i went to one in vic a few years back. was amazed how much people will pay for crap, seemed like everyone went there to try and get a good deal on something, and walked away after getting into the bidding and bidding way too high and ending up with some piece of junk for $100.
Some people will and do pay way too much for things at auctions, you need to do some homework beforehand and know what things are worth then set a limit on what you are willing to pay for it.
saw a 20 year old grandma style bike go for $75. the sort of thing you wouldnt pick up off hard rubbish.
You will find rubbish at auctions but good stuff can also be found and also for cheap prices sometimes.
Although if the bikes are worth anything, chances are that the owner will suck it back up ASAP, so dont get your hopes up on a SUNDAY WC
Possible, but the 'original' owners of these 'unclaimed items' mightn't know about the auction, might have replaced their 'lost' item through insurance or their own pocket, may have just given up looking for it and trying to get it back or they might live a long way away or have moved. Some of the stuff at this auction may have collected by the Police 6 months ago. Most of the stuff at this auction is probably stolen goods that has been seized, but some of it may have been bought new by a criminal and seized as it is seen to have been bought through the proceeds of crime.
I'm wondering how much of the stuff will go for more than what you could flog it off to a pawn shop in kings cross for?
Most stuff would probably sell for more than what a pawn shop would be willing to buy it for let alone adding a profit that you would want to make. From what I understand of pawn shops, they are a good place for quick small amounts of cash, but not a good place to get a decent price. If you bought something to later resell for a profit, ebay, the trading post or classifieds would be probably be the better options.
