Storage Auctions
The Storage Locker => General Storage Auction Talk => Topic started by: Travis on September 23, 2014, 02:14:16 AM
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Sometime storage units are packed so full, the door won't roll up. Some auctioneers sell these units as is. They're a total gamble, but sometimes they can really pay off. When a door won't open, do you bid on it? If so, how do you determine your max bid? Have you ever bought a unit unseen, and if so, how did it work out for you?
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Main rule of mine is to only bid on what you can see. My price for units that won't open is at most $1.
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That's my #1 rule as well, but I'll gamble a little on units like these. Might go $100 on a 5X10, $200 on a 10X10. $400-500 on a 10X20 or larger. After all, if there's so much stuff packed in a unit that the door won't open, surely you'll at least make your money back.
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if there's so much stuff packed in a unit that the door won't open,
The unit could be empty and the door is just broken, or the unit could be full of trash in which case you spend 2 days making dump runs after paying for that privilege.
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The unit could be empty and the door is just broken, or the unit could be full of trash in which case you spend 2 days making dump runs after paying for that privilege.
True, but on the other hand, it could contain an entire household of items that would have sold for a lot more.
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i've bought units like that for $200 or so. bidding only on what you can see is BS in my opinion. I bid on the local area, the facility, the contents and the clues.
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How can they sell a unit that won't open? Don't they have to take a photo of the contents for legal purposes.
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How can they sell a unit that won't open? Don't they have to take a photo of the contents for legal purposes.
No, but some states do require a description of the contents to be placed in the legal notice. Some operators satisfy this requirement with a general statement like:
The property stored therein may include, but are not limited to general household items, appliances, boxes, bags, totes, tools, bedding, clothing, electronics, toys, books, files, furniture and miscellaneous items.
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Never been in that situation, but as I generally follow the rule "Bid on only what you see" pretty strictly (with a few exceptions that might make me bid another $50-150; after all, if it's all alright on the front or the area's good, I may gamble)...
Well, I probably wouldn't be as adventurous as some. In a very good area, for a large unit, I may go up to $250. Beyond that, I can't justify the potential loss. But I'm quite the cheapwad, really.
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I've seen it happen a few times. Bids went way above my comfort zone. Same thing happens around here when a unit full of neatly packed boxes comes up.