Storage Auctions
The Storage Locker => Stories about Storage Auctions => Topic started by: MovieMan on March 31, 2013, 10:28:25 PM
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If you live on the east coast it's ALMOST April Fools Day !
Have a good one and a good month of buying lockers and selling the goods inside !
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Well I took off last Friday for some auctions since I can't make my 7 facility one this month. I just wasted a vacation day. First u-haul canceled, 2nd one only had 2 units (450 and 375). Skipped the last U-haul to jump to another facility. Two empty units and a total bust of a day.
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Had two possible auctions today....until one was CANCELLED !
Second one had 8 lockers and crowd was decent. Some lockers were OK, but I could tell I wouldn't be bidding...my estimates on what they would go for were very close and those prices were 2 to 3 times what I would have paid for them in order to make a profit.
One of them went to a regular, long-time buyer and I was surprised he went for it at $325. I would have paid $150 at the most. It was 10 wide by 5 deep with a few good items showing and not much else for even surprise potential.
Oh well, they keep on coming..quality and price notwithstanding. ;D
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One of them went to a regular, long-time buyer and I was surprised he went for it at $325. I would have paid $150 at the most. It was 10 wide by 5 deep with a few good items showing and not much else for even surprise potential.
I wonder if that long time buyer had that moment we all have when we bid and we think "Uh oh. I hope someone else jumps in to save me!" You know? When your heart sinks..
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Crappy month here. Three sales so far. Canceled, canceled and one crappy unit. Bought for $150.00 by another regular. The manager wouldn't take any less than that. Nothing else until May. I've been doing some picking to help keep up inventory in the store.
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Crappy month here.
Same here. Went to 3 auctions today. First place had 6. One went for $250. I would have paid $100. Others not worth mentioning.
Second place had 6. All bad and prices were high for bad. Five x ten lockers with hardly anything in them went for $75 to $150.
Third place at 2 lkrs. Both bad. I didn't stay around to hear what the 2nd one went for.
There was a crowd of about 40 at the last two places. Six familiar faces. The others were newbies and I mean new. I didn't recognize any of them.
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One of the regulars who started 9 years ago at same time I did usually buys about 8 lockers a month and he travels in a radius of about 80 miles, buying all over. He told me today he has bought ONE in the last four weeks. That should tell you something about the quality of the goods in my area.
Another regular of two years bought a big tool locker about six weeks ago and figures to break even...paid too much. His only other purchase was for $250 about 3 weeks ago and he said it was all trash.
Oh, well. More auctions this month...maybe things will get better...or not.
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I bought 4 units on the 1st and nothing since. This week was hot and heavy with the auctions. I went to 11 properties this week. Saw about 50 units.. there were 5 good units to bid on and they all went for ridiculous dollars. I've seen more no-sales this week than any other time. 4 no sales.. Tomorrow I've got 1 auction to go to.. Hope I can pick 1 up so I can have new stuff to sell this weekend..
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Hooray!
I'm back in the game. Bought my first locker of 2013...the first since mid-December, 2012.
It's a 10 x 30 for $130. Don't get excited. It was one of those that had been picked over when the tenant moved out, but enough "good" stuff was left behind to make some profit.
The 13 lockers that were sold actually had some quantity and quality for a change and this was at a place not known for that. The other lockers were decently priced too. One regular got a packed 10 x 15 for $700 and that seemed OK for what was seen.
Another 10 x 15 with good looking furniture and no smalls went for $750. It was a bidding war between two regulars and the guy who got it should have stopped. I think he will break even....could have dumped it on the other bidder at $700 but didn't use his head.
One 10 wide by 5 deep went for $450 with some beat up tools showing. I would have paid maybe $200 to make some money.
So, a couple of things for me and the rest for sale, and even though I enjoyed the cleanout (not yet done) it reminded me of the difference between lkrs and picking...I'm still going to concentrate on picking!
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Tax season is a monster. A good reason for lack of auctions in general is everyone paying up on their units due to the big check. Went to an auction yesterday in Florrence SC (an hour + drive for me). 5 Units, maybe 7 bidders. Bought a buisness type unit for $85. Large trash cans, a little bit of office furniture. Some 'Open' signs. The big ticket item seems to be one of those Poles for changing letters on signs, along with a ton of letters.
Every unit sold that day was somehow buisness related. One had nothing but gym machines. Would of loved to took a chance on it but was un-sure how it would move. The other units were full of filing cabinets and office chairs of some type. No unit went over $200. No more auctions here until next weekend.
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Well today found me at my local small town location. 7 units were down to 4. They put min bids on the units. I ended up buying 3 of the 4. Was only 3 people for the auction. Myself, a new/old regular, and some couple I never saw. One unit I already could say to have made money on. Pulled out a pair of sapphire and diamond earings that my wife loved and is keeping. I should make money on all of the units.
A 5th unit came up for auction. It was one that the lady was suppose to be there at 11 to pay partial for in order for unit not to go up for auction. Well we were done with the 4 units, was like 11:20 so they pulled her lock. 5 mattress/box spring, junk bed showing. They pulled the large wood blocking view down and was 4 stacks of large vac packs w/ cloths, could see some furniture in back. I offered $20, she wanted $25 so I said sure. Turn around to put lock on door and a black lady comes running up. She had the $300 partial payment for them. Now at this point the unit is technically mine. I could tell they (young ladies) were uncomfortable. Of course the lady is pleading and begging -- that has her whoel house in there. I said "shouldn't of told me that". My "nice guy" complex kicked in. I had the ladies give me back my $25 so they could make more money on the $300 from the lady. I also avoid all of the drama I knew was about to unfold, plus I now have some good-will with the ladies for future auctions.
As a part-timer / hobby I can play the nice guy. If did this for a liven it would of been give me the $300 and it's yours, or nope, sorry, come by the flea next weekend and you can buy your stuff back.
One of the ladies did come up to me later when I returned to start cleaning out unit to say thank you, and that they will not forget the goodwill.
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One of the ladies did come up to me later when I returned to start cleaning out unit to say thank you, and that they will not forget the goodwill.
The goodwill with the mgrs could easily be worth the $300 or more....not to mention just plain doing the right thing considering the time element involved of her showing up at the last minute (plus).
Wish I could go to an auction with total of 3 people. That hasn't happened to me for years. The place it did happen now has the usual crowds.
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Ya Movieman I didn't really worry about the $300. Caught a little flak from people but oh well. As you said the timing was just to close and I try not to be a Azhat.
It's strange but for some reason even last time there was only 5 people at this auction. Anywhere else, even 10 miles down the road finds dozen + for just 1 unit. Granted the units are not known for high end stuff but that is why the prices are low. That and it's a saturday so I'd think the newbies would be out. I'll take it and cheer.
Update on the units - I'll have to make the money on the few furniture items out of the one unit. Reason being - my wife and kids keep finding stuff they want to keep. The cloths / sports unit has a bunch of GA Bulldog stuff in it. Found those earrings in that unit. Also just found some Wii games (kids keeping to play) and a DS lite that I hope works. Other unit had a N64 (need to test) and a few games. That I may keep to play some of my older games I love.
So keep wise I'm way ahead of the game IMO on a $90 investment. Is going to cost me $20 in a trash run once done, a goodwill run, and more stuff for the church. Flip side - have a vac, kids bike, tons of kids toys, a corner display cabinet ($100 or more), 2 bouncies, stroller, etc. all to sell. May take a little time but can see a $200-$300 profit or more after expenses.
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Checked my schedule this morning. More of the same Cancel, cancel. Looks like I either have to do some real traveling or find some really good picks for the first half of May as well.
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You know the units and auctions are bad when you have an auctioneer talk to you about all the garbage they are seeing. It's been few and far between for decent lockers and once they show up the bidding is crazy. I understand it though with regulars since they are trying to stock their shelves at the thrift stores. But I hope it starts turning around soon so more lockers are big, clean, neat and packed!! Is that wishing for too much? I think not! ;).
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But I hope it starts turning around soon so more lockers are big, clean, neat and packed!!
There's always HOPE !
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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 !
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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. :P "There's always tomorrow and tomorrow" as I keep saying for more auctions.
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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...
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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.
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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..
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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.
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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!
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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.
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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!"
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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.
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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.