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Geri's
Column
Prime
Time for Seniors Newspaper
Storage Unit
Auctions – Beginner’s Guide (Part Two)
(February,
2012)
Going, going, gone! The storage unit auctioneer points to me
and says, "Sold for $100.00!" The other bidders shook
their heads and wondered out loud if I had seen something in the
small unit that they had missed. They didn't know that I was
determined to win a unit, at any cost, so I could keep my
promise to share my experience in this column!
I deliberately bid on a unit with less than a car full of stuff.
I was able to sort everything out on the spot in to 4
categories: Trash, Donate, Keep and Sell.
I threw away an inflatable mattress which was missing the pump
and needed to be cleaned and two huge homemade shields. The
shields were accessories for a Roman warrior costume. I kept the
leather Roman skirt to sell later at an appropriate seasonal
time. (Estimated value $10.00) On the way home from the auction
I stopped by an ARC Thrift Store and donated a small metal table
and a baby car seat. I kept a diaper bag that was in like new
condition and gave it to a friend.
There were 5 Walt Disney sew-on decals inside the diaper bag
which sold on EBAY for $4.99. I sold the gas powered chain saw
on Craigslist for $85.00 and a vintage guitar for $40.00.
By the end of the deal I had a 30% return on my investment.
According to F.W. Woolworth’s business philosophy, a 30%
profit was his target and he built an empire on nickels and
dimes!
I have attended several storage unit auctions and they don’t
compare to
the cable television show Storage Wars and Storage Wars –
Texas. The made for TV storage auctions are full of colorful
personalities and very dramatic and entertaining. Don’t be
surprised if Storage Wars – Colorado is coming soon!
Happy Valentine’s Day and Happy Hunting!
Storage Unit
Auctions – Beginner’s Guide (Part One)
(December, 2011)
If
one of your New Year’s Resolutions is picking up a new hobby
and you are a treasure hunter willing to take a risk, buying
abandoned storage units might be the answer!
The
first step is to find out when and where the auctions are taking
place. There are
several ways to find out about upcoming storage unit auctions.
The easiest way is by doing a quick Google search on the
internet. (Type in Storage Unit Auction Denver)
If you don’t have access to the internet, you can start
by calling a storage unit close to your home and asking them
about the next scheduled auction.
Also ask them how many units will be available. It is a
good idea to call them the day before or the morning of the
auction, to make sure the auction has not been cancelled.
The
second step is to decide how much money you are willing to risk.
The majority of the auctions are on a cash only basis.
Take enough cash to cover your predetermined high bid and
$50 to $100 dollars extra to use for a deposit.
You will get your deposit back as soon as you have
emptied out the unit. You
usually have 24 hours to get everything out and leave the unit
clean for the next renter.
Show
up to the auction about 10 or 15 minutes early in order to have
time to get your name on the bidders list.
Bring your own padlocks (enough for as many units as you
intend to win), a flashlight, a broom and work gloves. If
you forget to bring a padlock, you can usually purchase one at
the main office, however, it is cheaper to bring your own.
Once
the door is opened, you will have several minutes to look into
the storage unit from the threshold. You can’t touch anything,
so make your bidding decision on what you can see from the door.
Remember this: you are bidding on ALL of the contents;
the good, bad & ugly!
Count on ending up with some items that will have to be
disposed of or donated. Take
in to account transport fees, dumping charges, and extra labor
costs.
Watch
for Part Two in the next issue of the Prime Time for Seniors
Newspaper. I will share with you a personal experience on
winning a storage unit and reveal my finds!
Happy New Year & Happy Bidding!
(from Geri's Column in
Prime Time for Seniors Newspaper, Aug 2008)
Classy Chattels
Specializes in Denver Area Estate Liquidations
 Call
Geri Sparks, Estate Sale Consultant: (303) 263-9736
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