Self Storage Auctions
You have probably seem or heard of self storage auctions. This types of events are help at local self storage location to recapture revenue from nonpaying tenants. The show that started the wave was the hit show called: Storage Wars. From the first auction done in Los Angeles, CA
the A&E television show has increased the number of buyers who attend auctions. Many of this treasure hunters attend this events in hopes of scoring collectible treasures or vehicles to sell for profit. The increasing amount of people who attend this storage actions have save several storage providers from going out of business since they receive larger payouts for abandoned possessions at auctions.
There is profit to be made from auction units if you know how to pick them . Wayne Blair details how one auctioned unit, the buyer found $44,000 — of counterfeit bills with identical serial numbers. He also, explain how a 5×10 unit was sold for $195. Within the units, the buyer found vintage dolls, which the buyer sold for $4,100.
However, like all in life, there are always the negative and people who want to make money with our thinking of the consequences. History Hunters are not the only people who come out to this storage actions. Criminal minds come out of the woodwork as well to make profit.
The way they scam the process of self storage actions if by renting a storage unit, and fill it with trash-filled, misleadingly labeled boxes. Then, they will stop paying for the unit and avoid phone calls from the storage provider , thus making the unit go for auctions. The misleading labels and the amount of stuff inside the storage unit is to excite buyers so they’ll bid more cash at auction and the scam orchestrator will profit from the payout leftover, after the facility takes what was owed on the unit.
Blair advices to try to buy an older person’s unit if you seek treasures to resell. If you see a plasma TV and computer boxes, as anyone can obtain these from the Dumpster outside of Best Buy, it is probably a scam
