When do storage units go up for auction

Once everyone has arrived and signed in, the sale can begin. The property manager and the auctioneer if one is present will lock up the office and head to the storage units. They will open the first unit and allow the buyers to inspect the contents, but not enter them. After a few minutes, the bidding will start with a minimum bid set for each individual unit. The auctioneer will allow bidding to go on, and give enough time for the final bid to be announced.

Once the bidding stops, the unit is sold to the winning bidder, and the auctioneer must lock the storage unit. Then they move on to the next storage unit. No one can enter a sold unit until the complete auction concludes at that location. Once the auction concludes, buyers head to the rental office and pay cash for the storage units. The buyers receive a receipt and an access code to enter the property. Typically, all storage units purchased at auction must be cleaned out within 48 hours.

All units purchased must be completely emptied and swept out. The buyer may also sign a rental agreement for the unit and keep the space as long as they need. There is one exception that can occur from time to time. This happens only if personal items were found inside the contents while the buyer was cleaning out the storage unit.

We ask that any photographs or personal documents found in the storage unit are either left in the unit after it has been fully cleaned out otherwise, or turned in to the property manager. If we receive any items like this, we will hold on to them for 30 additional days after the auction. During that time, we make attempts to reach the tenant to come by and collect them. We understand items like this are irreplaceable, and we want to make every attempt to return them to the rightful owner.

Another thing to keep in mind is that what you see on TV is not a reality in most cases. It is a very rare occasion to find something of extreme monetary value inside an auctioned unit. That adds up to a large number of auctions to make one show! The tenant and the self storage facility have a contract in place that sets the terms for late or missing payments.

Truth: Storage auctions are unlike traditional auctions. At a traditional auction, items are highlighted individually and sold separately. However, at a storage unit auction, the entire contents of the storage shed are sold together to the highest bidder. While on TV there is always a very valuable collectors item hidden in the unit, in real self storage auctions that just is not the case.

Truth: As a bidder, you have the chance to check out the storage units being auctioned, but you can only view them from the front entrance.

Truth: The highest bidder usually has up to two days to clear the entire unit. This process must be quick because self storage facilities need to make space for new tenants. Truth: Storage auctions are also held over the internet. Sometimes these websites also highlight prominent items that appear to be in the unit. The advantage of participating in an online storage unit auction is that you can take part in multiple auctions at once and search the web for the value of content in real-time.

Truth: The auction winner is the legal owner of the items in the extra space storage unit except for personal legal documents like passports and legal records and mementos like photographs. The rest of the proceeds from the auction get sent to the tenant if their current contact information is on file.

Looking for storage near me? Find your closest Bargain Storage facility. And, while most storage units up for auction contain common household items such as furniture, clothing or paperwork, there have been some valuable finds at storage auctions across the world.

Want to find out when our next storage auction is? Why not follow us on eBay? If you have any concerns or worries, please take a look at our terms and conditions page or get in touch with a member of our team now. Decluttering Your Home Storage Auctions: what are they and how do you find them?

June 22, twitter facebook linkedin email. What is a storage auction? How do I find a storage auction? How does a storage auction work? This will prevent you from making any last-minute decisions or bidding on too many units at once and becoming overwhelmed.

Pay attention to the contents: even if you only have access to a photograph of the unit, take note of the type of box or storage within it, and if there are any larger items visible. If everything is packaged more securely, or in matching or sealed boxes, chances are the items have been taken care of, and may even be of a higher value, while anything large and valuable can easily be sold. The most valuable self storage auction finds Fans of Storage Hunters and Storage Wars will be familiar with the exciting prospect of hidden treasures lurking in abandoned units.