Unclaimed Freight Auctions Near Me [Locator Map + Bidding Guide + FAQ]

Unclaimed freight is shipment cargo that the owner never picked up. After a set period, the shipping yard can auction the contents in order to recoup losses. There are two types of unclaimed freight auctions, those that involve bidding on containers and those that involve bidding on the contents. In this article I will discuss how to find these auctions, what kind of merchandise goes unclaimed, and my experience with unclaimed freight auctions near me.

Map of Unclaimed Freight Auctions Near Me

For details: “Unclaimed Freight Auctions Near Me”, see below for locations…

How to Find Unclaimed Freight Auctions Near Me

Unclaimed freight happens all the time, much more often then you would think. The reasons vary from the owner couldn’t pay for it or the shipment was lost or damaged and they refused to accept it. This leads to regular auctioning of unclaimed freight, sometimes called abandoned freight.

These auctions run very much like self storage locker auctions and container auctions where you can find great stuff to resell for a profit. Most people though don’t know where to find these events though and I have a good trick to solve that!

Here is how I find my local unclaimed freight auctions:

Google “Events” Search

Most unclaimed freight auctions are hard to find. the new lots. Unclaimed freight warehouses you can find, but auctions are another story. The trick to finding these events is to not do a regular Google search, but do a special Google search. Here is how you can find some off the beaten path unclaimed freight auctions…

Pro Tip: One of my best secrets is using Google “Events” to find unclaimed freight auctions. Since these auctions aren’t widely marketed, many people don’t know about them. That means fewer people to bid against and you can be the savvy veteran. Google Events will list the popular unclaimed freight auctions, but it will also list the smaller “pop-up” events. These are auctions run by smaller venues and many of them are one-time events.

Try Google Events for this week: Unclaimed Freight Auctions Near Me

Unclaimed Freight Businesses

There are plenty of businesses that specialize in abandoned freight. When shipped goods are not claimed, the dealer who issued the freight will negotiate with the shipping company. Then the shipping company either auctions the container, auctions the goods at an auction house or marks up the prices and sells them through a store. These stores will know about unclaimed freight auctions. You can find a store here.

How Do Live Unclaimed Freight Auctions Near Me Work

When a container of merchandise or supplies arrives at a dock and it goes 30 days without the owner coming forward, it gets labeled unclaimed. This is the moment that the shipping company actually owns the goods and has the rights to what is inside the container.

While that purchase price may seem like a good, deal they are in the shipping business, not the merchandise business, so a container sitting is costing them money. It’s in their best interest to get it emptied quickly and back into service.

To claim it abandoned requires some legal requirements to be met. If the shipment qualifies as abandoned the contents can be destroyed, sent to the dumps, sold, or auctioned. The auctioning prices are often much less than the original retail prices.

So now that we know more help how the goods become unclaimed freight and get to auction…let’s talk about how the actual auction works.

if the logistics company decides they want to auction the merchandise, they will hire an auctioneer. The auctioneer will handle marketing the event, facilitating the buyers, and finalizing the sales. People who come to these events are a mix of veterans and first-timers. Each bid placed is considered a legally binding agreement. Winners are determined when the highest bid for the merchandise is placed.

Flow of the Event

Auctions all tend to have a lot location a slightly different flow to them, but below I will capture how the unclaimed freight auctions near me work…

Registration is Required to Bid

If you are interested in bidding, you must register first. Some auctions will allow you to register online, while others are done in person on the day of the event. Registration requires proof of identification and sometimes proof of finances like a bank statement.

Preview or Inspection Period

Before bidding starts the participants are allowed to view the contents. If it is a container of merchandise, the buyers can only view what’s inside from the doors. They have to make an evaluation about what they think the box and contents are worth.

If the contents are already out of the container on a wrapped pallet, they can walk around the pallet and estimate the value. The key here is you can’t touch the pallet or touch the container.

We Will Start the Bidding At…

An abandoned freight auction has no reserve and no sealed bids are accepted. The auctioneer makes an announcement at a price to start the bidding and the event begins. Typically they will start at a low number to entice the participants to get started.

The bidding will be facilitated by the auctioneer who calls out the first bid select current maximum bid and prices and looks for people willing to bid more. Participants place bids by raising their hands or making verbal gestures. Each bid raises the last until the highest bid is established.

And the Winner is…

The auctioneer will say sold when they determine who the highest bidder is. At that point that participant is the owner. They must pay for the freight at the agreed-upon minimum bid amount in cash right away. When the minimum bid amount is paid, the owner gets a bill of sale and can start unloading the freight.

Some Auctions Have a Cleaning Deposit…

Some, but not all auctions, will charge a cleaning deposit. Normally it’s a minimum amount of about $100 in my experience. You have 24-48 hours to empty the crate to get your deposit back.

Know The Rules for Bidding on Unclaimed Freight and Storage Units

Unclaimed Freight auctions all follow similar rules to storage locker auctions. Here are the basics you need to know:

Your bid is on the entire container or pallet if it is that style of auction. Some auction houses may auction individual unclaimed merchandise.
The auction style is reserved with no limit and no sealed bids.
The winner is the highest bidder.
The highest bidder must pay immediately upon bidding.
If a cleaning deposit is required, the container must be emptied in the allotted time to reclaim the fee.
Containers need to be emptied within 24-48 hours.
If a vehicle is inside, no title is transferred. It is sold as parts only.
Firearms need to be turned into the local police.

Online Auctions vs Public Auctions

When it comes to unclaimed freight auctions, you have two main choices: online or public (in-person) auctions. Each type has its own set of benefits and drawbacks, and understanding these can help you make the best decision for your needs.

Advantages and Disadvantages of Online Auctions

Online auctions offer convenience and a wider selection. You can bid from anywhere, as long as you have an internet connection. This means you can search for and participate in auctions without leaving your home. Online platforms often provide quick bid options and allow you to find similar items easily, making the process efficient.

However, online auctions have some downsides. The most significant is the lack of physical inspection. You rely on pictures and descriptions, which might not always give the full picture of the item’s condition. Also, the bidding process can be highly competitive, and you might get outbid quickly.

Leveraging Technology in Online Auctions

To succeed in online auctions, use technology to your advantage. Set maximum bids to automate your bidding process, ensuring you don’t miss out on items while staying within your budget. Keep an eye on the current bid and current bid to minimum bid to adjust your strategy accordingly. Also, use the watchlist or save features to keep track of items you’re interested in.

Advantages and Disadvantages of Public Auctions

Public auctions offer a tangible experience. You can physically inspect the items, which is crucial for assessing their quality and condition. This firsthand look can be invaluable, especially for items like electronics, furniture (like a tv stand or coffee table), or household items.

The downside? Public auctions require your physical presence, which can be inconvenient, especially if the lot location is far. Also, the atmosphere can be intimidating for new bidders, and there’s often less variety compared to online auctions.

The Importance of Physical Inspection in Public Auctions

In public auctions, the opening bid starts the process, and you can feel the energy in the room. Use this opportunity to inspect items closely. Check electronics, fitness equipment, or household items for any signs of wear or damage. If you’re looking at furniture, like a coffee table or tv stand, check for quality and sturdiness.

Remember, in both online and public auctions, your bids are a legally binding obligation. Whether you’re bidding on a Utah lot or a Salt Lake City auction, be responsible with your bids. Keep track of payment details and understand the terms for successful bids, like pickup times and payment methods.

To learn more about unclaimed freight auctions, read our FAQ here.

Risks and Pitfalls to Avoid in Unclaimed Freight Auctions

Participating in unclaimed freight auctions, whether online or in public settings, can be exciting and potentially profitable. However, there are risks and pitfalls that bidders should be aware of to ensure a successful and hassle-free experience.

Common Mistakes and How to Avoid Them

One of the most common mistakes in freight auctions is not setting a maximum bid. Without a pre-set limit, you might get caught up in the heat of the moment and bid more than you can afford. To avoid this, always decide on a max bid before the bidding ends or the auction starts and stick to it, regardless of how competitive the bidding gets.

Another mistake is neglecting to read the details of the auction. Each auction has its own rules and requirements, and not knowing them can lead to issues. For instance, some auctions might require a cleaning deposit immediately purchase, or have specific payment terms. Always take the time to read through the auction’s terms and conditions to understand your legally binding obligation.

Legal Considerations and Compliance

Legal considerations are crucial, especially when it comes to specific items like firearms or vehicles. If you win a bid for a lot containing firearms, you must comply with all local and federal laws regarding their transfer and ownership. This might include turning them over to local authorities or going through the necessary background checks.

For vehicles, be aware that they might be sold without a title, meaning they can only be used for parts. Before placing a bid on a vehicle, confirm the status of the title and understand what you’re actually buying. This will help you avoid legal complications and ensure that your purchase is compliant with the law.

Bidding on Items Without Proper Inspection

In online auctions, there’s a risk of bidding on items without a proper inspection. This can lead to disappointment if the items don’t meet your expectations in terms of quality or condition. To mitigate this risk, always look for auctions that provide detailed descriptions and clear photographs. If possible, contact customer services for more information about the item.

Overlooking Shipping Costs and Logistics

Don’t forget to consider the logistics of getting your purchases to your location. In some cases, the cost of shipping large items like furniture or fitness equipment can exceed the value of the items themselves. Always check the lot location and factor in the shipping costs before placing a bid.

Not Understanding the Auction’s Format

Different auctions have different formats, such as increment choose or quick bid options. Not understanding these formats can lead to missed opportunities or overpaying for an item. Familiarize yourself with the auction’s format beforehand, whether it’s an online auction or a public one.

In conclusion, while unclaimed freight auctions offer great opportunities, they come with their own set of risks and pitfalls. By setting a maximum bid, understanding the next lost freight auction’s legal and logistical details, and being aware of the auction’s format, you can navigate these auctions more effectively and avoid common mistakes. Remember, knowledge and preparation are key to a rewarding auction experience.