Have you ever wondered what is behind all those doors up on the self storage lot?
People are storing their household and business possessions including such as antiques, collectibles, automobiles, military items, and many more things. These places are heaven for auction hunters because when these people dont pay their storage fees the contents of these units are sold at auction, often for a fraction of the value. The auction buyer can then resell them after small restorations, keeping a high margin of profit. These auction pros have found everything from coffins to the worlds most valuable book collection, furniture and jewelry, paying as little as ten dollars for items valued in the millions. Now a quiet and upscale retirement community in the US is the front line in the latest Storage Wars.
There are many junkyards that sell such old stuff, like bicycles, furniture and antique showpieces, you can buy them, correct them, make them look new and sell them in auctions too. You can follow some easy steps to ensure successful storage auction hunting!
1. Look for neatly labeled and stacked boxes. When the past tenant takes time to pack and label the contents, he or she must place value on the goods.
2. Look for a few items of value and base your bid on those.
3. Buy more than one storage unit for storage auction or self storage auction. This way you will dilute the risk and increase the chances of a big win.
4. Look at the neighborhood of the public storage facility - upscale neighborhoods often have units with higher value contents.
5. Avoid storage facilities offering free or $1 fee for the first month. They attract tenants who cant afford to pay. They dump their junk and a month later the facility has to get rid of it.
6. Dont get disheartened by a dusty unit since this indicates that it has been in storage for some time, and can often hold some interesting antiques or collectibles.
7. Craigs List and eBay are excellent ways to monetize your finds.