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New to Storage Auctions? / Noob question of the day.
« on: August 09, 2011, 07:01:11 AM »
I've been doing my research for storage unit auctions and such.
1) Is it normal for a storage facility to list the contents in the paper?
2) Is it normal for the facility to also bid on the units?
My concern is that many of these places may be cherry picking the goods when they are doing inspections in the case of #1 question. My second concern is them bidding in the auctions. While most bidders get only a few quick looks or maybe even up to 5 mins to look at a unit, they could of had days. So they know which to bid on and which not to. Or, they just run up the price to increase profit.
example:
The personal goods stored therein by the following may include, but are not limited to general household, furniture, boxes, clothes, and appliances.
103 - Gwendolyn Bennett- Books, Tv’s, furniture
289 - Leroy Mcmath - Desks and tapes
687 - John Mains - Books
688 - John Mains - Books
Purchases must be made with cash only and paid at the time of sale. All goods are sold as is and must be removed at the time of purchase. Extra Space Storage reserves the right to bid. Sale is subject to adjournment.
1) Is it normal for a storage facility to list the contents in the paper?
2) Is it normal for the facility to also bid on the units?
My concern is that many of these places may be cherry picking the goods when they are doing inspections in the case of #1 question. My second concern is them bidding in the auctions. While most bidders get only a few quick looks or maybe even up to 5 mins to look at a unit, they could of had days. So they know which to bid on and which not to. Or, they just run up the price to increase profit.
example:
The personal goods stored therein by the following may include, but are not limited to general household, furniture, boxes, clothes, and appliances.
103 - Gwendolyn Bennett- Books, Tv’s, furniture
289 - Leroy Mcmath - Desks and tapes
687 - John Mains - Books
688 - John Mains - Books
Purchases must be made with cash only and paid at the time of sale. All goods are sold as is and must be removed at the time of purchase. Extra Space Storage reserves the right to bid. Sale is subject to adjournment.