For people who like to find new treasures, going to self-storage auctions is high on the list of things to do. For people who love great bargains and vintage items, they may not know where to look or even what a self-storage auction is. So, let’s start at the beginning. What exactly is a self-storage auction? This is when individuals who have storage units either don’t pay or are unable to pay for their unit and the self-storage facility takes possession. Self-storage facilities usually have an auction once a month and will auction off the unit to the highest bidder. There are pros and cons to this. You don’t know what’s in the unit, so you will be getting everything sight unseen. It’s a risk you’re taking.
For some, that’s the thrill of finding great things. There are some storage units that have been filled with high-end merchandise. Imagine getting $100,000 worth of items for only $500 or even less? That’s a definite win! You’re playing Russian roulette when you choose to go to an auction, but it may be well worth your while. When going to an auction, you need to have a truck to immediately haul away EVERYTHING. Nothing can stay, unless you plan on renting a space. You also want to bring cash. At a self-storage auction, cash is definitely king.
Going to self-storage auctions used to be a well-kept secret, but reality television has opened the doors to infinite possibilities for individuals wanting to either make an extra buck or who are looking for great finds. Self-storage auctions have now become hot commodities, even turning to online auctions. Keep in mind, you will be bidding against people who have turned this process into a living, taking the contents and reselling them. For starters, you may want to watch the process and if you think it’s for you, then wait until the next auction to place a bid. For some, bidding on a self-storage unit sight unseen could be appalling to some, especially knowing that it could belong to someone who had all of their life’s possessions in that unit. For others, it’s a business. You’ll have to decide what works for you.
Going to a self-storage auction could be an adventure, especially if you find your unit has lots of great things in it. It’s definitely a good way for the self-storage units to recoup some of the money they could have potentially lost from a customer’s non-payment, or they could use this opportunity and give back to the community by way of proceeds. As the economy turns and people start taking the time to slowly redecorate or even purchase new things, this adds value to self-storage units and their popularity. It’s a chance you’re taking, and you never know what you may find, but you may get lucky. You may want to try your hand and see where it leads, especially if you like bargains. For treasure hunters, it’s just another day’s work.