How a Storage Auction Works

Up until approximately five or six years ago, auctions involving Self Storage Units were typically quiet events that very few people cared about. Between ten to twenty people may show up and bid on the contents of a unit. Today, auctions at Self Storage Facilities in the Bronx can attract up to two-hundred people or more. So, what has changed?

One of the biggest reasons why auctions are receiving so much attention is reality television shows. Shows, such as Storage Wars, capture the interest and imagination of the American public and intrigue people. The interest has led regular people to learn more about auctions and try their hands at bidding.

Why Have an Auction?

Companies that provide Storage Units in Bronx NY will announce an auction when the rent on a unit has not been paid. It is a way to attempt to recoup losses and free up the unit for another renter. It sounds simple, but there are several steps that have to be taken first. The company has to make diligent attempts to contact the renter and request payment. A specific number of notifications have to be mailed via certified letter to the last known address of the renter.

It is imperative for renters of storage units to provide updated information to companies if they want to retain possession if their items. Payment on time and in full is also required. Many companies that operate Self Storage Units in Bronx offer online and automatic bill payments for the convenience of customers.

What to Expect at an Auction

There are several difference between traditional auctions and those held for storage units. The first difference is that items are not put up for bid one by one. Those participating are bidding on the entire contents of the unit.

Items in units cannot be touched or fully viewed by participants. What happens is the unit is opened at the time of the auction and people can take a close look for a few minutes, but cannot open any boxes or move items out of the way to see what is deeper in the unit. It is a gamble because there could be something of value in the unit, or there could be total junk.

What to Bring

Participants have to register prior to the beginning of the auction. Bring cash because that is the only acceptable form of payment for winning bids. Bring a truck and a crew to haul the contents away on the day of the auction. Some companies allow winners forty-eight hours to completely clean out the unit, including any garbage left in it.

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