Self Storage Auctions are Becoming a Popular Business Opportunity

July 9, 2017 Facebook Twitter LinkedIn Google+ Online Auction

Everyone pretty much knows what a self storage unit or facility is and most people also know what an auction is. What is not commonly known however is that self storage and auctions actually have more in common than most people think.

Auctions are very popular with people who are either looking to pick things up for a steal or with people who are looking to find items worth of value, such as antiques, jewelry or electronics. The majority of people think about public auctions, auction houses, estate auctions and online auction websites when they are looking to find what they need.

Due to a recent hit television show however, self storage auctions are a growing trend both offline and online. How self storage auctions work is pretty interesting and is outlined below:

Items that are contained in a self storage unit are put up for auction when the person who owns the belongings have quit paying the storage fee. How long a person has to be in default before the self storage company can put the items up for auction really depends on the state that the storage unit is located in as laws vary.
Once it is determined that the items within the storage unit are eligible to be put up for auction, a date and time is set for the auction, which is normally open to the public.
On the date of the auction and at the predetermined time, the door to the self storage unit will be opened and those who are interested in the contents can look into the unit from the outside but they are not allowed to actually go into the unit.
Viewers and interested buyers are only allowed to try to guess what the contents of the storage shed are worth by peering in and trying to see the stuff that is in plain view.

Self storage auctions are becoming a quick growing business opportunity on many different levels. On one level, storage facilities are realizing that they have a way to re-coup the lost income from the person who rented the unit if they decide to quit paying. Those who are in the business of buying stuff at auction and then turning around and selling the items for profits are also catching into this trend and taking advantage of it.

Another industry however that is also catching on is businesses on the Internet. The self storage auction trend is hitting the radars of those who provide information online in the form of instructions and “how to” guides as well.

I have been working in Internet marketing, search engine optimization and freelance writing for nearly 4 years after leaving a position with a financial institution. I love the freedom it gives me and I get to do something new every day!