Storage unit auctions are becoming a popular activity for both fun and profit. But unless you have at least a little knowledge about the business of ‘buying units with the intent to sell’, or, you have a lot of luck, you may not enjoy the profits you expect. In fact, you might end up spending more money than you can ever make back in resells and in the process, you may find that you accumulate a lot of junk!
One thing you should know is that storage unit auctions are quite unpredictable. Because of that, it is advisable to bring lots of cash with you. Many facilities require that you pay a deposit of $25 - $100. This money is refunded after the storage unit is emptied and clean. In most cases you have 24 – 48 hours to tend to that detail. If you plan to buy a unit you should be prepared with a truck and help if necessary.
Self-storage unit auctions are advertised in local newspapers, classified ads, and online advertising listings. The auctions start promptly at the times listed in the ads, so always be on time. When you arrive you will be required to sign in. At that time you will be given an auction number.
When the units are opened for inspection you are allowed to look inside from the doorway. You cannot enter the unit and you cannot touch the items. Flashlights can be helpful in gaining better views of items ‘hiding in the dark’.
In general, units that have been stored for a longer period of time are considered to be more worthy of higher bids. The theory is, someone cared enough to pay for storage for ‘X’ amount of time so there must be something of value in the unit. In some cases the type of boxes and other storage containers in the units can give clues about what the unit may contain. However, be advised that the name on a box does not always indicate what the contents are.
Many people purchase units in the belief that they have bought something of great value only to find that the boxes contain old clothes, schools books that cannot be sold or other miscellaneous junk. In other words, they spend their money, they are required to clean out the unit quickly, and they cannot sell the items to recover the money they spent. Rather than simply accumulating more and more of this worthless rubbish, most storage unit auction ‘regulars’ do the smart thing and call the junk removal San Diego residents have made number one. They call 1-800-GOT-JUNK? This team of experts will recycle whatever possible and donate anything usable to local charities.
Brian Wesley recently started attending storage unit auctions. According to him, the auctions are fun and they are a great way to collect items for his flea market booths. However, Wesley cautions that it is easy to purchase units full of junk. In such cases he recommends calling the leading San Diego junk pickup service, 1-800-GOT-JUNK?.