  Particle board entertainment center and just crappy looking stuff.....over $400 again......great.

More lockers, more junk.  A dollar locker actually sold for.....$75!  Even one of the "new regulars" noted that the prices at this little turd facility were higher than the normally overpriced Public Storage run!

Anyway, down to two lockers and one of the regulars wanted to show me his Isuzu box truck he picked up, so we headed out to the parking lot and I checked that out....little 16' npr with lift gate and a roll up side door.....nice little rig if you are into moving other peoples garbage out of storage lockers!  I looked at his truck and then jumped in my rig and got the hell out of Dodge before the rest of the crowd flocked out.

Don't know if this was just messed up because it was Saturday, or if New York and tax season has rekindled interest in what (USED) to be a fairly lucrative business.  I have another auction Tuesday and then a bunch of them for the following week.  Guess I'll have an answer soon..........

 I avoid Saturday auctions.  To many people have free time.
And why would a facility do a Saturday auction? Knowing they wll get a huge crowd?
To get the newbies because he lookers are junk?  Or drive up prices? 
Bet it was heavily advertised too........

I like the Monday morning at 7am and not advertised.

Had not been to an auction in a month or so but decided to go to a four location run.

First location had four lockers mostly junk prices went from $17.50 (old tv and beer caps) to $155 (box spring, pocket book and boxes). I didnt bet over $45 on any locker.

2nd location has 14 units and one consigned unit. Prices went from $1 (foot rest and lamp shade) to $425 (home gym and bed set), the consigned unit was a hair salon that closed down unit went for $775 which is the highest unit prices i've seen on over a year around here. Funny thing is they said the unit owner has three more boxes of items she would sell to winning bidder for an additional price. I was afraid that it would be something really needed to sell the items and it would cost to much so i didnt bid. I did bid on two units a 5x9 with boxes, dvd player and a rocking chair and some bags went up to $75 and quit ending up selling for $120 and a 5X18 packed full of old tv's, bar stools and a leather coach with some boxes ending up going to $200 and quit went for $270

3rd location has seven unit and two cars, units went from $21 (old coach and beat up stove) tp $525 (butcher tables and chainsaw). Cars went for $275 (69 camaro) and $240 (99 ford explorer i think). I bidded on the Camaro but it was basically scrap and two units that went a little two high because on playstation box.

4th location gave away a free washer and dryer to the first to sign up and I was the second  which is the firstr time i have ever seen that happen. They only had one unit and i got it for $350 basically some suitcases, pocket books, lamps and other flea market stuff. Got it for a jewerly box which broke me even after i found a little bit of 14k gold and found a a/c unit in the back of locker so should make a good profit. This tentant had over 400 books inside of the unit and around 300 were books on divorce and child custody other were get rich quick and church books.

Two more auctions this week, maybe i'll find something since prices are starting to come down.

Had not been to an auction in a month or so but decided to go to a four location run.

First location had four lockers mostly junk prices went from $17.50 (old tv and beer caps) to $155 (box spring, pocket book and boxes). I didnt bet over $45 on any locker.

2nd location has 14 units and one consigned unit. Prices went from $1 (foot rest and lamp shade) to $425 (home gym and bed set), the consigned unit was a hair salon that closed down unit went for $775 which is the highest unit prices i've seen on over a year around here. Funny thing is they said the unit owner has three more boxes of items she would sell to winning bidder for an additional price. I was afraid that it would be something really needed to sell the items and it would cost to much so i didnt bid. I did bid on two units a 5x9 with boxes, dvd player and a rocking chair and some bags went up to $75 and quit ending up selling for $120 and a 5X18 packed full of old tv's, bar stools and a leather coach with some boxes ending up going to $200 and quit went for $270

3rd location has seven unit and two cars, units went from $21 (old coach and beat up stove) tp $525 (butcher tables and chainsaw). Cars went for $275 (69 camaro) and $240 (99 ford explorer i think). I bidded on the Camaro but it was basically scrap and two units that went a little two high because on playstation box.

4th location gave away a free washer and dryer to the first to sign up and I was the second  which is the firstr time i have ever seen that happen. They only had one unit and i got it for $350 basically some suitcases, pocket books, lamps and other flea market stuff. Got it for a jewerly box which broke me even after i found a little bit of 14k gold and found a a/c unit in the back of locker so should make a good profit. This tentant had over 400 books inside of the unit and around 300 were books on divorce and child custody other were get rich quick and church books.

Two more auctions this week, maybe i'll find something since prices are starting to come down.

I dunno bout that, we haven't seen the Tax Money Hundredaires  hit the auction scene this Spring yet!

This year is not looking good so far!  Went to another small single facility auction today.  Between 75 and 100 people for only four lockers.  Three of the lockers I don't know why they didn't just shove them in a dumpster and save the hassle.  Other one was a 10 x 15 with lot's of low quality looking stuff and an old looking refrigerator in the back corner.  Particle board single bed frame, mattresses, etc.  There was nothing of any real value showing and it was all thrown in there, not in any order or stacked nice.  Two ladies I had never seen before were the "winners" on that one for the low, can't lose price of only $425! 

So far, the quality of lockers I have seen this year are garbage.  Prices are cheap, but so what?  Most of the lockers I've seen this year would accrue more in dump fees than profit!  And yeah, that's before the droves of gamblers even get back their refunds......I think we're in for a bumpy ride!

Between 75 and 100 people for only four lockers. 

Everybody must be looking for a way to supplement their unemployment checks with a cash income.

Auction today advertised 5 units. Really glad I have gotten into the habit of calling the day before because they all paid up.
Tomorrows auction advertises 2 facilities. Auction one had 5 units. When I called this afternoon all had paid. Auction two had 13 units. There are 11 available so I guess I am heading out for that one in the morning. I did get a tip from the manager a couple weeks ago (they do electronic recycle and I took in a few things) that these are some of the best units she has seen in 5 years.
Not sure why I am even considering going as I am still reeling from the 5 units I bought at the first of January. I have sold quite a lot of it but there are still boxes I haven't even unpacked into the store yet. I haven't been to an auction since so I guess I just need to get out and see what is going on and see if this manager is right.

Went to a silent bid auction yesterday.  Ended up being nine lockers and about 30 people.   Prices were actually pretty decent, with the most expensive one going for $450.00.......and a couple going for a dollar each. 

The problem was the quality........these were some crappy looking lockers!  I didn't get any, but one I did bid on but was about $30 short on turned out to be pretty exciting.  Once the lady that won it and her dad started digging through it, it had three pipe bombs, an illegal home made silencer, and some other bomb making materials.  The cops have all that stuff in their possession now and are looking for the original owner of the locker.

Let that be a lesson......if you are going to store illegal stuff in your locker, either pay your bill or don't rent in your name!  LOL.

Well, like The Teacher above I have been finding the quality of the lockers to be bad for the most part.

I went to a sale on Feb 13, 2012 that USED TO BE a silent bid, but now is handled by one of the major auctioneers.

There were 21 units (Yea!) but the bulk of them were below average in quality. The average ones sold for OK prices, if OK is $150 for a 5x5 with 10 items inside.  One good sized one went for $500....that was ONE of the first 10 lkrs.

The last locker was the best..a 10 x 15 that I would have been happy to pay $500 to $600 for. Good quality furniture but no smalls to flesh it out. Sold for $1,300.

So, I am staying on the "picking" trail for the most part....one item at a time, hopefully at a good profit ratio, not as much total income, but more free time to enjoy life somewhere besides the dump !

About 2 weeks or so ago I went to an auction and one of my long-time "cronies" bought a 1990 Ford E250 van for $600.

I thought the price was OK and so did he. The auctioneer stated twice that they had the keys for it, though they didn't open it up.  It was finished inside with a couch and so forth (mini-camper) and looking in the back windows we could see totes about 3 feet high and four feet from the rear doors to the back of the camper couch.

*****

The required 10 days went by (DMV law) and he went back to pick it up. NO KEYS !

He obviously threw a fit (I know I would) and the manager did call the auctioneer. "Sorry, it's a done deal".

My auction friend (on the phone to the auctioneer) explained he never would have bid as high as he did if the auctioneer had not said they had the keys. Getting a locksmith out and making a key is a $150 to $200 job around here.

The auctioneer wouldn't yield at which point the buyer said "next time just tell me there's gold bars in the back and I'll bid even more."

Personally, I can't blame the guy. When an auctioneer comes right out and tells you "We have the keys" and then they don't, that's just plain fraud in my book; I'm glad I didn't buy it....I don't know what I would have done differently. They have 4 locations within 60 miles and often have good lockers, so it would be shooting yourself in the foot to just not go there anymore, but you can bet the auctioneer will be getting a lot of questions and sour looks from the regulars.

Went to an auction today with 5 lockers and 30 plus in the crowd. The usual 6 to 10 regular buyers were there which typically means there will be no bargains as several bid beyond the lkr's worth.

First 3 lkrs were pure trash. Remarkably they only sold for $5 each, not the usual $40 or so they have been going for.

Fourth locker any of us there (or here) would have been proud to own !  We entered a hallway and the line bent to the right in an "L" shape. While I was still at the short side of the "L" we heard the auctioneer saying "I've got 1,000. Anyone want to go $1,100."

This was while we hadn't even seen it yet, but he quickly came to where we were and said he wasn't going to sell it until we had seen it.

Finally got around to it and it was a 10 x10 showing a lot of good stuff. There was a 3 level Craftsman rollaway (brand new looking), half a dozen white styrofoam boxes (collectibles of some kind but with Made in China labels on the side), a white framed plastic set of drawers (the translucent kind) showing airplane model boxes inside....looked like they were genuine and never opened.  Anyway you get the idea...it was a beauty, the kind many of us dream about.

I would have taken a chance on it at even $800, but as we finally filed past, the bidding resumed and it went to $1,400 and sold at that.

******

This went to a regular of about two years and one who has a rep for overpaying. The rest of the regulars and I chimed in with "You've got more guts than me!, "I hope you get your money back", etc.  As we went on to the next lkr the consensus was he had overpaid by half. We'll see. This fellow has a store which he started in Nov, 2012 and we are all looking at the six-month and 1-year mark to see how it goes. He's only open 3 days a week.

This is also the fellow who on a pretty regular basis tells me he is breaking even or "I just broke even on that locker I bought 3 months ago."  Not my idea of a good business model, but he seems happy.

******
Fourth locker started out slow; a 10 x 15 with not much showing at all. No body wanted it in the $25 range, but it finally got going with one of the regulars taking the newbie up to $200 and getting out while the getting was good. Welcome to the biz newbie !

Fifth locker was OK looking and the regulars always confer on what we think they will go for. Pretty much agreed on $400 and that's right at what it went for to a regular of about 5 years. Not for me. Another successful day of not overbidding, but boy I would have loved the $1400 lkr...for $600 to $800. 

Just got off the phone talking to a friend who gave up going to the auctions a full two years ago due to prices, etc.

He told me the following story. He wouldn't tell me who told him, but he said it was a trusted person, and I trust my friend, so here goes.

*****

The un-identified story teller said that he had been at an auction where a buyer (someone he knows) got a decent locker at a decent price (don't think that price was revealed to me) but that he (the un-identified story teller) was shown pictures of the inside of a piano bench that he had seen shortly after the time the locker was sold to HIS friend.
He had seen the bench in the locker when the lkr was sold.

The pictures revealed silver dollars and silver certificates IN QUANTITY.  The lkr buyer sold them in bulk to a person who deals with such things and he got $17,000 for it all.

Where are we when those things show up?  Not there, that's for sure...and you can bet that the original story teller is crying the blues a bit for not bidding on the locker himself, but it's always easier after the fact to say that !

Glad someone hit a jackpot !

My auction friend (on the phone to the auctioneer) explained he never would have bid as high as he did if the auctioneer had not said they had the keys. Getting a locksmith out and making a key is a $150 to $200 job around here.

That's what small claims court and a witness are for.

Here are a couple of pics from the auction I talked about in reply #11 above.

I mistakenly had the camera in video mode so these aren't that great but will give you some idea about two of the poor lockers.



The pic above was the first $5 lkr.



The pic above went for $200 after none of us wanted it at $25. This was a newbie lesson lkr.

The $1400 lkr pics were bad...but I'll see if I can salvage something and if so, will post it here.