Storage Auctions

500K in Pirate treasure

500K in Pirate treasure
« on: November 14, 2011, 12:18:22 PM »
Be prepared for the new wave of storage buyers. Just saw on TV at lunch (either FOx news or CNN, can't remember) a story about someone who found 500K in old gold and silver "pirate" treasure in a plastic tote in a storage unit. The auctioneers from Stroage Wars were on there tellilng the story. They apparently auctioned off the unit. Same people bought 2 units: one for $1100 and one for $600 and the 500K in gold and silver was in one of them. As soon as this story gets more airplay, another round of get rich quick fortune hunters will be back out.
Just when things were starting to settle down a little.

Offline MovieMan

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Re: 500K in Pirate treasure
« Reply #1 on: November 14, 2011, 03:46:08 PM »
As soon as this story gets more airplay, another round of get rich quick fortune hunters will be back out.
Just when things were starting to settle down a little.

I believe you are right, and I THINK this is the story that will get play on NBC's Today Show on Tuesday, November 15, 2011. My friend told me about Storage Wars being scheduled  on Today for that date and I would be willing to bet the pirate treasure is the reason.

Why, oh why, can't the stupid "newbies" understand that this is so rare it's unbelievable?


Offline money4nothing

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Re: 500K in Pirate treasure
« Reply #2 on: November 14, 2011, 03:57:48 PM »
Please say it ain't so.....

Will be rough in my neck of the woods.

Re: 500K in Pirate treasure
« Reply #3 on: November 14, 2011, 04:53:57 PM »
Even though this is not good for anyone who buys lockers to make a living, dont stories like this make the hunt all that more enticing?

Something similar to people playing the lottery. The few that win keep the rest of'em buying!

Offline money4nothing

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Re: 500K in Pirate treasure
« Reply #4 on: November 14, 2011, 05:06:41 PM »
Even though this is not good for anyone who buys lockers to make a living, dont stories like this make the hunt all that more enticing?

Something similar to people playing the lottery. The few that win keep the rest of'em buying!

Yes but my reality is look where you live. I don't think anybody in my area would have something like that stored away... Could happen but highly unlikely. Unfortunately from the Nod's I saw last week this is not going to be pretty. Maybe they don't watch the news. :)

Offline MovieMan

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Re: 500K in Pirate treasure
« Reply #5 on: November 14, 2011, 05:08:40 PM »
Even though this is not good for anyone who buys lockers to make a living, dont stories like this make the hunt all that more enticing?

Not for professional buyers it doesn't, and the rest are foolhardy if they think they'll even come close to that kind of score.

Something similar to people playing the lottery. The few that win keep the rest of'em buying!


Again, anyone with half a brain won't buy a lottery ticket just because there's a chance of winning. The odds of winning more than a few dollars in a lottery are astronomical. I imagine that's why the "numbers" racket was once seen as a scam run by the mob.


Offline jrossjr79

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Re: 500K in Pirate treasure
« Reply #6 on: November 14, 2011, 06:35:11 PM »
Looks like I will be taking an extended vacation :(

Re: 500K in Pirate treasure
« Reply #7 on: November 14, 2011, 10:50:01 PM »
ARRRRRRRR!

Offline money4nothing

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Re: 500K in Pirate treasure
« Reply #8 on: November 15, 2011, 03:16:56 AM »
Dan & Laura Dotson, co-founders of American Auctioneers, are scheduled to appear on NBC's Today Show Tuesday morning, November the 15th.
Was sent to my email....

Offline Boxlot

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Re: 500K in Pirate treasure
« Reply #9 on: November 15, 2011, 06:54:57 AM »
Well I think the timing of this is just right. The new season of storage wars kicks off tonight. What a great way to promote the show than to talk about a $500,000 dollar locker. Of course this will also have the auctions packed and price will go up. At the same time I have yet to see a $1,000 locker never mind some of the $5,000 ones that are on the shows.

Offline Cobia

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Re: 500K in Pirate treasure
« Reply #10 on: November 15, 2011, 07:04:51 AM »
Well I think the timing of this is just right. The new season of storage wars kicks off tonight. What a great way to promote the show than to talk about a $500,000 dollar locker. Of course this will also have the auctions packed and price will go up. At the same time I have yet to see a $1,000 locker never mind some of the $5,000 ones that are on the shows.

Do you mean you have never seen a locker go for $1000 in your area, or you have never seen a locker you thought was worth bidding $1000 on.

In my neck of the woods we are hitting $1500 - $2000 on some lockers pretty consistently now.

Re: 500K in Pirate treasure
« Reply #11 on: November 15, 2011, 07:11:15 AM »
Think in Boxlot's context he is talking about a locker that has $1k and $5k "worth" in it.  Not how much it sells.  As for me I've seen 2 lockers now sell for 1k.  The most recent I know was worth more then the 1200 that was paid.

I'm just glad I don't have any auctions this week.  Maybe by next week people will of done moved to the next biggest thing.

Offline Cobia

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Re: 500K in Pirate treasure
« Reply #12 on: November 15, 2011, 07:16:38 AM »
Looks like I will be taking an extended vacation :(

Just get back in the game, it's kinda fun now knowing you can run up noobies and not get caught! They just won't quite in my area, especially towards the end of the day/auction trail.

Right now the pattern seems to be get unit or two early in the day, especially first location, before all the noobie juices start flowing. Granted there is no guarantee there will be any good lockers early, but around here, if you wait till a good locker comes up you are going to pay retail or worse.

Offline Boxlot

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Re: 500K in Pirate treasure
« Reply #13 on: November 15, 2011, 08:30:46 AM »
I have not seen a locker hit $1,000 yet.   There have been $700 & $800 lockers but that is as high as they get.  Crowds vary from 10 to 60 bidders.

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Re: 500K in Pirate treasure
« Reply #14 on: November 15, 2011, 08:40:00 AM »
Oh I will be as soon as I can. Lost alot of my money due to personal finances that I end up picking up when my wife quit her job, wasnt a move I was ready to take on just yet. That plus a bad locker and slow sales wiped me out. And now everytime I think I am about to get ahead with my personal finances, something comes out of left field and smacks the hell out of me. For instance I just went to court yesterday, and I find out I got to shell out alot more money on top of my usual child support payments or get locked up.

So yes I still have all my motivation, even more so now, lol. But My financial obligations come first. But I have several new avenues I am soon to take. One is I may have found an investor, we will be hammering out the details here soon. Then my mother in-law's boss is buying another house and going to let me move in, it will be 50 dollars less in rent, full of stuff that I can sell, will also be making a little extra fixing up the house, plus first month will be rent free. So giving all that, I am hoping to get out there before Tax season. If I dont make it out there before then, well then I will be waiting till around June or July.

I have not seen a locker hit $1,000 yet.   There have been $700 & $800 lockers but that is as high as they get.  Crowds vary from 10 to 60 bidders.

I have seen only two lockers with the value that it be worth spending a grand on. Sadly I was outbidded on both. Damn hate when I dont bring enough cash. First one was full of collectibles, first day out. Auctioneer opened it up and asked if anyone had any offers, first bid out was 1,000. No one bidded against him on it. Next locker I saw was something like a mechanic shop, I am guessing they used the storage as a makeshift engine over haul shop. Had loads of hand tools, a big compressor (the one that stands liek 6ft tall), two cherry pickers, one engine stand with a engine on it, another engine laying on the ground, and loads of engine parts still boxed up. I dropped out at $1,200. All the money I had on me that day, it sold for $2,600.


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