Auction Scene #4...April, 2013

Went to one of three auctions today and skipping the first two didn't cost me anything...guys said they were bad.

Third place had 3, but it's a good area so worth going to.  Only about 20 people there...surprise ! Only problem was 8 of us were willing to pay $1000 for a good locker.

First one went for $800 to a regular.  Second one similar...to a regular.  Third one went to a newbie for $700. The contents on all three were (IMO) close to what the people paid for them, but there may have been surprises to make some profit on.

When the mortgage forclosures happened a couple of years ago I got one here for $875 but EVERYTHING showing was $ signs waiting to be cashed in. That locker had air-conditioning units (2) Iron fence sections (many) Outside lighting power distributors (all stainless steel), Rollaway tool box (with good tools), built-in appliances the property owner took out before the bank took over, etc, etc.  I think I cleared $2400 on that one.  Now it would have gone for $2400 to start !

Went to two auctions today with possibilities. There were four units with two owners owning two each of the units <makes sense to me>  Anyway, first went for 1500.00 and the next 700.00 for it's partner unit to the same regular. The other two went for cheap since it was broken down parted computers and electronics.  The next location had 5 units with a couple having good items. The good ones went for way too much 1k + etc. Over heard one person tell another regular that the Turkish guy that bought the high priced units was po'd because before they started posting their auction notices on the paid lists he got 5 units for 5.00 each before and that other times he would get them cheap with only maybe 5 or so people would even show up since it wasn't a known place. I was wondering why he had such a sour-puss and that explained it all.    "There's always tomorrow and tomorrow" as I keep saying for more auctions.

2 auctions today in Raleigh. Both properties had 2 units each. First auction had an entire office it seems. Lots of paperwork.. so much that the property manager said that we could use their dumpster to throw it out. Nobody bid. Next locker was a band space. 10x20 largely empty except for a couple of things left behind. I bought it for $50. Found 2 PA speakers, 2 guitar amp speakers, both pair in good shape. 3 space heaters, 1 AC unit, a ladder, and a bin full of band merch. I open the bin and sitting on top is a lock box. Pop the box open and I found $6 and $6ish in change. Also had a $20 money order with someone else's name on it. I'll make money but not a ton. Lots of stuff to throw out.

Next property had a $10 unit and I bought a unit for $70. Coffee table, 2 big ass speakers in cabinets, 2 decent lamps, an 800 watt car amp and a fishing pole is what was kept. I'm looking at a tiny profit, but a quick clean out. These may be the only 2 auctions this week. At least I got something new to put out this weekend...

Leota - how much did the computer parts / electronics go for?  I'm curious as I recycle that stuff for decent money.  Woudl love to find a unit like that.  I've only had 1 unit with lots of computer stuff and I only took it to $300.  Was a large unit with lots of computers, looked like a laptop, but 1000s of pirated CDs.  Had a DVD burner tower so he could burn 8 movies at a time.

Gratz Homegrown on your purchase.  IMO anytime I can get a small, decent unit for $50 it's worth the gamble.  As my past Saturday auction showed.

That $50 locker is more of a headache than it's worth. I bought 2 lockers after that and they're both cleaned out. This one still has rug on the walls, wood frame mounted to the corrugate walls.. A LOT of work for maybe a $100 profit..

Leota - how much did the computer parts / electronics go for?  I'm curious as I recycle that stuff for decent money.  Woudl love to find a unit like that.  I've only had 1 unit with lots of computer stuff and I only took it to $300.  Was a large unit with lots of computers, looked like a laptop, but 1000s of pirated CDs.  Had a DVD burner tower so he could burn 8 movies at a time.

The smallest 10x10 went for about 60.00 and I didn't stay around for the bigger 10x15? unit, but it was full with shelves.

Went to one of three auctions today and skipping the first two didn't cost me anything...guys said they were bad.

Third place had 3, but it's a good area so worth going to.  Only about 20 people there...surprise ! Only problem was 8 of us were willing to pay $1000 for a good locker.

First one went for $800 to a regular.  Second one similar...to a regular.  Third one went to a newbie for $700. The contents on all three were (IMO) close to what the people paid for them, but there may have been surprises to make some profit on.

When the mortgage forclosures happened a couple of years ago I got one here for $875 but EVERYTHING showing was $ signs waiting to be cashed in. That locker had air-conditioning units (2) Iron fence sections (many) Outside lighting power distributors (all stainless steel), Rollaway tool box (with good tools), built-in appliances the property owner took out before the bank took over, etc, etc.  I think I cleared $2400 on that one.  Now it would have gone for $2400 to start !

Movieman, haven't you figured it out by now, you have to buy it for $2400 this month otherwise you will just have to pay $2500 next month or $2700 in three months, it's inflation man!

Movieman, haven't you figured it out by now....

Yep, I figured it now. That's why now my main source for goods is PICKING !

I went to two auctions today that were only attended by NINE, count 'em NINE, people. And only 4 were regulars.

First place at 6 lockers and I bid on one (small but had at least ONE good item) and I stopped when the other regular went to $125....I bid my limit and didn't want to gamble on the rest of the contents (not much). I would have been really happy with it at $75 or so, but not to be.

Of the other five, there were two good ones but they went for $400 each and again I would have been comfortable with $250 to $300 based on what I saw. Just not that into gambling these days.

The second facility only had two lockers. First sold for $40. Second was a 10 x 30 about 3/4 full (aisle down the middle) but most particle board (which is OK if in good shape) and 13 year old Maytag washer/dryer. It went for $500...not enough smalls for me...and too many BIGS.

******

Yesterday I saw a guy (new of about 6 months) pay $350 for a lkr (10 x 15). I told him there was an item I was interested in so he took me in after he paid. The item wasn't quite what I wanted, but the information I gleaned WAS.
Boxes were empty. Cover over about a 10 foot by 6 foot area was covering low, lateral files cabinets (full of papers),
other stuff was worth about $200 at the most. His comment, "Man, I got screwed!"  Should have been "Man I screwed myself!"

My report for April 2013.

Crowds are down. 2013 newbies disappeared quickly! 2011 & 2012 newbies coming back in to see if prices have dropped & see if they can get in the game & make some money. Old-timers coming back too I'm sure for the same reason.

Prices have come down some, but the quality of units has dropped a lot more!

Many out-of-town store owner types showing up to our auctions. Inventory must be sparse & they are branching out further looking for inventory.

Your assesment rings true in my area too.

One store owner drives 100 miles (one-way) to auctions in my area!  He can't afford to take that box-truck back empty so sometimes he pays a premium for stock. Hope he's making some profit.