How does the public storage auction work?
Be sure to arrive 10-15 minutes prior to a scheduled storage unit auction. Before the auction storage starts, the mini storage auctions auctioneer will have a sign in sheet and a set of their company’s rules going over the terms and conditions of the storage units auctions. Most auctions are “live” or “verbal”. The sale will allow the storage facility to recoup some of their losses. Any profit over the actual amount owed on the unit is paid to the renter, but the winning bid seldom covers the past due rent. Cash is the acceptable form of payment and sales tax will be charged if the buyer cannot show a valid resale license and proper identification. Storage locker auctions are very different then most types of auctions. Usually you are bidding on the entire contents of a unit. Units or lots are usually viewed 1 by 1 with the viewing limited to the doorway entrance of the storage unit or container. The bidding starts after all bidders have had a viewing of the property. Bids sometimes start out as low as $1.00 and can proceed upwards with the property being sold to the highest bidder. Based on our experience average lots or units seem to sale for under $300.00. Don’t forget, the high bidder must remove all contents of the unit purchased within the time specified by the self storage facility. Facilities do not allow the use of their garbage cans or dumpsters and units are expected to be broom swept clean.