A FEW MINI STORAGE AUCTION DOs AND DON'Ts
Many people have found that there's money to be made by purchasing the complete contents of a mini storage unit through an auction. After purchasing the contents, the items are then separated out and resold in hopes of making a profit.
A mini storage auction occurs when someone has not paid his or her mini storage bill and usually it's for several months or longer. The owner of the mini storage unit will contact the owner of the contents and let them know that it's going to the auction unless they pay their bill. What the owner has in the storage unit as well as their personal finances at the time can dictate whether the auction takes place or not.
In order to be successful at mini storage auctions you're going to want to call the storage facility ahead of time and make sure that the auction is on, and find out the method of payment that will be accepted. You'll also want to know if you have a chance to look at the unit before the auction, and if there is a fee to participate.
Make sure you're prepared to move your mini storage contents as soon as possible. Along with the auction terms you're going to see terms where you need to move the unit's contents within 24 to 48 hours. You'll need to be prepared for this, with a truck or a van, and be aware of how much it's going to cost in fuel to bring it back to your location.
If by chance, it's your mini storage unit that is going up for auction, don't try to buy back the contents of your unit at the auction. Most mini storage managers will allow you to pay your bill, and they'll cancel the auction even up to a few hours before. So go talk to your manager and see what can be arranged.
At the auction, you will want to make sure that you are bidding appropriately. Many people get caught up with the auction excitement and bid way too high for items. Make sure you're prepared for the excitement and have decided your highest bid before you go. And make sure that if you are bidding on a sealed or closed storage unit that you bid appropriately. Remember, you may not know exactly what's in the unit and it might be worthless.
After you've returned home with the contents of your mini storage auction win, remember, you can give away those items you can't sell, or even donate them to charity. Don't pay a disposal bill on anything that can be given away, as it eats into your profit margin.
These are just some of the do's and don'ts that can be involved when it comes to mini storage auctions. Participating in a mini storage auction is a great way to have a bit of fun, and possibly earn a bit of cash in the process.