Sunday, April 17, 2011

Gambling on Storage Auctions

With the new hit shows, Storage Wars and Auction Hunters, there have been throngs of people exposed to the gambling that is buying storage lockers. My business partner and myself have even jumped into the game seeing if we can work out a way to buy storage auctions and liquidate the equipment.

So far, we have bought 1 storage locker for $395 and pretty much will be lucky to recoup our investment. We sold, on the spot, a dingy couch, love seat box springs and mattress for $50 making our investment a total of $345. We gambled a bit on it because we saw a safe in it, which turned out to be totally empty. We did however find a really nice leather jacket that looks brand new and a few other brand name jackets and clothes that are probably worth a couple hundred. It was a good experience and we learned that the processing of the junk is a bit of work.

I'm debating on whether or not we want to be like the collector, Barry, on the storage wars shows who is just looking for the collectible items or if we want to be more like Jarrod and Brandi (oh la la) who are stocking a store and selling virtually anything that they find of value... right now the plan is to buy another locker or two and then do a garage sell to liquidate as much as we can find and try to make our money.

With the online poker market in the upheaval that it is in then gambling on storage auctions seems like a logical next step... either that or researching the best penny auctions online and playing those to get our gambling fix.

Anyone bought any storage lockers? Any luck?

1 comment:

Haley said...

During my slower pre-poker days, I was a bit of a storage/flea market junk rat myself. And who knows? Maybe someday I'll do that stuff again! I go to the occasional auction or estate sale even today.