» self storage auctions

  • The Myth About Auctions
    By Joel on March 8, 2012 | 445 Comments445 Comments  Comments

    There is a common misconception that self storage locations love to have auctions and sell the belongings of others. That can not be further from the truth. When self storage customers sign their lease, the manager on site feels that the customer will honor that lease. The manager is looking to have a good relationship and a tenant that will store for a fair number of years. When this does not happen, it does not make the manager excited because they can auction off the belongings of the tenant. That is another thing that is on the manager’s plate to do.

    On television Hollywood has hyped up this myth about auctions to the point that many people have decided to make bidding on storage units a career. Yes there are some facilities that have units on their property that could have some hidden gems. That is far and few between. People usually put things into storage that they do not want at their home. They do not put their crown jewels or high dollar items in there with the intention of leaving them behind. If there is something of huge value in the self storage unit, then it might be a miscommunication between the storage facility and the customer. No one in their right mind would leave behind treasures for someone to bid on and get no profit out of it, when they could sell their items on their own.

    Now on the other hand, people do just move things into self storage in order to leave it behind. A lot of people believe that it is cheaper to do that than it is to take it to the dump. That is some crazy thinking but unfortunately it is true in some cases. Self storage facilities offer some of their customers a free move in month. Well you can not beat free to move something in and not plan on picking it back up. Then someone else has to deal with it. Imagine the eyes of the prospective auctionees when the self storage unit door is opened to reveal a bunch of things that were just dumped. A lot of times, customers do not store their things all nice and neat. It is just thrown in there.
    There is a hope in the eyes of every person that is at an auction that they will make the big find. They think the these managers are excited to get money for the things that are in these different facilities. The managers rather deal with the customers directly who owned these self storage units. They rather not deal with the attention they get from these different auctions and the bad publicity that comes from selling the belongings of an individual. Do you really think they want to get credit for selling property that was very near and dear to someone? Do you think they want to be the ones to tell someone’s family their loved one’s belongings were sold for $50? To some family members, those belongings are priceless.

    So do not believe this myth about auctions. Self storage facilities want no part of auctions. They just want customers to honor the lease agreement. The manager will try to contact the customer several times before they have to auction off their belongings. Customers can come and try to claim their belongings at the last minute or even at the auction if they desire. They want a person to be able to keep their belongings that they stored. They love it when a customer is storing with their facility for years upon years. That is the kind of things that people do not realized about self storage facilities.

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  • Unpaid Storage Rent Leads to Storage Auctions
    By jeff on March 22, 2011 | 101 Comments101 Comments  Comments

    Lake Sinclair storage units in sunny Georgia have the same kinds of problems other storage units places have in the United States of America.  One of the problems all managers of storage places have is the auction process, or more specifically cutting locks.  New managers do not exactly like this process because we wish all customers would pay their bill on time.  Some do not though, and a process by law and most policies of storage companies have to be followed exactly or you can not cut a lock.  Cutting locks on customer’s storage units is somewhat the beginning of the auction process, but not the very beginning.  We will only discuss the cutting lock phase today and some of the problems that occur.  You do want to try to avoid cutting locks but sometimes it is good to let a customer go through the whole process, if you feel the customer will never pay anyway and it is being strung out by the customer.  Customers who have been through the auction process know how the process works and they will play the game with the managers by hitting all the right deadlines to prolong the process, and they never loose their stuff.  A smart experienced manager will not let this happen over and over again.  When cutting locks the manager must be very careful as not to make any mistakes when cutting this lock, because lawsuits could occur. Do everything right, do not rush the event.  Lawsuits can really hurt a company and put your own job at risk.  Follow the rules.

    Lake Sinclair storage units in sunny Georgia have cut locks too.  The day you cut a lock is very important too.  You can not cut a lock too early in the process or you are just dead wrong.  We used to hold up the daily newspaper with the date of today, the same day you are cutting the lock.  We hold up the newspaper to the storage unit number and the actual lock with the manager in the picture, posing to cut the lock.  Some locks are easy to cut with a quick snip of the bold cutters, some are not so quick to cut, like a disc lock.  Disc locks are those round locks you see in stores.  They are very hard to cut because there is no metal or steel hanging over for the bold cutters to fit in the place to snip them off.

    Lake Sinclair storage units in sunny Georgia have a bolt cutter too.  The bolt cutter is not made for the cutting of a disc lock, and many managers will use a grinder to actually grind the lock down and release the lock.  This takes a little practice, as it is quite hard sometimes to grind a disc lock all the way down so the lock is released and you can take the lock off safely.  We say you should also wear plastic glasses you can buy in a store such as a hardware store of a home store to protect your eyes from the steel being grinded.  Sparks from the actual grinding could fly into your eyes, or a piece of steel could fly into your eyes too.  In addition, the steel gets very hot when you cut it.  Good luck.

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  • How To Profit From A Self Storage Auction
    By admin on April 17, 2009 | 267 Comments267 Comments  Comments

    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.


    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. 


    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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  • Quick Facts About Self Storage Auctions
    By admin on April 14, 2009 | 148 Comments148 Comments  Comments

    Self storage auctions are held by storing space companies in order to recover their losses due to non payment of rentals by the customers. The lease agreements usually have a clause that gives right to these companies to auction the stored goods of the defaulters.  However, before auctioning some companies give a relaxation period to these customers to pay their dues. Those customers who are unable to repay, before the expiry of this period, have to face auctioning of their stored items. 

    Process Of Storing Auctions

    Different states have different laws related to the auctions of cargo space units. These laws may state the conditions of auctioning the goods can be held, the minimum period that should be given to the customers to repay their dues before auctioning, the process of an auction like who is authorized to hold the auctions etc. However, every company should clearly state all their terms and conditions in the lease agreement related to the auction of the stored goods in the event of non-payment of rentals. This is necessary to avoid any legal issues during self storage auctions .

    For holding auctions, the company offering places of safekeeping for rent should first decide the date of the auction. These companies have different options available in this matter. They can either hold auctions once a year or at different time intervals depending upon the defaults. The storing space company should also send a letter to the tenant regarding the auction proceedings. After the date of auction has been decided, the company should place a public notice in newspapers and magazines. The advertisement for such auctions should be circulated at least 2 weeks before the auction of the goods. This notice should state the name and address of the tenant whose units are up for auction and the reason for the auctioning of his items. 

    Store room auctions are of different types. Some states allow auctions to be conducted only by authorized auction houses while in some states cargo space services themselves can hold these auctions. In states where warehouse owners cannot conduct auctions, the owners often label this as garage or public sale. The auctions can either be held for a complete unit, or for individual items. The former is the most widely option used by owners. In this auction, the doors of the cargo space units are opened to the public before the bidding process starts, and the buyers bid for the complete place for safekeeping units. In the second type of auction, individual items are put for auction. Since this is a time consuming process, owners usually avoid it. However, it can be beneficial while auctioning costly items like cars, boats, antiques etc, as people are ready to pay high prices for such items if they are able to see and check them.

    Cargo space companies opt either for sealed bids or verbal bids. In sealed bids, bidders write the bid amount and submit it to the company before the auction, which are then opened on the day of the auction. In verbal bids, bidders verbally tell their bid amount on the auction day. Cash is usually preferred for transactions at auctions.

    In short, if the tenants fail to pay monthly rentals of the store rooms then the auctions are legitimate mediums available with company owners to recover their losses.

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  • Hunting For Self Storage Auctions
    By admin on December 24, 2008 | 126 Comments126 Comments  Comments

    Most of the self storing facilities arrange self storage auctions to vacate the storing units for which the company is not receiving the rents for the last few months. Actually the companies have an enforcement right to auction out these units, as per the State law. These auctions are opened to general people. If you are interested you can buy some valuable items at a cheap price for your usage, or you can resell the item in a higher rate to gain a lump sump. Actually these auctions are a great place to buy valuable secondhand articles for pennies. However, before bidding you must be aware about the quality of the product. If you can deal these auctions with previous experience, then you might gain a lot.

    The procedure of these self storage auctions is not too complicated. You should be present at the place 10 or 15 minutes before the bidding starts. Different facilities have different type of terms and conditions. Here, you have to bid for all the contents of the storing unit. After breaking up the lock to open the door of the unit, bidders are allowed to have a look from the gate of the unit or container. Once all bidders have checked the contents of the unit, then the bidding procedure starts. Bidding starts with the lowest price for the unit, sometimes it could be even 1 dollar. The unit will be sold to the highest bidder.

    The storing facilities normally accept cash as a payment method for self storage auctions . You might have to pay sales tax, if you do not have a valid license for reselling. The winner of the bidding system is finally responsible to clean up the unit thoroughly. He should take anything and everything the unit has. The storing facility will specify maximum time duration to free up the unit by the highest bidder. If the unit is not vacated by that time, the property manager will take necessary steps to clean up the unit, so that they can rent the unit to some other prospective customer.

    At the self storage auctions , you never know what you are going to get, even if you buy the unit. Though the bidders are allowed to have a look into the unit, in that short amount of time it is really difficult to guess about the contents of the unit, especially if all the contents are packed up in multiple boxes. You can find household articles, clothing items, jewelry, antiques or collectibles. If it is a bigger unit, then there is a high chance of finding the articles of 2 to 3 bedrooms. This stock could include electronic items, various type of furniture, dresses, furnishings etc. However, you might even find all garbage, if you have such a hard luck.

    All these self storage auctions take place with prior notice in local newspaper. So, if you are interested, then keep on looking in the particular section of the newspaper. You can also search the internet to find out about the schedules of auctions. However, the web sites may not contain updated information. So the best way to be informed is by calling the company. In your local neighborhood, you may find a specific newsletter, having information only on the auctions. If you are going to invest on auctions and planning to use the products for reselling purpose, then you might subscribe this newsletter regularly.

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