Storage Wars
- Thread starter TT Cat
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I'm your man because that is the type of business my family runs and we've had Storage Wars try to film but we never let them because A) It's fake and a total hassle (they rent items from antique shops and plant them in units), B) People's stuff being sold is actually very sad.
Before that show, only about five people would show up to these auctions and now it's from 30-40. The majority of the units are total crap. The only ones really worth anything are the ones with tools and that type of stuff. We had one that had a brand new cement mixer in it so that was a big score for someone.
In case you don't know how it works, this is how it goes (storage laws differ state to state)
-You have a certain period of time before you get sent to Pre-Lien and then ultimately Lien.
- The tenant can pay off their unit up until the second the auctioneer says "sold" to the highest bidder.
- Everything is in cash and you will often get 24-48 hours to remove everything
- If you don't have a resell permit, you get taxed on your purchase
- They will also, take a cash deposit if the unit is big and feel that you may leave some trash
- The auctioneer and the storage manager are supposed to cut the lock and film it as well as the contents of the unit (in plain sight) prior to the beginning of the auction. If there are drugs, cars, or guns you have different processes if that occurs.
- A lot of what you see on television is total BS. It is not common for prices of these units to be consistently over $1,000. I've seen them go anywhere from $5-$2.500. The only gems our family's facility ever had were surfboards, tools, cement mixer, $50k in Tiffany jewelry, a Roger Staubach signed Cowboys helmet, guns, a Harley, etc. But the majority of time it's trash, personal items, and furniture.
Before that show, only about five people would show up to these auctions and now it's from 30-40. The majority of the units are total crap. The only ones really worth anything are the ones with tools and that type of stuff. We had one that had a brand new cement mixer in it so that was a big score for someone.
In case you don't know how it works, this is how it goes (storage laws differ state to state)
-You have a certain period of time before you get sent to Pre-Lien and then ultimately Lien.
- The tenant can pay off their unit up until the second the auctioneer says "sold" to the highest bidder.
- Everything is in cash and you will often get 24-48 hours to remove everything
- If you don't have a resell permit, you get taxed on your purchase
- They will also, take a cash deposit if the unit is big and feel that you may leave some trash
- The auctioneer and the storage manager are supposed to cut the lock and film it as well as the contents of the unit (in plain sight) prior to the beginning of the auction. If there are drugs, cars, or guns you have different processes if that occurs.
- A lot of what you see on television is total BS. It is not common for prices of these units to be consistently over $1,000. I've seen them go anywhere from $5-$2.500. The only gems our family's facility ever had were surfboards, tools, cement mixer, $50k in Tiffany jewelry, a Roger Staubach signed Cowboys helmet, guns, a Harley, etc. But the majority of time it's trash, personal items, and furniture.
There was a big post on Craigslist a few months after the show came out. The guy said he bought them and sold items at a peddler's mall. Thanks to the show the crowds and prices doubled. He said the vast majority of the stuff is worthless and you never bid hoping something was hidden in it.
My favorite part of it was a big spill about this is Kentucky - there are no medieval porcelain antiques or super rare sports memorabilia. You know what you get???? Little old lady church clothes. Tons of little old lady church clothes. You know what they're worth??? Nothing. Nothing at all.
My favorite part of it was a big spill about this is Kentucky - there are no medieval porcelain antiques or super rare sports memorabilia. You know what you get???? Little old lady church clothes. Tons of little old lady church clothes. You know what they're worth??? Nothing. Nothing at all.
I used to watch the show about the storage sheds out in California. Always overpriced. There was one guy on the show, Ivy Calvin, that seemed to put realistic prices on his stuff. They showed his store, complete junk shop.
I had read that most of the good stuff is planted by the producers. Scripted like all reality shows.
I had read that most of the good stuff is planted by the producers. Scripted like all reality shows.
It is planted. I know this first hand. They rent items from antique shops and plant them in the units.
They are also contractually obligated to buy a unit from the auction. However it's with money they're getting paid in that episode with. Total BS show all around. There's an even worse storage show than Storage Wars called Storage Treasures or something.
Anyways they have staged units all the time. Comical
Why all you guys wanna be killin my storage buzz?
You know who's not regretting their decision to join the show? Jared and Brandi, that's who.
You don't want that storage fame life?
You don't want that storage fame life?
Auctions are a total nightmare for most storage facilities. The paperwork is awful pre auction and post auction. Also, because none of us ever turn a profit. We have to spend over $500-600 a month just to post the listings in the newspaper for two weeks. Then you have all of the certified mail you have to send out for all of the deadbeats who don't pay their bills. Then you will have people owe $400-$1,200 in owed rent and not get anything close to it and if you did, you only get the rent owed to you. If it goes over, you have to cut a check to the tenant.
Plus, you deal with the worst of the worst. I'm talking Flea Market trash and illegals crowd. These groups are a total hassle and you have to hope and pray that they don't abandon the unit after getting what they want and leaving you to clear out this hoarder's mess.
I know you say it's just 'storage units' and I agree but these people do not view them like that out here. For a lot of these folks, everything they have is in there (even if it's worthless) and always have so much sentimental crap. You know how many people come to us every month crying because their kid's baby pictures are in there or their dead daughter/husband's belongings are in there, etc? It's bad, man.
As for the show, they take forever to film and prolong an auction that our auctioneer and company just want to hurry up and get over not to mention two of them that we have met are total dickbags (Dave and Darryl).
How long does rent have to go unpaid before you auction it? Is auctioning it a legal requirement?
It's probably different by state but here it's like this and yes, an auction is required but you are allowed to hold it over until your liking (why you'd want to is beyond me). The rental agreement is very similar to renting an apartment, pretty much. They're month to month but here's how it works.
-11 days late- you put a lock on the unit and charge a late fee and you can't access it til you pay in full. The grace period is up to the facility.
-26 days late is pre-lien ($10 fee), (This is where you send a certified letter warning them of the date of lien and the balance that must be paid to avoid the lien fee) and when you do this pre-lien, there cannot be a single typo. You have to make sure the name, the unit number, and the address they have written in their agreement is 100% accurate. No exceptions or you have to start the process all over.
-41 days late is when you go into lien and are scheduled for a future auction date and send another certified letter. There are only 12 auction days out of the year for our place (once a month) and you have to give them at least 30 days before they're sold. So based on the date of the next auction determines the date they're scheduled for. For instance, if our auction is scheduled for June 17th and you go into lien today, you are scheduled for the July 22nd auction.
You then have to send a final auction notice and then publish an auction ad in the newspaper for the units scheduled for auction for that upcoming auction.
By the time you get your stuff sold, you're somewhere around 70 or more days late. Before the auction, you have to double check all of the forms sent and your auctioneer must approve it to sell these units. Then after it's over, you have to have more forms filled out and copied and signed. It sucks.
This may be a stupid question but wouldn't it be cheaper if you just gave them their stuff and got your unit back?
It would be nice but depending on these people who make nothing but bad decisions to come and rent a truck and empty their unit out is expecting too much. When they go to auction, whatever we don't get back, they get sent to collections.
This also ignores the huge amount of folks who do come and pay their stuff right before it gets auctioned off. There wouldn't be much incentive to pay if they didn't fear their credit being ruined and their stuff being sold. But yeah, it would be better just to get these people out so you can get a tenant in to pay the rent these people won't.
The prices out here are pretty wild too. 10x30s are $410 a month, 10x25s are $363, and a simple 10x10 is $144 so you can imagine a few months of units like that not being paid, adds up.
Question regarding the auctions (real ones, not Storage Wars ones): If you were the owner of the facility, a couple of days before the auction, couldn't you cut the lock off, go rummaging through, and find any of the good stuff (baseball cards, tools, guns, jewelry, etc.) and keep it for yourself? Put a new lock on, and cut that one at the auction?
I guess if you're not one of the corporate ones. At ours we have individual alarms on all of the units that have a record every time that door is opened and shut as well as cameras everywhere.
I guess it's possible but we have to film the cutting of the lock with the auctioneer. And more importantly they could come the day of the auction and pay then they're going to want to know why the eff their lock is cut and stuff is missing.
I'd like to say it was a public service to you, man, but the search for the image was totally selfish on my part. I'd call that a sackfull.
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