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How To Profit From A Self Storage Auction

  • A self storage auction is a great opportunity to get some valuable items at dirt cheap prices. Most warehouse owners auction the units of the tenants who have been defaulting on payments for long. In order to recover their monthly rents, the storeroom companies put such units on auctions. Though these auctions are very painful for the tenants who lose their items, they are useful for the bidders. Buyers are sometimes able to grab great deals. These auctions are particularly useful for individuals who are in the business of selling used goods, like owners of auction sites and people who hold garage sales.

    A storing unit auction usually involves auctioning the all the items placed in the cargo space units. The store unit doors are opened before the bidding process to allow the buyers to peep inside. However, no one is allowed to touch the stored items. The buyers are sometimes not able to see anything, as everything is stored inside boxes. If you are lucky, you may be able to get something valuable at very low prices. These units are sometimes auctioned at very low prices, as low as 10. However, till the time you open the boxes you do not know what is in store for you.

    If you want to grab mind-boggling deals at a self storage auction , here are few tips for you.

    Research

    A little bit of research will prepare you for a winning deal. Once you have decided to attend an auction, find out the types of customers of that storeroom facility. This will give you some idea of what you can expect to find in those boxes. It is always best to attend auctions in prime areas that have good clientele, as it increases the chances of getting good stuff.

    Terms And Conditions

    You should understand the terms and conditions of the auction before attending it. You should inquire about the mode of payment acceptable at the self storage auction . Also, find out the maximum time that the storehouse gives to vacate the unit after the bidding. Some storehouses are in quite a hurry to get the storeroom units vacated. So it is best to check all such terms and conditions before bidding.

    Check Units Carefully

    It is advised that you should arrive at the auction before the scheduled time. This way, you get sufficient time to have a look at the items, boxes or the units before the bidding starts. It is important to have a good look at the stored items. You should look at the labels on the boxes. Often, people put labels and tags on the boxes for an easy access while storing them. These labels can give you a clue about the items stored in these boxes. 

    Bids

    You should bid at a store room unit auction only if you think you can get something that has good resale value. Sometimes these boxes contain nothing more than used Christmas decorations, old toys and other useless stuff. Hence, you should be careful while bidding.  Avoid bidding if you feel that you are going to get nothing.  Always follow your instinct

    In short, a storing place auction can be useful for people planning to make some money through resale of auctioned goods. However, you should always approach such auctions cautiously otherwise you may end up losing money.

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    Disclamer: This entry is intended to promote our partner StorageMart and some or all participants received compensation.