Went to my first storage auction!

But i didn't get a locker

A small storage unit company near Peoria had 3 units up for auction on Saturday. I wasn't busy dealing with the store, so i went. I took $2000 and 3 locks with me. There were about 16 or 17 people there, most of them were college-aged kids.

1st locker (a 10x15): I was right in front of the door when it was lifted and a nasty smell hit me like a sucker punch. It smelled like someone ate a couple cartons of baked beans and spent the night in there. From what i could see from a distance was next to nothing. A rusty bike, a few tires and a fridge (100% likely the source of the smell). No one bought it (shocking). The poor auctioneer spent 20 minutes trying to pry our wallets open for it.

2nd locker (10x15): This was a business unit. 2 computer desks, 3 filing cabinets (in good shape) and half-dozen swivel chairs (one of them seemed broken). I went after this but got outbid. Yeah...carrying $2 grand and got outbid. Remember those college-aged kids i mentioned? 3 of them were fighting me tooth and nail. The unit ended up going for $3,050.

3rd locker (5x5): 2 medium-sized rubbermaid tubs of clothes. Not worth my time to go to Goodwill. Went for $100.

It was fun to go to the auction, but not fun because i lost a good unit. Oh well. Better luck next time.

2nd locker (10x15): This was a business unit. 2 computer desks, 3 filing cabinets (in good shape) and half-dozen swivel chairs (one of them seemed broken). I went after this but got outbid. Yeah...carrying $2 grand and got outbid. Remember those college-aged kids i mentioned? 3 of them were fighting me tooth and nail. The unit ended up going for $3,050.

I hope there was MORE in it than what you describe above for over $3,000.  At the 10 items you described, that works out to $300 each.

I would have bid on that stinky locker all day long for a $1.  I love bikes and rusty bikes are cool( people love them for decor in the garden).  I could have taken that fridge to the scrap yard for a good $30 in my pocket.

3,000 for some desks?  You won that battle.  Those kids are gonna be calling Sallie Mae for an extension, since they just blew the FASA on a get rich quick scheme.

I took $2000 and 3 locks with me.

At one of the auctions I went to last week they cut a lock and raised a door. Everyone went to go take a look but were stopped when the door next to it was cut and raised. Okay a double unit we all thought. Went to take a look and got stopped again, yup the next door the lock was cut and up went the door...a triple door unit. Everyone had 1-2 locks with them and I had 5, but I didn't want the unit after seeing what was in there (lots of big furniture and two large projection TVs.) So the bidding goes round and round and the next thing I knew it sold for $550. The young kid that won was all smiles until I leaned over and said, "So how are you gonna lock it up?"

Going to our second auction run different auction company. Starts late today, early ones cancelled.. Looking forward to a nice rainy day here in sunny FL.  Will keep you posted on the crowd on a potentiality nasty day.

Would have to agree that you won on the $3000 unit. Do they realize they have to move that stuff and sell it to get their money back? No returns like Walmart..

But i didn't get a locker

2nd locker (10x15): This was a business unit. 2 computer desks, 3 filing cabinets (in good shape) and half-dozen swivel chairs (one of them seemed broken). I went after this but got outbid. Yeah...carrying $2 grand and got outbid. Remember those college-aged kids i mentioned? 3 of them were fighting me tooth and nail. The unit ended up going for $3,050.

It was fun to go to the auction, but not fun because i lost a good unit. Oh well. Better luck next time.

If that is all that was in there you did'nt lose a thing! I don't think you will be seeing the winner of that unit at an auction again! Maybe it's just me but it's hard to get even $3000 in gross sales from one unit. We are typically shooting for double the money of the winning bid amount, so do you think there was $6100 in used/resale inventory in a 10 x 15 ?

I would have to say that you were the winner as well. I would not be bring 2 grand to auctions until I got me feet wet with buying and selling what I bought. Buying is easy, Selling will be the tricky part. I bring $500 with me and don't want to spend that much.

Thanks for the comments guys. I guess i got a little over my head for my first auction. Good thing it didn't cost me any money to learn the lesson.

I would also have to agree, being well prepared by bringing 2 grand is a little much for newcomers to bring. Get experience with the sales part of it first. Then be prepared with as much money as you can bring.