Storage auctions have been around for ages. For decades, buyers would have to check their local newspaper or call the facility directly in order to know when and where an auction was taking place. Regularly, different storage facilities held auctions on the same days and times which conflicted the buyers, so they would have to choose which to attend. Not only was this inconvenient to the buyers, but the smaller storage facilities were often not their first choice if times conflicted with larger facilities. Buyers would then have to show up to the facility and follow the auctioneer to each individual unit up for auction and bid. These buyers were usually a small group of people who bought the contents of the units for a living.
When shows such as Storage Wars started airing, interest in storage auctions boomed, and so did auction attendance and competition. These large gatherings of buyers clogged facility parking and drive aisles, and could take the property manager’s attention from their property and occupants for quite a while.
Now, more and more facilities are signing up for online storage auctions. Jack Rabbit Storage exclusively auctions units on Lockerfox.com. Online auctions are so much easier for both the buyers and the facilities. Buyers are able to bid on multiple auctions at the same time without having to be physically present. Property managers are able to dedicate less time to the auction process so they can focus more on helping customers and maintaining the property.
If you are new to auctions and unsure of the process, bidding online can ease some of your anxiety. Most auction websites provide instructions and guidelines for auction dos and don’ts. The deposit fee (if applicable), clean-out time, and other requirements will be listed on the website. If in doubt, call the facility directly. Seasoned buyers also appreciate the convenience of bidding from home, especially if it’s a rainy day.
Bottom line: online auctions are the next step in storage auctions. They provide more convenience and organization than traditional on-site auctions. To learn more, contact your local storage facilities to see if they offer email newsletters for auction buyers to get information on upcoming auctions. You can also check out websites such as LockerFox.com for more detailed information.