Thinking About Checking Out A Storage Auction? Do Shows Like Storage Wars & Auction Hunters Show A Realistic Storage Auction Experience?
If your reading this your probably thinking about checking out a storage auction. Maybe you’ve heard about them from a friend or maybe you’ve seen them on shows like Storage Wars and Auction Hunters.
Ever since these television shows have come out the crowds at storage auctions has exploded ten fold, actually probably about ten fold times five.
Prior to these shows coming out a large crowd would be ten guys. It wasn’t uncommon to go to auctions with 3-5 other people only.
The crowds have died down somewhat as the whole Storage Wars craze has faded, however crowds are still no-where near what they were a few years if not even just a few months ago.
If there’s a way to make money that’s going to bring people out of the woodwork and in combination with a drama filled reality show it’s going to bring out even more.
In the past it wasn’t uncommon to have a gentlemens agreement among the handful of guys at the auction saying something to the effect of “Hey guys let’s not run prices up on each other.” You would literally take turns buying great units for like $50.
Today however you will see any halfway decent unit going for $500 minimum. It’s not all that uncommon to see a whole household locker filled with furniture, electronics, bikes, lawnmowers, etc go into the thousands of dollars.
I think many people new to storage auctions watch the television shows and think because they show every unit containing gold, silver, or some precious antique or heirloom that auctions are really like that.
The truth is they are not. I have even seen some auctioneers state on their website that usually you are going to find average household stuff, pots, pans, clothes, old furniture. You can definitely find some treasures however they are few and far between. More often than not you are going to find household goods and will have to sell LOTS of small dollar items to make back your money as well as a profit.
Right after Storage Wars and Auction Hunters came out the crowds at auctions exploded. One auction in particular that comes to mind soon after the shows began airing was a PODS auction. The auction was on Christmas Eve so you would think maybe a thinner crowd. Over 300 people showed up and a POD containing 4 old mattresses sold for $1200.
Whoever bought that unit must think there’s a market for $300 plus used mattresses or was watching too many episodes of Storage Wars and thought the mattresses would be stuffed with gold or cash.
Can you make a buck buying storage units and re-selling the merchandise? Absolutely you can. Will you occasionally hit the jackpot and find some high value items in units? If you buy enough units odds are you probably will.
What you shouldn’t do however is go to auctions thinking it’s as easy as it is on Storage Wars. You are not going to find one high dollar item you’ll take to an “expert” and sell for thousands of dollars. More likely than not you’ll wind up with pots, pans, clothes, toys maybe a bike or some furniture and you’ll have to sell it on Craigs List, Ebay, go to Flea Markets, have a garage sale, etc.
If your thinking about attending a storage auction and have any questions leave a comment. If you’ve been attending auctions and have something to add as far as your best finds or what a typical unit contains we and our readers would love to hear from you, just leave a comment. And as always if you want more auctions posted for your city and or state leave a comment requesting the area you would like auctions posted for.
Good luck at the auctions!!!
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