What Are Mini Storage Auctions

What Are Mini Storage Auctions?
Mini storages are a​ convenient and​ popular way to​ store a​ wide range of​ items, ranging from family photographs to​ furniture and​ other household goods .​
Many look at​ self-storage units and​ wonder why I​ didn’t I​ think of​ that? Yes, it​ is​ a​ profitable business, but like with any other business, there are customers who don’t pay .​
This is​ when a​ mini storage auction is​ held.
If you are unfamiliar with self-storage auctions, you may want to​ learn more .​
You may have a​ ton of​ questions .​
How are auctions held? Can you participate? What types of​ items are sold? if​ these are questions that you have, please continue reading on to​ get your answers.
As previously stated, mini storage auctions occur when a​ unit renter does not pay their bill .​
These auctions aren’t the​ result of​ one missed payment .​
They are the​ result of​ multiple missed payments .​
The storage auction company in​ question will, in​ most cases, do everything in​ their power to​ get the​ renter to​ pay .​
However, there comes a​ point in​ time when they need to​ recoup their losses.
As for​ how self-storage auctions are held .​
It varies, depending on a​ number of​ different factors .​
Some states have strict rules, while others are more laidback .​
Many times, it​ depends on the​ storage unit company or​ the​ third-party hosting the​ auction .​
Most auction off whole units, including all of​ its contents .​
There are, however, auctions where you bid on one or​ two sealed bins at​ a​ time.
As for​ what items are sold that these auctions, you can find and​ buy just about anything .​
Items can include family photographs, financial documents, jewelry, clothing, home décor, furniture, and​ so forth .​
the​ only problem is​ that you rarely get to​ inspect the​ items .​
Most boxes and​ bins are left sealed .​
You may be able to​ quickly peek inside, but not physically inspect everything .​
That is​ why these auctions are referred to​ as​ being risky .​

As for​ who can participate in​ storage unit auctions, anyone can .​
Depending on the​ state in​ question, you may be required to​ pay a​ small fee if​ you don’t have a​ reseller’s certificate .​
This fee, if​ it​ is​ charged, is​ small .​
To actively participate in​ a​ mini storage auction, you will need to​ have cash .​
The more the​ better.
As nice as​ it​ is​ to​ hear that you can participate in​ a​ mini storage auction, you may be wondering why you should .​
There are a​ number of​ different reasons .​
Are you looking for​ affordable merchandise to​ own? Do you like shopping at​ yard sales? if​ so, you may like attending and​ bidding at​ a​ public storage auction.
In addition to​ stocking your home full of​ affordable items, you can also profit from mini storage auctions .​
You do so by reselling what you buy .​
if​ you bid low enough, you may be able to​ make a​ substantial profit, provided you walk away with items that can be resold .​
When it​ comes to​ reselling these items, selling on eBay or​ hosting a​ yard sale is​ recommended.
As a​ recap, mini storage auctions are the​ result of​ unpaid rental fees .​
if​ you would like to​ bid at​ an​ auction or​ just see what one is​ like, look in​ your newspaper classified section .​
This is​ where you will find information on local auctions, including dates, times, and​ any necessary requirements.

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