Finding Treasures In Storage Units
Every since the show Storage Wars hit the screen, the idea of finding a storage unit filled with unending and expensive goods has become a fascination of people across the nation. It’s been said that one person’s trash is another person’s treasure. That couldn’t be any more true when it comes to public storage unit auctions. The official term for this process is “lien sale,” which is what’s placed by a storage company when the owner of items in a unit doesn’t pay the rental bill.
Why Are Storage Units For Sale?
In many cases, it wasn’t just an oversight, but instead an inability to make the payment. There are different reasons why this situation occurs on a regular basis, but the easiest way to put it is that life happens. People lose their job, get divorced and pass away. While it isn’t something that we like to think about, it’s a reality that is true 100 percent of the time – at some point, we will all leave our stuff behind. Subsequently, storage auctions happen on a monthly and sometimes weekly basis.
Storage auctions are becoming increasingly more popular and attracting people from all walks of life. Approximately 75 percent of storage companies hold some kind of auction. Many participants consider it a hobby and others a side hustle. Let’s not forget the true storage auction enthusiasts who have made purchasing storage units their career, sometimes with great success.
Once the unit’s contents are up for sale, things tend to get exciting. You can find just about anything in a storage unit. From home goods to jewelry – the possibilities are endless. There are stories of people finding expensive watches, rare coins, antiques and other items that you can usually only dream about uncovering.
Storage auctions occur across the country, including any storage facilities westminster co. The key is to understand that not every unit will contain expensive stuff – it may just consist of basic household items that have very little value. Sometimes, the winning bidder doesn’t feel much like a winner if they dig through a small, dusty and dark storage space only to find relatively worthless items.
Can You Make Money At Storage Auctions?
Although nothing is a sure thing, the odds of finding what would be considered a good storage unit is in your favor. Those in the industry have estimated that the chances of finding something of value is 90 percent, which means there’s only a 10 percent chance that you will choose a unit that doesn’t have anything of value. Let’s keep in mind that “value” is subjective because what’s valuable to you may not be valuable to others. If it’s strictly a matter of the return on your investment, then that’s a different story.
Items obtained from a storage unit auction can be sold both on and offline these days. In addition to Goodwill, The Salvation Army and other physical locations where you can sell your stuff, there are now online platforms that allow you to post pictures of items for sale and ship them to the buyer.