Benefits of Online Storage Auctions

Online Storage Auctions are quickly becoming an industry standard. When you begin to look at the benefits, it isn’t hard to see why many facilities have started to hold their storage auctions online and why many people have become interested in “attending” storage auctions online as well.

So what is an online auction and what are the benefits?

Online Storage Auctions

OnlineAuctionsOnline Storage Auctions are exactly what they sound like. Storage facilities all over the country are picking up on the trend. Before you ever step foot onto a self storage facility for a storage auction, a facility is required to complete several weeks worth of paperwork and preparation. As part of the lien law process in most states, a facility employee cuts the lock from the storage unit to take a cursory inventory. This description is then used in the public notice that the facility is required to publish by law. Eventually, after going through the proper paper work and waiting the allocated amount of time, the facility will hire an auctioneer and will then host a storage auction at their facility.

Online storage auctions are completed in a similar fashion. The facility eventually cuts the lock and takes an inventory of what they can see from the door, and then they take pictures. Instead of hiring an auctioneer and having to manage traffic, auction registrants, and a disruption of their primary business, many facilities are opting to post the images online instead. Auction hunters can then review these auctions from the comfort of their own home.

Save Money

As a storage auction hunter, you’re primary business is as a reseller To make a profit, you consistently have to purchase storage units for as little an amount as possible to make your money back. With gas being as expensive as it currently is in most places across the country, what makes more financial sense than saving your gas and reviewing auctions online. In many instances, you still have to make the drive to clean out of the unit, but at least you have the peace of mind to know that the contents inside already belong to you and you aren’t just driving to a facility on the chance of winning big.

Save Time and Energy

As a storage auction buyer, you a probably familiar with this scenario. You use Storage Unit Auction List to find storage auctions. There are so many in your area, it’s hard to decide which ones to attend. You think it over and select the facility and make your way to the auction. Your day doesn’t go great and you end up going home empty handed. Then you hear through the grapevine that the other auction was great! Every unit was a winner and lots of people got great deals throughout the day! If only you could have been at both places at the same time! You would have increased your chances of winning the storage unit that you wanted! Online storage auctions allow you to do just that! You can be at many storage auctions at the same time. In many instances, there isn’t a cap on the number of units you can bid on. You can see hundreds of units all at once and put reasonable bids down on any that you feel have the potential to be winners! You’re basically giving yourself a leg up in the competition and doing so with less time and energy spent driving back and forth.

Have you ever participated in an online storage auction? What were your thoughts and did you win big? We want to hear from you in the comments below!

8 thoughts on “Benefits of Online Storage Auctions”

  1. As soon as one of the facilities in my area told us they were going to be having auctions on Storagebattles, I registered to be ready. It was my first experience. I looked at other states just to get a feel for what the auctions were like so I would be prepared. When the facility started posting units for auction I did what everyone else did, I put up a bid immediately on the locker I wanted. In the end, I won the locker. Although they had taken good photos, I was taken by surprise as to how packed this locker was. It didn’t look so packed by the pictures. That was ok. I do not like the auctions going on for a month. I think that is too long. What I am noticing is that the rooms are selling for quite a bit more money than they would at live auctions and the reason that is happening is because people are starting to bid from the day the room is listed. These are pretty smart, experienced people, like I am and I did the same stupid thing. Bidding for a month is ridiculous. The facility is making out and so is storagebattles. They are getting a buyers premium, same as if there was an auctioneer on site. Now I know, I find rooms I like and wait for the last 5-10 seconds and sniper bid, but usually by then the rooms I am interested in have passed their value. I prefer live auctions.

  2. There is a major down side to online storage auctions. The bids WILL go 2 to 3 times higher than they would at a live auction. I have bought many lockers and often I am lucky to break even for online ones. Maybe things will get better when the hype dies down, but for now I’ll stick with live auctions, where there are less than 300 people bidding on good stuff…

  3. i think it sucks. as a seasoned bidder, i dont like it at all. to see a pic from the door doesnt do the unit justice….how many times have i got down on my knees only to see a safe in the back , or other valuble that a pic just wouldnt show. being tall i can see all the way to the back of a locker , over whatevers piled up at the front. again, i wont get that view. i think what everyone is overlooking is the thrill of the hunt, being there in person, the competition, the comradery of the regulars…such a shit poor idea. about all you creat is some lazy asshole at home clicking a button and maybe making a few newbie bidders. but as we all know , newbies dont last..its the veteran bidders and none of like the idea..think again storage pros!

  4. Hi Marty, Thanks for your input. We believe that there are pros and cons to both methods of bidding. I think that in the end, we’ll see more people bidding in both ways to save themselves a bit of time and energy. You are right that the thrill of the competition and bidding is hard to duplicate online, but some people just getting started or trying to hit more lockers may find the online method helpful.

  5. Hey Robert, Thanks for your input. I do believe that there are benefits to online auctions. Mainly they really allow you to be at two places at once, but there is also something about a live auction that can’t be replicated!

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