I have been watching Storage Wars for a while now, for those who don’t know what Storage Wars is, it is a reality TV show by A&E about bidding on lockers which may or may not contain valuable items to be sold later.
Now, I’m not here to discuss whether this TV program is staged or not, as there were some allegations about the illegitimacy of it.
Frankly, I had no idea about this line of business, other than eBay here and there and that’s it, however, I was intrigued by the way they are presenting the auction, the historical values in some of the items, the competition, the tricks, the psychological factor and most importantly: the profits.
In on the episodes, Dave Hester went home with almost $15K, think about it, spending like a thousand bucks to multiply your profit by 15X in less than an hour. I’m neither a financial manager nor an accountant, but I can tell you this is some lucrative stuff!
Personally, in spite of the possibility of scoring such profits from time to time, I don’t believe it’s THAT easy, so why are they luring us to get excited to march in throwing money left and right in hopes to find some item that belongs to the 15th century and sell it for $$$? I’m not going to lie, they were alluding from the get go that if you have some cash and you have the eye, you will be a millionaire in no time, I got so attracted to this idea that I even started to search online for everything from flee markets to actual auctions.
Taxes my friends, taxes are the main reason for this show -other than the obvious goal which is producing a hit TV show and pour money into A&E’s bank account-, think about it, encouraging the masses to go and get these lockers off the banks’/government’s hands + paying them taxes, it’s a win-win situation, not to mention the auction house’s fees which also leads to more taxes!
I’m not here to discourage people from exerting efforts to ace this line of business by any means, I’m just expressing some thoughts about Storage Wars itself.
P.S: I’m in love with this show!