When is the Best Time of Year for Storage Auctions?
There are dozens of different factors that will affect your level of success in the buy-sell storage auction business, one of which is the time of year. After being in this business for long enough, you'll notice that some times are better than others. So, which times are "ideal" for attending storage auctions?
Arguably, one of the best times of the year for storage auctions (from a buyer's perspective) is the holidays. From November through December, you'll find there's less competition when bidding on abandoned storage units. This is due to the fact that many people are busy with other activities, such as traveling to meet family, going to parties, or shopping for holiday gifts. With less competition, you'll have an easier time scoring high-value storage units at minimal cost, helping to increase your total profits in the process.
Of course, the entire winter season is an excellent time to attend storage auctions as well. In addition to winter aligning with the holidays, many people avoid storage auctions during this time of the year because of the brutally cold weather. In some of the southern states, this may not be an issue. But states farther north may experience sub-freezing temperatures, making it difficult and downright uncomfortable to participate in an outdoor storage auction. If you can bare the cold temperatures, however, you'll reap the benefits of less competition.
Early spring is another time that's perfect for attending storage auctions. Storage facilities will often hold more auctions during this time in an effort to free up storage space for other tenants. This means more opportunities to score a high-value unit at minimal cost. You can expect to see some competition during the spring, but it's typically less than the summer.
While there are always exceptions to this rule, you'll typically find the weekdays to have less competition than the weekends. Many people who attend storage auctions have other jobs, so they are forced to wait until the weekend. You can take advantage of this by searching for storage auctions in your area that are being held on the weekdays. The vast majority of self-storage facilities hold their auctions on the weekends, but with a little bit of digging you should be able to find at least some that auction off abandoned units during the weekdays.