Auction Scene #9.....September, 2013

Happy Labor Day !

Post here what the crowds and locker prices are like as we edge our way toward the last quarter of 2013.

Went to two auctions recently with total of maybe 5 lockers.

First place had an OK 10 x 30 which went for an OK $250. Some good stuff showing but I just decided I had enough stuff for now and one can only STORE so much extra stuff.

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There was also a 1998 Honda "something" (a two door coupe) which was very clean on outside and very dusty inside (both windows were rolled down and it was covered by a tattered car cover).  This car had 2004 registration sticker on the plate and it looked like it had been sitting there for the last 9 years.

The car started at $25 (by the auctioneer) went to $75 and then a young turk in a Metallica wife-beater shirt shouted $300 like his bravado would scare everyone off. He learned it wouldn't when about 3 others chimed in, but only he and one other were left at the $1,300 range and he got it for that.

I asked the other bidder what he said it might sell for and he indicated maybe $3,000. You car guys can chime in here. Would a car sitting for 9 years have any special needs for getting it going. Don't fluids dry out, gaskets, etc? Seems like a fair amount of work IF  the engine/transmission are even good at all.

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We moved on to the last locker a 10 x 10 with 2" of leaves at the front edge of the locker when the door went up.
This one went for $250 to GUESS WHO...yep, the strutting Metallica "kid".  I wish I could describe the "swagger" of his step as he moved to lock it up. Needless to say (IMO) this newbie is in for a couple of lessons in buying...I'm not a car guy but I think I am right about that Honda not being a winner at the price he paid.

The 2nd auction I went to recently had only 3 lockers and I got there after the first one was gone (not a winner I heard).
As I walked down darkened hallways looking for the crowd, two guys caught up to me and the first words out of their mouths were..."What's an auction like?" 

I told them it was just like on TV but not as profitable. Then when we got to locker #2 a 10 wide by 5 deep, and I turned on my light they commented "We should  have brought a flashlight". Guess they didn't even watch the TV shows that carefully.

Needless to say the lockers were the usual junk and neither the newbies nor I bought either of the two we saw.

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On the way walking off the property a regular behind me said "If I'd known they were going to be that bad I wouldn't have even come"  REALLY, well why didn't you use your ability to see the future and make that decision BEFORE you
DID come?

We hardley get people now at the auctions itS GREAT.

Honda cars (any model) are pretty popular. I think they are the most stolen around here. They can be parted out and easily sold off for what he paid for it, but if he registers the car he has to pay cali for all of the years back reg fees  strip it, part it , send the parts to the Ukraine and sell them there and you have made big bucks

... but if he registers the car he has to pay cali for all of the years back reg fees 

Unless he filed a non-op on it somewhere alog the way, otherwise that would be a lot of years of fees.
He might have had the car at home or somewhere and just brought it to the storage place. Hard to imagine he was storing it there for 9 years  and payig on it all that tme.

So far for the month of September crowds seem to be falling off. Of course we haven't had any of our big caravan runs yet so i'm sure the crowds will return for those. Prices seem to be coming down on certain units. It looks like the crowd has finally figured out to not bid up the common garbage, flea market, trash bag units. Those types have been getting bid down the last couple of weeks. On the other hand, any unit that looks like a potential "jackpot" are still being bid up.

Recent auction looked like this.

Unit #1 $50
Unit #2 $20
Unit #3 $100
Unit #4 no bid
Unit #5 $1500 

Can't say this is a trend, but it looks like most of the current auction bidders have had their taste of losing money or working for nothing on the low end units, but the crowd isn't ready to "let" somebody else get a good unit at a good price yet, so when a nice one comes up, many go "all in".

So far for the month of September crowds seem to be falling off. Of course we haven't had any of our big caravan runs yet so i'm sure the crowds will return for those. Prices seem to be coming down on certain units. It looks like the crowd has finally figured out to not bid up the common garbage, flea market, trash bag units. Those types have been getting bid down the last couple of weeks. On the other hand, any unit that looks like a potential "jackpot" are still being bid up.

Recent auction looked like this.

Unit #1 $50
Unit #2 $20
Unit #3 $100
Unit #4 no bid
Unit #5 $1500 

Can't say this is a trend, but it looks like most of the current auction bidders have had their taste of losing money or working for nothing on the low end units, but the crowd isn't ready to "let" somebody else get a good unit at a good price yet, so when a nice one comes up, many go "all in".

Your usual "spot on" analysis !  That is to say, it pretty much sums up what my area is like as well...and you said it well.

Here's a smile for you !   

When does Auction Scene #10 begin ?

This month has been a weird month for bidding. I haven't bought any yet this month, but I'm going to have to buy something again here real soon! Went to an auction on Monday. A game room type room came up, pool table (not slate) real nice padded high top chairs (2) with table, neon signs (3) and some other posters and misc stuff. All game room/man cave related stuff. Went for $250. Next room, garbage everywhere, looked like it was just thrown in there. Couches from the 90's (fabric with wood and gold trim stuff), bedroom stuff. It may have been a whole house, but all dated, cheap furniture. Goes for $800. There were also about 40 people at this auction. Today went to one with 15 units. I stayed for about 10 and split to open the store. Nothing but crap except for 1 unit. Had a real nice tiger oak table, gun cases which the crowd knew to keep their mouth shut about, and tons of boxes and other misc furniture. It went for $600. Good price for the room. Too much for me to take on in my tiny space!

People are more aware what they store in the lockers. If they dont with all the attention they are idiots

Compared to the last few years, things have cooled off here in SoCal (San Diego County) a little bit.  The whales, including Rene from Storage Wars, are still duking it out for the premium units, but the average ones aren't commanding astronomical prices like they did during the "boom".  You can actually buy a somewhat decent 5'X10' for $300 or less, compared to $500+ in the not too distant past.  I think (most) people have finally realized that going all in on a junk unit and hoping to hit the jackpot isn't a recipe for success in this business.

When does season Auction 10 START ??

When does Auction Scene #10 begin?

Well, it will begin on October 1, 2013 since October is the 10th month of 2013.

Went to a couple of auctions last week. Nothing bought, nothing great to buy.

Also went to a piece-by-piece auction. Details in thread below.

http://storageauctionforums.com/picker's-paradise/latest-'piece-by-piece'-auction/msg30084/#msg30084