When you visit a public self-storage auction, the units you bid on will generally be sold by the storage facility as a way to satisfy a lien.
This isn’t always the case with virtual auctions. While online auctions are certainly a great place to find lien sales, they’re also a source of units being sold by private sellers. Online storage auctions offer tremendous benefits to buyers and sellers alike.
There are several reasons a private seller might choose to auction of his own storage unit. Perhaps he’s running behind on his rent and wants to sell off the contents of the unit before he gets evicted.
Maybe he’s realized he doesn’t want his stored items any more and would rather sell them than pay to store them. Or maybe he’s a fellow auction hunter who’s bought units he doesn’t want to bother with re-selling piece-by-piece. Whatever the reason, private online storage unit sales are a great opportunity.
Why Private Sales Are Good for Buyers:
- You deal directly with the owner of the unit’s contents, and you can back out of the sale if the unit isn’t consistent with what’s been advertised.
- The units may be of higher quality than those from a regular lien sale.
- You can buy items in bulk rather than searching for them piece-by-piece on eBay or Craigslist.
- Private sales offer resellers a low cost source of inventory.
Why Private Sales Are Good for Sellers:
- You can sell off unwanted items for free and get money in your pocket.
- You don’t have to haul away unwanted items from a storage unit.
- You can stop paying rent on stuff you’re not using anyway.
- It’s easier to sell a bulk lot of household items than try to sell them individually at a yard sale.
- If you’re in financial trouble, you can sell of your merchandise before you get behind on your rent and lose your property.
If you buy and sell a large number of units on a regular basis, you’re bound to end up with large quantities of items that will take you a long time to sell.
Rather than spend time and energy donating them or selling them individually through other sites, consider consolidating your items into a single storage unit and offering it for sale to interested buyers. Since online storage auctions tend to earn more money than live auctions, you’ll be sure to get the best price.
You’ll then be free of the small items and can focus your attention on selling the biggest pieces for a good profit.
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