Today's Auction

Hit my first of 3 Auctions over the next 2 days. of the 30 bidders that showed up, 10 were Hardcore Regulars, 3 really obvious noobies, and us part timers made up the rest of the field.

6 units in all going from $5.00 this unit I didn't think would even receive a bid, as it had a broken infant swing, a small box that appeared to have nothing more than old school papers, and an empty storage bin.

3 good unit out of the 6 one went for $375.00 and another that went for $1025.00 full of tools , mechanic, lawn tools, oh and a samurai sword. I bid on the other unit had some good quality leather furniture, a silk screening machine, a hooka as well as numerous storage bins and some low quality speakers.

2 more auction tomorrow one @ 11 am and the other @ 1pm will give an update on crowds and pricing on those.

I take it the Friday the 15th lockers didn't pan out ?

Sorry Movieman I forgot to report on Fridays Auctions.

The first one never happened as all units were paid for by tenants.

The second Auction, 20 bidders, 3 regulars the rest noobies.

First unit 10x10  with everything in one corner, contents a few stuffed animals, 23" TV, Old computer, a lamp, and a lot of bags with clothes and trash. SOLD for $45 to one of the noobies.

Second unit 10x30 a Business unit, had two desk, two Hon file cabinets, old computer monitor, brief case, and somewhere between 100-150 boxes of paperwork. This unit SOLD for $55 to another noobie.

No I did not bid on either unit as they both had more of a dump run look to them than anything else.

Well, there are always more of this kind than there are of the best ones (or even the better ones).

The good news is the newbies paid what they were worth rather than some inflated price.

All we can do is keep going, hope for good lkrs and good crowds.

*****

Be interesting to see where our new northern California member is from...says he is going to do this full time !

Be interesting to see where our new northern California member is from...says he is going to do this full time !

Yes, since he is probably closer to you than he is to me!

The noobies had the good since not to pay too much, however whether they were able to make a profit??? Not to sure of that! I suppose they may have found a hidden diamond ring in the back corner!

I am reading some of the posts and found this one and saw that you guys are wondering whats going on in my neck of the woods. 

I am going to dive into this full time and have attended several auctions over the last couple of months to get a feel of whats out there in terms of attendance and quality.

I have concentrated my auctions to eastbay area, (Stockton, Brentwood etc.) 

There have been quite a few people in attendance but nothing outrageous in terms of bidding getting out of hand.  There were a couple of lockers that I would have bid about a 100 less than they went for but none went for more than 600.

I would say the average has been about $300 out of the 30-40 or so lockers I have seen. 

I am very much a beginner in the storage auction business and have not even bid on a locker, but as with any startup, I am doing my research and preparing myself for what I need to do.
By attending these auctions it has given me great insight and some good practice at "silent bidding"..
I am learning what to look for and how to spot it.  I try and set my max bids on the item in my head based on what I can actually see and not on what I think or a feeling I am getting. 
It's common sense for the most part
I will keep you all posted as I get closer to my "grand" opening.

@Bayernscr,

It's a good beginner strategy to only bid on a unit based on what you can see from the door, but in my part of the country you will almost never when a locker that way. I first started out counting up the furniture, o.k. $15, $20, $40; a couple bags and boxes of clothes and who knows what $25 to $50, and said to myself o.k., I will bid up to $80 maybe $100 and then watch the units go up to $350-$500! 

Now I use a quasi-cubic footage strategy. I look at the size of the unit 5 x 10, 10 x 10, and then look at how high the stuff is packed up the walls, 1/4 way, 1/2 way, totally full. I try to bid no more than $0.50 per cubic foot.

The Good news is this strategy seems to win me more units, or atleast I am more competative in the bidding. The Bad news is the R.O.I. is much lower using this method, but so far this method has not totally bitten me in the butt. It's possible I could get burned using this method, and if I do I will probably go back to bidding based on what I can see from the door. 

It's a good beginner strategy to only bid on a unit based on what you can see from the door, but in my part of the country you will almost never when a locker that way. I first started out counting up the furniture, o.k. $15, $20, $40; a couple bags and boxes of clothes and who knows what $25 to $50, and said to myself o.k., I will bid up to $80 maybe $100 and then watch the units go up to $350-$500! 

This describes the way it is in my area. Even the junker lkrs that used to go for $5 to $25 sell for 4 times that amount and you have to figure there is no money being made and probably money being lost.

Your new approach will bear watching!