Auction Scene #3....March, 2014

Whoops....too busy picking I guess, but here it is.

March 9, 2014....

In like a lamb?  That's the weather here in central California but elsewhere super rainstorms are creating mud slides down near LA and Montana had an avalanche that killed at least one person.

So, weather wise it's a mixed bag.

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I'm going to a few auctions this week with a piece by piece being my favorite.

Went to auction in Arlington yesterday (Washington State).  It was an auction that was done on a short notice and early on a Saturday, was hoping not too many people would show up.  Wrong!  Between 60-70 including 3-4 store owners I know.

First locker, had three cheap bicycles....not high end bikes, more like Walmart and Kmart bikes.  Also had what looked like a broken telescope and some other junk.  Sold for $450.00.   I was afraid that was a bad sign and it was.  Except for one $10 locker, they all went from $450-$800.......not a single one of them would have gone for more than $200.00 in the long ago wonderful world of the "pre show era"!

I don't know why, but the last four or so auctions I have been to up here has seen a resurgence in new buyers.  What is up with that?  Out of the 60 people, about 15 were regulars, and one of those is a guy that came around after the shows started but has kind of worked his way up to veteran status and gets to hang out with the cool kids  at the auctions. 

My next storage auction will probably be next Saturday, so I guess we will see how that goes.  I have only purchased ONE locker this year so far.  For the most part, I am not missing the dump runs, but I do like to buy a locker once in a while just to dig through other peoples stuff for the entertainment.......and hopefully profit!

Same thing down in the Tacoma area; LOTS of new faces coming out of nowhere.

Now, I've only been doing this since September 2012 - and yes, I got into it because of "the show" - but I've purchased 107 units in that time.  I hope that makes me a "cool kid" too! lol

It's hard for me to hit many auctions during the week with my day job, but there is a caravan Wednesday with the last facility starting at 2:00. Its only a few minutes away from work so I'm going to leave a few minutes early and check it out. Still looking for my 1st unit of the year.

I have to say, the good news for the places I haunt is that there really doesn't appear to be a great influx of newbies this tax season. Yes, everyone is complaining that the "newbies" with "tax return money" are running up the units, but I consider myself pretty good at recognizing faces and there are some auctions that I recognize everyone there although some have not been around in a while, and other auctions with only a couple of new faces.

No, my opinion is the TENANTS are paying off more of their units so we just don't have very many units to bid on and 90% of them are moderate to garbage condition. Very few nice units coming up. Add to it because of tax season, the thrift store owners are selling a lot of inventory, especially furniture, so THEY are the ones running the units up because most if not all of them need to replenish their stock.

Still alive here in Fayettenam, and still buying storage lockers. Bought one today for $225, beautiful dresser and mirror combo I'm gonna start at 300 - it is that nice. Lots of home interior decor, decent household items. Boxes werent quite as good as I would of hoped, prolly looked better from the door. Decent profit unit but no world beater.

I bought a locker today!.  My plan is to take a picture of it and as I pull all the stuff out, document what I throw away, give away, and what good stuff is left and what I actually sell it for.  I don't think it will be a big dollar unit, but I only paid $100 for it.  I haven't even looked in it yet...I bought it and put a lock on it and paid and had to go meet someone on something else I had for sale.  I'll probably clean it out tomorrow, it's a 5x10.

Anyway, there were a total of 13 lockers there.  One lady bought six of them, including an awesome tool unit that went for $1300 before the 10% buyers premium.  I was good until about a thousand, but after that, it takes to long to get your money back.  I could see a good $800 from the door, and I'll gamble some, but It's one of those lockers that could be a killer profit or at that price she just struggles to break even.  I'm sure I'll hear about it! 

Mixed crowd today.....prices were still mostly up, with a few that actually sold for what I felt were good deals.  Still too many new people in the mix, and I heard a couple talking about "rolling the dice" and taking a chance on one...I thought $100.......it sold for $450!  Overall, prices still averaging way too high for expectations of a decent profit.   

Oh, and I used to buy 5 or 6 in a day and many in a month........this is only my second locker this year! 

Went to an auction promoted by a local auctioneer in the Seattle area.  I went to this same auction last month and the crowd was around 20 people, about half regulars.  This month there was about 50 people with about 35-40 of them being new faces.  When I saw all the trucks with trailers in tow parked throughout the facility I was pretty close to leaving, but thought what the hell.  I should have left.

There were 6 units and it took about 25 minutes for everyone to view the 1st locker.  It was small with a few shoe boxes and surprisingly went to a new regular that likes small units for $125 or so.  Here's where it gets good.  The next unit was a 10x10 with junky particle board furniture, low end kids toys, low end household goods, and a junior guitar case in the corner.  It screamed low end apartment, but for the right price someone could turn some profit.  I was thinking a $40-$50 unit, especially since it was on the 3rd floor, but didn't have any desire to bid on it.  The auctioneer opened at $25 and it went to $50, then someone yelled out from the back "$500!"  YES $500!  The auctioneer was actually speechless and it took him a moment to catch his breath.  5 seconds later he said "sold" and the winning bidder jumped up in the air, pumped his fist, and yelled "that's what I'm talking about!"  It was straight out of Auction Hunters or Storage Hunters!  He sure showed everyone else!  (Could have got it for $200 max probably).  The guy was shaking from excitement / nervousness, it was quite bizarre. 

At that point I tried to leave but realized that I parked inside the facility and was basically stuck until the auction was over.  Another unit that looked like the leftovers from a storage auction gone bad went for $300.  The last unit was a hoarder garbage unit for which I walked away from and didn't see what it went for.  I was kind of afraid to see what someone was going to pay. 

All in all a waste of time, but the majority of auctions are when you think about it.  You just never know curveballs each auction will bring, as they're never the same!   

 

Auctions that once had 10 people now have 30 ... 25 of them being newbies.  Prices are getting higher again, units are overall junk and the business is going through another landslide.

I'm taking the next several months off to wait it out.

Picked up two lockers today!  Medium sized crowd but prices were good overall.  I ended up with two lockers...5x10 and a 10x20 for a total out the door of $205.00!

Locker one (5x10) had an almost new (manufacture date of 12/2011) memory foam mattress and box spring, frame, dresser and matching end table, a small desk, and some sleeping bags and a Nautica comforter.  Not bad for 27 bucks!

Locker two (10x20) I have only gone through a little bit of, but it had a nice looking queen bed with frame and headboard, wardrobe, nice buffet that I should be able to get at least $300 out of, an antique secretary desk, a spot bot, some boxes of stuff I haven't looked at yet, and a bunch of other furniture.....it should be a very profitable couple of lockers. 

For two hundred bucks, that's a no brainer. Hope you do well on them.

ok so I lied.  A good PS run came up and I bought 4 for a total of $5k

Mostly new faces running me up but overall I'm happy

Unit 1: 1100 - 10x15 pulled out some lladros, vintage china sets, a little gold, antique sterling silverware - quick turnover price of about 3k

Unit 2. 1800 -10x15 Pulled out artwork from late 1800's, custom furniture, antique buckets - long term unit will pay off about 5k depending on what everything gets at the auction house

Unit 3: 200 - 10x30 filled with antiques - haven't even gone through it yet.  From the door another long term unit hopefully will pay off another 5k

Unit 4: 2000 - 10x20 boxed generators - look like a guy who was buying returns from home depot.  20 generators still new in box.  Sold 3 after auction for 1500 total so if I stick with 500 a unit I'll be at 10k real quick.


When the units come up you have to take advantage.  These kind of rooms are getting few and far between.  They just happened to all come in at once.