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 Replies: 42 / Views: 9,527 |
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Valued Member
United States
185 Posts |
Did anyone watch storage wars the other night? It is on A&E I think. Well these guys bid on storage units that have become abandant due to their owner not paying the bill. So they auction off the unit and the highest bidder gets everything inside the unit. This one unit had a stove and some furniture in it and some guy won the auction for $400. When they went in to clean it out they came across a storeage bin (hidden behind everything). Well inside this bin was an amazing lot of coins. One thing I remember seeing was a coffee can full of silver quarters. I think they said something like 150 of them in there. They took the whole collection to a coin dealer and said the whole bin was worth over $4100!!  It was just an amazing find....and these guys were not even collectors. Just thought I would share as there are treasures out there to be found! |
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Valued Member
United States
458 Posts |
Love that show, saw that episode. Must have been recorded a few months ago b.c I think I remember him saying silver quarters were worth $3 each at the time.
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Pillar of the Community
United States
2661 Posts |
I have been to some of those auctions myself. What you see on the tele is a whole lot different than what you find in the real world. Most of what I have seen is junk and is not worth my time to mess with. But then again it could be because of the demographics of the are that I live in.
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Valued Member
 United States
185 Posts |
I am sure they cut out the bad storeage units episodes and only air the ones where these guys acually make money on the units or find a pile of gold.
I cant imagine someone leaving behind there coin collection. Did they forget they put it in a unit? Kinda baffles me....oh well one mans junk is another mans treasure I guess.
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Pillar of the Community
United States
3294 Posts |
I find it difficult to believe that this actually happens. I mean who would have $10,000 is cash in a storage lockup and forget to pay their bill? And who would auction the storage lock-up without going through it themselves first?
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Pillar of the Community
United States
880 Posts |
Maybe they didn't forget? Maybe they got behind and then the place locks them out and they weren't expecting that to happen? I've never looked into one of these so I don't know how they work.
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New Member
Canada
40 Posts |
I attend auctions of all kinds. They have all kinds of stuff good and bad. I see alot of coins at the auctions and it sucks to say it but all the "good" stuff comes from estate auction where people have passed away and their bills dont get paid or their family just wants the stuff gone.
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Pillar of the Community
United States
4333 Posts |
It is an entertaining show, but I have to wonder just how much of it is staged.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
220 Posts |
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It is an entertaining show, but I have to wonder just how much of it is staged. Kind of like pawn stars, why would you pawn something that you could get double the price on the open market |
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Pillar of the Community
 United States
2448 Posts |
Isn't it shot in Los Angeles area. Last time I was visiting friends in LA, there were tons of storage units around. Not to mention the climate is conducive to keeping things dry and reasonably safe from the elements. We have exactly 1, and with the Mid-Atlantic "Muggies" in the summer, no coin would be safe.
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Pillar of the Community
United States
1304 Posts |
My best friend owns 600 storage units in and around the town I live in. He holds the auctions about every 3 months and he said maybe one a year will have something really valuable in it, mostly old jewelry. Never cash or coins. Really, mostly junk.
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Bedrock of the Community
United States
20753 Posts |
Quote:
I have been to some of those auctions myself. What you see on the tele is a whole lot different than what you find in the real world. Most of what I have seen is junk and is not worth my time to mess with. But then again it could be because of the demographics of the are that I live in.
No it's not just where your at. Around me there are those auctions all the time and not limited to storage lockers. They have them for abandonded safe deposit boxes, train box cars, entire warehouses, etc. People I know hit those all the time and as a rule, just loose a lot of money. About 99% of them are either empty or full of real junk. If you try the train box cars you actually buy the car and must empty it in a given time or pay finds for storage of NOW your property. This forces you to resell the car to a train company fast. Warehouse purchases are similar since you now own a building, your liable for propery tsxes, gas, water, sewage, garbage removal, etc. Still there is always the possibility of finding a treasure. On TV not to long ago the Antique Road Show program had an hour special on all the items people found in the garbage that are worth a small fortune. Of course they don't mention how many people find nothing except garbage. People always tell you about the great successes. No one wants to mention all the failures. Just human nature. |
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Valued Member
United States
372 Posts |
I really can't watch those shows. I get angry at them especially the pawn ones. I heard the place in Vegas has a line of people waiting outside to get in and the stuff that makes it on the show is all staged.
Mike
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Pillar of the Community
United States
1231 Posts |
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And who would auction the storage lock-up without going through it themselves first?
Most self storage facilities will lock your unit when the owner doesn't pay the bill. The storage place will put their lock beside the customers lock. Thats why they have places for 2 locks on the door. Typically after 3 months of non-payment the unit goes up for auction. They hire an auctioneer to sell the units. They explain the rules of the auction at the front gate. You walk back as a group to view the units. The storage place will remove their lock. They then cut the owners lock off. They give 1-5 mins to view the unit. Some will allow you to go inside, most don't. Make sure you listen to the rules. Then the bidding starts. The storage facility is really only looking to recoup the rent they are owed and the cost of the auctioneer. You have until the end of the day to remove everything (you can't use their dumpster to dump junk) or you rent the unit for a month until you can remove it all. I've been to alot of these when I lived in NC. Most of what you find is complete junk. I saw only 1 unit that could be of value to the right person. The unit contained brand new wooden handles for hammers,axes,shovels etc. And it was packed full of them. The unit went for about $140. |
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Valued Member
United States
171 Posts |
I don't think that this show is staged. They also show the big flops that the buyers sometimes make. As for Pawn Stars, the reason many people take less than open market value is because of the quick cash and that they do not have a market. Kind of like American Pickers....those guys know where to go with the "junk" they buy.
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Pillar of the Community
United States
958 Posts |
friend's dad owns 500 units.
Most is junk people left behind.
Every now and then someone leaves good stuff.
The cuases are
someone dies family did not know or check p.o box for letters from the storage company, someone gets thrown in jail with no bail for over 3 months, someone leaves the country for got to pay in advance or do auto withdraw,
people get hurt in the hospital coma/car wreck
The unit becomes last priority
I went to look inside some of the units its almost 99% junk or personal stuff like wedding dress,photo albums,
clothes,bed matress,furniture.
Most the time IMO the owner should have throw the junk away then spending 30-40 a months storage , thats 400$ a year
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Replies: 42 / Views: 9,527 |
Posted 01/07/2011 2:32 pm
