Storage Unit Auctions
Storage unit auctions are usually advertised in your local newspaper. However you can contact local storage companies and request the dates of the auctions. Billed as being the 'Modern Day Treasure Hunts,' storage unit auctions are held on a regular basis at storage auction facilities through the entire country and so are truly a very worthwhile pursuit? Just about 10,000 storage auctions take place annually. There will almost certainly be some in your area.
Some things commonly found in a storage unit auctions are antiques, cars, boats, books, cameras, furniture, Televisions, vending machines, etc. The good thing about the contents of these units is that if it is good enough for a person to pay to store it then it's usually GOOD stuff.
How do storage units auction work? If a tenant fails to pay his or her rent until the expiration of the contract, the storage facility is mandated by law to put the contents up for auction to the public. The most common storage auction proceeding is called sealed bidding. The bidding public have the chance to take a look at the contents of the unit that is up for auction. After everyone has had their turns in looking at the contents, they can write their bid on a piece of paper including their names and contact numbers and seal it in an envelope. The highest bidder wins and he or she gets to pay up and empty the unit in 48 hours.
Some things commonly found in a storage unit auctions are antiques, cars, boats, books, cameras, furniture, Televisions, vending machines, etc. The good thing about the contents of these units is that if it is good enough for a person to pay to store it then it's usually GOOD stuff.
How do storage units auction work? If a tenant fails to pay his or her rent until the expiration of the contract, the storage facility is mandated by law to put the contents up for auction to the public. The most common storage auction proceeding is called sealed bidding. The bidding public have the chance to take a look at the contents of the unit that is up for auction. After everyone has had their turns in looking at the contents, they can write their bid on a piece of paper including their names and contact numbers and seal it in an envelope. The highest bidder wins and he or she gets to pay up and empty the unit in 48 hours.
Storage Unit Auctions
Once the auction is over, the winner of the unit has a limited 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 additional 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 inform 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.
Often, one bids by a gut feeling about something valuable being hidden from view. And, with some experience you learn to trust your intuition. When you win a mini storage unit auction based upon a hunch later discovering there's a treasure inside, this is the reason that will keep you coming back for more. You never know what you'll find at a storage auction, and it may only cost you pennies on the dollar to purchase it.
Often, one bids by a gut feeling about something valuable being hidden from view. And, with some experience you learn to trust your intuition. When you win a mini storage unit auction based upon a hunch later discovering there's a treasure inside, this is the reason that will keep you coming back for more. You never know what you'll find at a storage auction, and it may only cost you pennies on the dollar to purchase it.
