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I've had something pretty much the same as that in my garage for almost 15 years now. Made it myself with a wooden 1"X3" frame hinged at one end. It doesn't retract on its own. Just nylon rope attached using several eye lag bolts and one small pulley and a cleat to tie off to. Just unhitched the rope on the cleat and lower the front of the frame. I have the rope knotted so it only lowers so far. Load rods onto the frame, then pull the rope to raise the frame up and out of the way. Then secure it to the cleat. It holds up to 15 rod/reel combos.
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