STORAGE UNIT AUCTIONS

1. Do your research and find out what is valuable and collectible and what are real antiques and fakes.  Most people past buy big money as they dont know what they are looking for when you get your time in front of the locker Pre Auction.  This tip can make the difference of pro and rookie riches or collecting junk.

2. The items you find how and where are you going to sell them for cash.  The trick is having MULTIPLE ways of selling them and get cash fast. The key is buy the locker, scrub the locker to find any valuables and sell and get cash to buy more lockers.  Set up a funnel of retail options to sell your goods.  Whether its online at ebay or the swapmeet or to a consignment store or a book of collectors that you give first option of buying items.  FIND YOUR FUNNEL.

3. TAKE YOUR TIME. Play your position and do not go beyond what you are ready to do.  Do not overspend and have a gameplan going in to EVERY AUCTION.

HAPPY HUNTING.

A storage unit auction is advantageous in that it enables you to get different items at a discount. These auctions are conducted by facilities that offer storage services for storage units that are abandoned without rent payment for a pre-determined period. Such an auction is held by a storage company to regain the money owed in terms of rent.

A storage unit auction does not happen when a storage company feels like conducting one. These auctions are controlled to protect the rights of item owners and there are therefore elaborate procedures that have to be followed before the disposal of the items. These procedures include the sending of letters to the tenant of the storage units, warning them about the consequences of failure to clear their rent. If tenants do not turn up, storage companies then place classified ads about the auctions. Different governments specify the time frame between the classified ads and the sales. A tenant can stop an auction any time before the sale by clearing the rent arrears.

So, how do you take part in such an auction? A storage unit auction could be open/public bid auction whereby the abandoned units are opened and those who are interested are allowed to walk around them to look at what is held inside. You then write your bid on a paper, indicating your name and your contact information. The person with the highest bid gets the unit and he/she then pays the storage auction money and gets everything from the storage unit, usually within 48 hours. You could also participate in a live auction. With this option, you get to look at what is in the unit. Live bidding is then conducted with the bidders trying to outbid each other, just like is the case with a public auction. Yet another bidding option is the sealed auction. With this option, you do not get to look at what is inside the unit. The contents of the unit will only be revealed to the highest bidder after he/she has paid up.

If you are a businessperson, you could benefit greatly from a storage unit auction. The greatest advantage of such an auction is that you will get potentially valuable items for a fraction of their value. You could sell the items in your business, sell them in an e-commerce site, or sell them in online marketplaces such as eBay.

A storage unit auction is advantageous in that it enables you to get different items at a discount. These auctions are conducted by facilities that offer storage services for storage units that are abandoned without rent payment for a pre-determined period. Such an auction is held by a storage company to regain the money owed in terms of rent.

A storage unit auction does not happen when a storage company feels like conducting one. These auctions are controlled to protect the rights of item owners and there are therefore elaborate procedures that have to be followed before the disposal of the items. These procedures include the sending of letters to the tenant of the storage units, warning them about the consequences of failure to clear their rent. If tenants do not turn up, storage companies then place classified ads about the auctions. Different governments specify the time frame between the classified ads and the sales. A tenant can stop an auction any time before the sale by clearing the rent arrears.

So, how do you take part in such an auction? A storage unit auction could be open/public bid auction whereby the abandoned units are opened and those who are interested are allowed to walk around them to look at what is held inside. You then write your bid on a paper, indicating your name and your contact information. The person with the highest bid gets the unit and he/she then pays the storage auction money and gets everything from the storage unit, usually within 48 hours. You could also participate in a live auction. With this option, you get to look at what is in the unit. Live bidding is then conducted with the bidders trying to outbid each other, just like is the case with a public auction. Yet another bidding option is the sealed auction. With this option, you do not get to look at what is inside the unit. The contents of the unit will only be revealed to the highest bidder after he/she has paid up.

If you are a businessperson, you could benefit greatly from a storage unit auction. The greatest advantage of such an auction is that you will get potentially valuable items for a fraction of their value. You could sell the items in your business, sell them in an e-commerce site, or sell them in online marketplaces such as eBay.

Storage unit auctions are a great way to get hold of various items at a low price. These auctions are held by storage unit facilities for abandoned storage units. The company that runs the storage unit facility holds the auction when a storage unit tenant fails to pay their rent for an extended period. The auction is held with the aim of regaining the money they would have had from renting the property to the tenant.

Storage unit auctions don’t just happen when the storage unit facility feel like it. There is a procedure that must be followed. First the tenant must be contacted. Several letters are sent to the tenant warning them of the consequences of leaving abandoned storage units. If the tenant does not respond in a set period of time, the company places advertisements in the classifieds section announcing the impending storage unit auctions. The advertisements must run for a period specified by the government of the state or the country. The tenant is given an opportunity to stop the auction by paying the rent arrears.

If the tenant doesn’t react to the advertisements that auction is given the green light. The tenant however has the right to stop the auction even just before it begins. However, if the tenant fails to do so, the auction can go on as scheduled.

There are different types of storage unit auctions. There are sealed bid auctions in which the abandoned storage units are opened and the bidders are allowed to walk around and take a look at what is inside the storage unit. The bids are written on a small piece of paper together with the name and contact information of the bidder. The highest bid is awarded the items in the storage unit. This person is then required to pay the storage auction money within 48 hours and remove all the items from the storage unit within that period.

A live auction is much like a public auction. Once again the storage unit is opened for the bidders to have a look at the contents. Live bidding then begins and the person with the highest bid is awarded ownership of the contents. Like the sealed bid auctions, the storage auction money must be paid within 48 hours.
The final type of storage unit auctions is the sealed auction. The storage unit is not open for viewing and the contents are only reveled to the highest bidder upon payment of the storage auction money.