Have you seen the storage auctions shows on television? Guessing what’s hiding inside, the competition, the bidding it all looks exciting and so much fun. So are you ready to take the plunge?
First step is to find an auction in your area. Here, at StoreRight Self Storage in Brooksville, we generally hold an auction monthly, usually the last Tuesday of the month but this subject to change. Call or stop by ahead of time to make sure. You can also search online for auctions in your area. Then, having found an auction, call the facility to check their rules and regulations. Some facilities require bidders to register before the auction begins. Plan to arrive about a half an hour before the start time.
Before you go to the auction, set a budget. Know what you are willing to spend. Remember this is a gamble, there are no guarantees that you will be able to resell the contents for a profit. It’s easy to get caught up in the excitement of the bidding so if your not self disciplined, you might want to bring along a friend to reign you in. You should also do some research on what second hand pieces sell for . This will help you set a realistic bidding ceiling once the action starts.
On the day of the auction, you will need to bring cash. Most storage auctions are cash only and you may also be required to leave a cleaning deposit. You might also want to bring a flashlight. When the units are opened, you will only have a few minutes to look at the contents, from outside the unit, and a flashlight might help you see those back corners and any treasures hiding there.
You’ll want to bring a truck or trailer, gloves, trash bags and dressing for success at a storage auction means work clothes. You generally have only a short period of time to empty and clean the unit so be prepared to spend some time sorting through what to sell, keep and trash.
With a little luck and pre-planning storage auctions can be fun and profitable.
Good luck and see you at the auction!
