Lifestyles for Better Living

Storage Unit Auctions

Are you interested in joining a storage unit auction? If you are, you've come to the right place. The number of storage unit auctions being held around the country has increased tenfold over the last few years, and there is no better time than now to strike it rich using this adventurous business model.

If you have watched Storage Wars before, or even American Pickers, you know that there is a wide market out there for almost anything that you can find during an auction.

Whether you've stumbled upon baseball cards or antique furniture, someone, somewhere nearby is waiting for an offer to buy them. While the business process itself is not as easy as the reality TV shows depict, there is still real money to be made from storage unit auctions.

How it works

When a storage unit renter fails to pay his monthly fees, his unit is foreclosed on by the company and auctioned off to willing buyers. During a live auction, the manager opens the storage unit and shows the contents to all of the bidders.

This allows the bidders to calculate whether or not a storage unit is profitable. After showing the unit to the bidders, the auctioneer then opens the auction with a baseline bid (usually $10 or more), and the formal bidding commences.

People just say how much they are bidding. Usually, it only takes a few minutes for a storage unit auction to end. Unless there are more than a handful of bidders involved, units get sold fast. If you're competing against seasoned auction hunters, be prepared for bids as high as $4,000 for really profitable storage units.

Auction hunters make money from these storage units by having the items appraised before reselling them to specific niches or groups of people. Sometimes, auction hunters end up with a storage unit full of junk, but other times they end up with storage units filled to the brim with large appliances, barely-used furniture (that can easily be sold online), and a variety of other goods that can help the auction hunter recoup all of his investment.

If you are a beginner in 'urban treasure hunting', consider yourself extremely lucky if you were able to make $500 worth of profit from selling the goods that you've won. Other beginners aren't so lucky - some beginning auction hunters pay hundreds of dollars for multiple storage units that barely have enough high-value items to help recoup the capital used.

If you don't mind taking a risk with your hard-earned cash, and you can budget your capital well, you should definitely consider auction hunting. However, you should always keep in mind that storage unit auctions are not for people who want to get rich quick.

You need to have a lot of business sense too, so you can easily resell the contents of the storage unit/s you have won. Without good business sense, you stand to lose your profit margin or even your capital. So know your market and always keep an eye out for the auctions near the best areas in town!

For more information and help on storage unit auctions, get the Nook Book, "Storage Unit Auctions Beginner's Guide" at at Barns and Noble.

  You can also buy the PDF file from Paypal for $6.95

Back to Top