Storage Unit Auctions A How To Guide For Beginners

Storage Unit Auctions A How To Guide For Beginners

There seems to be a lot more interest these days in storage unit actions due in large part to a number of TV shows which have hit the airwaves over the past couple years; namely “Auction Hunters” on Spike TV and “Storage Wars” on A&E. This new found interest has introduced waves of new people to the treasure hunting potential of storage unit auctions.

This new found interest though does not come without a price. In some instances, for many people, the price can be steep. Most all new comers to storage unit auctions are getting involved with no idea of what they’re doing or how to successfully bid on an abandoned storage locker.

Those new to the game seem to think that they can blindly attend storage unit auctions, bid some amount of money on an abandoned locker and uncover a rare Picaso painting. These folks new to the storage unit auctions game find out the hard way that there are far many more abandoned storage lockers out there filled with junk than with anything of even modest value (let alone the rare Picaso painting).

Is there really value to be found at storage unit auctions?

Storage Unit Auctions

Although I really do enjoy the show, I think “Auction Hunters” on Spike TV is, in large part, responsible for these delusions of grandeur. This program in particular shows only the rosiest side of storage unit auctions. Never have I seen an episode where the show’s two stars – Clinton “Ton” Jones and Alan Haff – get stuck with a worthless unit. The only thing you ever see are these two gents consistently uncovering rare and valuable collectibles – every time, every episode.

You will never see the dark side of storage unit auctions on this particular show. Anybody who watches Auction Hunters is lead to believe that every abandoned storage locker put up for sale is a homerun of collectibles. I can even recall watching an episode where Alan Haff even commented that 80% of the value they find comes from 20% off the lockers they buy at storage unit auctions.

But, alas, on the show you will only see the 20% good lockers; never the 80% worthless ones. Storage Wars on the other hand is at least a show steeped in reality. It shows the good, bad and ugly sides of storage unit auctions.

How can you find success with storage unit auctions?

OK, so enough about TV drama. Let’s now talk about how you can be a successful storage unit auctions treasure hunter.

The first thing I would caution you against is attending storage unit auctions as a motivated buyer. I see it all the time these days. As somebody who has been attending storage unit auctions for 6 years now I see so many new faces who are overly eager to buy a unit just for the sake of buying a unit.

Rather than using some investigative tactics to try and develop a determination of value, they’ll blindly buy a unit thinking it will be a homerun because TV shows make the game look so incredibly easy. When, in fact, blind buying is the fastest way to lose hundreds and hundreds of dollars. And who these days can afford to lose their money?

I am happy to say that after getting my butt kicked at storage unit auctions when I first started attending them, I’ve developed quite an eye for spotting the clues of good value. Do I still buy my share of dud storage lockers? Of course! But, now when I attend storage unit auctions my bidding and buying decisions are far more focused which has translated into treasure hunting success.