The article below was submitted by Ryan Franklin, a guest writer who is an expert on business, storage auctions and long distance movers.

We all know the basic premise of turning storage auctions into a business: Buy the room for a price and sell the stuff inside of it for more. That’s all fine and dandy in theory, but it’s a bit more complicated than that in reality. You have to be able to make a quick analysis of the room and the potential profit to make sure you don’t pay too much. Here are some factors you should keep in mind when considering a room:

- Do you have a buyer?

The internet has made it easier to sell to perfect strangers via eBay or other avenues, but it always helps to have a buyer in mind for an item before you buy it. If you know someone that’s likely to buy it you might be able to push the limit a bit more. Or you might know that a particular person is willing to pay more because it’s more convenient to buy from you. This is why you need to constantly build your network of potential buyers and keep them in mind when buying rooms.

- Do you have the space?

We’ve all done it, unknowingly or not. You see something in a room that piques your interest and you forget all about the other huge items in the room that won’t fit in your garage. Unless you have a huge warehouse with unlimited space you need to think about what you’re going to do with your items until you make the sale. You don’t want to throw money away by selling at a low price or getting into a situation where you have to throw items out that you could sell. Always think about whether you have the space for inventory before you buy.

- Do you know what it’s worth?

Appraising the worth of a room in a short period of time is a must-have skill for anyone who wants to be successful in this business. Of course, we all think we’re infallible when it comes to this skill. If you’re ever in doubt, however, you need to use all the resources at hand to get good information. Use your cell phone to look up the current market value, or call an expert you know if there’s time. If you can’t get good information then don’t act on a hunch. You will blow through your bankroll faster than you can imagine if you follow too many bad “feelings.”

You’ll be successful at storage auctions if you view the process through the lens of the sale. Have fun at your next auction!

With scheduling becoming tighter and tighter, I find my self going to more auction houses than storage unit auctions this time of year. The thing I like about those types of auctions is that you (usually) know exactly what your getting, as opposed to storage unit auctions that are like Christmas morning. They both have their good and not-so-good sides.

Recently I went to an auction that had some sports memorabilia up for sale. I don’t know anything about sports, but these autographed photos with COA’s were worth looking into. The first item I came across was a picture of the ‘500 Home Run Club’ members as of 1988. It also had all of the players autographs! There were players like Willie Mays, Ted Williams, and Hank Aaron. A quick look at the auction market had similar items selling for around $400. I could not find the exact set of autographs, but made a best geuss-timate based on the info I had. When the bidding started, I snagged this gem for $220. I immediately put it up on eBay and it drew an impressive $310. It’s not a whopping amount of money, but any profit is good profit. I also got a few other autographed pics but I’m holding out on those to try and spread the auctions out.

If television shows like Storage Wars and Auction Hunters haven’t convinced you that storage auction are worth your time, maybe you should read this. While it isn’t every day that a storage unit purchased for a few hundred dollars ends up containing a $1 million prize, these plotlines aren’t just relegated to movies. This stuff happens in real life. Just ask these lucky few titans of storage auctions.

When Bill Fair decided to bid on a barn full of old junk, he had no idea that it held one of the milestones of automotive engineering—a ’66 Shelby Mustang to be exact. Only 1100 of the super rare, super fast car were ever made. This one was of particular interest because it once belonged to Carroll Shelby himself. Once the discovery was made, the car was promptly shipped to San Antonio where it was sold at a car auction for upwards of $200,000. 

Dan Dotson made the discovery of a lifetime when he won the auction for two units with a combined price tag of $1700. An “X” might as well have marked the units on a map because there was some serious pirate booty held within. Dotson found a chest full of gold and silver coins and gold bars. That $500,000 is a pretty good return on a $1700 investment.

In the San Fernando Valley, near the glitz and glamour of Hollywood, inspiration for one of the great film franchises of all time was discovered at a Storage Auction. A near mint copy of Action Comics No. 1 was unearthed amongst boxes and crates at the auction. This find was of particular interest to Nicholas Cage, who bought the comic for $150,000 in 1997 then reported it stolen a couple of years later.

In her role in the self storage industry, Jessica Johnson helps customers care for their cherished belongings that must be put in storage. Jessica goes to see her facilities including a Brooklyn self storage unit center. She was also recently meeting customers and staff at another self storage unit in Brooklyn.

Not really. There aren’t even a lot of things that an iPhone or iPad app could do for your storage unit auctions, but recently I got an email from a visitor here alerting me to an iPhone app that you can have some fun with. Now you can be the annoying ass-hat at storage unit auctions with the YEP! app for iPhone and iPad. Just like the Storage Wars persona that yells it, this app allows you to answer Yep! in any situation. There’s a multitude of variations for the voice including Diva, Helium, and Megaphone.

If only someone would write an app that lets you snap a picture of the opened locker and give you an immediate estimate of the value, including items hidden in drawers, bins, and bags… Now THERE’S an app!

I’ve removed Storage Wars from my TiVO. Last nights episode was the final straw. I’ve watched a good idea a couple of years ago turn into a circus of clowns and talentless camera hogs.

When the show first came out, you could actually learn something about storage unit auctions. There was some good insight and ideas about how and when to bid on a locker. When items were found, and back then there were more quality items, the appraisals and education you got on the items was very helpful.

Sadly though, this once informative show has let success go to it’s head. The UN-funny antics of Barry, the 8th-grade prom dresses Brandi wears, and the always annoying Dave have combined to make this new batch of episodes the television equivalent of nails on a chalkboard.

Dave has really let his television time go to his already swelled head. His fleet of trucks and trailers with his name plastered all over them and his constant self-reassurance that he’s number one in his mind points to a very sad, lonely man. His on-the-spot appraisals have become even more laughable since I wrote about them a few posts ago. Last week, I saw him appraising a unit and he pulled out a 1990’s projection television. He stated that it would easily go for $250. Well, at Walmart I can get a 47” LCD TV for just over $300, so why would someone save $50 and buy Dave’s 15 year old POS TV? His prices are so off-kilter with reality that I have to wonder just how he keeps his store open.

I’ve been to California MANY times. I travel to LA and San Diego a few times a year. The people are nice and the energy is fantastic, which makes it hard for me to believe that people there are stupid enough to pay Dave’s bloated prices for used crap. I’m convinced more than ever that he is simply hamming-up his numbers for the sake of the television show. Jarrod and Brandi are more annoying than an Adam Sandler movie marathon, but at least their appraisals are more in line with reality.

The only one I still like on the show is Darrell. He still seems to genuinely go there to get a locker, not just get on TV. Out of the entire cast, he’s probably the only one you could learn something from.

Recently I went to an auction and when the owner threw open the doors on an external unit, I was surprised at the number of spider webs and cricket droppings on the floor. I think the condition of the unit itself scared away a lot of potential buyers because of the ‘ick’ factor. I didn’t stick around to see what was in the unit after someone purchased it, but it got me thinking about how I would handle an infested unit.

First thing I would bring is a good pair of gloves. Not thin, fashionable gloves sold on my website (like Barry Weiss and his skeleton gloves), I mean actual thick working gloves. Black widows, scorpions, etc., shouldn’t be able to penetrate your gloves.

Even before moving the material inside, I would use a broom to remove the webs and scare out any other bugs that might be hiding behind boxes or in the corners.

You’re likely to run across bugs in any unit that has been sitting a while. I hate to put anything with bugs on it into my truck so I try and make sure the boxes and items are clean of webs and wiped down a bit before loading. The thought of this never really crossed my mind before until I saw the unit from hell, but taking a couple extra minutes and making sure you have the right tools means situation normal.

I have received a few emails over the last couple of months asking if there is a difference between the book that is offered from our sales page and the one that is offered on eBay™. The short answer is no, but the delivery methods for those options is what is different.

On eBay™, listings for training books, eBooks, etc., must be offered as a physical product. In other words, it is against eBay™ policy to sell digitally delivered items in certain sections of their auction pages. The category and type of book that we offer falls into that category, meaning that when you order from eBay™, you get a physical CD product mailed to your PayPal™ address. We have plenty on hand and our turn-around is usually 1 to 2 business days, so you get the product pretty quick. The shipping is free so you don’t pay any more or less than the other option.

Using our sales page, we offer immediate digital download of the product through our reseller partner, e-Junkie. The cost is the same but after PayPal payment is complete, you receive an email with download instructions so you can start reading right away!

If you have some items in your house that you need to get rid of and are considering taking them to auction, here are some quick tips to help ensure your items get top dollar. Of course, a lot depends on the number and type of people that attend the auction, but still there are some things you can do to make your items stand out.

1) Clean the items. Don’t take furniture or housewares to the auction without first giving them a decent cleaning. In most cases, the auction house won’t take the time to make sure they shine and look as new as possible. They might do a quick wipe down, but when your item is actually clean, it stands out and gets noticed.

2) Information overload. Make sure you do a little bit of prep work in getting dimensions and other specifications for your items. Have these ready to hand over to the auction personnel that are taking your items. Again, auction houses tend to be very busy and unless your item is worth quite a bit, they may not put much time and effort into making sure the description of your item is full and accurate. NOTE: Don’t overstate the specifications of your item. I saw a series of retail racks just like the ones I used in my store and the description said the shelves could hold 300 pounds. At most, those shelves can hold about 150. Hopefully someone didn’t buy them and find out the hard way that their new shelves didn’t hold what they thought it should.

3) If you attend the auction, don’t bid. It’s a good way to get flagged by the auction house. Trying to get more for your item by bidding on it knowing someone else will bid higher is a huge no-no. Plus, you might end up buying your own stuff!

4) Make sure you know the real value. Don’t be like Dave Hester from “Storage Wars” and think that a pile of rat droppings in the corner will, “… sell for $10 all day long.” Be realistic and set your expectations accordingly. This is especially important if the auction house has a limit that they want the items to be worth. If your item sells for less than that, you may not get any commission. Try to make sure your items have a good chance of selling above their minimum.