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GraysOnline advises all buyers that all plant offered for sale at auction may not be fit for use in a workplace.
John Bradley, at left, manager of King's Empire Auctions, shows one of the storage units whose contents were sold at auction on Saturday, March 22. Union Storage, above, owned by Union Baptist Church, has had four or five storage unit auctions in the past two years. Dozens of people began to drift into the standing-room-only, dimly-lit ground floor office of an old brick building on Midland Avenue, stubbing out half-finished cigarettes on the sidewalk and brandishing the tools of their trade: heavy-duty flashlights and steaming cups of Dunkin' Donuts coffee. One by one, they gave their buyer information at the registration table in the front of the room, exchanging their name, Social Security number and payment information for a white, rectangular bid card with an assigned number.
Up for auction that day were the undisclosed contents of seven storage units, all forfeited when their owners failed to make rent payments to Union Storage. Warehouse manager Dennis Day later told The Times that the owners of the storage units were all long overdue on their rental payments, some by as much as five or six months. Day told The Times that he often doesn't know what's in the storage units until the locks are cut. Many of the bidders, such as first-timer Derek Cornetto, later admitted to The Times that they had begun going to auctions because of programs like "Storage Wars," a syndicated television show that follows professional buyers who frequent California storage auctions.
But others had clearly come with the intention of putting their capital to work and making some money. Marshall Sandoval, a Passaic resident and former student at Montclair Kimberly Academy, told The Times that he's been making a living for about a year from storage unit auctions, buying the contents and reselling them at local flea markets and on Craigslist.
Like a true professional, Sandoval told The Times, he comes into every sale with a formula for success.

Forming a 50-person line that snaked through the lobby of Union Storage, the day's storage warriors each got a 30-second look inside the locker. When everyone had gotten a chance to see the contents of the unit, Bradley launched into a rapid auctioneer chant - "Do I hear 80, 80 dollars, gimme 80, looking for 80" - watching the room for the raising of the white cards that would signify a bid. After the unit sold for $40 - one of the lowest bids of the day - Bradley moved on to the next one, repeating the process.
The day's most expensive unit - which sold for $630 - contained a pile of folders and manila envelopes, in addition to a pile of seemingly valueless boxes and Tupperware storage containers.
This auction will be a little different because it's a "preview sale," said Bradley, who explained that interested bidders will be able to examine the available items in detail for an hour before the auction begins.
Bradley told The Times that there would be a range of items available for bid, including military and World War II artifacts.
Bids on assets in this sale should be made based on your inspection and assessment of the goods. It is the buyers/owners responsibility to ensure that an operational risk assessment is undertaken, prior to use, and the plant be brought to a condition which complies with relevant State Legislation, Regulations and applicable Codes of Practice. Day said that he tries his best to work with delinquent renters - "I don't want to sell anybody's things" - but there comes a time when enough is enough. He said that his rule of thumb is to buy at 40 percent of the price he anticipates that he can sell the objects in the storage unit for. Inside lay an underwhelming collection of used golf clubs, a broken-down washing machine, a dust-covered chair and a decades-old vacuum cleaner. But as it turned out, Bradley later told The Times, the folders contained a variety of collectables such as baseball cards, stamps and coins.

Asset packaging and removal are the purchasers responsibility in the time frame specified for this sale. A copy of your invoice will be on site with GraysOnline staff to assist in documenting the removal process.
Sandoval added that it helps to be aware of any potential buyer's premium, a fee that the unit's purchaser pays to the auction company, and which usually runs from 5 to 15 percent. The next unit, which contained a black powder rifle wrapped in a black plastic garbage bag, went for $210.
Payment - Invoice totals exceeding $5000 must be paid by direct deposit within 2 days of auction closing. This makes graysonline work more like a live auction where the bidding doesn’t stop as long as there is still interest in the product, rather than assigning an arbitrary cut-off time. If you intend to send a third party to collect your goods on your behalf, you need to send them with a copy of your winner’s e-mail along with a photocopy of your photo ID and signed note of authority permitting Grays staff to release your purchases to the third party. Please Note: Packaging and collection of assets is the responsibility of the purchaser.
For invoices totalling less than $5000, your credit card will be debited within 2 days of auction closing. Items must be inspected before removal from site as refunds or exchange are not given under any circumstances.

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Author: admin | 29.08.2013 | Category: Small Storage Buildings

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