In my Wholesale Buying System, I talk about storage locker auctions. Basically, after an account is 90 days in arrears, the storage facility will offer the contents at auction. These are usually advertised locally and happen once about a month. The facility owner will cut off the lock in the presence of the potential bidders who can then look inside the locker at the contents. They cannot enter the locker, or open any boxes. Everything is sold “as is” so it’s up to you to decide what it is worth based upon what you can see and labels on the boxes (if any).
In Los Angeles, one of these auctions took a turn when the buyer of a particular storage locker contents discovered the previous owner was Paris Hilton. According to the Washington Post, Hilton’s publicist said there had been a mix up and payments had not been credited to her storage locker account as they should have been. Either way, one lucky guy is now in the possession of personal diaries and tapes of Paris Hilton. It is unknown how much he paid for the locker contents, but most storage locker auctions go for between $75 and $500.
Because of the nature of the items, he cannot sell them on eBay, but he has enlisted the help of David Hans Schmidt (who has brokered many deals to sell celebrity porn) to sell the diaries and videos. And the starting price? $20 million. Not bad for a storage locker auction.
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