Storage unit auctions occur when storage unit owners sell off the contents of a storage unit on which the renter has failed to pay rent. Since habitancy store all types of things in these units, there's no telling what you will find in storage. However, they will often include furniture, antiques, camping equipment, or other valuables, as well cars, boats, tools and collectibles. You can usually find more than just what is listed inside the unit.
All Sales are Final
Storage Boxes
Storage units usually hold auctions on a monthly basis, and attending an auction can be an captivating experience. For example, many storage unit owners only allow you to peek inside the unit from the outside. This makes it nearly impossible to find out what is inside the unit. Of course, this can make bidding on a storage unit a risky decision, as all sales are final no matter what the contents of the unit are worth.
Sometimes, listed units may not be available at the time of the auction. This usually occurs because a renter makes a last little cost or arranges with the storage unit owner to pay later.
Transporting Unit Contents
Once the auction is over, the winner of the unit has a little time to clear out the contents. This time will usually vary from between a few hours to a few days. Sometimes a unit owner will allow you to pay an supplementary storage fee to allow for more time, but usually the units must be cleared out by the end of the day. Most unit owners will tip off you of the time allotted before the auction begins. The easiest way to assure that the contents will be out in time is to rent a box truck.
Unit Items
The contents of a unit can be a complete mystery, but there are a few tips to ensure that you get the best opening of bidding on a profitable storage unit.
• When given the opening to look inside a unit, pay attention to any markings on boxes, the condition of the boxes, and logos on the boxes.
• Covered furniture can often be an indicator that the piece is valuable, or is at least an antique.
• Labeled boxes can often help determine if the unit is worth bidding on. You may not want to bid on a unit full of photo albums.
Turning a Profit
Location of a storage unit can often be a large indicator of the value of the contents within a unit. storage clubs in firm districts may include units with manufacturing tool or other firm supplies. storage units in wealthier neighborhoods may include valuables such as art, antiques, or other collectibles.
There are numerous avenues in which to sell off whatever you might come across in a unit. The easiest would be online auction websites such as eBay or Auctivia, but taking your loot to a pawnshop may also be an easy way to turn a profit.
So you might want to check out your local storage auctions, as they will usually offer captivating treasures. Because due to the risk of the unknown related with bidding on a unit, you can often make tremendous profits from repeated bidding.
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