The Storage Sale Craze

The Storage Sale Craze

I can only assume everyone has either heard of, or watched “Storage Wars” in recent months. The increase at self-storage auctions due to this new shoppers’ craze has been quite significant.

I have recently returned from a self-storage convention here in Texas where I spent considerable time visiting with fellow self-storage managers, both in scheduled classes as well as in informal settings. One of the most common topics which seemed to surface in most conversations was having to do with attendance at these self-storage auctions.

In discussion of this topic, most managers spoke of having a rather large increase of inquiries about these public sales, as well as quite an increase in folks attending these events.

There’s no doubt that modern-day television has created this new “buzz” about finding your fortune in one of these prize storage units. While there are many storage managers who allow folks to enter the unit and take a closer look, many managers do not, this creating an extreme sense of curiosity from all potential buyers. You can always hear folks talking to each other, especially involving a storage unit which contains many boxes, discussing the million dollar question of “what” and “what if” might be in those boxes.

Honestly I can admit, it’s very entertaining and interesting to be a part of this new found crowd we have experienced at our recent storage sales. I enjoy visiting with the new folks at our facility on sale day, as I often give them a hard time about seeing the folks on television whom buy a unit and end up being wealthy individuals at the end of the day. I will often ask an excited buyer, “what did you see in there that made you buy that unit?” The answers I get are very serious from some buyers, yet comical from others. From my personal experiences, and depending on the size of the storage unit and the amount of items the unit consists of, the dollar amounts bid at these auctions can be from as low as $1 up to just under $1000 or more. From what I have observed, it’s become quite a bit like Vegas gambling, you see folks bidding higher and higher against other buyers, in hopes that the unseen or unnoticed items might be tucked away in this unit and the big payday is sure to come.

Nevertheless, is this storage sale popularity just a quick to fade “fad” or will we continue to see an increase in the years to come? Good luck and happy bidding!