Renting a Storage Unit?

[LegoFink]

Greetings:  Are any of you renting a storage locker for your sets?  I'm contemplating it as there is one right up the street from me, but I don't really like the idea of it eating into my profits

[spener90]

Greetings:  Are any of you renting a storage locker for your sets?  I'm contemplating it as there is one right up the street from me, but I don't really like the idea of it eating into my profits

Many have contemplated it.  I feel it wouldn't be a very good idea.  Largely because you don't know how much time it will take for you sets to mature in value.  How many sets are we talking here? What kind of turn around time are you planning?

[jaisonline]

Greetings:  Are any of you renting a storage locker for your sets?  I'm contemplating it as there is one right up the street from me, but I don't really like the idea of it eating into my profits

 

forget it unless you're doing $100k in sales per year. not worth it.  find space in your house / apartment.   you also need to worry about insects, mice, rats, water damage, etc...   you'll also pay for double insurance (the storage unit and collector's insurance)

 

 

with more Lego investors today then years past, every dollar saved matters.  if you save 3-5 dollars per set (per year) by not doing storage, than maybe you can offer items cheaper than competitors which could be the deciding factor how fast your sets sell.

 

I have major cash invested. If anyone needs a storage unit, I do now.  However, I decided to rearrange one area of my house and install shelving units (Tall, wide, and deep).  Now I store many more sets than before.  Once we can toss my daughters baby / toddler stuff as she grows older (and I begin selling sets this holiday season), I'll have more room again.

[colm9999]

Greetings:  Are any of you renting a storage locker for your sets?  I'm contemplating it as there is one right up the street from me, but I don't really like the idea of it eating into my profits

as every one else said about the insurance it wouldn't be worth it and if u stop the payment it would be on storage hunters or something so it wouldn't be worth it

[LegoFink]

Thanks All!  You confirmed what I was already leaning towards. 

[sadowsk1]

I once stored Lego temporarily in a storage unit during a move.  Unfortunately there was a hard rain and the unit took on water.  More unfortunately the insurance company refused to reimburse me for the water damaged boxes because they said the contents were still good.  While this wasn't entirely true they stonewalled me and it wasn't worth it to fight tooth and nail over a couple of boxes.  Kind of a shame, oh well, live and learn.

[spener90]

I once stored Lego temporarily in a storage unit during a move.  Unfortunately there was a hard rain and the unit took on water.  More unfortunately the insurance company refused to reimburse me for the water damaged boxes because they said the contents were still good.  While this wasn't entirely true they stonewalled me and it wasn't worth it to fight tooth and nail over a couple of boxes.  Kind of a shame, oh well, live and learn.

Ouch. That's a bummer.  What sets did you lose? Some sets the box condition is very minimal, others it is everything.

[LegoFink]

I once stored Lego temporarily in a storage unit during a move.  Unfortunately there was a hard rain and the unit took on water.  More unfortunately the insurance company refused to reimburse me for the water damaged boxes because they said the contents were still good.  While this wasn't entirely true they stonewalled me and it wasn't worth it to fight tooth and nail over a couple of boxes.  Kind of a shame, oh well, live and learn.

Wow...that stinks!  Sorry to hear that you went through that.  Were you able to make anything off of them?  Did you part them out or just sell them without the box or with  damanged box?

[DoNotInsertIntoMouth]

Greetings:  Are any of you renting a storage locker for your sets?  I'm contemplating it as there is one right up the street from me, but I don't really like the idea of it eating into my profits

 

I will say that this can be an ok thing if you don't have a lot of space and you have a serious amount of sets and can find the right place. Having stuff aroudn the house is easier to find though - I would hate having to dig through a storage unit to find a smaller set. Lol

[jaisonline]

I once stored Lego temporarily in a storage unit during a move.  Unfortunately there was a hard rain and the unit took on water.  More unfortunately the insurance company refused to reimburse me for the water damaged boxes because they said the contents were still good.  While this wasn't entirely true they stonewalled me and it wasn't worth it to fight tooth and nail over a couple of boxes.  Kind of a shame, oh well, live and learn.

 

which insurance company?  the storage unit?

[sadowsk1]

Wow...that stinks!  Sorry to hear that you went through that.  Were you able to make anything off of them?  Did you part them out or just sell them without the box or with  damanged box?

I just kept them all.  It wasn't a whole lot of sets or anything super awesome, just kind of shame I had to find out the hard way.

 

 

which insurance company?  the storage unit?

It was mandatory to purchase the insurance that covered the storage area to protect the storage company so they wouldn't be out the money.  I think it was kind of like purchasing the insurance that covers a moving truck I think.