Friday, August 27, 2010

Storage Unit Auctions

Finding items to sell on eBay can be challenging and sometimes sellers have to get creative. Another option for securing inventory is Storage Facility Auctions. Once a tenant has stopped paying rent for their unit the management auctions off the goods in eviction. These auctions are usually advertised in your local newspaper a week or two prior to the auction and are open to the public. Be prepared. In some areas these auctions draw a large crowd of eBay and Craigslist sellers in addition to regular folks just looking for a bargain.

Here are few suggestions for navigating this type of auction. Sometimes the auction requirements will be listed in the newspaper announcement. If not, be prepared to pay cash. It is normally the only accepted method of payment. Keep an open mind. You might get lucky and uncover something valuable but in most cases storage units will contain furniture, clothing, miscellaneous household goods, and office supplies.

These auctions are a cash and carry arrangement. The unit contents need to be off the property by the end of the day. Plan ahead. Bring a large vehicle and the appropriate tools—a hand truck, rope, blankets and an extra pair of strong arms. In case you need to make a couple of trips from the unit bring a lock to secure it while you are gone. It is your responsibility to haul away the all the goods. There will be unwanted items and trash. These items should be disposed of properly by donating the usable items to Goodwill or another organization and disposing of the trash. The storage facility will not let you use their dumpster.

Click here to find out more about making money on eBay, Amazon, and Craigslist with storage unit auctions.
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