21st century treasure hunts- Self-storage locker auctions


Ever wonder what's behind those doors at the local self-storage facility? Piles of treasures or cartloads of crap? If you're willing to buy a pig in a poke, you can find out; simply take part in a self-storage locker auction.

When renters quit paying their locker rent, the self-storage company eventually is given the right to auction off the contents. At these public auctions, bidders are given the chance to scope out the contents from the open doorway of the unit, but they are not allowed to enter it or move anything to see what might buried. What remains hidden is the mystery that adds excitement to the process. The units are usually sold at a live voice auction, with immediate payment expected.

The winning bidder takes responsibility for the entire contents -- the good, the bad and the ugly -- of the storage locker. This means that they could end up having to cart dumpsters-full of trash away. On the other hand, the lucky might uncover machine tools, collectibles, jewelry, furniture, and other items that can be sold for a handsome profit.

Interested in trying your hand at an auction? Here are a few tips for the storage locker auction virgin --