Is the Internet Killing Storage Auctions?

Add to the growing list of industries that the up-and-coming generation seems to be killing off: antiques and collectibles. The Collectibles Market Is Not What It Used to Be. The digital revolution has taken away the joy of the hunt. Or has it?

The fact that we now have convenience does not make us less inclined to explore, browse, and discover items we didn’t know we wanted. Antiquing, flea market browsing, yard sale shopping, and attending auctions have always been hobbies for a devoted niche of people. The items in demand and the formats of sales may change, but the thrill and the sales remain.

Used Goods and Online Resale Markets Thriving

In terms of buying antiques and collectibles as investments, any hedge fund manager will tell you that investments always carry risk. Collectibles are no exception, and you’ve got to be careful about buying items solely for the purpose of selling them later. The resale market is always changing as supply and demand fluctuate.

While many people who hoarded Beanie Babies are now disappointed by their actual value, the used goods market in the United States is a growing $20 billion industry. That’s not even counting the online resale market, of which the fashion sector alone grew 82% between 2013-2016.

But those are general goods, not big-ticket items like authentic antique furniture, right? Not necessarily. There’s a thriving online niche for antique buying and selling.

The Internet Hasn’t Killed Browsing

Not only do Americans love a good deal, but the younger generation also loves a good hunt. They wear, as the Thrift Shop song proudly proclaims, their granddad’s clothes. They shop in brick-and-mortar stores, from low-cost giants like Goodwill to higher-end boutique consignment shops to local nonprofits. It’s true that users can find specific items with the search function on sites like eBay and Etsy, but they also browse categories and wander through algorithm-generated lists of similar items.

At StorageTreasures, we’re believers in online auctions self storage auctions. We make browsing online for units easy and worth your time.

Man Finds Safe Containing $7.5 Million In Cash

A man who purchased the contents of a self-storage unit for $500 discovered a safe inside containing $7.5 million in cash, according to Dan and Laura Dotson, owners of American Auctioneers, the company that presided over the sale. The couple, who star on the A&E reality television series “Storage Wars,” learned of the discovery through a third party earlier this month and shared the story via Facebook video. They didn’t reveal the man’s identity or where the auction took place.

Dan Dotson was attending the Cars, Stars, Rock ‘N’ Roll & BBQ Festival in Indio, Calif., Nov. 2-4, when a woman whose husband works for the lucky auction winner approached Dan and shared the tale. According to the video, the man sought the services of two locksmiths before finding one who could or would open the safe.\

After the discovery, the man was approached by an attorney representing the safe owner, who offered him $600,000 to return the money. He declined the original offer but settled on $1.2 million, refunding the remainder of the cash. It’s unclear how the attorney learned of the auction or tracked down the winner.

 

What they would do in this situation?
Would you give the money back? Would you ask for a finders fee?

You would be surprised, at what you can find in a self-storage auction. Sometimes it might be more than just furniture and photo albums.

 

 

Source:
Daily Mail, Buyer Finds a Safe Containing $7.5M Inside Unit He Bought From Storage Wars Host.