January 28, 2008
Markets in Unclaimed Baggage

Ever wonder what happens to the stuff airlines lose or people don't pick up? You can buy it at the Unclaimed Baggage Center in Scottsboro, Alabama.

Unclaimed Baggage is a one-of-a-kind store snuggled in the foothills of the Appalachian Mountains and bordered by the 70,000 acre Lake Guntersville. Founded in 1970 by Doyle and Sue Owens as a part-time business, it soon became a full-time venture. In 1978, the Owens incorporated the company and watched it prosper as one of the great 'hidden' bargain centers for savvy shoppers.

In 1995, Bryan Owens, son of the founder, acquired Unclaimed Baggage and directed the expansion which includes the current contemporary retail store that covers more than a city block. The store has many amenities including a Concierge Desk to help guests and Cups Espresso Café - serving Starbucks Coffee and Dippin Dots.

Over one million items pass through the store annually. About 60% of the merchandise is clothing with the balance of the store dedicated to cameras, electronics, sporting goods, jewelry, designer optical, books and of course, luggage. The vast majority of items are from unclaimed baggage which, after at least 90 days of intensive tracking by the airlines, are declared unclaimed. However, unclaimed cargo is also available throughout the store.

They've found some cool stuff over the years.

Posted by Robert Lawson at 10:25 AM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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