self-storage auctions ?

[picassoface]

Anyone ever been to or bought at a Self Storage Auction ? I'm going to one on
the 23rd and am looking for tips.
I know you have to bring a flashlight and a lock. Anything else helpful ? Ever get
some good finds ? thanks...

 

[draggar]

I've been debating it - I'm sure wiht the economy many people have been abandoning them and maybe leaving some interesting things in them.

Do you have to pay any storage fees (1 month, 12 month contract, etc..)?

 

[Mike Cruz]

Down here in Florida, there is one, Draggar, you might be aware of it on 441 between Hollywood Blvd and Washington Street, they have them all the time, a few years back when I was moving into my new home, they had a auction. The guy who works there was telling me a little bit about it and had told me quite a interesting story about a auction that had previously took place.

Supposedly a lady won a unit for like $101 - when the unit was unlocked and inspected before releasing the items, they ended up finding $3.5 million dollars cash in different currencies including british pounds and USD, as well as 3 kilos of cocaine. Apparently the person who owned that unit was aware he was about to go to jail on some drug related charges and he went and paid for 5 years in advanced on the unit and stashed his goodies in there. He was killed in jail and he obviously never got out and no one else knew about that unit til the day of that auction. The money and cocaine was seized by the FBI.

Pretty shitty but crazy story.

 

[Gerry]

I did this years ago for several years. That was before everyone in the area became an "antique dealer" and drove prices up beyond resale value.

This was a great way to get some antique furniture and other collectibles that people stashed away.

I once bought an entire law library for a couple of bucks and sold it to a book dealer for a thousand or so. They were all leather bound, marblized paper, early 1800's.

The same with boxed lots. I paid a few dollars for box lots of early NC documents. There were receipts for slaves, land deeds, etc. Many going back to mid 1700's. I have made a few thousand dollars and still have thousands of these documents left and still to sell. A few very special and historical were donated to MESDA and other museums. One was a handwritten "copy" from 1810 (the only way to record legal documents back then) of the last will and testament for Joseph Winston, a hero and whom Winston NC was named for. I donated this to MESDA and they went nuts. Many items mentioned in the document was in their collection, especially his sword presented by the government for the battle of King's Mountain.

Also, that is how I amassed a few thousand 78 rpms records. I recall one I sold for $350 to a collector. It was Eyesight to the Blind by a group called Larks or Skylarks. Literally paid pennies for it.

You are going to be dealing with people who overpay for shit now, especially with that new series on TV coming out.

And remember that you are going to have to deal with mold, roaches, spiders and crap like that. I stayed away from all linens, garments, bedding, and all that crap.

The bottom line, you have to educate your self on values and valuations, know what something is truly worth, and have a ready buyer or market for it.

I have been an antique collector and dealer for over 30 years now and have become reknown for my knowledge on early southern pottery, furniture, and art (folk art and outsider art).

Good luck in your quest.

---------- Post added at 11:36 AM ---------- Previous post was at 11:35 AM ----------

Do you have to pay any storage fees (1 month, 12 month contract, etc..)?

No, locks are cut and contents sold. That is how the proprietor collects on back rent.

 

[Biggie]

check out


storage wars

 

[Gerry]

check out


storage wars

That is what is going to drive the frenzy. Years ago, this was a low attending auction venue that could really pay off big.

 

[Theo]

Maybe there are some valuable .com domains left in one of those abandoned storage facilities

 

[dmyre]

If you don't want to pay for the storage unit, you will need to bring a broom to clean out the room after all of the contents are removed.
I've never been, but my brother has gone a couple of times. He won 1000's of books for $10 because no one else bid on them.

 

[INFORG]

I agree with the advice of being careful on valuations. As someone who used to do this regularly, as well as estate auctions, and real estate tax sales, etc. There are way too many people driving up prices and it is tough to squeeze out any margin these days. You want to make some money flipping junk, check out "free cycling" sites and hit garage/yard sales, and thrift stores (although these are drying up on value too).

You can also hit flea markets and pass out some cards letting people know you want to buy bulk lots and dealer close-outs.

I wouldn't waste my time at storage unit auctions IMHO

 

[Theo]

If you don't want to pay for the storage unit, you will need to bring a broom to clean out the room after all of the contents are removed.
I've never been, but my brother has gone a couple of times. He won 1000's of books for $10 because no one else bid on them.

Anything worthy of reselling value? Other than trying to sell them on eBay later.

 

[dmyre]

He kept a few older books for himself, but was able to sell quite a few for a nice profit.

 

[Gerry]

I have hundreds (perhaps thousands) of civil war, war of 1812, slavery documents, maps. I have made thousands of dollars on these and still have thousands to be made. There is old currency, arrest warrants, etc printed in the first and second printing shops set up in NC (by their own marks), and other cool stuff - very decorative art adorned documents (people call them billheads). Tobacco invoices that sell for around $10 bucks each (thousands) and even some early new england whaling documents. All of these have been very well protected and preserved. Naturally, the slave stuff and confederate army stuff brings in big bucks.

Many I have kept and have had framed. Great and awesome decor items.

 

[Theo]

Nice, Doc. I think I'll frame my Network Solutions invoice for my first domain name

 

[H2FC]

I have many old original land grants and deeds of and around Atlanta/Marietta Ga. area....have no idea of value if any.....anyone know?

 

[south]

I have been to quite a few of them. All storage facilities do it differently.

The one I go to most gives you a few days to empty out the unit(s) you won. Usually, there is nothing in them but old paperwork. And you still have to empty the units, even if it's all trash. Also, it is often a sealed bid. You walk around the property, the maintenance person cuts the lock, and everyone looks in, but no-one is allowed to go in the unit, so it's a matter of guessing by what you see from the outside. After walking around looking, you submit a list of your bids in an envelope, then will receive a call the next day if you won any of them. Also, it can be governed by municipality as to how the auction is performed and how much notice needs to be given, etc.

And no, I have never found a good .com in a storage unit..

 

[dn-101]

I spent one day with a crew of old farts who drive their truck from one storage foreclosure to another. On a good day they can hit 3 storage facilities / 30 units.
They are all buddies, have a good time, drink beer non-stop. The biggest problem is finding where to take a leak. wiki?
Some folks specialise in furniture, some in art.
The downside of this biz is you become a white / black trash, a drunkard, you smell like a pig, and you life revolves around it. As a flipper you never make the top dollar. You need that freakin dollar to fix your rusty truck or to buy another six-pack.