The present invention relates to an adjustable rack apparatus that increases the storage, protection, accessibility, security, safety, and organization potential for items packed, for example, utility vehicle beds. The adjustable rack apparatus may be used in conjunction with a storage box that is either fixed to, separate from, or separable from, the adjustable rack. The adjustable rack apparatus comprises a frame, a fixed length rotatable arm, a variable length arm, and an adjustable storage rack. Level substantially vertical movement of the adjustable storage rack is achieved by proper positioning of the fixed length rotatable arms and the variable length arms relative to each other and the frame and the adjustable storage rack. Changing the length of the variable length arm causes movement of the fixed length rotatable arm and level substantially vertical movement of the storage rack.