A new dimension in auctions that offers bargain hunters an opportunity to find something of value at a rock-bottom price is self storage auctions. Call them inquisitive adrenalin junkies, these bargain hunters are looking to find something they can buy that has been stored in a self storage unit.
The growth in the popularity of self storage auctions can in some way be attributed to them being brought to life by popular TV shows. The sight of people going crazy for a rare piece of art that has been abandoned in a self storage unit has captured people’s imaginations.
A self storage unit like the ones at Stop & Store Penrith is large enough to accommodate a considerable amount of goods, so an auction offering will have a large number of goods to be snapped up.
Here, we are going to discuss some of the pros and cons of holding a storage auction and how to locate one near you.
Storage Auctions and How They Work
The range of items stored in storage units and the popularity of this safe storage method seems to be growing all the time. This, together with the intrigue bargain seekers seem to have about finding out what is in a self storage unit at auction time is one of the reasons for this growth.
The way these items get to be auctioned is either by means of a planned event where the owner decides to sell everything or there is a forced sale. The latter happens in the unfortunate circumstance when a customer gets behind with the monthly storage fee payments, despite the storage facility usually making all efforts to avoid an auction.
How the Contents are Auctioned
As we have migrated to online communications a lot more over the last few years, so has the increase in online auctions. By doing so, the occasion of having an in-person storage auction seems to have diminished. Nowadays most auctions that a self storage facility holds are conducted online.
The first downside of an online auction is there is no opportunity to walk through the storage unit as bidders are not going to physically be at the self storage auction on the day.
A second drawback is that the adrenalin created by the auctioneer, and the competitive environment, noise, and tension are missing by not being performed physically.
Also, the fact that bidders may not be able to inspect the goods and physically touch and feel them may be considered an additional negative aspect of an online auction.
A further drawback is the fact that interested bidders are required to bid on the complete contents of the self storage unit, and not on individual items in the unit.
Of course, bidders save lots of time and money by not having to travel to the venue. In addition, the environment may be a lot more conducive to making rational decisions rather than bidding when doing it when physically there.
Also, there is no jostling for position or the possibility that a bidder could be placed in a position that limits access to visibility, which sometimes happens in the case of an in-person self storage auction.
While not able to touch and feel the contents, interested buyers are given permission to view the contents before the auction to verify for themselves. It is one way to get around the advantage one has during an in-person auction.
Finding a Self Storage Auction
There are several ways to find out about a self storage auction:
- Contact a self storage facility in your area, like Stop & Store Penrith, and find out when the upcoming self storage auctions will be.
- Auction companies will have a schedule posted on their websites that will provide the details of when the forthcoming self storage auctions will be.
- An internet search will reveal the presence of online platforms that are used by storage companies to advertise upcoming auctions.
If you are going to do your bidding online, it helps reach a lot more self storage auctions across the UK. The only downside is that the goods will have to be removed quickly, in some cases as rapidly as a day. Arranging to pay for storage is one way to give the bidder a longer window to remove the bought auction goods. However, it is important to remember the distance factor which translates into a higher transport cost ultimately.
How to Bid and What to Expect
For those familiar with auctions, a self storage auction is like others. The only difference is that real bargains may be had, or vice versa, you may buy a load of stuff that is of little use to you.
There are stories doing the rounds of bidders who have bought the contents of self storage units only to discover hidden treasures, like a priceless antique of money stashed in a couch.
Some good advice from those in the know is to set your limit and not go overboard during the auction. Secondly, if you can, try and use photographs of the contents to your best advantage and take careful note of how the goods are packed in the unit.
Self Storage Unit Auctions
Self storage is one of the most convenient places to find secure storage. As they are affordable and often conveniently located, they provide an excellent place for people to store goods. At times goods stay in self storage for long-term rentals, and owners may experience difficulties paying the storage facility due to unforeseen circumstances.
If the contents need to be sold, a self storage auction is the most efficient way to do it. Holding an auction nowadays is mostly online, which has its own pros and cons. Being aware of them will help bidders make informed choices. We hope that after reading this you can save money while finding some good bargains.
If any further information is required, please ask us for advice.
Give us a call on our office number, which is 01768 800291, and for further information, our website details are: