Attending Storage AuctionsTelevision has glamorized storage auctions over the last few years. But what is it we can truly expect from storage auctions? Is it really what we see on television or is there more to it?
To get started, you have to locate these storage auctions. They are usually published in a local newspaper classified section. After you find one, make sure you call the storage facility 24 hours before the storage auctions to make sure they still have units available. You want to save your money for those storage auctions, not in your gas tank on a wasted trip. Storage auctions move very fast, so being on time is very important. Even if you are on time and ready to go, you still also need to be prepared. You will need a few key items to bring with you to all storage auctions.
They really like to know who you are at storage auctions, so make sure you bring your ID with you to obtain a bidding number. Storage auctions usually accept a driver's license or a state ID. So leave your college ID and your library card at home. Make sure you have a budget in place. Most storage auctions require cash payment as well as a deposit on each unit that is purchased. The deposit will be refunded to you when the unit is emptied and cleaned out. Storage auctions usually require that a unit be emptied and cleaned within 24 hours.
Now that you have a few of your basics in place, let's get ready for some storage auctions. Units will be opened just before the auction begins, and you will be given 5 minutes to look inside. However, you will not be able to touch anything inside the unit. What you see is what you’re bidding on. If you happen to run across something of value that you did not see before winning the unit, it is a bonus. Never assume that you will get something special in each unit. So make sure that you only bid on what you feel the unit is worth to you. You will need to bring a lock to help keep your treasures safe.
Some of the people you come across at storage auctions are professionals. They are stocking their stores or selling online. There is also your average Joe looking for a treasure. So do not be discouraged if you do not win the first few times that you attend storage auctions. Once you win your first unit, you will totally understand what all the hype is about. Success will not happen overnight, but with a little time and energy you can make storage auctions a fun and exciting hobby.