What is fueling this new phenomena? How come people all over the country, including those who have never even set foot on a self storage facility before, are all streaming into their local storage auctions as quickly as they can, hoping to get a piece of the action? Many property managers and facility owners are credited the new smash hit reality shows Storage Wars and Auction Kings with this newfound surge of public interest. Meanwhile, storage auctions themselves combine the possibility and exhilaration of a treasure hunt with the surprise profits of a traveling antique roadshow. The combination has been extremely compelling for all the families and lone auction hunters that have turned out to storage auctions across the country in the last few months, hoping to capitalize on what has for years been a relatively quiet and understated affair.
Why Storage Auctions Happen
Selling off storage units via public auction is actually the last resort of a self storage company that has been trying, unsuccessfully, for months to get their delinquent tenant to pay up on their monthly rental bill. After incurring 3 months worth of financial damages through non-payment, a storage company may choose to exercise their legal right to enforce their lien on the goods of the late tenant and ultimately sell them at auction in hopes of raising some of the money they are owed.
Storage Auction Rags and Riches
So just how lucky can a buyer get at a local storage auction? It’s entirely up to the fates and the type of person that was storing their things in the repossessed storage shed before they fell behind on their rent. Some lucky auction buyers have won mega-valuable collections of vintage baseball cards. Some auction hunters have walked away with truckloads of high quality professional grade tools, to either keep for themselves or resell for profit. Some auction buyers have found less than spectacular spoils in the units they’ve won, but nevertheless manage to turn their winnings into profit by determinedly reselling them either online or via consecutive yard sales.
Why People Attend Storage Auctions
What this tells us is that these modern day treasure hunts can be whatever you want them to be. If you’re just looking for a new and different way to start off your upcoming weekend, you can visit a local storage auction and try your hand at some competitive bidding. If you are looking for a great way to find some deeply discounted tools you need for business, think about checking out the storage auctions held by facilities that are frequented by a lot of handymen. If you want to start your own eBay business but you’re not sure where to find your inventory, look no further than a quick treasure hunt at your neighborhood’s storage facility.