Storage Locker Auctions

One of the fastest growing segments of the reality show television genre is the treasure hunter scenario. Years ago, we only had Antiques Roadshow to show us how we could make a lot of money by discovering unknown treasures in forgotten places. Now, some of the hottest shows on television cover teams of treasure hunters discovering valuable items in abandoned storage bins sold at auction.

Storage bin auctions have been around for decades, but in the last ten years or so they have become big business. When a person stops paying the rental bill on a storage bin, the storage facility places a lien on the contents. If the owner doesn’t pay up, the facility hires an auctioneer to auction off the contents. The auctioneer gets a percentage of the auction price, the facility gets the rest and the winning bidders gets the contents of the bin or locker.

Storage bins can contain anything from the contents of an apartment to a collection of antiques. That’s where the treasure hunting aspect comes in. For every locker filled with useless kitchen goods, there may be another one containing rare and vintage items worth thousands of dollars. It’s all a gamble and the payoffs can be huge.

If you’d like to take a chance on this treasure hunt, the first thing you need to figure out is how to find storage auctions. Check online to find all the storage facilities within driving distance of your home. Give each facility a call and ask when they plan to hold the next auction. Every facility has them, it’s simply a matter of finding out the dates.

Subscribe to your local newspapers and check the classified ads. Most storage facilities post ads announcing upcoming storage auctions, to entice as many bidders as possible. Many local papers have copies online, so check neighboring city’s ads to find auctions within driving distance.

Contact storage facilities in your area and ask if you can be put on a mailing list for their newsletter or auction notification system. Many of them are advertising in a major way, and are eager to inform the public about upcoming auctions any way they can.

Talk to other bidders when you arrive at an auction. Many of them are cagey and won’t give out their secrets, but some are friendly and may tell you how to find storage auctions you may not otherwise find.