Storage locker auctions are an amazing way to find valuable items that you can resell. Made popular, by the show Storage Wars, people seek their hidden fortunes at public storage units in the hope of uncovering valuables. The question though is often asked, where do you find local storage locker auctions? Below I will answer where to find them, how they work, some tips, and my experience with the storage locker auctions near me.
Map of Storage Locker Auctions Near Me
For “Storage Locker Auctions Near Me” or “Storage Unit Auctions Near Me”, see below for locations…
How to Find Storage Locker Auctions Near Me
Everyday across the United States, self-storage lockers are abandoned by their owners and the contents become available for auction. These auctions are built for people who can assess value quickly, like to gamble and are thrill seekers. What you find behind the doors of some of these abandoned storage units is a complete mystery, which is what makes these events potentially exciting. The question though is, how do I find storage unit auctions near me?
Here is how I find my local empty storage facilities through unit auctions:
Google “Events” Search
The first way I find storage unit auctions near me is to search Google. You probably already know that searching for storage unit auctions near me, generates a list of public storage unit businesses. Since storage unit auctions today are more like pop-up events, you need to know how to find them…
Pro Tip: One of my best secrets is using Google “Events” to find storage locker auctions in my area. Most auction hunters do not know to use this Google tool. Therefore you can find events that they don’t know about. This means you may be the most experienced bidder there. Google Events will list all the major self-storage auctions, but also smaller ones that are “pop-up” events.
Try Google Events Here: Storage Locker Auctions Near Me This Week
Using Storage Unit Auction Finder Sites
Several websites specialize in finding storage locker auctions. These sites allow you to enter your zip code and then find all of the storage unit auctions in your area. Some sites charge a subscription to use their services. The way the sites gather information is usually one of two ways. First auctions will pay to be featured or alternatively, the results are derived by crowd-sourcing.
Here are a few of the most popular sites for finding storage locker auctions near me:
Calling Public Storage Unit Businesses
Another option for finding these free events is to call your local self-storage businesses and ask if and when they run auctions. Some of the most popular self-storage companies post their auctions online. If yours is not a big box brand storage company, you can call them and ask.
Popular self-storage locker service companies who list events online:
How Do Live Storage Locker Auctions Near Me Work
When a former storage facility or locker is abandoned or now in lien, the self-storage company schedules an auction to purge the contents. This serves two purposes: It allows the self-storage company to recoup lost rental wages and it clears the locker out for a new tenant. For a storage company last legal measure they can take in order to reclaim the unit. The self-storage company hires an auctioneer to run an event in which abandoned units are sold to the highest bidder.
The participants are often a mix of veterans and first-timers, hoping to score a deal on someone else’s possessions. Each person who bids on property also enters into a legally binding agreement that if they should be the highest bidder, that they will pay the agreed-upon sum.
The flow of the Event
All events can work with some slight variations, but this is the general flow of the storage locker auctions near me…
Registration Before the Event
Before an auction starts all buyers must register in order to bid. Some places will have online sign-ups, while others will be in the administrative office on the day of the event. Generally, you will need a government-issued ID and proof of finances to purchase.
Preview Period – Guess What Inside
Auctioneers and the buyers will walk to each unit one by one, auctioning each locker as they go. They will clip the lockers off from the unit and open the door for a preview period. The buyers are not allowed to step foot in the unit or touch anything. They are only allowed to view the contents from the outside and make educated guesses as to what they see in the unit and how valuable it “may be”.
We Will Start the Bidding At…
These events are typically no reserve auctions and the auctioneer will make an educated estimate of where to start the bidding. It will be low enough to entice customers into some action and get the bids going.
The auctioneer will facilitate the action in a fast-paced manner, with a language that sounds like gibberish. To bid people will either raise hands or vocally shout in order to indicate they are bidding. Each bid raises the last in ascending order until the highest offer is determined.
Sold To…
When the auctioneer shouts “sold” the bid ends and the winner takes possession of the storage locker. The payment must be made immediately. Most places only accept cash (because they don’t want to deal with credit card charge backs) and be prepared to pay sales tax on top of your final bid. Once the unit is paid in full, the new owner can start cleaning it out as long as no other units around it are being auctioned.
Post Sale Process
Some places will also bang you for a $100 cleaning deposit to hold until the unit is cleared. You usually only have till close of business the following day to clear out the unit. Some places will let you rent the unit for one month, while you wait to clean it out.
The Rules for Bidding at Storage Locker Auctions Near Me
All Auctions may have some variations and certain rules will vary from state to state. While many of these are probably common sense, you should review them before you bid and make any assumptions.
- Your bid is on the entire storage locker. You can not bid on one particular item inside of it
- The auction has no reserve and no limit.
- The locker will go to whomever bids the highest monetary amount
- The winning buyer must pay in full with cash immediately upon winning
- A Cleaning deposit (varies by state), can be held until you remove all of the items
- The winning bidder has till close of business the following day to clear out all the belongings
- If a vehicle is inside, no title is transferred. It is sold as parts only.
- If sentimental items are discovered or items of personal and legal bearing such as photos, tax documents, IDs, and legal records, they must be given to the self-storage company.
- Firearms need to be turned into the local police
Online Storage Unit Auctions vs Public Auctions
There are storage locker auctions held online. This website allows you to bid from home or on your phone. This is a benefit for both the self-storage company and the participants. It means that a larger market can be reached and the event can take place in any weather.
It also offers the buyers an opportunity to do some digging online. For instance, if you see in the photo some 57 Chevy hub caps or a Kenmore refrigerator, you can look on eBay and see what the current going rate is. This will help you know how much you can sell it for and help frame how much you should bid on buying the unit.
While bidding online has some advantages…pictures don’t always tell the whole story. Going to a live event let’s you see inside in much greater detail than you just can’t see online. You are allowed to bring a flashlight, I’ve even seen people at storage unit auctions near me, cleverly use a mirror. While you can’t lean or reach into the unit, you might spot something valuable you can sell second-hand.
Another advantage of going to an auction is using your nose. Smelling the unit will reveal a few things. Is there mold in there and how much damage could it have done to the valuables? Secondly was the owner a smoker which means everything smells like nicotine and much of it is garbage.
To learn more about live public auctions, read our FAQ.
After Winning a Storage Lockers
Inventory Assessment
After the thrill of winning at a self storage auction, the first step is to conduct a thorough inventory assessment. This process involves cataloging every item you find in the storage unit. It’s crucial to take your time here, as even seemingly insignificant items can hold value.
As you sift through the contents, categorize each item based on its condition, potential value, and saleability. Remember, the goal is to maximize your profits, so being meticulous during the inventory phase can pay off significantly.
Sorting and Organizing Finds
Once you have a clear idea of what’s inside the storage unit, the next phase is sorting and organizing your finds. This step is essential for efficiently managing the storage contents. Divide the items into categories such as ‘for sale’, ‘to donate’, ‘to keep’, and ‘to discard’.
If you come across abandoned storage units filled with a variety of goods, this process becomes even more critical. Efficient sorting helps in creating a clear strategy for dealing with each item and ensures that nothing valuable is overlooked or misplaced.
Legal and Ethical Considerations
Navigating the legal and ethical considerations is a vital part of dealing with storage auctions. As a buyer, you must be aware of any legal obligations related to the sale and purchase of property from a storage facility. This includes understanding the laws regarding found personal documents or items that could be of sentimental value to the original owner. Ethically, it’s important to handle these situations with care and respect. If you find storage auctions that involve sensitive items, consider reaching out to the facility or the original owner, if possible, to ensure proper handling.
In conclusion, winning a storage locker can be an exciting venture. However, it requires a systematic approach starting from inventory assessment, moving through sorting and organizing, and being mindful of legal and ethical considerations. By following these steps, you can ensure a smooth and responsible transition from winning the auction to making the most out of your newly acquired treasures. Remember, success in this market is not just about the bid you place but also about how effectively you manage your finds post-auction.
Similar Auctions You May Like
Storage unit auctions are people’s personal things, that you bid on inside of a unit. Sometimes businesses also have units that get abandoned. These take a few different forms.
- Container auctions (like shipping containers)
- Unclaimed freight auctions
All of these will run just like an auction at a self-storage facility, so you may want to research those as well. For other types of personal items consider auctions for vintage toys, sports memorabilia, stamp collections, and estate auctions.
Storage Locker Auctions Near Me
Storage unit auctions are a lot of fun, but not for the faint of heart, You can find incredibly valuable things inside of these units, but more often the time than not, it’s a bit anti-climactic. Going into an auction, you should already have a good idea on how you are going to remove the items and resell things you don’t want to keep. When it comes to these styles of auctions, there is no telling what the price will be.
Some will go for $100 while others can go for thousands, it depends on what you can see from the door. There are some sellers and also participants there who schill, which means they intentionally drive the price up. This is what I have learned from the storage locker auctions near me.