It is currently Jan 21st, '18, 00:40


All times are UTC - 5 hours [ DST ]





Post new topic Reply to topic  [ 7 posts ] 
Author Message
 Post subject: What is your opinion of people who bid others up?
PostPosted: Feb 18th, '11, 11:37 
User avatar

Joined: Feb 18th, '11, 08:16
Posts: 33
Location: Houston, TX.
Lately, I have seen a lot of people bidding others up in the hope that they will lose money on a unit and not come back to the auctions. As a professional storage auction buyer myself, I can understand the frustration that other people have with the scores of new buyers in attendance, especially those who depend on storage auctions to make a living. The new buyers are pushing the prices to the point where no one can make a profit.

Personally, I feel that running others up is poor etiquette. If you aren't interested in the unit, don't bid on it. We are all here to try to make a profit and bidding up units hurts us all in the long run.

What is your opinion on this subject? Do you see this as a useful tactic or a childish game?


Top
 Profile  
 
 Post subject: Re: What is your opinion of people who bid others up?
PostPosted: Mar 12th, '11, 02:24 
User avatar

Joined: Nov 7th, '10, 13:27
Posts: 138
Location: Virginia
I see this done by both new patrons and the regulars. It's not hard to spot and it certainly doesn't make any friends. I try to be a straightforward bidder and I'm very open and courteous to the other folks at the auctions. I don't mind talking about finds or telling people when and where auctions are that they may not know about. I don't blab everything I know, but if someone asks me questions I don't mind answering them.

I've noticed when someone is purposefully running up the bid, I can get them to stop by acting as if I'm unsure about the bidding level we're at, and showing some hesitation on a bid. Usually if I act hesitant, but then place another bid anyways, the uninsterested parts that is elevating the bid will immediately drop-out.

I don't forget the folks who do this and I will often return the favor. We have a local auctioneer here who likes to attend the storage auctions to feed inventory into his physical auction house. I've seen him run up the bid on many people, including me, on units he was clearly not interested in. We were recently at an auction where he whispered an opening bid of $800 to the auctioneer, a tactic I've seen him use in the past to secure a unit without issue.

When I realized on one else was going to bid against him, I went to work. I didn't even want this unit but this guy had it coming...he eventually owned it for $1500...hehehehe.


Top
 Profile  
 
 Post subject: Re: What is your opinion of people who bid others up?
PostPosted: May 5th, '11, 19:53 
User avatar

Joined: Feb 18th, '11, 08:16
Posts: 33
Location: Houston, TX.
You're going to Hell for that. Just kidding.


Top
 Profile  
 
 Post subject: Re: What is your opinion of people who bid others up?
PostPosted: Jun 15th, '11, 15:39 
User avatar

Joined: Nov 7th, '10, 13:27
Posts: 138
Location: Virginia
Hehehe, going to hell for many reasone; I guess that didn't help my cause.


Top
 Profile  
 
 Post subject: Re: What is your opinion of people who bid others up?
PostPosted: Dec 19th, '11, 05:08 

Joined: Dec 19th, '11, 05:04
Posts: 1
Sorry to resurrect an old post but I just had to comment. Running up a bid seems to be a really stupid tactic. There's a 50/50 chance that the person running up the bid is going to end up with a unit he doesn't want at a price that may not be profitable. He's taking a big risk to make a statement that a newbie might not even hear or understand.


Top
 Profile  
 
 Post subject: Re: What is your opinion of people who bid others up?
PostPosted: Dec 20th, '11, 00:30 
User avatar

Joined: Nov 7th, '10, 13:27
Posts: 138
Location: Virginia
MrLupin, the only folks I see running up bids are the "regulars" who show up with at least $10,000 cash on them and understand the risk they are taking when doing so. I've run up the bids a few times, and each time only as payback for someone who had done the same to me in the past. Often you can sense how interested another buyer is and it's easy to squeeze a few hundred more out of them.


Top
 Profile  
 
 Post subject: Re: What is your opinion of people who bid others up?
PostPosted: Mar 9th, '12, 04:15 

Joined: Mar 9th, '12, 03:27
Posts: 1
Location: 100 Jersey Ave, New Brunswick, NJ 08901
I really hate which people, they don't know anything about a bid but still they bid.

_________________
vpn iphone


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 7 posts ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Web Site Content Copyright © 2011 StorageAuctionBoards.com - All Rights Reserved.
Forum Powered by phpBB © 2011 phpBB Group


Top Storage Auctions   virginia web design