Understanding The Storage Auction Process

How A Storage Auction Works

If you haven't been to a live auction before, the prospect of going to your first storage auction might seem a little intimidating. Not to worry! Storage auctions are very straightforward, and you'll quickly get the hang of it. Just be prepared to use a little observation to get a feel for the process and how to identify profitable units to buy.

The Auction Process

Be sure to arrive 10 or 15 minutes early so you have time to sign-in as a bidder with the auctioneer. Bring a photo ID, as many auctioneers will require this of all bidders. The auctioneer will gather the bidders and explain the auction procedure and ground rules to everyone. Then the first unit is opened and the bidders will have a few minutes to peer into it--without going inside--before the bidding begins. Most storage auctions are conducted as “live” or “verbal” auctions, although a very few are “silent”, sealed-bid auctions.


In a verbal auction, the auctioneer will usually start speaking quickly in “auctioneer speak” and looking and listening to the crowd to find out who wants to bid. The auctioneer will call out a price and ask if there are any takers. You can gesture affirmatively to the auctioneer if you want to make a bid at that price. If there's a lot of action, you can call out a higher bid. Once the bidding settles down, the auctioneer will say “going once… going twice…,” and if there are no further bids, “SOLD!”


Once the bidding is complete, if you've won the unit, you must secure it with your own padlock. The auction then moves on to the next unit at the facility. Once all the auctions are complete, you'll meet with the auctioneer to pay for your units and complete the auction paperwork. The storage facility will typically collect a cleaning deposit from you, which they will return when you have emptied the storage locker and left it broom-swept so that it is ready to be rented to a new tenant. You will not be permitted to use the facility's dumpsters, so be prepared to haul away and dispose of anything that you don't want!


Often, an auctioneer will sell units at several different facilities in the same area on one day. After each facility's auction is completed, usually the bidders will follow the auctioneer to the next facility. A “roving auction” like this may start in the morning and continue until mid-afternoon, with dozens of units being sold.

Finding The Auctions

Surprisingly, it's not always easy to find out when these auctions are happening. Only a few storage companies and auctioneers post their auction schedules on the Web, and many of these web sites can only be found if you know exactly what you're looking for! The storage company is usually required to place out a public notice of the auction in a local paper, so you could read through those every day in every paper and write them all down on your calendar. Or you could get out your phone book and call all the storage businesses in town every month to ask them when they're holding the next auction.

An Easier Way

As you can see, if you live somewhere where there are a lot of storage facilities, it's a lot of work to keep up to date with all the auctions. That's where we come in. At StorageAuction.net, we have the most comprehensive listings of storage auctions anywhere on the Internet. And all you need to do to access them is sign up for a free account! We keep records on thousands of storage facilities and are constantly updating our database of upcoming storage auctions. With StorageAuction.net, you'll always know when the next auction is!

Popularity of Self Storage Auctions Spurs Change

 Change in Tennessee Lien laws

Self storage auctions are getting swamped with attendees in recent months as popularity has grown, causing many states to look at streamlining their lien laws. Earlier this week, both Nevada and Florida legislators reviewed proposed changes to their states’ self storage lien laws. Now Tennessee has joined the ranks by introducing legislation that would lift the newspaper advertising requirement for self storage lien sales.

Due mostly to the popularity of A&E’s “Storage Wars” reality show, novice bidders have begun to flock to self storage auctions hoping to find treasure amongst the boxes and bins. The demand for storage auctions has grown exponentially and many states are looking to smooth the process by taking a more modern look at what some self storage associations are calling outdated and overly stringent lien laws.  Auctions and lien laws are of such great interest that the Inside Self-Storage World Expo, March 14-16 at the Paris Hotel & Resort in Las Vegas will be conducting two special seminars and a workshop that will focus on lien laws and auction sales.

The proposed Tennessee state legislation known as Senate Bill 1293 and House Bill 1265 would allow facilities to contact auctioned tenants by verified mail, which would include e-mail and hand delivery. The new advertising requirement would still require facilities to post clear auction information, such as time, date, place and manner of the sale. To be commercially reasonable an auction would require at least three bidders but no newspaper ad would be required.

For lien-sale notification, the new Tennessee law would allow for hand-delivered notices and verified mail which is far less costly than previously required Certified Mail. The bill also approved e-mail notification and does not specify an e-mail proof-of-receipt requirement. Based on a Tennessee Self-Storage Association survey with 350 respondents some interesting numbers arose:

• 80 percent said they do not subscribe to a local newspaper. 

• 83 percent said they do not read the legal notices in a newspaper. 

• 80 percent said they had regular e-mail and Internet access. 

• When given four choices for preferred methods of receiving notifications if they default on their rent, 53 percent of respondents chose e-mail, and only 2 percent chose via a publication.

 “The law should enhance communication between businesses and consumers,” said Sherry Cole, a member of the Tennessee Self-Storage Association Board of Directors and chair of the legislative committee. “The current law does not allow us (self storage owners) to use a more efficient means. In fact, the law is doing a disservice to operators and consumers. The law needs to be modernized. Technology has changed in the past 31 years.”

The proposed changes in Nevada law include legal e-mail auction notifications with confirmation of tenant receipt, as well as newspaper-free advertising requirements and new procedures for handling delinquent tenants’ protected property. Introduced by Sen. Mike Schneider, the bill would allow self storage owners to notify tenants of an auction by “verified” means, including traditional mail or electronic communication with evidence of receipt. Pre-auction newspaper advertising would be removed. However, the bill requires at least five bidders who are unrelated to the owner to attend the auction in order for it to be considered commercially reasonable.

Regarding Florida law, the Self Storage Association and the Florida Self Storage Association (FSSA) also aim to save self storage operators money by changing the mail-notification and newspaper requirements of a lien sale. One bill, HB 459 revises the notice requirements relating to lien enforcement and addresses limitations on liability. SB 1772 also affects notice requirements by allowing postal notice by First Class Mail with a certificate of mailing as well as an e-mail notification. The bill would also get rid of provisions that relate to advertisement requirements while clarifying provisions that relate to the right to create contractual liens or limitations on liability.

Sources Used:

“Tennessee Bill Proposes Changes to Self-Storage Lien-Sale Process.” Inside Self-Storage. March 9, 2011.

Stevens, John. “Two States Tackle Proposed Changes to Lien Laws.” Self Storage Industry News. March 8, 2011.

How Can I Make Money With Storage Auctions

Storage Auctions - How To Win and Make Money Today

Author: Charles Myers

What is a Mini Storage Auction for Quick Cash? A mini storage auction is one of the best kept secrets in today's marketplace for making vast amounts of money without spending much time or effort. Of course, it does take some knowhow, but it is an earning possibility that just about anybody can master in a short period of time. To be able to earn money from a mini storage auction, however, you first need to know what it is.

A mini storage auction begins at the storage unit facility. This is a place where people can keep their things while they don't have anywhere else to put them. The customers for these places are assigned a unit which is locked with a key, and they pay a monthly fee for the use of the space. However, when a customer fails to pay his or her bill for a long enough time, the potential for the mini storage auction begins.

The owner of the storage facility has upheld his or her end of the bargain by keeping the customer's unit safe and secure, but if the customer doesn't pay for a certain length of time, then the agreement (signed by the customer when the unit was rented) states that the customer will receive a warning that the bill must be paid by a certain date, or the contents will be sold to try to recover what is owed.

Should the customer still fail to pay, the mini storage auction is set to begin. The mini storage auction is a completely legal process and occurs only when the storage facility owner has followed certain clear regulations. For example, after the final warning, the customer has to be given at least two more weeks to come up with the money before a mini storage auction can take place.

Then, the mini storage auction is advertised so that people can decide to participate. On the day of the mini storage auction, it's a good idea to arrive early so that you can have the opportunity to have a good look at the contents before placing a bid. The contents are not sold individually, but are sold as a complete unit - if you buy one thing, you've bought it all.

The highest bidder at a storage auction then wins the contents of the unit in question, and once that amount has been paid, he or she must remove those contents within the following 24 to 48 hours. The contents could be just about anything, from items that are completely useless to anyone but the original owner, to some real treasures. It's important to know the difference between the two, and to know what to do with them once you've purchased them.

For that, make sure to download your copy of Mini Storage Auction Riches today, and start profiting from the next mini storage auction tomorrow.

Article Source: http://www.articlesbase.com/collecting-articles/storage-auctions-how-to-win-and-make-money-today-4214513.html

About the Author
Charles Myers is an online marketing expert that can show you the hottest money making products that make money and how to use them to profit like never before. Download his hot new money making manual right now and get the low down on how easy and fun it is to make extra money on your weekends. Grab your free copy at:

Mini Storage Auction Riches

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