8 STORAGE AUCTION MYTHS DEBUNKED [INFOGRAPHIC]

8 STORAGE AUCTION MYTHS DEBUNKED You've seen or at least heard of storage auctions thanks to reality TV shows like "Storage Wars" and "Auction Hunters." But that's not really reality. In this infographic, we break down and bust eight myths about storage auctions. YOU'LL STRIKE GOLD Fiction: Every storage unit will yield valuable stuff, like antiques or jewelry. Fact: It's rare to come across high-dollar finds in a storage unit, but it does happen. STH #2: YOU'LL BE IN THE DARK Fiction: You can't tell what's inside a storage unit that's up for auction. Fact: You can't enter a storage unit before an auction, but you can peek inside, as long as you're outside the door. Tip: bring a flashlight so you can clealy make out the items that are inside. YOU'LL BE RIPPED OFF Fiction: Storage operators take out all of the good stuff before you get there. Fact: Storage operators don't touch a thing once a unit goes up for auction. DO NOT ENTER MYTH #4: YOU'LL BE ABLE TO PAY HOWEVER YOU WANT Fiction: You can use a credit card to pay when you've scored the winning bid on a storage unit. Fact: You need to pay cash for a storage unit that you buy at an auction. ΜΥΤΗ +5+ YOU'LL NEED TO BE THERE Fiction: You've got to fight the crowds at a storage auction to bid on storage units. Fact: You can bid on storage units online through sites like StorageTreasures.com and OnlineStorageAuctions.com. MYTH #6+ YOU'LL BE ABLE TO KEEP EVERYTHING Fiction: If you've come across photo albums and other memorabilia in a storage unit you've purchased, you can hang on to them. Fact: In most cases, a storage facility will ask you to turn over all personal items you find in a purchased storage unit. DIPLOMA Cerificate of Birth MYTH #7: FACILITIES RAKE IN THE DOUGH FROM AUCTIONS Fiction: Storage facilities make a profit off of auctions. Fact: Under most state laws, storage facilities collect only the delinquent rent, along with enough money to cover auction expenses. The rest of the money goes to the tenant. %2$ 2$ 2$ YOU'LL BE ABLE TO TAKE YOUR TIME Fiction: You can pick up items from a purchased unit whenever you want Fact: Once you've purchased a unit, you'll Usually need to clear it out by the end of the next business day. 245 Research by Rachel M. Hartman Artwork by Brian Shreckengast Sources: James Grant, StorageTreasures.com Travis Lane, OnlineStorageAuctions.com Casey Jones, BCCole.com BROUGHT TO YOU BY: selfstorage.com