
On NPR the other day, we heard a story about the effect of the economic downturn on self-storage units. Many people who can't afford to pay their fees have defaulted on their spaces, so storage providers are auctioning off the contents. The catch? You don't really know what you'll get...
The units are auctioned off "blind," meaning that buyers can't open boxes or examine units to see what they're bidding on. If you win an auction, you're responsible for hauling all of it away. Auction winners may find treasures or trash, and a lot of the time the stuff people choose to store is pretty mundane: papers, magazines, containers, children's toys, broken electronics.
When we wrote about storage industry numbers two years ago, 1 in 11 households rented a storage unit, with the numbers on a steady rise. Since then, the economy seems to be having an adverse effect on the industry. Although we don't have the most recent numbers, perhaps we will see a drop in storage units as fewer people commit to paying for the extra space.
Hear the entire story on NPR here.
Photo: Flickr member Penningtron for license under Creative Commons
How incredibly fascinating! Can you imagine, like a treasure hunt, this would be so much fun. I would assume though, that before someone knows they're going to default that they'd come and remove the best stuff to sell on their own.
view jacksonlalonde's profile
Not to post the downside of this, but my husband and I moved back to the States this summer. We had a moving company through a legit website pick our stuff up in Seattle, where it ported and drive it to Atlanta. Unfortunately they didn't deliver all of our stuff. They stuffed our stuff and quite a few other families stuff into storage units all over Texas. Most of those units have been auctioned off because the company went under and the Storage Companies could only release the items to the renter (ie the moving company). Basically there is a lot of legal action going on--but whatever was in those units was sold off and not because the rightful owners did anything wrong.
view debs4680's profile
This actually sounds incredibly depressing to me - bordering on schadenfreude.
view home body's profile
that's just creepy & sad.
view jaytee's profile
It is schadenfreude, and for those who don't know the word it's German and means 'glee at someone else's misfortune', I went to an auction from a local storage company... it was hit & miss big time... some containers were opened to reveal nothing but papers, magazines, blankets. Most memorable was an older woman standing there crying when she couldn't bid high enough to get her prized possessions back. When the container was opened, the moment after the auction gavel was struck, what was revealed were a very carefully wrapped antique dining set and sideboard. Several people approached the buyer to negotiate on the woman's behalf but he was having none of it. Personally I won't be going to another such auction (my heart can't take it!).
view Rucy's profile
I have to say I couldn't bring myself to be involved with this. I've had a few glitches with automatic transactions over the years but am fortunate that my storage facility manager is extremely diligent about contacting me personally if anything happens. He also remembers my name when I don't show up for months! Sure there are people who just walk away but I know there are innocent people who lose in situations like these.
view art's profile
I heard this story on the radio too! I would worry that I would get someone's tacky christmas crap put in storage for the rest of the year or something.
view MFlick's profile
Man, that's such a sad story, Rucy! :(
view ashleewaashley's profile
I just finshed reading a book called Bones.... a murderer chopped off his victims' hands and then stored the bones in a storage locker, which was then auctioned off as mentioned above. So who knows what you could find in those things! And I can't quite figure out why anyone would want to spend money on something they couldn't even see when they could go and buy something they actually like and want?
view alaylam's profile
Well now I almost feel bad about myself. I still get a tingle up my spine though, thinking about going through forgotten boxes and abandoned chests. You must realize that this is stuff that will end up in a landfill anyway, if the act doesn't make you an outright environmental activist it does at the very least make you a curious urban spelunker.
view jacksonlalonde's profile
I know someone who was buying lots from storage units and he stopped because it was so sad and depressing to look through stuff.
view Kate (NC)'s profile
Rucy, I hope someday that merciless buyer finds himself in the position of depending on the kindness of strangers... and the strangers, like him, will have none of it. This is my Schadenfreudean dream.
Poor lady. :(
view rosenatti's profile
Thank you, alaylam! This was the scenario that immediately popped into my head when I first read this, although I have never read that book. Buying someone's storage unit contents is creepy, at best. I'd feel like a vulture, swooping in and taking someone's stuff like that. ;)
view Miss*Lisa's profile
This actually happened to me 8 yrs ago when I relocated from Phoenix to San Diego. The higher cost of living forced me to take a smaller apartment and store the items that I didn't need on a daily basis.....namely photos, love letters, diaries, yearbooks, and 'Toodles' -- the baby doll that had been passed down to me from my mother. Nothing of actual monetary value -- only intrinsic value.
A billing/change-of-address glitch caused my account to go into default. I was so busy enjoying my new life in SD that I didn't even realize until it was too late.
I called the storage company to find out my belongings had been auctioned off to the highest bidder one week earlier. They start the bidding at $20. To think my entire childhood was purchased for as little as a twenty spot! They told me that most people take their winnings to the swap meet to sell, and then throw away what doesn't.
That weekend I took 2 friends to the gigantic swap meet. We split up in search of my things -- I gave them each a list of what to look for. I knew I'd be lucky if anyone actually thought they could get money for what I'd stored.
The search was fruitless. I know it was just 'stuff', but I still tear up when I think about it. Without having access to the 'stuff' that triggers the childhood memories, the memories are starting to fade.
Seeing this post reminded me of an idea I had back then. I wanted to go to one of the auctions and bid on someone else's storage unit. I would then use clues from what I found inside to track them down and return their belongings. If only I could save just one person from feeling the loss that I did....maybe I'll do that next weekend.
Thanks for the reminder, AT.
view tenderoni's profile
Wow, this all reinforces my conviction that you should only store things temporarily, between moves or whatever -- own only what you can keep with you, otherwise. And check your storage unit at least weekly...
Saying that, though, I confess that my favorite flea market vendors buy storage lockers and clean out estates 00 and I do mean clean out: they often (at the heir's instruction) strip out the sconces and take the toilet paper off the wall! But I have gotten some great bargains from them!
view SherryBinNH's profile