It is quite popular in the United States for owners of self storage properties to hold auctions to clear out units that their tenants failed to pay for. These storage auctions can be attended by the public, and most bidders buy these units for the purpose of reselling them. It is thus important for the average individual to gather information about the self storage units and what is offered by these Auctions. This article will give tips on how to find the best deals at self storage auctions.
Most of these auctions are done in a very unusual format, where the bidders get a quick chance to peek inside the unit, and then they start bidding. These self storage units are sold very quickly-and by quick, I mean in the first 2-3 minutes. The great thing about this spontaneity is the small treasures you can find within these self storage units. These auctions are ideal for people who are in the business of selling used goods.
Here are some good reasons to bid at a storage auction:
Take the time of the bidding into consideration. If it is during or after a recession, this might mean that you might strike a lucky deal.
Before attending these storage auctions, do a bit or research about the usual tenants of the self storage facilities. Take the area where this auction is situated into consideration.
Understand the mode of payment they expect from this auction, as well as the terms and conditions. Unless stated otherwise, expect to pay in full with cash, immediately at the end of the auction.
Arrive early at the auction site, so that you can have a look around. If you are able to browse through the units, check the labels on the boxes. Look for small details.
Make sure that you are able to pay the money that you bid. If the auctioneer is still unfamiliar with you, guarantee that he or she is aware of your bid. You should also set a limit of what you are willing to pay, so that the excitement will not run away with you (and your money!)
Look out for brand names on the items, if this is possible. Even if you just see a brand name box, this can imply that the person bought more brand name appliances. This can also tell you if the owner focused more on quality than cost. This will be advantageous for resale purposes.
You can also tell the value of the content by looking at the sealing of the boxes. Original boxes that have been resealed might contain objects of value. This is just speculation, so use your own judgment.
Only bid on the units which you think will have a good resale value, so that you do not end up with unwanted boxes that you will have to store or dispose of. Follow your gut feeling.
A lot of the people bidding are regulars, so do not start by trying to out-game them. Start with smaller units so that you can learn to understand the system.
It has happened where people were unaware of the worth of certain objects they owned, and you might strike a deal by taking this chance. Every individual has dreamt about following a treasure map and finding object of their heart's desire. Well, since most of us don't own a ship or have the time to go explore, self storage auctions are these modern day treasure hunts.
Most of these auctions are done in a very unusual format, where the bidders get a quick chance to peek inside the unit, and then they start bidding. These self storage units are sold very quickly-and by quick, I mean in the first 2-3 minutes. The great thing about this spontaneity is the small treasures you can find within these self storage units. These auctions are ideal for people who are in the business of selling used goods.
Here are some good reasons to bid at a storage auction:
- You sell at a flea market.
- You intend on selling the goods on eBay or Craigslist.
- You want to buy some very nice clothes or furniture without spending a lot of money.
Take the time of the bidding into consideration. If it is during or after a recession, this might mean that you might strike a lucky deal.
Before attending these storage auctions, do a bit or research about the usual tenants of the self storage facilities. Take the area where this auction is situated into consideration.
Understand the mode of payment they expect from this auction, as well as the terms and conditions. Unless stated otherwise, expect to pay in full with cash, immediately at the end of the auction.
Arrive early at the auction site, so that you can have a look around. If you are able to browse through the units, check the labels on the boxes. Look for small details.
Make sure that you are able to pay the money that you bid. If the auctioneer is still unfamiliar with you, guarantee that he or she is aware of your bid. You should also set a limit of what you are willing to pay, so that the excitement will not run away with you (and your money!)
Look out for brand names on the items, if this is possible. Even if you just see a brand name box, this can imply that the person bought more brand name appliances. This can also tell you if the owner focused more on quality than cost. This will be advantageous for resale purposes.
You can also tell the value of the content by looking at the sealing of the boxes. Original boxes that have been resealed might contain objects of value. This is just speculation, so use your own judgment.
Only bid on the units which you think will have a good resale value, so that you do not end up with unwanted boxes that you will have to store or dispose of. Follow your gut feeling.
A lot of the people bidding are regulars, so do not start by trying to out-game them. Start with smaller units so that you can learn to understand the system.
It has happened where people were unaware of the worth of certain objects they owned, and you might strike a deal by taking this chance. Every individual has dreamt about following a treasure map and finding object of their heart's desire. Well, since most of us don't own a ship or have the time to go explore, self storage auctions are these modern day treasure hunts.
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