How Storage Auctions Work

Welcome back to the Albuquerque Self Storage Blog! You may be wondering just exactly what storage auctions are and how they work, so this article is to help you understand what real goes on during a storage auction. Self storage units are one of the best ways to store items that you don’t need every day and are taking up room in your home. This can include holiday decorations, the occasional convertible car, and furniture you may not have room for. Storage units can help to keep your items safe and secure all while creating more space in your home.

Over the years storage auctions have become even more popular thanks to the TV show “Storage Wars”. However, storage auctions are different from what actually happens on “Storage Wars” and other shows. A storage auction is where the belongings of one storage unit are sold off in an auction. Items within the unit will be sold to the highest bidder, and sometimes the entire storage unit will be sold.

How Auctions Work

Storage auctions take place once a renter has not paid for a period of time. After the owner of the storage unit has been contacted multiple times through email, phone calls, and mail letters the auction process begins. It is important for storage unit renters to keep their phone number, email, and address up to date to avoid a potential unwanted storage auction.

For a live auction bidders are often allowed to look through entrance of the storage unit and take note of the contents inside. Once the bidders have examined the contents the auction begins. Throughout the bidding process the contents are sold off to the highest bidder. Once the auction is completed payment will usually be required immediately after, and at the latest the next day. Depending on the company it is smart for the bidder to be aware of the payment requirements whether it be cash or check. After the auction all of the contents within the storage unit are legally owned by the highest bidder.

Once you have decided to attend an auction it’s important to note that each unit that is auctioned contains many different and valuable items. Storage units are bound to contain some items that the bidder will enjoy. However, oftentimes storage companies require that all personal items such as passports and tax returns be returned to the company. Beware that as a bidder that while you get to scope out the items from the entrance of the unit you may not know exactly what you are getting from the auction.

Finding a Storage Auction

If you’re looking to attend a storage auction many of the postings will be available on legal posting sites and newspapers. You can also check to see if a storage facility near you has any updates about storage auctions on their website. You can find tips and tricks on getting the best deals during storage auctions on multiple websites if you are interested.

If you are looking for a place to store all of your items, like holiday decorations or antique collections, contact Albuquerque Self Storage. We’ll help you find the perfect sized storage unit!