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Home > Blog > Things You Should Know about Self-Storage Auction!

Things You Should Know about Self-Storage Auction!

By admin | March 16th, 2015 | Leave a Comment

Looking for deals at a fraction of their original costs? Self Storage Auctions is a great time for customers to snag deals at cheaper rates. These auctions are held when existing customers fail to make prompt payments for a number of months, which results in the self-storage companies in repossessing the unit and auctioning items of the interior to minimize their lose. Self-storage is different from any normal storage facility as the unit consists of personal belonging and can potentially be priceless.

Here are some facts of a Self-Storage Auction:-

  • Information with regard to the storage auction will be published in the media, most commonly in the newspapers. This helps the buyers to know what exactly the auction is about.
  • There is a possibility to receive high returns on “investment”. Some storage units may be auctioned off for just $10 but the contents in them could be worth $1000 and people could sell them on ebay.
  • Storage auctions do not accept cards; they take only cold hard cash. Some may require people to pay on the spot while some allow them to pay at the end of the day.
  • Self-storage auctions have “see but no touch” rule. Potential customers can only look at the contents and make their own judgment, deciding on the amount to pay for what they think the contents are worth.
  • Since the exact contents of the auction along with price range is unknown, expect a number of treasure hunters to turn out for the event to try and snag for something priceless. If they spot something valuable, expect a bidding war amongst each other.
  • After winning an auction, everything inside the unit is yours. Before you bid for one, make sure you are prepared for anything that can possibly be inside the unit.

Self-storage auction is a win-win situation for both the self-storage facility owner and you. The owner can recoup some of his losses while you can get a self-storage unit for a low price. But people should be mentally prepared to clear all the junk that would accompany the auction goods.

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