$500 Bucks Storage Unit Purchase Nets $7.5 Million Cash

500 Bucks Storage Unit Purchase Nets 75 Million Cash

MAN BUYS STORAGE UNIT FOR $500 BUCKS, FINDS $7.5 MILLION

Go out and dance with lightning in a blizzard.  That’s one comparison to your chances of winning the lottery.  But for one man, all he had to do was buy a storage unit for $500 bucks.  Are you familiar with the tv show Storage Wars?  It features the drama and suspense for the people who purchase the rights to storage units that have been abandoned or for lack of payment.  They just get a glimpse of what’s inside and then bid against others in auction.  While this isn’t about the show, this unit was sold to a man for half a grand by American Auctioneers.  Dan Dotson, the show’s star, owns American Auctioneers! But Dotson clearly had no idea the storage unit held $7.5 million!  That was some purchase.

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STORAGE WARS OWNER SOLD THE STORAGE UNIT, BUT OFF-CAMERA!

Dotson relayed the story recently.  He was at a charity event early last month when a woman approached him.  According to Dotson, “She said, ‘I just gotta tell you this story, my husband works for a guy that bought a unit from you and there was a safe in there.’”  Oh, but what was in the safe?  The $7.5 million, of course.  But unfortunately the original auction for this unit isn’t on tape for Storage Wars.  So Dotson explained the story on a YouTube video.  Obviously, whoever originally owned the unit was none too happy when they heard.  They didn’t just lose the unit.  They lost the big pile of moolah.

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ORIGINAL OWNERS BUY OFF $500 GURU WITH $1.2 MILLION

So after they heard someone else bought the unit, they tried to recoup their loss.  They had a lawyer reach out to the new owner to make a deal.  Because they wanted their money back!  They initially offered $600,000.  If that seems like a low offer, you’re right.  But that’s how deals begin, low heading to middling.  They ended up all settling for $1.2 million.  So the new owner paid $500.  He ended up making 2,400 times his initial investment!  Now that’s a tidy profit if I ever saw one.  And no, I didn’t buy Apple stock at .2 cents per.  But I might go out looking for lightning in a blizzard.

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