Red Flags To Look For At An Auction

The storage door rolls open and immediately you know you want this unit. Brand name boxes galore - everything from Sony and Pottery Barn to Ralph Lauren shoe boxes. But take a second look before you assume you just made this months rent.

Given the recent interest in storage auctions, it's no surprise that the frequency of scams has increased. We've already warned you about staged units and pilfered lockers, but you also need to beware of tenant scams. Recall that when a unit sells for more than the amount owed to the storage facility any additional money goes to the tenant. On occasion, a tenant may allow a unit to go delinquent to make a profit.

If the tenant simply abandons the unit to allow it to go to auction, you as a bidder are not in danger. But if someone collected brand name boxes, and deliberately placed them in a unit to generate higher bids, then you'll overpay for a unit full of empty boxes.

We don't mean to suggest that this is the norm, but it does happen. Here's a few tips to help you avoid tenant scams.

#1 Scrutinize every unit. Don't be dazzled by brand name boxes - always consider whether the unit looks natural. Are all the brand names facing you so you can easily read them? Is there anything to indicate the boxes have anything inside of them? Does the unit look too clean to be a genuine storage unit? Too empty to justify the cost of paying monthly rent?

#2 Find out how long the unit has been rented. If the unit was only rented three or four months ago (just long enough for the unit to end up at auction) then bells should go off.

#3 Find out how much delinquent rent is due. If the rent due is $500 but the unit would likely only go for $500 or less, it's not likely a tenant scam because the tenant won't make any money. On the other hand, if the tenant got their first month free or for $1, then their delinquent rent might only be $100 and they could make an easy (albeit unethical) $400.

Storage Unit Auction Fraud

Is There Fraud Committed At Storage Unit Auctions?

Unfortunately, the answer is yes. The popularity of the shows on television has driven the crowds numbers through the roof. In fact, on a recent episode of Storage Wars, the star bidders on the show professed their irritation of all the "newbies" who are running up the bids on the lockers. So when you have an explosion of popularity in one particular niche like storage auctions and money is involved, then it is only a matter of time before fraud sets in.

So you may be asking yourself, where is fraud being done. I myself have witnessed it first hand but lets cover a few points of interest before I tell my experience in witnessing some unscrupulous actions. Here are some things to look for when attending an auction at storage unit facilities.

• Check out the lock on the unit. Try to get a look at the lock before it is cut off of the unit. Is it brand new or a little rusty? Is there even a lock on it or has the storage facility cut the lock and put some sort of temporary seal or wire tab lock on it.
  
  
• When the unit is opened do you see any dust? If not, this could be a sign that the unit has had recent visitors. Dust tends to collect quickly and if a unit is 2 or 3 months in default it will probably show dust on furniture or boxes.
  
  
• Are there strange interactions between a bidder and an auctioneer? Watch between auctions if there is close up talk between an auctioneer and bidder. Remember the auctioneer usually gets 10% of the final bid. If the plant bidder runs up the bid its more money in their pocket. If for some reason it backfires on them and they win, they can default and the next lowest bidder wins. It's a win - win situation for the auctioneer.
  
  
• Is the auction a real abandoned locker or is it staged? This is becoming a problem in some states and will probably only get worse. Recently, an ex-employee of a storage unit said his boss wanted to get in on the latest craze. He would put miscellaneous items like abandoned furniture, mattresses and boxes of junk and then have auctions for these created delinquent storage lockers. He could sell the units contents and pass the responsibility of removing the items to the "winner". 
  
  
• Do you see any open boxes? Most people who are truly storing their belongings will tape the boxes shut. Leaving boxes open would expose the contents to roaches, silverfish and rats. If you see open boxes then they have probably been sorted through by the tenant, who is taking the valuables out or the management. Probably a sign that only junk remains in the unit.

Do you need to attend Storage Auction School? Click Here to find out more. 

Please keep in mind that most of the storage unit facilities are running legitimate auctions with trustworthy auctioneers. We are not implying they are all deceitful crooks who are out to rip you off. However, the fact remains that fraud does exist and will probably get worse as these shows continue to gain viewers. The best way to prevent being scammed is to educate yourself on what to look for before bidding on an auction. I personally have had success in the business but have had just as many failures.

I mentioned a personal experience earlier here that made me a little suspicious of an auction I was attending. I was going to video the auction process in order to share my experience with my readers and to post on my YouTube channel. As soon as the auctioneer spotted me videoing, she yelled through her megaphone to cease recording or she would have me removed. I turned the video recording off so I could continue to attempt to buy a unit or two that day.

As I tried to bid on the first unit she ignored me. At the next unit I saw her speaking to what I consider a plant bidder. They conversed before each auction and I knew I was witnessing a game plan being devised. I decided these auctions were probably rigged and predetermined so I just sat back and watched. The bidder would stand near her and bid up the unit. Once he hit what he thought was a high enough bid, he would disappear into the crowd. The other reason I believe he was a plant was he would never even look at the unit when it was opened. If I am going to spend $800.00 or more on a unit, I'm going to check it very carefully.

I hope these tips help and always make sure you are smarter than the average person at these auctions. Remember, if you don't arm yourself with knowledge, you have no one to blame but yourself. Get the knowledge you need to succeed. 

Just Click On The Picture Above To Start Your Training Today

 

Article written and republished with permission by Charles Myers

Storage Auction Wars?

Everyone pretty much knows what a self storage unit or facility is and most people also know what an auction is. What is not commonly known however is that self storage and auctions actually have more in common than most people think.

Auctions are very popular with people who are either looking to pick things up for a steal or with people who are looking to find items worth of value, such as antiques, jewelry or electronics. The majority of people think about public auctions, auction houses, estate auctions and online auction websites when they are looking to find what they need.

Due to a recent hit television show however, self storage auctions are a growing trend both offline and online. How self storage auctions work is pretty interesting and is outlined below:

• Items that are contained in a self storage unit are put up for auction when the person who owns the belongings have quit paying the storage fee. How long a person has to be in default before the self storage company can put the items up for auction really depends on the state that the storage unit is located in as laws vary.

•  Once it is determined that the items within the storage unit are eligible to be put up for auction, a date and time is set for the auction, which is normally open to the public.
  
• On the date of the auction and at the predetermined time, the door to the self storage unit will be opened and those who are interested in the contents can look into the unit from the outside but they are not allowed to actually go into the unit.
  
• Viewers and interested buyers are only allowed to try to guess what the contents of the storage shed are worth by peering in and trying to see the stuff that is in plain view.

Self storage auctions are becoming a quick growing business opportunity on many different levels. On one level, storage facilities are realizing that they have a way to re-coup the lost income from the person who rented the unit if they decide to quit paying. Those who are in the business of buying stuff at auction and then turning around and selling the items for profits are also catching into this trend and taking advantage of it.

Another industry however that is also catching on is businesses on the Internet. The self storage auction trend is hitting the radars of those who provide information online in the form of instructions and "how to" guides as well.

Are you looking to use mini storage auctions as a way to make money? If so, will this be your first time attending an auction? If yes, please continue reading on for a few helpful and important tips, which can help you walk away happy.

Public storage auctions are a great way to make money. Depending on the auction in question, you either bid on sealed bins or whole storage bays. You are essentially making a wholesale purchase. You are offering to pay one set amount for a lot of merchandise. This is where you can make money, as some of those items may be valuable or sellable.

Despite the fact that you can make money with mini storage auctions, doing so can be risky. A wide range of items are stored inside these units. These items may include clothing, furniture, books, movies, toys, home décor, household appliances, and jewelry. There are also people who store their old financial documents and family photographs. You don't always get to physically inspect everything, so there is some risk involved.

As previously stated, you may not get to physically inspect all items up for auction, but you can get a close look. For that reason, arrive early. You should arrive no later than ten minutes before a public storage auction is scheduled to start.

When scanning a storage bay that has merchandise available for sale, look for large items that are easy to see, like furniture. What type are they? Are they modern, cheap, or antique looking? This can help you guess as to what else is inside. Cheap furniture, like furniture that looks like it came from Wal-Mart, may be a sign that the rest of the items are cheap as well. Of course, cheap doesn't necessarily mean poor in quality.

If you intend to bid, as opposed to just watching how an auction works, bring cash. Most only accept it. Rarely, will you find an auction where credit cards and checks are accepted. Do not plan on running to the bank real quick, as you may be required to make payment right away. Speaking of attending an auction as a viewer, you may want to do so. This will give you a firsthand look at how these auctions operate.

It is also important to know that public storage auctions can be canceled and sometimes at the last minute. If you are traveling far, like an hour or more, to attend an auction, call ahead. Call right before you leave.

Those with unpaid storage bills are likely to make good on their payment once they realize their belongings really will be sold. This may result in the cancellation of a scheduled auction.

Storage auctions are popular. Many people see them as a cheap way to get stuff for their homes and many more see them as a way to make money. That is why you will want to arrive early. You also need to be prepared to shout out your bids and face some competition. If you are shy or nervous about doing so, bring someone along who isn't. This is key to walking away a winner at a mini storage auction.

Finally, know that not all storage auctions are worth your time. You will want to call ahead and ask questions, like how much is being auctioned off. If only one or two storage bays are up for auction, you can still attend, but you may not want to travel far too do so. Your travel expenses may be too high and not worth it in the end.

As previously stated, public storage auctions are a great way to make money, but there is some risk involved. You will not always drive away with a truck filled with valuables that can be resold for a huge profit. However, the more storage auctions you attend and the more bids you place, the better your chances are for walking away with a profit.

Mistakes To Avoid at a Storage Auction

Mistakes Cost You Time and Money - Learn What Not To Do

Do you want to use mini storage auctions as a way to make money?  If so, money is made with the reselling of merchandise won at an auction.  How you resell your merchandise can have an impact on your profits, but your biggest potential for making money starts at mini storage auctions.  To increase your chances of making money, avoid these common mistakes.

Traveling too far.  It is said that the more storage unit auctions you attend, the better your chances are for making a profit.  Yes, this is true, but you shouldn't have to travel two or more hours to attend these auctions, unless you know they will be large in size.  With the high cost of gasoline, you may find the best luck staying local.  The good news is that if you live in a large city, you may hear of a different mini storage auction taking place every weekend!

Arriving late.  If you seriously want to make money with mini storage auctions, arrive early.  At the very least, arrive ten minutes before the auction is scheduled to start.  Although you may not be able to inspect the items up for bid, you can still improve your chances of getting a sale.  You can scout out the competition.

Not asking questions.  Not asking questions is something that can hurt you.  As previously stated, only travel two hours or more to attend auctions that are large in size.  Unfortunately, you may not know without first asking.  Also, call ahead to verify that the auction has not been cancelled.  Ask what the accepted methods of payment are and how the bidding process works.  Are you bidding on sealed storage bins or whole storage bays?

Bidding too high on blind bids.  As previously stated, you may either bid on a sealed bin or a whole storage bay.  Many times, the units are opened, giving you a quick look inside.  When it comes to closed storage units or sealed bins, bid, but keep the risk in mind.  While most storage units are packed full, some may only hold one box in the corner.  This is particularly true if the renters had the chance to remove items before the auction.

Not bringing a flashlight.  If the storage units you are bidding on will be opened, you may be granted a quick peek inside.  This peek may only last 10 seconds.  So, bring a flashlight so that you can see. 

Not knowing what to look for.  If you want to make money with mini storage auctions, it is important to know what you can profit from reselling.  You are always taking a gamble, but you can make that gamble less risky.  Furniture and household appliances are good items to resell and they are easy to spot.  Look for name brand products.  Look for boxes that are labeled with their destinations, like kitchen, bedroom, or living room.

Thinking you will get rich right away.  Since mini storage auctions do rely on a lot of luck, there is a possibility that you will make a profit with your first auction, but that doesn't always happen.  Remember, the more items you buy, the better your chances of making a profit are.  If you lose money the first time around, know you can make a huge profit the next time.

Pros And Cons of Storage Unit Auctions

It's a Tough Business - Are You Up For The Task?

Are you interested in making money with mini storage auctions?  If so, you are not alone.  Many individuals are finding the buying and reselling of goods bought at these auctions to be a relatively easy way to make money.  But, is it the right opportunity for you?

Mini storage auctions are increasing in frequency.  This has a lot do with the economy today.  Many are forced to leave their big homes and relocate to a smaller home or an apartment.  This often results in the renting of a storage unit.  Unfortunately, the economy is also making it harder for renters to stay up-to-date on their bills.  As sad as this is, it does mean more self-storage auctions for you to profit from.  Depending on where you reside, you may be able to attend a different public storage auction every weekend!

It is, however, important to state that there is some risk involved with mini storage auctions.  Why?  Because you don't always get to see what you are bidding on.  Many times, you just get to peek inside the unit from outside the door.  That is why it is recommended that you bring a flashlight.  Yes, you may walk away with valuable jewelry or antique furniture that you can resell for a profit, but you may also walk away with family mementos.

Despite the possibility of a risk, there is a good chance that you can make a profit.  Many make around $1,000 for each storage unit that they purchase.  Remember that your goal is to make a profit, so even if you make only $200, you still made money.  On that same note, some lucky bidders have seen profits as high as $50,000 or more.  So, how do you become one of those lucky bidders?  Through trial and error.

As previously stated, mini storage auctions can be risky, as you don't always get to see or inspect what you are bidding on.  You can, however, use your best judgment and look for telltale signs.  Bring a flashlight with you and look inside real quick. You may only have a few seconds to do so, but look for items that are large in size, like furniture or household appliances.  These items can almost always be resold.  Look for boxes with moving company names or logos. 

Another pro or plus side to using self-storage auctions to make a profit is the reselling options that you have.  You can list your items for sale on an online classified website, like Craigslist.org, sell on an online bidding site, like eBay.com, rent a table a flea market, or host your own hard sale.  As for what option is the best, it depends on what you have to sell.  Large items, such as furniture and home appliances, can be costly and difficult to ship, so you may see the best luck selling them locally. 

If you have never attended a mini storage auction before, you may want to see what one is like.  Even if you don't plan on bidding, be sure to have cash on hand.  While watching the action, you may spot an antique out of the corner of your eye that no one else seems to notice.  Attending a self-storage auction just as a bystander can give the needed confidence to start bidding at the next auction. 

Yard Sales and Storage Auctions

Making Money With Storage Units And Yard Sales

Do you want to make money with the buying and reselling of merchandise found at mini storage auctions?  If so, you need to find a great way to resell your purchases.  While you do have a number of different choices, you may find hosting a yard sale to be your best option.

Before outlining how you can use a yard sale as a way to profit from merchandise bought at self-storage auctions, it is important to focus on those items.  When bidding at a storage auction, you are urged to use your best judgment.  Do not place a huge bid when you do not know what is inside.  If you can catch a glance at the items up for bid, look for name brand products, household appliances, antiques, and furniture.

Hosting a yard sale is recommended when you have many items to sell.  One table of sellable items may not be worth your time.  If you buy a storage unit that packed to capacity or if you purchase the contents of multiple bays, a yard sale will be worth the time and energy.  Also, remember that you can add your own unwanted personal items to the sale.

When looking to make a profit reselling merchandise, you are urged to limit your business expenses. After all, the less you spend, the more money you make.  This is true, but yard sales rely heavily on advertising.  If you do not live in a heavily populated or a well-trafficked area, no one will know that you are having a sale.  That is why advertising is important.

As for how you should advertise your yard sale, visit Craigslist.org.  There, you can place a free advertisement online, just find the closest city to make your posting.  Buy advertising space in your local newspaper.  Most have a section just for yard sales.  This will cost money, but it will be more than worth it.  Always include your full address, the date and time of the yard sale, as well as a sample of what you have for sale.  On the day of your sale, hang bright colored signs with your address or rely on arrows.

When using yard sales to resell items bought at a mini storage auction, keep your asking price affordable.  Yes, you want to make a profit, but remember that people visit yard sales to find the best deals.  That is why you are urged to have a lot of items on hand.  The good news is that if you buy the contents of a whole storage unit, as opposed to a few closed bins, you should get a lot of things to sell.

Before preparing for your yard sale, one step you will want to take is using the internet.  Do you have any items that look like they could be valuable or antique?  You can use eBay.com to see.  Perform a completed auction search of each item.  If it sells online for more than what you would make at the yard sale, pull it from your sale pile.  Do not expect to get full price for antiques at a yard sale.  Instead, sell them online or contact an antique dealer.

Before your sale, start labeling all items for sale.  Blank yard sale stickers are available for sale at most dollar stores and office supply stores.  Pricing your items is important, as not all shoppers stop and ask for price information.  If some don't see prices listed, they will just move onto the next sale.

The day before your sale, visit your local bank.  Ask for change.  If you get buyers who stop because they saw your sale when driving by, they may not have small bills.  Be sure to have plenty of dollar bills and quarters on hand.  Keep your money in a well-secured location.

The day of your sale, start laying out items for sale.  Group similar items together.  For example, did you get a couple of boxes of movies, toys, and books?  Make sure all books appear together, and so forth.  Clothes can be folded on a table or hung from makeshift racks.  Never lay items flat on the ground, especially if you have other options.

How Craigslist Can Help You If You Win

Making Money With Storage Auctions And Craigslist

Are you looking for a relatively easy way to make money with the buying and reselling of goods?  Your first thought may be to attend neighborhood yard sales, but there is an even better option.  That option is attending mini storage auctions.  At these auctions, you tend to get more merchandise for your money.

If you want to make money with the buying and reselling of merchandise, you need to find a profitable method of reselling.  You do have a number of different options, including eBay, yard sales, and flea markets.  One option that you may want to pay close attention to is that of Craigslist.

If you are an avid internet user, you may have heard of Craigslist before.  If not, it is a free online classified website.  A wide range of information is posted, including job want ads and garage sales, but you can also list items available for sale.  The website is divided into separate sections for cities.

To make a profit with the buying and reselling of self-storage auction units, you need to limit your expenses.  This starts at the auction.  Do not bid high unless you are sure you are getting valuables.  Next, limit your expenses when trying to resell the items.  This is why Craigslist is recommended.  As previously stated, it is a free online classified website.  This means that you do not have to pay to list your items for sale, unlike the popular online bidding website eBay.

If you perform a search on the Craigslist.org website, you will find that many people are selling merchandise without posting pictures.  Do not do this.  If you have a digital camera or even if you must borrow one, use it.  Classified ads with pictures are likely to generate more interest, which increases your chances of making a sale.  Before taking any pictures, be sure to clean the item in question.

On Craigslist, you can post classified ads without having an account.  You are encouraged to signup for one anyways.  When you do so, those interested in buying your merchandise can contact you through the website.  This is ideal if you don't want your personal information, such as your email address or phone number listed online.

Since classified advertisements are free to post on Craigslist, you will want to create a listing for each item that you have.  This is important as you will be able to create a unique headline.  You don't want your headline to be something general like "a lot of items for sale."  Instead, write "1999 push lawnmower – works great." 

Although you are encouraged to create separate postings for each item that you want to sell, there are a few benefits to grouping similar items in lots.  For example, did you end up buying a box full of DVDs?  Instead of listing those DVDs for sale individually, sell them together in one lot.  This works great if the movies share similar themes, such as all action and adventure.

Grouping items together in lots can also reduce the amount of merchandise you throw away or donate to charity.  Do you have a collection of kid's clothes with sizes between 3T and 5T?  If you have a mixture of name brand and off brand clothing pieces, you may consider donating the unknown brands, but you don't have to.  Sell them altogether.  As long as you have a few name brands in the group, everything should sell.

When listing merchandise you purchased at a mini storage auction on Craigslist, it is important to choose an easy method of contact.  If you opt to be contacted through the website, be sure to check your email.  Have an answering machine turned on if you provided your phone number and will not be home.

Finally, decide on a method of delivery or pickup.  State this in your listings.  You can deliver products to your buyer, but keep the cost of gasoline in mind.  Don't let unnecessary travel expenses prevent you from profiting from the buying and reselling of public storage auctions.

Flea Markets and Storage Auction Secrets

Make Money With Storage Auctions And Flea Markets

Do you want to profit from the buying and reselling of merchandise sold at mini storage auctions?  If so, you need to choose a method of resale.  If you have customer service experience and many quality items to sell, you may want to sell at a flea market.

If you want to make money with selling mini storage auction merchandise at a flea market, proceed with caution.  Remember, your goal is to make money, not lose it.  You must rent a table or space at a flea market.  Some organizers charge very high fees.  Depending on what you have for sale, flea markets may not be worth your time or your money.

Speaking of what you have for sale, know how to buy valuables and resellable items at mini storage auctions.  If you can inspect bins or storage units beforehand, do so.  If not, look for signs or use your best judgment.  A storage unit filled with moving boxes and furniture may be the sign of two households that consolidated into one.  Household goods can be resold for a profit.  Also, look for name brand products and antiques.

Returning back to selling at a flea market, see what is available.  If you live in a large city or town, you may have multiple flea markets to choose from.  Before making your choice, visit them.  Which flea markets receive the most traffic or are open the longest?  Then, examine dealer fees.  You do want to keep your costs down, but keep quality in mind.  A flea market that receives more traffic is worth a higher dealer fee.

In keeping with location, if your local flea markets are not popular, you may want to examine those in the nearest large city.  You may have to pay higher dealer fees, but the increased traffic may be worth it.  Do you have a large van or truck that you can use to transport your goods?  If so, consider this as an option.  If you cannot find a decent flea market, remember that you can sell your mini storage auction merchandise online or host your own yard sale at home.

As for dealer fees, see what options you have.  Can you purchase a selling spot for only one weekend, a month, or the whole year?  If you intend to use mini storage auctions to your full advantage, like by traveling to attend them and buying as much as possible, a long term rental is recommended.  The longer you rent a space at a flea market, the bigger discount you should receive.

It is also important to get as much information as possible.  If the flea market organizers have a website, visit it.  If not, call or ask questions in person.  It is not uncommon for some organizers to limit what can be sold.  Upscale flea markets do not want to appear as if they are one big yard sale.  In these instances, it may be common to find secondhand clothing prohibited.  Before paying a dealer fee or signing a contract, make sure you can sell what you have.

When pricing your items, it is recommended that you first do research online.  Make sure you don't have any valuables.  Yes, you can still sell valuables and antiques at a flea market, but know their worth.  As for the rest of your merchandise, keep your eye on making a profit.  Remember what you paid for the merchandise, as well as your dealer fee.  Make sure you walk away with a profit, even if you must slightly raise the price.

As for why flea markets are considered a better method of reselling, it has to do with sales.  Those shopping at flea markets expect to find a good deal, but not deep discounted items like the ones sold at yard sales.  This allows you to reasonably set your prices higher.  Shoppers also visit flea markets with the intent to buy, as a shopper may have to pay an admission fee.  This, alone, increases your chance of making multiple sales.

Sellling Your Storage Auction Merchandise

Tips For Reselling Mini Store Auction Winnings

Do you want to make money with the buying and reselling of items purchased at a mini storage auction?  If so, you need to know what you are doing.  Many people rely on trial and error.  Yes, you can do this or you can continue reading on for a few helpful tips.

The first step in profiting from mini storage auctions starts at the auctions themselves.  When possible, bid low.  This increases your chances of making a profit.  The less you spend, the larger your profits will be.  Next, be on the lookout for items you can profit from.  The tricky part is that some items are stored in boxes, making it impossible to see what you are bidding on.  That is why you are encouraged to keep your bids as low as possible.

The key to making a profit with the buying and reselling of merchandise is to buy it in the wrong market and sell it in the right.  Mini storage auctions are considered the wrong market, but this is in your favor.  Why?  Because you tend to walk away with a better deal.  You are essentially paying a wholesale price for multiple items.  As for the right market, this is where you stand to make the most money.  By choosing the best method of resale, you can make the biggest profit.

So, which method of resale is the most profitable?  It depends on what you have to sell.  Due to their size, furniture and large household appliances are best when sold locally.  When selling locally, you can rent a table at a flea market, host a yard sale, or post a for sale listing on Craigslist.org.  Yard sales are nice, as you can sell all of your items at once, but many people expect to find deeply discounted merchandise.

Items that are smaller can be sold online.  One of the best markets for doing so is eBay.com.  When you sell on eBay, someone from across the country can buy from you.  Smaller items are recommended for reselling online, as they are easier and cheaper to ship.  It is also recommended that you sell valuables online, as you stand a better chance of their full value.

Speaking of valuables, there are some items that you may wish to have appraised.  Be on the lookout for dealers who appraise your items low and then offer to buy them.  This is a common scam that you do not want to fall victim to.  If this happens to you, you may have a very profitable item on your hands.  Why?  Because true dealers do not purchase junk. 

When reselling merchandise you bought at a mini storage auction, it is usually recommend that you clean that item.  For example, if you get a box full of clothes, you may want to wash them first.  You may want to wipe DVD packages clean before selling them.  You will want to be careful with antiques though.  Their age and the history behind them are what makes them valuable.  Not only do you wash away history when cleaning them, but you may also damage the product.  With antiques, it is best to let the buyer decide what they want to do.

In short, there are many ways for you to make money with mini storage auctions.  To improve your chances of making a profit, buy as much as you can. 

Making Money On Storage Auctions

How To Walk Away Making Money

Have you heard that you can make money with mini storage auctions?  You can.
 
Unfortunately, doing so can be tricky.

Before outlining ways that you can walk away from a storage unit auction making a profit, it is important to highlight the risk.  Unlike estate auctions, do you not get to see or inspect the items beforehand.  In many cases, you are bidding blindly.  If you want to profit from storage unit auctions, you need items that you can resell.  You may, however, walk away with a bin filled with someone else's family photographs.

Despite being somewhat risky, there is still a good chance that you can make money buying merchandise at storage unit auctions.  The first step is choosing the right auction.

Most companies will outline online or in a newspaper classified ad how the auction will work.  Do you bid on whole storage units or just sealed bins?  Whole storage unit auctions are popular and they tend to have higher bids.  Of course, you can and should visit all mini storage auctions, but if you are limited on funds, you may find the best luck with individual bins.

If you are bidding on whole storage units, take a close look.  This involves arriving about ten or twenty minutes before the auction is slated to start.  Although you cannot get right inside, you can gauge the merchandise.  Unfortunately, many small and valuable items, like jewelry, are sealed in boxes or bins.  With that said, there are still a number of signs that the contents inside may be profitable.

Is the storage unit packed to capacity?  You may be surprised how many items some people can stuff into small storage units.  While these types of units can be difficult to get a look inside, they are popular.  Those packed to capacity will generally end with a high bid, but your chances of making money increase.  The more items inside, the better the chance are that some are sellable for a profit.     Next, look for boxes.  If you can see them from the outside, closely examine them.  Do any boxes appear as if they have been opened and resealed multiple times?  If so, this is a sign of something that is needed, like insurance documents or family photographs.  These items are not profitable to you; they are essentially worthless.  In fact, you may be required to turn them into the auction officials.

In keeping with storage boxes, are they labeled?  If so, can you read what they say?  Be on the lookout for moving boxes.  They usually have the name or logo of a moving company.  They may hold household items, which can be easy to resell for a profit.

It is common to find furniture inside a self-storage unit.  After all, most people can store a few boxes at their home or in their basement.  Those who rent storage units need a place to store items large in size.  These items, unless packed to capacity, should be visible.  The furniture alone can give you a generalized bid amount, but use your best judgment.

Yes, it is advised that you never judge a book by its cover, but this is what you should do when looking to profit from mini storage auctions.  What does the visible furniture look like?  Is it antique, modern, or cheap looking?  Antique looking furniture may be a sign of a family heirlooms passed down, some of which can be valuable.  Cheap looking furniture may be the sign of a frugal shopping. Yes, frugal shoppers do own valuables, but your chances of making a profit decrease when quality does.

The above mentioned tips can help to get you started with buying items from a storage unit auction.  Remember your main goal is to make money, but you don't always have control over doing so.  In all honesty, making money through these auctions is all about consistency and trail and error.

What Can I Find at a Storage Auction

What You May Find At Mini Storage Auctions

Do you want to start making money with mini storage auctions?  If so, you may be curious as to how the whole process works. 

When looking to profit from mini storage auctions, you place a bid.  As for what you are bidding on, it depends.  You may bid on a sealed storage bin or a whole storage unit.  Different companies host different types of auctions.  To profit, you take the items you bought and resell them.  Since you are, essentially making a wholesale purchase and paying one fee for many items, there is the potential to make money.

One common question asked is "how much money can I make?"  It does depend on how much you spend at a mini storage auction.  The less money you spend, the more you can make.  It also depends on your resale methods, as some are more successful than others.  Many use Craigslist.org, flea markets, and yard sales to sell locally.  As for selling online, many use eBay.com.  What you buy can also impact your profits, as some items are more valuable than others are.

Since what you buy at a mini storage auction may have an impact on your profits, you may be wondering what is available for sale.  It depends.  People use mini storage units for a wide range of purposes.  Some use them when consolidating two homes into one.  Others use them to store household items when they relocate to a smaller place.  Storage units are also used to house items that people no longer need, but still want to hold onto, such as family heirlooms or financial documents.

Despite the possibility of a variance, depending on the storage unit in question, there are some items you are likely to find at a mini storage auction.

Furniture.  Furniture is nice because it is easy to spot.  Unfortunately, you don't always get to see or inspect merchandise up for bid, but furniture can be seen from far away.  Look for furniture that is antique in nature, as it worth more.  With that said, furniture is something that people need; therefore, it can be resold for a profit.

Home decor.  Home decor often makes it way to mini storage units.  Some homeowners change their decor on a yearly basis, but may not want to part with their old pictures and paintings.  Home decor can be antique or cheap, but it will always resell. 

Home appliances.  Home appliances, such as microwaves, dishwashers, blenders, and toasters can be found at mini storage auctions.  As with the above mentioned items, these are considered great.  Everyone needs these items in their homes.  This means that they will resell, especially at a yard sale. 

Children's items.  It is common to find kid's clothes, books, and toys in a storage unit and at an auction.  This is because these are items that kids outgrow.  As for why they are saved, some parents just don't want to part with these items.  Many hold onto them just in case they decide to have another child.  Yard sale and eBay are popular resell markets for kid's toys, movies, books, and clothes.

The above mentioned items are just a few of the many that you may find at a mini storage auction.  In fact, you can find just about anything ranging from antiques to jewelry to clothes to family photographs.  The key is buying merchandise that you can resell for a profit.

How To Be Succesful At The Auctions

Dos And Don'ts For Mini Storage Auctions

If you want to start making money with the buying and reselling of self-storage auctions, it is important to know what you are doing.  Yes, you can make a profit with mini storage auctions, but there is always a risk involved.  To help make sure you see a profit, please continue reading on for a few helpful tips.

DON"T go unprepared.  If a phone number is provided call ahead of time to see what you need.  Most likely, cash will be the only accepted method of payment.  Ask if you can arrive early to look around.  Know if you have to pay a fee to participate in the auction.

DO anticipate on winning a storage unit auction, even if you do not.  This is important, as you usually have 24 to 48 hours to remove all items.  For that reason, it may be best to arrive with a truck or a van. At the very least, bring a padlock to secure the unit until you are able to return.

DON"T try to buy back your belongings at a mini storage auction.  If you are behind on your bill and find that your items are being sold, talk to the owner right away.  Some will cancel the auction up to a few hours before if you are willing to pay your overdue bill.

DON"T bid too high on sealed bins or closed storage units.  Yes, you may walk away with a lot of valuables, but you may also walk away with nothing more than family photographs and personal documents.  Even if you can't look around, you should be able to take a quick peek inside a storage unit from outside the door.


Do You Want To Succeed At Your Next Auction? Click Here To Find Out How

DO look for signs that you have hit the jackpot.  This can also give you a good bid idea of how much to bid.  Look for storage units that are packed full, filled with home appliances, furniture, name brand products, and antiques.

DON"T bid high just to win.  Unfortunately, it is easy to get caught up in the moment at mini storage auctions.  Yes, losing to a higher bidder does stink, but don't let the competitive environment cause you to lose money.  Remember, there is always next time.

DO try to resell what you can.  If you must, get creative.  Do you have a lot of poor quality or stained clothes?  Cut up the clothes to create scraps for sewing.  Sell them by the boxful.  Do you have a broken piece of furniture?  Try to fix it before opting to throw it away.

DON"T pay to dispose of items you can give away for free or donate to a charity.  Remember your main goal is to make a profit.  This involves limiting your expenses, including trash removal costs.

DO know that you have a number of different reselling methods.  Hosting a yard sale may be your first idea, but that is not your only option.  Many successfully use yard sales, flea markets, online classified ads, newspaper classified ads, and eBay to make a profit from the buying and reselling of self-storage auction merchandise and you can too.

DON"T give up if you have a bad experience the first time around.  Did you pay $100 only to learn that nothing can be resold for a profit?  If so, don't let that stop you from bidding at mini storage auctions.  To see the most profits, it is all about consistency.

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Understanding The Storage Auction Process

How A Storage Auction Works

If you haven't been to a live auction before, the prospect of going to your first storage auction might seem a little intimidating. Not to worry! Storage auctions are very straightforward, and you'll quickly get the hang of it. Just be prepared to use a little observation to get a feel for the process and how to identify profitable units to buy.

The Auction Process

Be sure to arrive 10 or 15 minutes early so you have time to sign-in as a bidder with the auctioneer. Bring a photo ID, as many auctioneers will require this of all bidders. The auctioneer will gather the bidders and explain the auction procedure and ground rules to everyone. Then the first unit is opened and the bidders will have a few minutes to peer into it--without going inside--before the bidding begins. Most storage auctions are conducted as “live” or “verbal” auctions, although a very few are “silent”, sealed-bid auctions.


In a verbal auction, the auctioneer will usually start speaking quickly in “auctioneer speak” and looking and listening to the crowd to find out who wants to bid. The auctioneer will call out a price and ask if there are any takers. You can gesture affirmatively to the auctioneer if you want to make a bid at that price. If there's a lot of action, you can call out a higher bid. Once the bidding settles down, the auctioneer will say “going once… going twice…,” and if there are no further bids, “SOLD!”


Once the bidding is complete, if you've won the unit, you must secure it with your own padlock. The auction then moves on to the next unit at the facility. Once all the auctions are complete, you'll meet with the auctioneer to pay for your units and complete the auction paperwork. The storage facility will typically collect a cleaning deposit from you, which they will return when you have emptied the storage locker and left it broom-swept so that it is ready to be rented to a new tenant. You will not be permitted to use the facility's dumpsters, so be prepared to haul away and dispose of anything that you don't want!


Often, an auctioneer will sell units at several different facilities in the same area on one day. After each facility's auction is completed, usually the bidders will follow the auctioneer to the next facility. A “roving auction” like this may start in the morning and continue until mid-afternoon, with dozens of units being sold.

Finding The Auctions

Surprisingly, it's not always easy to find out when these auctions are happening. Only a few storage companies and auctioneers post their auction schedules on the Web, and many of these web sites can only be found if you know exactly what you're looking for! The storage company is usually required to place out a public notice of the auction in a local paper, so you could read through those every day in every paper and write them all down on your calendar. Or you could get out your phone book and call all the storage businesses in town every month to ask them when they're holding the next auction.

An Easier Way

As you can see, if you live somewhere where there are a lot of storage facilities, it's a lot of work to keep up to date with all the auctions. That's where we come in. At StorageAuction.net, we have the most comprehensive listings of storage auctions anywhere on the Internet. And all you need to do to access them is sign up for a free account! We keep records on thousands of storage facilities and are constantly updating our database of upcoming storage auctions. With StorageAuction.net, you'll always know when the next auction is!

How Can I Make Money With Storage Auctions

Storage Auctions - How To Win and Make Money Today

Author: Charles Myers

What is a Mini Storage Auction for Quick Cash? A mini storage auction is one of the best kept secrets in today's marketplace for making vast amounts of money without spending much time or effort. Of course, it does take some knowhow, but it is an earning possibility that just about anybody can master in a short period of time. To be able to earn money from a mini storage auction, however, you first need to know what it is.

A mini storage auction begins at the storage unit facility. This is a place where people can keep their things while they don't have anywhere else to put them. The customers for these places are assigned a unit which is locked with a key, and they pay a monthly fee for the use of the space. However, when a customer fails to pay his or her bill for a long enough time, the potential for the mini storage auction begins.

The owner of the storage facility has upheld his or her end of the bargain by keeping the customer's unit safe and secure, but if the customer doesn't pay for a certain length of time, then the agreement (signed by the customer when the unit was rented) states that the customer will receive a warning that the bill must be paid by a certain date, or the contents will be sold to try to recover what is owed.

Should the customer still fail to pay, the mini storage auction is set to begin. The mini storage auction is a completely legal process and occurs only when the storage facility owner has followed certain clear regulations. For example, after the final warning, the customer has to be given at least two more weeks to come up with the money before a mini storage auction can take place.

Then, the mini storage auction is advertised so that people can decide to participate. On the day of the mini storage auction, it's a good idea to arrive early so that you can have the opportunity to have a good look at the contents before placing a bid. The contents are not sold individually, but are sold as a complete unit - if you buy one thing, you've bought it all.

The highest bidder at a storage auction then wins the contents of the unit in question, and once that amount has been paid, he or she must remove those contents within the following 24 to 48 hours. The contents could be just about anything, from items that are completely useless to anyone but the original owner, to some real treasures. It's important to know the difference between the two, and to know what to do with them once you've purchased them.

For that, make sure to download your copy of Mini Storage Auction Riches today, and start profiting from the next mini storage auction tomorrow.

Article Source: http://www.articlesbase.com/collecting-articles/storage-auctions-how-to-win-and-make-money-today-4214513.html

About the Author
Charles Myers is an online marketing expert that can show you the hottest money making products that make money and how to use them to profit like never before. Download his hot new money making manual right now and get the low down on how easy and fun it is to make extra money on your weekends. Grab your free copy at:

Mini Storage Auction Riches

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Thanks for visiting our site and for Sams sake please look around. We are updating the site as we speak so more free information, secrets and videos are coming soon. Our goal is to provide our visitors with as many options as we can to educate you on how to break into this business with out going broke.

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Storage Auction Riches Helpful Tips

Secrets To Buy Storage Locker Bins Like The Pros

Storage unit auctions were a well-kept secret within the resale community for many years before A&E aired the reality television show Storage Wars. Millions of viewers tune in each week to watch entrepreneurs try to outbid each other on bins full from wall to ceiling of miscellaneous items. Often, the bidders will win with a bid less than $300, only to find an antique in the unit that’s worth double what they paid for the entire bin.

The reality is anyone can profit from these storage auctions. All it takes is some start up cash to bid on the units, a vehicle with a trailer to haul the stuff away from the facility, a mode to resell the items and the ability to find the auctions when they turn up. Fortunately, there are solutions that make the endless hassle of locating the auctions more viable.

This guide will walk you through the steps of preparing yourself for storage unit auctions. It will go over a number of topics and common questions for prospective bin buyers. 

About Storage Auctions

Self-storage auctions occur when an individual stops paying rent on their unit. After a certain amount of times goes by without payment, the contents of the defaulted bin become the property of the storage facility. The auction is an unfortunate result in the eyes of most storage facility owners, but it becomes essential to recover their losses. They attempt to contact the default leaser to no avail, and have no choice but to sell his/her stuff to vacate the bin for future use. Storage unit auctions are increasingly more common with the current state of the economy. Most storage facilities prefer to sell all the contents of the bin at once, because they are trying to recover the value of the backed rent, get the bin cleared, and ready to lease.

Bin auctions are the bread and butter for professional storage bin buyers. The bids normally don’t exceed a few hundred dollars and the contents of the bin could potentially be worth way more. Some storage facilities prefer to break up the bin’s contents piece by piece, and sell them individually. The vast majority of storage auctions are bin auctions, for the convenience of the facility’s owner and in attempt to quickly clear the unit for re-leasing. In most cases, better deals can be found at bin auctions, but you shouldn’t completely rule out piece auctions. Fewer people may show up for piece auctions with the mentality that they won’t make enough profit from won items, which would increase your chances of winning an item on a low bid.

Every state has different laws pertaining to storage auctions. Some states allow the bidders to physically enter the unit to get a better look at their prospective buys. Other states won’t even allow the auctioneer or facility owner to open the bin until bidding starts. Knowing the storage laws for the states you will be working is crucial for success in the auction-hunting world. Some websites list the different state laws pertaining to storage unit auctions. Every state also has different laws pertaining to advertising storage auctions. Many require that the seller or facility manager notify the public two weeks before the auction.

What to expect at a storage auction

Storage unit auctions are largely the same as other types of auctions. Bidding normally begins at a firm time, but it is always smart to arrive early. Expect a larger number of people bidding than in the past. The popularity of A&E’s Storage Wars and SpikeTV’s Auction Hunters has caused more people to embrace this unique career opportunity. It is important to be methodical and develop an efficient system to beat out the rest. Developing a system for bidding is crucial to your success as a bin buyer.

Depending on state law, the owner of the facility or the auctioneer may allow you to view the inside of the bin before the bidding starts. Normally, this allows you to see the bigger items stored in the bin, but not the stuff packed in boxes. There are two main formats when it comes to storage unit auctions. Some facilities prefer to use the traditional method of auctioning, when bidders shout their highest bid until someone goes higher than anyone is willing to part with. Another common auction format is the silent auction, where bidders seal their written offers for the bin and the winner is announced once all the bins have been processed. With experience, you will develop strategies for either scenario. If you win, you are usually given a set amount of time to remove the contents from the bin. If you fail to remove it in time, the owner of the facility reserves the right to remove it themselves. Always read the terms of service and any other disclaimers before an auction starts.

Most storage facilities will accept cash from the winning bidder. One major mistake some people make is not bringing enough cash to win an auction. Typically, specifically with the bigger storage companies, several bins will be for sale in a given day. Spending all your cash on the first few auctions could force you to miss something very valuable in the last auction. 

When it comes to resale goods, people are always looking for a great deal. If you can win good auctions for 

an appropriate amount of money, you can definitely turn a profit.

Deciding whether or not to bid

Depending on local and state laws, bidders may or may not be able to see all or any of the unit before the auction. This leaves a lot of guesswork for the bidder on whether or not to bid. A majority of the states allow bidders to inspect the bin from the front door before the auction starts. In this case, you should look for anything on the higher-end. For example, if you don’t normally deal in furniture, but see an antique or high quality chest of drawers, it increases the likelihood that other items of value will be in the bin. If you see nothing but boxes of paper (a common occurrence), then you may want to rethink bidding at all because it’s likely that the bin is full of worthless records of some kind.

Boxes are normally the biggest mystery during a storage auction. Within boxes could be literally anything that fits in that particular box. The box could contain jewelry, antique housewares, old antique advertisements… the possibilities are endless. Most bin buyers rely on the quality of the bigger, unboxed stuff, to determine how high they are willing to bid during the auction.

Remember to bid at your own risk. There is always a chance that you will end up losing money on a storage bin. Be methodical abut calculating risk and always make sure you can profit off the transaction. The resale industry is known for having relatively high profit margins, but one mistake can end up costing you hundreds of dollars. Before bidding, consider overhead costs such as time, transit of goods and the price you paid for the unit. 

Ask yourself these important questions: 

1.) How and where can I sell these items? 

2.) How much can I sell this stuff for? 

3.) Is the profit worth all the hassle involved in winning the auction? 

Where to sell my stuff?

So you won a storage bin and now have enough stuff to fill a 10x10 storage bin. Where do you go from there? Free advertising is the best advertising. Try to sell what you can on sites like Craigslist, or post in local newspaper ads. If you have items to big and valuable to be shipped from a location and require an onsite pick-up, Craigslist will probably to be your best bet.

Ebay has become the go-to auction place to sell literally anything, for any price. As long as the buyer is willing to pay shipping and you can afford Ebay’s listing prices, Ebay will be your best friend. Keep in mind, however, that Ebay is fairly competitive. Your ads need to look clean and professional, or people won’t trust you enough to buy from you. There are a number of books and services that teach you all the ins and outs of using Ebay. If you have never used Ebay before, I highly recommend one of those resources.

A strategy many in the resale industry adopt is specialization. Some resellers specialize in industrial equipment, while others are interested in art. Typical categories include antiques, clothing, appliances and home electronic equipment. Bins will usually contain a hodgepodge of miscellaneous items, and rarely cater to a specialized field. It may be wise to build a network of people specializing in other areas of resale, so you can rely on them to buy your goods, even if they can only buy them at a cheaper price. By building such a network, these same resellers may come to you with great deals on items they don’t have the knowledge to sell. Our primary focus was in recording and audio equipment, but everyone has different interests. Choose a specialization that you know about. It’s the best way to ensure profit. 

Research

Research is a critical step in planning your storage unit bidding. Many people go to storage unit auctions and leave disappointed. Sometimes, the bins up for auction contain nothing of value, and the prospective bidder has wasted their time driving to an auction with no sellable items. An even worse scenario is when a bidder goes to an undesirable auction and pays way more than the resale value of the bin’s contents. You can avoid these unfortunate mishaps by simply doing basic internet research.

An important factor in deciding whether or not an auction is worth your time and money depends on the storage unit’s location. Research the median household income of any region that a prospective storage auction takes place. Focusing on territories with higher median household incomes will always yield better results, because the residents of that territory have more freedom to buy higher valued things.

www.citydata.com is an excellent tool for those that bid on storage bins. You must always remember that the items found at storage unit auctions were bought and forsaken by someone else, so collecting data on the storage facility’s area is always a good idea. By simply typing in the city and state of a particular storage auction, you can obtain valuable information on the people that use the storage facility. It doesn’t take long to collect the necessary information to make an informed decision. Avoid areas with lower than average annual income, and you will be less likely to waste time and money going to auctions that will not yield a profit. 

You can also get “heat maps” of certain areas, with different colors signifying income level. These tools can help you visualize where the real money and best auctions are located, and can help you plan a trip if you want to buy bins from multiple auctions. www.hotpads.com is a website that allows you to search for apartments given certain searchable criteria. We have found through experience that their heat map is very comprehensive and especially useful if we are planning on going to multiple auctions in a short period of time.

To use their income level heat map, simply click on the map in the center of their home page. Type the city, county or state you are researching in the search field. Move your mouse over the “heat map” option in the upper left hand corner of the map, and a list will drop. Select “household income” or “per capita income;” either of these options will give you an idea of the wealth of a particular area. The map will take a second to load, but once it loads, the different zones should be color coordinated, ranging from blue to red. Red indicates a high income territory, while blue indicates a low income territory. See the color map legend in the bottom left hand corner of your screen. You can also add city, state or county labels by moving your mouse over the “Area Labels” section and selecting the desired area label.

Locating auctions

Locating auctions in an area can be a huge hassle. First, you need to create a list of all the self-storage facilities in a given area, including addresses and working phone numbers. After that, you have to sit there and manually call each facility in a given area and ask the manager for the time and date of the auction. Keeping track of all the auctions in an area can get overwhelming, because there are so many facilities and auctions to keep track of.

www.StorageAuctionRiches is a great resource for professional and amateur resellers alike. We provide a list of storage unit auctions going on in any given state, nationwide. We provide the self-storage facility’s name, phone number and street address. We also provide the date and time the auction is taking place. 

Storage Wars Expert Gives Advice On Finding Hidden Treasure

Darrell Sheets of 'Storage Wars' Gives Advice on Hunting for Hidden Treasure

America has become obsessed with turning trash into treasure. Witness the burgeoning treasure hunting genre that started with 'Antiques Roadshow' and now includes 'American Pickers,' 'Pawn Stars,' 'Auction Kings,' 'Auction Hunters' and A&E's latest hit, 'Storage Wars.' 

While each show takes a different angle, they all essentially feature real-life people looking to uncover the jewels hidden among junk (theirs or someone else's) and make money off of it.

'Storage Wars,' which focuses on four men who bid on defaulted storage lockers, premiered last month to 2 million viewers, making it the cable network's best unscripted debut in 2010. The show's gotten so much buzz that it has spurred such interest in the world of storage auctions that the number of bidders has sometimes quadrupled, according to show star Darrell Sheets.

I spoke to Sheets recently about the newbies in his field, how to determine whether a locker contains valuable items and why he keeps making big bets.

The show has gotten a lot of buzz. What's the reaction been like from people you know?
Seriously, it's been out of control. This whole thing has developed this underground culture and all of these people are coming out of the woodwork. I can't believe it.

Now, you've been doing this since you were a kid, right?
Well, [since] about 20 years old.

How did you get into it?
Well, what happened was, I had a landscaping business, taking care of shopping centers and I wasn't doing it the right way, I guess, because they let me go. Two days later, I went back to him and said, "I want my job back, I'll do a better job." He said, "No, I want to show you something different that I really think you're going to enjoy."

So on the show, you're labeled The Gambler. Do you think you take bigger risks than other bidders?
I know I do. A lot of these people buy a storage locker and go one locker at a time if they win or lose. What I do, I do it by the month. In other words, if I start the month off with $25,000 and end up with $20,000, I've had a losing month. If I start out with $25,000 and end up with $40,000, I had a great month. So I'll gamble on a lot of lockers based on something I see in there, but if I don't like it I'll just give the locker away.

When you first see a locker, and you don't know everything that's in it, how do you figure out whether you're going to bid on it and how much you're going to bid? How would you describe your process?
My philosophy is if I want it, I get it. There are circumstances sometimes that don't allow you be that way, but when they first cut the lock off and open the door, there are a lot of things I look for.

Are there cobwebs along the doorjambs? Are the boxes covered with dust? Are there footprints going into the locker -- which would tell you someone had been and out of there recently. Is the lock on the door rusty? Or is it a new lock? If it's rusty, it's been in there a long time. Did they pay a mover good money to move that in there? That usually means they have good stuff. If you pay to move your stuff, it's good stuff.

So the older the stuff looks to be, the more it might be worth?
That tells me more or less what I term "virgin stuff." If there are a lot of footprints and the dust is all moved and everything, that tells me that someone had been going in and out of there and maybe they were using it as sub-storage. If it's all boxed up and dusty and all the furniture is wrapped up, you can tell no one has been there in a long time.

You've been doing this for a long time now. What keeps you at it? 
All it takes a good hit and you're addicted. When you buy something for $3,000 and turn it into $100,000 that's like an addict chasing the high. I've tasted about 20 really, really good lockers in my life and I love that feeling. And the only way I can describe it to you -- and it's good that it's this time of year where you'll understand this -- remember when you were 12 years old and mom and dad had all the presents ready and it was Christmas Eve and you're laying down to go to sleep and you're all warm and fuzzy and you couldn't wait to wake up and have at it? It's the exact same feeling every time I buy a locker. I have all these boxes to dig through.

Have you ever had a string of bad lockers where you say, 'I can't do this anymore'?
I never say I can't do this anymore, but I've gone six months without getting a good locker. But this thing goes in tides, you go up and down like the tide in the ocean. It's a numbers game. If you buy 100 of them, one of a 100 is going to stick. You really have to remember that and know that it's going to happen.

The show focuses on four bidders but I assume there are more out there. How big is this field?
This industry is a lot bigger than people think it is, I'll tell you that. Since the show started, we've gone from 40 to 50 people at an auction to 300 people at an auction. It's now, every guy or woman that's been out of work, sitting on the couch going, "What am I going to do now?" They watch this show and they can literally get up tomorrow morning and go do this.

I just had a girl email me that said, "Darryl, I watched the show and I thought you guys were full of crap. We live in Pennsylvania, my husband and I went out to a locker, an auction, we bought a locker for $25. It was full of all these old wooden boxes. My husband didn't want it, but I had this feeling. We opened it up and it was the entire contents of the General Mills estate from the late 1800s." And she's flabbergasted, she signed it at the end, in big letters, "This really is the wow factor." It made me feel so good that somebody got something like that out of this.

But now you're having to compete against a lot more people.
Here's the deal with that. That's the No. 1 question. They're like, "You opened up your field of business, you're telling them everything about you." I've had 32 years of experience that you can't go buy in school, that you can't get that experience anywhere except through trial and tribulation.

And when I see new people out there and they're going to act like idiots or jerks, trust me when I tell you this -- they're not going to get to buy anything. The veterans are going to run them out of business and help them spend their money so quick, they're going to wonder what they just did. It'll be worse than the penny stocks, believe me when I tell you that.

Do you have advice for somebody who sees the show and think they could do what you do?
I have the best advice you could possibly get. When you go to these auctions, don't stand around and tell everyone that you're new. Have your flashlight and your lock and your cash ready to go, and just act like you've done it a hundred times. Because if you're new, they're going to run you out. If you stand there and act like you know what you're doing, you're going to be right in there with the veterans.

What's your relationship with the other bidders? Are you all friends or is there a lot of competition and jealousy?
When we go there, before the auction, we have 20 minutes where we're all standing around calling each other names, making fun of each other. That is actually our entertainment. When the bidding starts, there is no love. It's 'Storage Wars,' not 'Storage Making Love' and it goes off. What you see is really the way it is. The minute the bidding stops, we're all buddies, we'll go get lunch. It's the weirdest thing I've seen in my life.

Me personally, if a guy that's been in the business gets a really good locker and I hear about it, I'm pissed off for about 30, 40 minutes but after that everything is cool ... But that's what makes me want to go out there and get a good locker right along with him.

There are a lot of shows about people taking what seems to be junk and seeing if they can make a treasure out of it. Why do you think there seems to be a rise in popularity with these shows?
I call it the modern day gold rush. Everybody wants to go out and find something that's worth money. That's what makes the whole world run -- money. Once again, somebody could be sitting there watching this and say, "Hey, I might go find the treasure. I might be able to change my whole life by finding that treasure." I think that, and personally, the way our show keeps score, people have somebody to root for ... [there are] a few different elements that really make this work.

What can we expect from the rest of the season? Is there anything we can look forward to?
Yeah, there is. We just finished shooting 12 days in Las Vegas. There were some big hits. Obviously I can't tell you what the big hits were, but it's going to be a lot of fun. Good old Dave the Mogul, he's going to get a little taste of his own medicine here.

I had no idea this world existed!
I'll leave you with this, Kelly, this is something no one's ever asked me or I got to tell them about through all my interviews. This job has also allowed me to take every summer of my life off. I work really hard all winter, I put my money away, and every summer I take off and buy a house on the river, a boat in the harbor, something like that.

If you know how to work it, this can be a great lifestyle. You're in complete control of what's going on. But in the winter it's 7 days a week, 17 hours a day.

 Storage Auction Riches Ask - "What Treasures Could There Be In These Lockers?"