I am sure you watched the new TV show Storage Wars. It runs on A&E on Wednesday evenings at 10:30.
Since it started airing a few months ago, it exploded the interest in Self Storage Auctions.
The show features four groups of storage auction buyers. They are professionals and make their living from buying items at these auctions at a bargain price and reselling them at a profit.
Part of the drama behind the show is the storage auction process and the bidding wars the players engage in. It seems the pro always gets the rookie to pay too much for a unit full of junk.
Every episode has a Revelation! There’s always a hidden treasure in one of the units.
This treasure is usually worth 10 or 20 times what they paid for the storage locker. It gets viewers excited, as they discover a antique baseball card collection, shrunken heads or an antique flare gun collection.
We received a lot of calls at Westbelt Storage since the show started. Most of the callers are asking about our next storage auction. Unfortunately, we really don’t have that many auctions going on. In my article on How Storage Auctions Work you can learn more about the auction process.
You are probably wondering: Is this real? Are there hidden gems in storage units?
Truth be told, you can find treasures in storage lockers.
The other truth is that you will collect a lot of junk and trash.
When you bid at a self storage auction and buy a storage locker, you buy everything that’s in the unit. So be prepared to haul its contents to a place where you can sort through the items you purchased. Often, a self storage facility will rent the unit to you for a month, so you won’t have to take it home and fill up your garage.
Professional buyers have their own warehouses, where they can spread out everything they acquire and pick the useful items from the trash. They also have access to a dumpster to dispose of the junk.
If you are lucky, you may find the treasure you’ve been hunting for. That’s when you should locate an antiques dealer or specialist who can give you a reliable valuation of the items and advise you on the best way to turn them into cash.