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Old 12-24-2012, 05:17 PM   #1 (permalink)
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Default So I bought a Storage Unit at an Auction

So, I decided to take the fam to a storage unit auction down the road last wed. or thur. It was on a whim, kind of, but I just had to. I'm a sucker for the shows. My goal was to at least *bid* one time on something. I was not planning on buying anything. Mainly because:

1) I'm a newbie, and didn't expect to buy a unit until my 3-5th time.
2) We have limited garage space
3) How the heck are we going to transport it? That would be a lot of work.

So anyway, there were 11 units up for auction, or so, and 20 people there. It looked like there were not many newbies, so I thought I could learn quite a bit.

The auctioneer had a cowboy hat on, which was a plus, and a fast talker. That alone was enough for me to go

On our way, we saw a lady selling some things out of her unit, so my wife and I split off for a few minutes to see what she had. My wife has a good eye for kiddo things, so she went ahead and made a deal with a lady. She spent $80 with her, and it looks like we'll pull $250 profit out of it all!

Well, the next to last locker, I saw some things that I liked, and it was like a switch turned on from "I don't stand a chance...I'm just a rookie" to "Anything below $450 and this is MINE!"

Well, I got it for $375!!!! ;D

It took 2 trips to bring it all home, and it was exhilarating. I was careful, because I was told by someone that out of every 100 units you buy, generally, 99 are junk.

Well, this one was an awesome starter! 35 new Pampered Chef items, 29 new interior decorating items, tons of various kitchen things, some jewelry, 13 purses/bags (Coach, BeBe, and even some fake LV / Chanel), lots of toys, etc. Heck, even about $50 cash!

It took a lot ... and I mean a LOT of work to process through it all. I think my wife came close to pulling an all nighter going through things, and I had spent a few days just listing all the stuff.

As it sits now, we have pretty much everything listed online (or 99% at least?) and are $116 away from being in the black with the unit, and have toooonsss to go. Conservatively speaking, I'd say we have $600 cash profit, when all is said and done.
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Old 12-24-2012, 05:30 PM   #2 (permalink)
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Very cool. I've always wanted to do something like this!
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Old 12-24-2012, 05:33 PM   #3 (permalink)
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Congrats! So when can we expect to see you on the show?
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Old 12-24-2012, 05:35 PM   #4 (permalink)
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Congrats! So when can we expect to see you on the show?
Sadly, there were no cameras there but maybe when they come out with a "Storage Wars: Newbie Edition" I'll be on it LOL
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Old 12-24-2012, 06:30 PM   #5 (permalink)
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SWEEEEEEEEETTT!!!!
I love these stories!!
I do storage and car auctions every week so I can relate!!
You did great and went into it with the idea that you were not going to find a 150000 year old alien space craft worth 1billion dollars

If you had fun then thats half the battle!! Plus to make a nice profit = AWESOME!
The majority of money made is the cake (your 5,10,20,-100$ items) and every now and then you hit the frosting!
My first auction I bought 2 units for cheap and made some nice profit of 211$ but it took time and a ton of work as you stated and I did not find 10k behind a painting!!!

Out of the last 15 I have bought 2 have stuck out as the best and one of them was a military shipping crate that was loaded with reloading stuff and a SA 1911 .45
I kept all of it for myself but it was a decent buy for 500$. I mean the guy had everything from start to finish in a 6x8 container for reloading.. I never priced it out but I know I got it for a fraction of its worth!!
The other had a motorcycle in it worth about 3500$ but I paid 2000$ for the unit. It had some other junk but the motorcycle is what everyone saw and I thought hey why not!!

Keep us posted on when your going next and take some pictures!!!
GLTY!
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Old 12-24-2012, 06:35 PM   #6 (permalink)
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sounds like a lot of fun!
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Old 12-24-2012, 09:38 PM   #7 (permalink)
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Good job man. Always thought about doing this but figured it would be way too saturated with all of the shows causing randoms to think they'll make millions with it.
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Old 12-24-2012, 09:51 PM   #8 (permalink)
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Very nice. I had a friend who used to buy storage units for a living (or at least tried to). He said that once the shows came around, the prices became too high to make a decent profit.

Anyways, glad you enjoyed yourself!

Will you be going back for more, or is this just a one-time thing?
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Old 12-24-2012, 11:21 PM   #9 (permalink)
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Very nice. I had a friend who used to buy storage units for a living (or at least tried to). He said that once the shows came around, the prices became too high to make a decent profit.

Anyways, glad you enjoyed yourself!

Will you be going back for more, or is this just a one-time thing?
I can see us doing it again ... I just mainly need to move what we have though. I have a BOATLOAD of that stuff, as well as cards and comics and even a car to get rid of. Ideally, I'd like to have that stuff gone first.
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Old 12-24-2012, 11:24 PM   #10 (permalink)
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Sounds exciting, but more work than I'm up for.
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Old 12-24-2012, 11:33 PM   #11 (permalink)
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Sounds exciting, but more work than I'm up for.
I definitely need to figure out how to streamline it more. The way I see it, is, since I sell cards, it's like ... if I sell a $20 baby doll, that is like selling an 89 UD Griffey rookie ... and who doesn't love them an 89 UD Griffey rookie?
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Old 12-26-2012, 06:58 AM   #12 (permalink)
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I may want to get started doing this. However, its going to take some up front capital that I don't have. There are a few nice storage units in town, I don't know how often they go up for sale, but it may be worth trying! I know at one time my friend had his car inside the storage unit. So things could go crazy with those if one person decides to bail out.

I think I have to figure out how to make a profit selling cards & toys first and the rest will follow.
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Old 12-26-2012, 07:19 AM   #13 (permalink)
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Originally Posted by benshobbies View Post
I may want to get started doing this. However, its going to take some up front capital that I don't have. There are a few nice storage units in town, I don't know how often they go up for sale, but it may be worth trying! I know at one time my friend had his car inside the storage unit. So things could go crazy with those if one person decides to bail out.

I think I have to figure out how to make a profit selling cards & toys first and the rest will follow.
Only issue with the bolded part is that if the car is visible in the storage unit then for the most part you are only allowed to bid on the contents of the locker - the car. If the car is not visible then you still have to check the VIN number at the Department of Motor Vehicles to make sure it is clear before you may take possession of the car.

Edit- The only way an auctioneer will proceed with an auction of a locker containing a visible vehicle will be if the car has been previously checked for liens or pending lawsuits involving the vehicle. The 2nd sentence in my original comments still holds true.
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Old 12-26-2012, 08:56 AM   #14 (permalink)
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Awesome! Sounds like you had a damn good time, I bet it was a blast. Glad to hear you had some pretty good "beginner's luck " too, that never hurts. Soooo, when you going back again? You got the sickness now!
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Old 12-26-2012, 09:02 AM   #15 (permalink)
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Awesome! Sounds like you had a damn good time, I bet it was a blast. Glad to hear you had some pretty good "beginner's luck " too, that never hurts. Soooo, when you going back again? You got the sickness now!
Oh, it was an absolute blast - and something my wife and I could get into together. I think before we consider doing it again, we'll have to move a lot of stuff we have right now. I think someone is coming in and buying a bunch of stuff we have today (knock on wood) so we'll see!
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Old 12-26-2012, 09:59 AM   #16 (permalink)
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Is that Darrell bidding????
YYYYYYYUUUUUUUUUPPPPPPPPPPPPP!!!!!!!!!!!!!!!!!!!!
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Old 12-26-2012, 10:00 AM   #17 (permalink)
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That's awesome for you. I have gone to a bunch of storage auctions near my house. They usually have 3 to 4 up for auction and at least 50-100 people at everyone one. Seems like everyone that goes to the ones I go to think the tv show is real and try to be like them. People starting some auctions at $800 bids and they are small crappy units. I have never seen an auction end under $600. Every single unit is the same crappy one. Broken furniture, trash, used nasty mattress. I stopped going to them because they were just a huge waste of time. Guys from my work still go and he told me last week it's worse than ever now. He use to buy them before the show was on.
Good luck and hope you can keep doing good at them.
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Old 12-27-2012, 03:05 AM   #18 (permalink)
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My buddy just purchased Tai Streets (EX 49ers WR) Storage locker and I bought a bunch off him. Needless to say Ive made over $3,000 and still have a lot to sell including 40 brand new pairs of NIKE shoes. You can really profit!
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Old 12-27-2012, 09:46 AM   #19 (permalink)
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Wow awesome!
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Old 12-27-2012, 10:06 AM   #20 (permalink)
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Pics or it didnt happen....
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Old 12-27-2012, 10:25 AM   #21 (permalink)
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Pics or it didnt happen....


I can't very well back away from that now, can I?



This was our living room area the day we brought it all home. It doesn't look like as much, but here are several pics of what we got out of it:

New Document
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Old 12-27-2012, 10:42 AM   #22 (permalink)
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That sounds like a pretty good locker. How much did it cost him? I assume everyone knew it belonged to Tai, or was that discovered afterwards?

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My buddy just purchased Tai Streets (EX 49ers WR) Storage locker and I bought a bunch off him. Needless to say Ive made over $3,000 and still have a lot to sell including 40 brand new pairs of NIKE shoes. You can really profit!
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Old 12-27-2012, 11:02 AM   #23 (permalink)
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Good find!! Its a lot of work. When you factor in time, its hard to profit unless you do volume and get lucky!!

I personally want to get into the business. I want to buy storage lockers and fill them with junk and auction them off!! lol I put on the show, others take the gamble!!
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Old 12-27-2012, 07:41 PM   #24 (permalink)
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I've been doing this for about 4 months now. Love it. Bought 4 and paid $70, $170, $30 and a week ago my biggest $400. So far I've netted over $1k and have $5k inventory listed on various sites. It's alot of work researching, moving, cleaning, repairing etc but we love it. Little extra cash and find so many cool things to keep and things I've never seen. "Unsure what this is, but I own one now". We (wife and I) only hit the 2 closest to our house to cut down on moving time. I have access to a roll off trash bin and flatbeds and box trucks so that really helps. Looking into buying/making sheds as my garage is packed. I network with everyone I know so it helps when I see an item I know I can flip quick. Good Luck to you and have fun!
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Old 12-27-2012, 08:20 PM   #25 (permalink)
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The toys appear to be very clean and in good condition. I hope that you have a great time selling it all.


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I can't very well back away from that now, can I?



This was our living room area the day we brought it all home. It doesn't look like as much, but here are several pics of what we got out of it:

New Document
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