| When someone has their items in a self-storage unit | | | | inspected for contents and at a certain time the |
| and they neglect to pay their rent for a certain amount | | | | auctioneer will begin his rant. The highest bid will win |
| of time, many times the self-storage facility will have | | | | and usually will have 48 hours to pay and then clear |
| the right to auction off their belongings in a self-storage | | | | out the unit. |
| auction in order to recoup their lost rent money. This | | | | - Blind Auction: This is not a popular type of auction but |
| can represent a great opportunity for you if you are | | | | it does occur. This is where the manager will simply |
| looking to pick up some items at a rock bottom price. | | | | post that there is a blind auction happening for a |
| But how exactly do self-storage auctions work? | | | | self-storage unit's contents and the unit will not be |
| There are different ways that self-storage auctions | | | | opened up, hence the term 'blind.' The only person who |
| are conducted and the process is strictly up to the | | | | will see the contents of the unit is the one who wins |
| self-storage facility that is conducting the auction. Here | | | | the blind auction. Other than the size of the unit there is |
| are the different ways that self-storage units are | | | | little information that can be obtained. Some places will |
| auctioned off: | | | | list, 'general items' or 'tools' as an example, but most will |
| - Sealed Bid: This is the most common way that | | | | not say anything about the contents. The manager will |
| self-storage auctions are conducted. In a sealed bid | | | | usually take sealed bids for a certain amount of days |
| auction the facility manager will open up the | | | | and the highest bid will win. Sometimes they will have a |
| self-storage unit that is having its contents auctioned | | | | live auctioneer insteadl, but not likely as a blind auction |
| off and let people look to see what is inside. Once | | | | will bring in much less than one where everyone |
| everyone gets an opportunity to see the contents the | | | | knows what they are getting into. The same rules |
| manager will accept everyone's bids in a sealed | | | | usually apply as to 48 hours to pay and clear out the |
| envelope usually accompanied by their name and | | | | items. |
| phone number. The highest bid gets the contents of | | | | To find out where these auctions are you only have to |
| the self-storage unit and will then typically have 48 | | | | call the self-storage facilities in your area and ask them |
| hours to pay for and remove all the contents from the | | | | when they conduct theirs. Some will do it once a |
| self-storage unit. In the event that the highest bid falls | | | | month and others will do it twice, but it is all up to each |
| through, the next highest will be taken. | | | | facility. While you are finding out when the auctions are |
| - Live Auction: A live auction of a self-storage unit is | | | | you will also want to find out the format so that you |
| rarer to find, but a lot more fun to attend. As with the | | | | can be sure it is the type of self-storage auction that |
| sealed bid auction the unit is opened up so it can be | | | | you will want to attend. |