How Online Storage Auctions Work: Your Guide To Great Bids

online storage auctions

What Are Online Storage Auctions?

An online storage auction is an auction involving defaulting automatic storage units. Typically, tenants fall behind in their payments or leave items behind causing a default. Each state requires a certain amount of delay before the unit can be auctioned, typically within 30 to 90 days.

Defaulting storage units are then auctioned for the highest bidder to recover the rental fees the storage company has lost. All items are sold in bulk like the entire unit, not sold separately. With the mass price of the units, their chances of making a profit are high, leading thousands of people to participate.

How Do Online Storage Auctions Work?

Regardless of which site you choose for your first bid, online storage auctions are similar across the board. When you start your search for the first time, you’ll notice a few things about each drive listing right away:

A selection of photos: Each listing will include a photo of the storage drive or maybe even some, depending on the contents of the drive.
Remember that the storage drives that are full will include content that you cannot see. This is why it is important to read the listing carefully before bidding.

A time limit: Each auction will only last a certain period of time. This time limit varies according to the website and the wishes of the storage company.

Description: Each unit will have a description of what appears to be included in the listing. The auction company or storage company will do its best to communicate an accurate representation of what is available.

Location: The location of the storage unit will always be listed with the company name. Some sites also include the storage company’s time schedule so that you can guarantee withdrawal.

Capture time limit: You only have a certain amount of time to clean your storage drive. This varies depending on the company of the storage drive and most is only 48 to 72 hours after purchase.
Some other things to keep an eye on are a cleaning deposit, the size of the drive and the value of the current bid. During the auction, bidders will bid and withdraw until the auction ends and a winner receives the unit.

Bidding for the First Time

First thing first, you need to choose a platform or a website. Most sites require you to sign up before bidding. After that, you’re ready to go.

When searching for a drive, be sure to re-check the location and content to ensure it’s exactly what you’re looking for; there’s no way back after you buy a storage drive. Once you find a drive that you’re happy with, you’re ready to make your first bid.

Most auction bids occur in increments each time, which means that you cannot place a bid that is only $1 higher than the previous bid. Most sites require a minimum bid of $10. You can stick around and bid manually or you can choose to place a proxy bid, that is, set a maximum bid and the system bids to keep it at the top until it reaches your maximum bid. Setting a proxy bid allows you to continue with your daily tasks without checking the auction too often.

You will continue to bid until you reach the maximum or until you win the unit. In case of your win, you will need to take the necessary steps to pick up your items and pay for your unit. Most companies will require a cash payment at installation; however, some allow you to pay with a debit or credit card.

Be sure to pay for your unit in a timely manner. You run the risk of losing your unit if you don’t pay on time.

Before you visit the facility, here are some tips to keep in mind.

Call first: Call the facility so they know when to wait for you. Make sure you are there before the time limit.

Bring some tools: You will want to bring garbage bags, gloves and other cleaning tools to help you move your items. Boxes are a great idea too!

Bring a truck or trailer: You will have many items to pack and take with you. Be sure to bring a truck or trailer with plenty of space.

Bring a padlock: If you need to leave and come back later, you’ll need to lock your unit.

Online storage auctions are a great way to find some amazing bids without participating in a physical auction.

What’s the Difference Between Online & In-Person Storage Auctions?

storage locker

Storage auctions are popular ways for people to get their hands on an item they have always wanted. Today there are plenty of self-storage companies that are selling the storage items to people through auctions in order to recoup their losses because of the unpaid rent for the storage unit.

Auctions come as a result of the lien. Lien can be described as a right to hold the belongings of another person until the person pays the debt that is owed. If the debtor fails to pay the debt, then the lien right gives permission to the storage operator to sell the items that are inside the storage unit. These storage auctions are becoming increasingly popular and both online and in-person auctions attract lots of people. In essence, both of these types of auctions function in the same way although they do have some differences.

Online Auctions Come With Numerous Advantages

One of the major pros is that you can easily log on to some quality auction website such as www.storagetreasures.com and bid for the items from the comfort of your own home. Another difference between the in-person and online storage auctions is in the fact that through online auctions you can bid for several storage units at once. The bidding action is faster, so you can easily buy several units in short period of time.

Read More: 5 Reasons To Switch To Online Storage Auctions

You also do not have to travel long distance to enjoy bidding and getting stuff, so online auctions are pretty attractive for those people that want to do all their bidding from home or anywhere they are located at.

As mentioned, in-person auctions require travelling to a certain place, so you are bound to lose some energy and time of your day. With online auctions you have more time for your everyday obligations and more spare time. You can easily do your day-to-day tasks while bidding for certain storage unit and the items in it. That is something what most people value a lot, so online auctions have an advantage over in-person auctions in this segment too.

Regarding the ways in which the auctions are managed, in the in-person auction you have a chance to closely examine the items and then ask for some questions before you choose to buy the items. That way you are getting clearer idea about how many items are there for bidding and you can discuss other details as well.

Traditional, in-person storage auctions can be very exciting as you get a chance to interact with other bidders. On the other side, online auctions are more convenient because you can check out all the items in catalogues and then read descriptions about contents and other things.

In conclusion we can say that both auction types have their fair share of advantages and offer different benefits. In-person auctions are interesting and exciting because buyers interact and get caught up in the entire process. As stakes go higher the excitement also goes up. With in-person auctions you also get a chance to talk with the sellers, while at the online auction you are just bidding without interacting with other people.

However, with online auctions you can bid from any place and at any time you find most convenient. Also in-person auctions come with costs and expenses for getting to the place of auction, while with online auctions you do not have to worry about that. That is very good thing in this modern and fast-paced way of life. These were the main differences between online and in-person storage auctions, so go for the option you think it is best for you.

Recycling Tips for Leftover Storage Unit Items

saddle and other goods in storage unit

Leftover storage unit items can take up lots of space, so a good thing to do is to organize them properly. Keeping the items organized and well stored will open up a lot of space and will make your life easier.

If you have some storage unit items and wonder how to properly organize them then a good idea is to check out some of the following tips. For anything else regarding storage unit items and their auctions you should check out www.storagetreasures.com where you will find great selection of auctions, details about the items that are auctioned, as well as other valuable information.

First Tip Is To Always Use Pallets For Keeping The Items Above The Floor

This is very important because pallets protect the items from moisture and other things that can potentially damage them. Next good tip is to wrap those items that you can. Using plastic wraps for items will ensure their longevity and will properly seal them so they will not collect any dust. Large industrial wraps come at affordable prices, so wrap the items and they will always stay in perfect shape.

Labeling your storage unit items is another great thing you can do. Labels are great because they will save you lots of time when you search for something specific. Maybe you now know where some items are stored, but who knows whether you will remember after six months or more.

Read More: Things To Know About Storage Auctions

Therefore, label your items and you will save yourself a precious time later. Also do not forget to make a checklist with pointers about where are specific items stored. Next good tip is to use a good lock for your items. Strong padlocks will keep your items safe at all times.

When you are storing certain items remember to consider the material of which they are made of. Certain items can be affected by heat or cold influences, so some items such as vinyl records, photographs, and electronic devices need to be properly insulated. That way you will ensure they are in good shape if you decide to use them or sell them later.

Make sure you practice your organizational skills if you want everything to be properly recycled and stored. Even the smallest units for storage can hold up plenty of items, so try to use the space in best way possible. Pack the things all the way up to the storage ceiling. Put plywood to stabilize all the layers and to lower the pressure. All of that will help you better organize the stuff and they will be kept in great position.

These were a few basic tips for recycling, storing and organizing storage unit items. Truth is that recycling is not that hard if you follow a few certain things in mind. The key is to keep everything in sealed and labeled boxes, well protected from outside influences. Different items require different care, but proper insulation and putting things in containers and boxes is usually how it is done.

Labeling and proper positioning are a couple of important things that you should pay great attention to. Matching items should be kept close together, so you can easily recover them when you start looking for them. If you keep these tips in mind then you will save yourself a valuable time for recycling leftover storage unit items.

If you find it tough to recycle and organize everything by yourself, then you can also consult some professional who can help you with it. Also, besides keeping your items well organized another important thing is to keep them safe by locking them in the unit where you keep them.

How to Find and Attend Storage Auctions

storage locker

Finding and attending storage auctions can be very exciting and entertaining thing to do. Sometimes it can give you great benefits, but sometimes it can also mean gambling on uncertainty about what will you get. When you are bidding for storage units you never know what the owner has stored inside.

Maybe there are plenty of valuables and rare collectibles, but there is also a chance that there are some cheap stuff without significant value. Therefore, you should remember that storage auctions are thrilling and risky, but also often very rewarding. One thing is certain – storage auctions are never boring.

Today anyone can attend a storage auction. No matter which auction you attend you will certainly find numerous excited people that want to bid and get their hands on the items inside the storage unit. All kinds of people are attending the auctions – ranging from store owners and eBay sellers to treasure hunters, collectors and curious people. However, every bidder must be at least 18 years old, must fill out a registration form and has to have a personal identification.

Storage auctions are always publicly announced, so today you will have no trouble finding one. There are both online and in-person auctions running around the clock, so check those auctions that you find most attractive. The following are some easy ways through which you can find and attend plenty of storage auctions.

Read More: StorageTreasures.com Bidding 101

You can start of by checking out the ads placed in local newspapers and magazines. Almost all newspapers have ad sections where companies advertise the auctions. Local newspapers will advertise some pretty good auctions where you will likely face smaller competition in comparison to ads published in major city newspapers.

Besides checking out local newspapers and magazines, another thing you can do is visit some auction websites like www.storagetreasures.com where you will find plenty of information about upcoming auctions. You can auction online and check out different storages with descriptions of items for sale.

Another Way Of Finding Storage Auctions Is Through Signing Up To Receive Auction Listings On Your Email

That way you will be constantly up to date with auctions nearby you or wherever they are held.

This is a good way to gain advantage in this competitive field, so sign up and be always informed about in-person and online auctions near you. Besides this, you can also make an own research and call some of the storage companies that operate in your local area. You can ask them about any auctions coming up and get the schedule of all auctions that will be held in near future.

Finally, networking with other storage item buyers is another great way through which you can get informed about when and where the next auction will be. Get in touch with experienced bidders and they will tell you where the best auctions are and what you can expect from them. You can first attend one to get the feel of it and then you can start bidding for yourself. Overall, finding and attending good storage auctions is not that hard today.

All you have to do is just do a little research, check out papers and websites for ads, and you will know where and when the auctions are held. A little research can take you long ways, so stay informed and soon enough you will be attending the best auctions available. These were some advices on how you can easily find and attend storage auctions. Consider them for your own benefit and start exploring the exciting world of in-person and online auctions.