Thanks to reality TV shows like Storage Wars, storage auctions have taken on a life of their own in the public imagination. The thrill of possibly uncovering a hidden fortune behind a roll-up door has many fantasizing about bidding on storage units. But how close is this to reality?
We spoke to storage industry experts Sue Haviland of Haviland Storage Services and Steve Reed of Carefree Covered RV Storage to get the real story on what storage auctions actually look like – both for buyers and for operators. Along the way, we explore why, even with the occasional auction, self storage remains a responsible, regulated and ultimately worthwhile solution for millions of people needing secure, flexible space.
Myth 1: Every unit holds hidden treasures
Reality: Most units are filled with everyday items — and that’s what makes them valuable.
TV often paints storage units as vaults of rare collectibles and secret riches. But according to Sue Haviland, this public perception is a “double-edged sword.” As she puts it, “People either think all storage units are full of junk, or they believe every unit contains priceless treasures.”
The truth is far less dramatic but no less meaningful. Most units contain normal household goods — furniture, appliances, clothing, or sentimental items — rather than anything you’d see in an auction house. Steve Reed recalls that “Once a guy had a 4-wheeler hidden that was worth $6,000, but that’s the only one I can remember out of hundreds or thousands of auctions we’ve had.”
Experienced resellers often view auctions as high-risk ventures. With expenses like hauling, disposal and cleanup, it’s not unusual to break even or take a loss. Still, these stored possessions often reflect life’s transitions — moves, family changes or financial setbacks — and storage offers a valuable bridge during those moments.
Myth 2: Facilities are quick to auction off belongings
Reality: Storage operators take multiple steps to help tenants avoid auction.
Contrary to popular belief, storage facilities don’t rush to auction. In reality, self storage facilities are legally bound to follow a series of structured steps before an auction can even be considered. Tenants receive multiple notifications, often by phone, email, and formal letters, and are given ample time to settle their debts.
Sue Haviland, who operates facilities in California, outlines just how extensive this process can be: “Lock-out at the gate, first late fee, pre-lien and lien letters, lock cut, auction notice, advertisement timeframes and then the actual auction.” These steps aren’t just bureaucratic – they’re designed to give tenants every opportunity to catch up before their items are put up for sale.
At Carefree Covered RV Storage, Regional Manager Dan Brown says this approach is not only standard – it’s the culture. “We go out of our way to work with everyone who is behind in payments,” he says. “People with RVs, boats, and trailers are usually heavily vested in them. We make every effort to get them caught up, and it has worked, reducing the number of auctions held. We know life happens.” Brown emphasizes that every possible route to resolution is explored before considering auction– it’s truly a last resort.
Myth 3: You can inspect the unit before you bid
Reality: You’re bidding blind – with just a peek to go on.
Many assume bidders get to thoroughly inspect units before bidding. In reality, the view is limited to the doorway, either in person or via photos in online auctions.
The main rule is no touching and no digging through boxes. You simply bid on what you can see. That could mean a sealed box full of valuables or one full of garbage. Savvy bidders use clues like visible labels or the condition and the quality of furniture and other visible items in a unit to make their best guess. But it’s obviously a risk, always, especially when several people bid on the same unit, and the price goes up.
Myth 4: You can pick and choose what to take from a unit
Reality: It’s all or nothing – buyers are responsible for everything inside.
Unlike garage sales or flea markets, you cannot cherry-pick items during or after a storage auction. The entire unit is sold as a single lot. Bidders take on everything inside: the good, the bad, and the potentially worthless.
And yes, that includes any mess left behind by the former tenant. Most facilities give buyers a couple of days to clear out the unit. If they fail to do so, they may lose the cleaning deposit they had to pay prior to entering the auction. They can even be charged additionally if they fail to clear up the auctioned unit.
Myth 5: Everything in the unit is yours to keep
Reality: Some items, like personal documents or firearms, must be handled with care.
Technically, the contents of the unit belong to the winning bidder, but there are a few important exceptions. Personal items like family photos, legal documents, and IDs are expected to be returned to the facility. “We hold these items in case the former tenant comes back,” explains Reed.
There are also legal complications with items like firearms or vehicles. For instance, a car may lack the proper title to be resold, and guns may need to be turned over to the authorities.
Myth 6: You must attend auctions in person
Reality: Most auctions are now online, and more competitive than ever.
The old image of a crowd gathering at the storage yard is increasingly outdated. Online auctions have become the industry standard. “The online sales dominate now over the old fashioned, in-person auctioneer,” Haviland says.
Online auctions are clearly more convenient for everyone involved and allow more bidders to participate. Platforms like Storage Treasures and Lockerfox allow buyers to browse multiple auctions at once, often in different cities or states. Online formats also minimize the logistics for facilities and usually have better results, thanks to increased competition and thus higher bids.
Myth 7: Storage facilities profit from auctions
Reality: Auctions recover some losses, but they’re far from profitable
Auctions are not a moneymaker for storage facilities. They’re a financial loss-mitigation strategy. Facilities typically recover only a portion of the rent owed. Industry data from early 2024 shows that operators recouped just 39% of outstanding rent through auctions. Add to that the costs of notices, advertising, and staff time, and the reality becomes clear: auctions are a necessary inconvenience, not a revenue stream.
It’s also important to note that, in the rare chance the auction brings in more than the tenant owed, a refund for the extra money is returned to the tenant.
Myth 8: Storage auctions are held constantly
Reality: In well-run operations, they’re rare – and that’s a good thing
While auctions are common across the industry, their frequency varies. Haviland notes that her properties average one to four auctions per month. “If I only have one unit, I might hold off until the next month,” she says. In areas with reliable tenants, auctions can be rare. “I have one property in New Jersey where everyone but one tenant pays on time every month, and it’s been like that for five years. I have not had to have a sale there.”
The most efficient operations are those where storage auctions are the exception, not the rule. “If your team is working their collections well,” Haviland adds, “you can often only have to have them every other month.”
Thinking of bidding? Here’s what to expect
If you’re thinking about bidding on a unit, here’s what you should know before diving in. On average, winning bids land around $300, according to data from Inside Self Storage, but that varies considerably. Some units go for as little as a few bucks, especially if they look mostly empty or unremarkable. Others, particularly those with visible electronics, tools or furniture, can sell for several hundred dollars or even into the thousands if there’s a bidding war.
Keep in mind that what you see is all you get to go on. You’ll typically be bidding based on a few photos or a peek through the open door. You can’t open boxes or dig around, so there’s always some risk involved. What looks like a promising set of moving boxes might turn out to be old clothes or completely unsellable stuff.
On top of your winning bid, you’ll likely pay a 10% buyer’s premium and a refundable deposit (usually $50–$100) to ensure you clean out the unit shortly after winning the bid. If you don’t, you could lose that deposit or end up paying additional fees. As Reed notes, “Auction winners typically have only 48 hours to clean out the unit or risk paying rent on it themselves.”
Most bidders aim to turn a profit by reselling items, but it’s not guaranteed. Between sorting, hauling, cleaning and reselling, there’s real effort involved. If you do jump in, go prepared and start small.
Storage auctions may not be the gold mines TV shows suggest, but they do represent the final stage in a well-regulated, often compassionate process. More importantly, they spotlight the broader role of self storage: a safe, flexible resource during life’s unpredictable chapters.
Even in the rare event of an auction, storage operators work hard to protect tenants, follow the law and uphold ethical standards. And for the overwhelming majority of renters, storage units are never auctioned – they’re simply a reliable solution when space, security and time matter most.
