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  1. #1
    jcarlisle's Avatar
    jcarlisle is offline CM Emeritus, Reg. Member
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    Lightbulb Monetize Auctions: Capitalizing on the Influx

    I'm reading and hearing from more and more of you that "Storage Wars" and "Auction Hunters" are bringing people out in droves to your auctions. Unfortunately, most state laws allow you to make only what you lost from the delinquency. The rest of it has to go back to the original tenant.

    I know I've heard from a lot of you, quite emphatically, that you're in the business of renting space, not in the business of auctions. I can certainly respect that viewpoint. So, you might bristle a little at the idea that there might be business to be done on auction day, in addition to what you get from the bids to recoup your losses.

    But nonetheless, do any of you have ideas for how to monetize auction day? It seems like this rush is something you can take advantage of.

    Maybe you contract with some outside businesses to offer on-site cleaning, polishing and repair of items obtained on auction day, which you charge a fee for. Maybe you offer a one-day-only special prize to all auction attendees for an available unit?

    Just thinking "out loud," and wondering what you think.
    John Carlisle
    Community Manager Emeritus
    Still a Big Fan of Self-Storage!
    www.chicagoprowriter.com

  2. #2
    StorLyon is offline Senior Member
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    Yeah auction day would be a good day for the hotdog stands and soda machines if we had some of those...hmmmmm.

    We sell a few locks to the forgetful buyers.

    A bucket of LED flashlights would probably attract the attention of the new guys who see the experienced buyers carrying their million cell maglights and rechargeable floodlights. Or we could even start carrying those same heavy-duty solutions. Little riskier tho, with the greater expense and the uncertain future of these unusually large crowds.

    Maybe those who operate trucks on the side could rent them out for haulaway like the home-improvement stores do, or better yet use a single large truck for a dump-run, and charge buyers to throw their bulky, unwanted items in that load.

    If we're going to be drawing a crowd anyway, and having to deal with those hassles, I don't see any reason not to try to generate profit from it...just as long as it doesn't in the slightest degree alter the legal side of the sale itself.

  3. #3
    JamestownStorage#8's Avatar
    JamestownStorage#8 is offline Senior Member
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    Quote Originally Posted by StorLyon View Post
    Yeah auction day would be a good day for the hotdog stands and soda machines if we had some of those...hmmmmm.

    We sell a few locks to the forgetful buyers.

    A bucket of LED flashlights would probably attract the attention of the new guys who see the experienced buyers carrying their million cell maglights and rechargeable floodlights. Or we could even start carrying those same heavy-duty solutions. Little riskier tho, with the greater expense and the uncertain future of these unusually large crowds.

    Maybe those who operate trucks on the side could rent them out for haulaway like the home-improvement stores do, or better yet use a single large truck for a dump-run, and charge buyers to throw their bulky, unwanted items in that load.

    If we're going to be drawing a crowd anyway, and having to deal with those hassles, I don't see any reason not to try to generate profit from it...just as long as it doesn't in the slightest degree alter the legal side of the sale itself.
    Funny!!!About the flashlights!!!

    Great idea, SL, about them renting the truck!!! I'm still getting used to having a truck!! Thanks for getting my wheels spinning!!!
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    High Point,NC
    AAA Self Storage


    Success always involves risk; you can't steal second base with your foot on first. - Frederick Wilcox

  4. #4
    Gina6k's Avatar
    Gina6k is offline Moderator
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    StorLyon thanks, got me to thinking also. Maybe we could rent out step stools and sell flashlights, & maybe we could sell stilts like the guy used in that episode of Storage Wars.

    Any other ideas for consumables during auction other than padlocks &/or boxes? I wish I had my LED locker hats already! I can see auction bidders liking those for when they are peering into boxes. So much easier than holding a flashlight with one hand.
    Gina 6k
    CochraneStorage dot com
    Morgan Hill, California
    twitter.com/CochraneStorage

    You only live once, but if you do it right, once is enough!
    I am not an attorney, just an experienced manager who is willing to share what I have learned. Your thoughts, practices or opinions may vary and neither of us may be right.

  5. #5
    Lisa T's Avatar
    Lisa T is offline Senior Member
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    How about selling some of those x-ray specs that us old-timers used to see for sale on the back page of comic books? There was usually a young guy wearing the specs, with an x-ray vision of his hand in front of him, in the ad.

    Seems like that would be a pretty handy item for an auction buyer to have! Look right through cardboard and see what's in the boxes, or what's on the other side of those mattresses!!!

  6. #6
    StorLyon is offline Senior Member
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    HAH! I like it.

  7. #7
    LLLVIS's Avatar
    LLLVIS is offline Senior Member
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    "I hate quotations. Tell me what you know." - Ralph Waldo Emerson

    http://larrylaunders.voice123.com/

  8. #8
    JamestownStorage#8's Avatar
    JamestownStorage#8 is offline Senior Member
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    Default Re: Monetize Auctions: Capitalizing on the Influx

    Thanks, LLL, I've never seen that before (yes...we were very sheltered...no comic books except for road trips--which were few)!
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    Pat Friddle
    High Point,NC
    AAA Self Storage


    Success always involves risk; you can't steal second base with your foot on first. - Frederick Wilcox

 

 
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