Since the airing of a few popular televisions shows on storage auctions, the popularity of buying Miami storage units at auction has exploded. Everyone knows that there is a lot of money to be made at these auctions and there is potential in every one of the self storage units but it's not all profit. Not everyone that attends or participates in storage auctions wins. Getting into the storage auction business is not something that everyone can do; going into it without the right preparation can cost a lot of money and a lot of wasted time.
The first winner in any self storage auction is primarily the storage facility. They are not in the business of selling used junk and collectibles, they just want to get rid of the self storage units contents and recoup a little of their costs. In some cases, especially since the advent of the television shows, they're even able to make recoup the money owed to them. Any money over the amount owed by the tenant must be returned to the tenant, of course this is after all commissions and extra expenses are tabulated.
Sadly, the major loser in many self storage auctions around the country is the average consumer that tries to play their hand at buying at storage auctions. They see the experts making thousands of dollars on the TV shows and decide that they want a chance at those kinds of profits. The truth is units are only as profitable as you know how to make them. Listing all of the things you buy on ebay won't make you a profit. It takes time and it takes expertise that most people just don't have. Most people end up, for instance, with a storage unit in Houston full of junk that they have nothing to do with.
On the other hand, the professionals in this business can assess the risks effectively and consistently make a profit in the long run. They often have connections in place that allow them to move the collectibles or valuables they're buying fast. That makes it possible for them to actually recoup the value without holding onto it for a few months. They also have the budget to make a high percentage of mistakes and still go home with a profit at the end of the year.
Self storage auctions are a risky business with a number of different winners or losers. The facilities and the professionals both win because they know what their expertise is and they stick to it. The average person going to a self storage auction loses because they don't have the knowledge and connections to actually profit. This just leads to the storage facility getting more money for the units being auctioned and the auction hunting professionals getting upset at the prices being bid up too high by the newcomers.
Everyone can win in a self-storage auction, with a little dedication anyone can become a knowledgeable and connected buyer. In fact, most of the professionals started out that same way. They just can't expect to head out to storage auctions and profit big the first few times. If they're careful they won't end up the loser in the long run.