With a great full-service auction company such as like North by Northwest Estate Sales, Services & Auctions in charge, storage auctions are a quick and easy way for storage companies to turn abandoned units around to make profit again. Besides allowing storage businesses to recoup losses, they also provide an opportunity for enterprising individuals to make some money. It’s a win-win situation for all.
To get started with liquidating storage units which have gone to lien, or to learn more about storage auctions in your area, we encourage you to reach out.
If you manage a group of storage units and have one or many which need to be cleared out, we encourage you to give us a call. We will organize and execute an effective storage liquidation auction to help you recoup your losses and open up space for future tenants.
If you are hoping to find a storage auction near you, please feel free to reach out and see what we have scheduled. You can also check common self-storage unit auction sites to keep up to date.
While every auction may look a little different, there are some general rules you should be aware of. If you have any questions, don’t be afraid to ask the auctioneer who is managing the storage auction event.
Please note that when you take ownership of the contents of a storage unit, you will have a predetermined time to clean it out. Make sure you have time to pick through what you find and dispose of whatever you choose not to keep.
Also note that while the hope is that you will come upon something valuable, it can take some effort and know how to turn a profit on the contents of a storage unit. It’s not quite as straightforward as the story you might see on TV. While there is opportunity, there are no guarantees in storage auctions.
As a storage auction services team, we manage storage auctions from start to finish. Here’s an overview of what we do, after storage units which have been abandoned are identified and the proper paperwork is filed to ensure that the contents of all units can legally change hands. Once everything is documented, we:
If you represent a storage company and are needing to clear the contents of some of your self storage units, please reach out with any questions or inquiry. For a negotiated fee, we manage everything.
Let us know if you don’t see your question below, or if you’d like more information. We’d love to chat!
When all applicable laws are followed, the buyer of a particular unit’s contents remains anonymous. This is a good reason to trust your storage unit auctioneering to a professional team.
Typically, a self storage auction will take place when a renter has failed to pay their bill for the time legally required to allow the storage unit owner to take legal possession of the content of their units. At this point, the unit is considered abandoned and the storage unit company will then arrange for an auction to take place to recoup its losses and free up space.
The auction process is straightforward, each unit taking only a few minutes in most cases.
A storage unit auction is arranged with an auction company like North by Northwest Estate Sales, Services & Auctions, who advertises and manages the event. Interested buyers are taken from unit to unit. Each unit is opened up and the contents sold as a group based on what can be seen. Payment must be presented at the time each unit is won, at which point ownership can be transferred and the new owner begins to clean it out. Monies are then divided per the agreement between the auction company and the storage unit company.