Can You Make Money Buying Storage Lockers?

You have likely seen the T.V. show 'Storage Wars' and watched the participants sometimes lose money but often walk away with thousands of dollars in profit. You may wonder if you, too, should bid on some storage lockers and make some extra cash.

Before you leap, take note that one of the stars of Storage Wars, Dave Hester, recently filed a lawsuit claiming that the show is rigged. "['Storage Wars'] regularly 'salts' the storage lockers that are the subject of the auctions portrayed on the Series with valuable or unusual items to add dramatic effect, even going so far as to stage entire storage units" his lawsuit alleges (Huffington Post). We don't know yet if Hester's allegations are true or just the result of a bitter employee who was fired. However, don't expect to make thousands of dollars profit like they do on the show.

Having said that, if you have extra cash, buying a storage locker and reselling the contents may be a great hobby that can bring you a nice side income. Just keep in mind that it is a bit of a gamble because you aren't allowed to enter the lockers and don't know what the contents are beyond what you can see outside the locker.

Where to Sell Your Items

Before you even bid, you should have a plan for how you will sell off the contents. Consider the following ways:

Craigslist--Craigslist can be great for selling large pieces of furniture such as dressers and couches.

eBay--This site is good for many items you might find such as DVDs, CDs, and designer clothing.

Consignment shops--Another option for clothing, jewelry, and purses is consignment shops, especially if you can find an upscale shop that offers higher prices. However, consignment shops usually buy based on the season such as summer clothes in March and winter clothes in August and September, so you will need to work around these constraints.

Pawn shops--If you have items you want to get rid of quickly like jewelry and tools, you can always try pawn shops.

Garage sale--Finally, if you have items that you don't think will do well at any of these other venues, you can have a garage sale and sell the rest.

Find a Partner?

As you can see, selling all of the items in the storage unit can be time consuming. If you are just venturing into this business, you may want to have a partner. Then, you can both split the price of the storage locker as well as the time consuming aspects of selling the merchandise. Of course, you will be splitting the profits, too, but in the beginning, having a partner may be a way to ease into this business.

If you are drawn to the show Storage Wars and wonder if you could make hundreds or thousands of dollars by buying old storage units, why not give it a try? You may not make as much as Dave Hester, but you could possibly make a few hundred dollars, which might well be worth your time.

Kyle Taylor blogs at ThePennyHoarder.com, a blog with 100’s of weird ways to make extra money. Connect with him on Facebook & Google+.