Storage Auctions - Myth Vs Reality

Storage Auctions - Myth Vs Reality

With so many keen hunter hunters floating to their local storage spaces hoping to pursue invaluable hidden treasures, its inevitable that some people will get their hopes as soon as the doors of the device fly up and the only thing that greets them is garbage bags and dirty clothes. Property managers across the country have struggled to handle an influx of bidders who have never even been to a storage facility before, as well as the jackpot expectations that these newcomers bring. From a management perspective, there are positive and negative aspects of this attention. More frequent incidents of property damage, arguments between inexperienced bidders and high volumes of conversations from search owners who do not intend to rent units are really irritations for managers and property owners.

On the plus side, increased foot traffic and the higher auction turn to higher end prices for storage auctions. Small repossessed lockers that can once sell for as little as $ 50 now live regularly up to $ 150. This trend is almost exclusively due to TV shows like Storage Wars and Auction Hunters, which suggests viewers a much higher frequency of jackpot- storage devices than actually exists. In the property of the boss, pedestrian traffic is always a good thing, as it means more exposure to the facility. Although the auction owners themselves do not rent any units, they can mention the possibility of friends, thereby spreading the brand and increasing the likelihood of future oral references.

Many newcomers to the world of storage auctions wonder why this particular sale also occurs in the first place. The answer to this question actually resembles a number of conspiracy theories that pop up on the internet in print that indicate that the delinquenta storage device auctions are completely built up. only product of a smart reality show effort to secure viewers. The truth of truth is that storage auctions have been around for a long time. Theyre real. The end of the story. Auctioning the contents of a criminal entity is the legal exploitation of self-contained property that is in an economic bond when a tenant abandons his belongings or simply refuses to pay his rent for months at a time.

What is not true is that every repossessed storage device that you see sold at auction will produce diamonds, jewelry, antiques, heritage and collectibles to thousands of thousands of dollars. This is just not how it works. Briefly consider the logical development of a storage device auction to decide how rare it is to find a storage device with lots of valuables and no garbage.

First of all, someone hires a storage device because they have belongings that they value high to secure and maintain them. They must have sufficient funds to cover registration fees together with at least the first months rent. Some storage spaces require a cleaning fee, and some facilities that do not offer month to month storage rentals require the new tenant to pay a few months in advance. This means that people who value valuables not only save enough money to initially get the value, but they also have enough money to cover the starting fees for their rental. We can conclude that, with the exception of an unforeseen disaster, most wealthy storage tenants will not be unpleasant enough fast to lose their valuables for a public auction.

Thats not to say it does not happen. There are countless scenarios that can even make the most organized and well-managed storage facilities the tenants who can not contact their property manager quickly enough to prevent their unit from being auctioned. Sometimes people are stuck abroad and lose all contact information for their facility and eventually lose their will and ability to keep their payments. These scenarios are much more likely to produce the types of reclaimed lockers that show that Storage Wars and Auction Kings need to produce their episodes.

What does this mean for the first storage devices that want to participate in the exciting world of storage auctions? Only the success of this business depends on determination, patience and keeping your expectations in control. If you always go out and plan to find your own private box with riches behind the next storage door, you will almost always be disappointed. But if you play smart, always buy low and sell everything you find inside through merchandise or auction sites, you can and will make a profit over time.


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