Many people make money by attending mini storage box auctions, winning the contents, and then reselling them. This is a great method to make a few extra dollars, but it’s important that you understand the auction process as well as the potential profits.
Public storage auctions take place when someone doesn’t pay their bill. They are behind on their mini storage payment payments. They were notified that it was going to be auctioned but have not responded. At that point the management of mini storage units will announce the mini storage auction. It will also announce the exact time and location, as well as the possible number of units. It may only advertise the time and place of the mini storage units. You will need to verify any additional information.
The management of multiple storage units requires that the contents be sold to recoup any loss due to nonpayment. A whole storage bay with many units’ contents can be up for auction.
Sometimes you can inspect the contents before bidding on an auction. Other times, it will not be possible to see what’s inside the unit. A lot of items are stored in multiple storage units. This includes furniture, clothing (heirlooms), jewelry, major household appliances, small appliances, financial documents, family photographs, and books. It’s possible to bet that the owner of the unit knows exactly what it contains, even though you don’t know.
If you are considering attending a mini storage sale, it is advisable to first go to the auction and not to bid. You should not get so excited that you decide to bid. Before you arrive, determine how much you will pay. You should also plan to arrive before the auction starts to allow time for you to sign up and get your bidding number. Also, this will allow you to ask any questions. If you arrive too late you’ll be rushed and won’t have the time or patience to answer them.