Author - Tiana Bodine

Online Storage Auctions

As laws start to change to keep up with technology, the world of storage auctions has begun to change as well. Now, virtual storage auctions are swiftly gaining in popularity thanks to their convenience and effectiveness.

These auctions are a great choice for private sellers, storage facilities, auctioneers and auction hunters alike. If you’re never considered selling anything through an online storage auction before, here are a few tips to ensure your success:

Take high-quality photographs. The people bidding on your unit will only have these photos to go by, so you’ll want to be sure they’re as good as possible. Get good lighting and zoom in on objects to show clearly what they are. Try to get several angles of the unit.
Don’t take any photos that show the unit’s number, and don’t list the unit number on your ad or the auction listing’s page. This will prevent break-ins. After the unit has been sold, you can provide that information discreetly to the person who made the winning bid.
Describe items accurately and honestly. Don’t try to write a sales pitch of anything, and don’t make any sweeping statements about the quality of the item unless you know it’s true. Focus instead on the facts, you don’t want to get in trouble for making false claims about whether an item works or is in perfect condition.
Give the unit plenty of time to attract interest, but not so long that the bidders get exhausted. An auction that runs from 10-14 days is usually the best as it gives us ample time to market the unit.
Remember to link to the auction from multiple sources. Mention OnlineStorageAuctions.com in your notice of public sale, on your website, and all of your social media accounts. The wider your exposure, the more bidders you’ll receive and the higher your bids will be.
Be sure to list any special terms, conditions or limitations you may have and spell them out clearly to prevent confusion.
As virtual storage auctions become more mainstream, you will start getting even more traffic to your online auctions. One day, these online storage auctions may totally eclipse live auctions. Until then, you can use these tips to maximize your earnings from any virtual auction you choose to run.

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Have the Storage Auction Shows Made Renters More Responsible?

August 28, 2013

Self-Storage, Storage Auctions 101

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Shows like Storage Wars have undoubtedly had an effect on storage auctions for buyers.

Although the crowds of enthusiastic newbies have abated, storage auctions are still more mainstream than ever before. The larger crowds have caused prices to rise in some places.

This isn’t the only change that’s come from the storage auction craze, however. Some facilities are also discovering that Storage Wars and its ilk are encouraging renters to pay their rent on time.

This makes sense. After all, Storage Wars is a popular show, and most of the people who tune in every week have no intention of bidding on a storage unit – but they may well be storing items of their own. Watching other people lose their units to eager bidders might gently remind these people that they need to take better care of their belongings.

There are several reasons why watching a storage auction TV show should reduce the number of delinquent tenants. The first is that tenants might not fully understand the consequences of delinquent rent. Even if the lien auction details are explained thoroughly in the rental agreement, it may not seem “real” to the renter. Seeing it in action, however, can underline the importance of paying rent on time.

Another reason is that renters might think twice about the value of their stored items. Most of the time, when a unit goes up for auction, it’s because the renter decided that the items being stored were not worth the cost of storing them. When the bill goes too high, the renter decides to abandon the contents of the unit.

However, when buyers on the TV are seen picking up ordinary-looking items from storage units and selling them at a substantial profit, it might make renters reconsider.

There might be some treasures hidden away in their units, after all, and recovering those items before someone else does is a good reason to pay rent on time. Of course, most units don’t have any hidden treasures, but even everyday household items can hold some value.

Embarrassment also plays a big role in encouraging tenants to pay rent on time. The knowledge that a stranger might see the contents of your unit, handle your personal belongings, resell your items and judge – even anonymously – is very motivating.

Altogether, the storage auction shows have definitely made a major impact on every aspect of the auction business. But even then, there’s no shortage of units for sale.

For every renter who abandons a unit willingly, there are always plenty of others who had no choice: Those who pass away, are imprisoned or experience sudden hardship. Though renters may be paying their rent more reliably, we’re unlikely to see an end to self storage auctions any time soon.

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Will Electronic Rent Payments Reduce the Number of Units Available?

August 19, 2013

Self-Storage

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Storage units go up for auction whenever their owners fall behind on payments.

This means that, without delinquent tenants, there would be no auctions and no resale business.

That makes some auction-hunters nervous about anything that might reduce the incidence of delinquency and the availability of units.

Across the country, some storage facilities are choosing to streamline their rental process by offering electronic kiosks.

These kiosks take payments 24 hours a day, which allows renters to pay their bill without ever needing to talk to anyone. Some facilities take this a step further by letting their renters pay the bill online or even reserve a unit electronically without needing to talk to the facility.

As this technology becomes more common, some auction hunters begin to wonder: Does this mean that fewer units will go into default, resulting in fewer sales?

Electronic bill bay is very convenient, and it undoubtedly will help some renters pay their bills on time. It most likely will not do much to reduce the number of delinquent tenants, however, so this technology should do little to stop storage units form going up for auction.

This is because units don’t become delinquent after just one missed payment. It usually requires two or three months of delinquent payments.

By that point, convenience is most likely not the renter’s primary concern. If kiosks allow partial payments, which could keep the unit from going into default, that may prevent a handful of delinquencies, but the majority of people who fall behind on storage unit payments enough to lose their unit do so because of extenuating circumstances like poverty, incarceration or death.

The tenants who would have lost these units previously would most likely do so anyway regardless of what bill-paying options were available.

On the other hand, there are a few benefits to electronic bill payment. For some people, financial troubles are accompanied by extreme guilt or shame. These people may be afraid to talk to the storage facilities about payment plans, but might be willing to make partial payments electronically in order to save their units.

All in all, electronic rent payment is something that auction-goers shouldn’t worry too much about. It’s something that will likely work to make things easier for storage facilities and renters without having much long-lasting effect on the storage auction business.

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Storage Auctions as a Great Side Business for Teachers

August 19, 2013

Online Storage Auctions

Auction-hunting is a great business opportunity for many people, but it’s particularly valuable as side income for people with a fair amount of free time.

There’s a good reason why so many of the traditional auction-hunting crowd are retirees: Going to auctions can be very time-consuming, and it’s not always lucrative enough to support a full-time income.

In order to run a successful resale business, you will need to have some extra spending money, storage space, patience and enough time to sell the items you find.

Without all of these factors, you won’t be able to make a profit. This is what turns a lot of people away from the resale business: It’s not always easy to keep a job to pay your bills while attending auctions and selling items.

There are, however, a few people who are better-suited to this lifestyle than others. One group who can certainly benefit from the resale business are teachers. Summer is prime auction season, and you can use some of your free time during the vacation to pick up a few units.

If you have some storage space, the contents of these units can be sold slowly throughout the year. This allows you to hold onto the good items you find until you can find the right buyer or the items gain popularity.

For example, you can hold onto all of the Halloween and Christmas items you find over the summer and put them up for sale before the holidays to maximize profits. Since you don’t need to worry about making an immediate profit, you can afford to wait until things are worth more and then resell them.

Throughout the school year, you can sell the items you bought over the summer at flea markets or weekend yard sales. You can also run a virtual storefront on a resale site like eBay to allow you to sell items with minimal effort. This can allow you to gain a slow extra income throughout the year without needing to do any additional work after the end of the summer.

Another valuable option is to move the items you purchase into a storage unit of your own, and auction that unit online through OnlineStorageAuctions.com. That way, you can sell units in bulk to interested buyers and get money without needing to spend much time individually selling items.

Since storage auctions often slow down in the cooler months, virtual auctions might gain in popularity among full-time resellers, and you have an option for selling off things that could otherwise be challenging to sell one at a time.

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Can You Make a Profit on Rare Books?

August 19, 2013

Most of the items at the core of your resale career will be quick and easy to sell. The key to making a profit is always to find items that will sell quickly and easily for a profit.

All the same, you may often come across items that aren’t so immediately profitable – but that doesn’t mean that they can’t be sold with enough time, patience and technique.

One hidden source of income is rare books. You won’t come across these very often, but when you do, it pays to know what to do with them. While most used books you find will be lucky to resell for a few cents, a few can be worth hundreds or even thousands of dollars.

These include first editions, signed copies and other popular rare books. You’ll sometimes find these in the units of collectors, librarians or senior citizens who never realized what they had.

If you find some interesting-looking old books, here are a few signs that they might be worth something:

The book is a first edition; the older the better.
The book is in excellent condition, with minimal signs of wear.
The book is from a very popular or famous author.
The book is signed by the author.
The book is an “advanced reading copy” of some very popular title.

The more of these factors that are true for your book, the better your odds that it will be worth something. Set aside any of these books that you might find, and take some time to research their value when you get a chance. Here are some resources:

Check eBay to see whether the book has been listed recently or is currently selling.
Use TerraPeak or Worthpoint to find older sales history for books not found on eBay
Check Etsy to see whether they’re being sold as vintage books that way
Do some basic searching to see if you can find out any details about the book’s rarity or value.

If none of that works, it might be worth stopping off at the library or a local used bookstore. Many cities have a rare books dealer who can provide you with more information about your find. They might even be able to point you toward an interested buyer or give other tips for selling.

Once you determine that your books might be worth something, your next task is finding buyers. As with other valuable collectibles, you might need to spend some time searching for the right customer.

If the local rare bookstore or dealer will buy the book, that’s one simple solution. You can also try your luck with eBay. If that doesn’t work, you might also have some good luck reaching out to people on book enthusiast forms or other locations where collectors congregate.

Selling rare books isn’t always easy, but it can be fun and profitable. The next time you find boxes filled with books in a storage unit, take a few minutes to look through them and see whether any appear to be valuable. Otherwise, you might be losing out on some serious cash.

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What to Do If You Find Human Remains in a Storage Unit

August 19, 2013

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Although it’s not exactly common, it’s also not unlikely to come across human remains in a storage unit.

Most of the time, these will be in the form of cremains, which are often stored along with the rest of a family’s belongings during a move or other transition period.

Occasionally, though, you’ll find something weirder: A coffin, formaldehyde-preserved body parts or even a murder victim.

Within the past few years, all of these have been found and turned into pretty high-profile cases, and it’s not impossible that it could happen to you as well.

So, how do you prepare for the possibility of finding a body or other remains in a storage facility? Knowing what your options are in advance will help you make a smart decision if that comes to pass.

First off, it’s always best to play it safe any time you find anything suspicious in a storage unit. If there’s even the slightest chance that foul play was involved, you need to call the cops immediately and have them deal with it.

Of course, this probably won’t be too hard as most auction hunters have very little desire to take human remains home with them. Just be aware that the contents of your unit may be seized temporarily or permanently if a criminal investigation is warranted.

In the case of cremains, you have a few options. The first and simplest is to simply leave them, along with any other personal effects, with the facility manager, who may then try to contact the original tenant to return them. You can also try to get the tenant’s contact information and try to return the cremains yourself.

In most cases, families will be relieved to get such a personal item returned to them. Occasionally, though, they can be a bit combative with you about the other items you may have kept for yourself from the unit.

If the original tenant cannot be found, your next best option is to contact a funeral home in the area. They may be able to identify the cremains based on any information you can provide about the tenant, allowing you another channel for communicating with the tenant.

They may also be willing to hold onto the cremains for you or tell you how they can be properly disposed of as there are state laws governing the storage and disposal of ashes.

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How to Find Storage Auctions in Your Town

August 8, 2013

One of the biggest challenges of getting started in the storage auction business is figuring out when and where the auctions happen.

This is especially difficult if you don’t know anybody else who’s already doing storage auctions for a living or as a hobby. Fortunately, with a bit of digging, you can find the auctions in your town and take advantage of the thrill of auction hunting.

The first place to look is your local newspaper. Storage facilities must post a notice of their auctions in a public place, and most choose to do this through the city paper.

If you live in a big city, check some of the smaller papers for surrounding suburbs; these papers are cheaper, which makes them more attractive to storage facilities.

This will also give you access to the auctions held by smaller storage facilities, which often have fewer attendees, making it easier to get items for a decent price.

Aside from the newspaper, you can also try calling the storage facilities directly or checking their websites. Some facilities do post their auction schedules online, and you can keep track of them on your calendar.

If you do choose to call the facilities for information, just beware that the facility may have already fielded many phone calls and could be impatient with you. It’s best to try to find the information on your own first.

One of the best resources to find storage auctions is an online storage auction directory. These are available at both the national and state level. Whenever you can, try to use a local service.

For example, Texas residents can subscribe to the Texas Storage Auction Schedules & News site; residents in other states may have similar services.

The way these services work is pretty simple. The staff calls thousands of storage facilities and scours the Internet and other sources to determine what auctions are being held in a given area, and then provides that information to you in exchange for a subscription fee.

Considering how convenient the service is, the fee will pay for itself by saving you a lot of time. Just beware of the larger national listings as their results are often vague and not worth the price.

Once you start attending auctions, you’ll be able to network with auctioneers, facility managers and other auction attendees to get insider information about upcoming auctions.

Just be sure to track all of these auctions on your smartphone or pocket calendar so you know when a big sale will happen; that way you won’t miss anything important.

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Using a Storage Auction to Furnish Your House

July 25, 2013

Thanks to Storage Wars and all of its spin-offs, people are looking toward self storage auctions as a money-making opportunity.

Everyone wants the chance to find hidden treasures and resell them for hefty profits.

There’s another side to the storage auction business, though, and it’s one that can save you money and be a lot of fun all on its own: Using storage auctions to buy things you really want for yourself.

Consider this: Most of the time, people use storage units as a way to store items during transitional periods in their lives.

Many units are filled with things left over from moving from one home to another. It makes sense, then, that a buyer could easily fill up a new home with items bought at a storage auction.

Here are some of the common household items that can frequently be found in storage units:

Small appliances like coffee makers, bread machines and stand mixers
Electronic devices like televisions and gaming systems
Large appliances like stoves, refrigerators and washing machines
Exercise equipment like treadmills or stationary bikes
Clothes, jewelry, handbags and other accessories
Children’s toys and playground equipment
Office supplies and furniture
Home furnishings like couches and beds

Many of these items can be difficult to resell for a quick profit, so auction bidders might not be interested in them. Dedicated resellers will be on the look-out for antiques and collectibles, and they’ll have little interest in couches and dishes.

If you’re looking for a way to furnish a new home, though, these cheap units might have exactly what you need. Additionally, they’ll often be cheaper than they would be anywhere else.

After all, the reseller on Craigslist or the local thrift store has to mark up his or her items in order to make a profit; at a storage auction, you can get those same items without the markup.

Try to target your storage facilities by neighborhood to find the best items for your home. For example, find a storage facility near a college campus to find furnishings for your child’s dorm room, or pick a neighborhood with a lot of families to find toys and playground equipment.

Since you’ll be shopping for yourself, you don’t have to worry about guessing what something might be worth. You only have to ask yourself two questions: Do you like it, and are you happy with the price?

As long as the answer to both is “yes,” you can fill up your house or apartment with second-hand goods for an even lower price than if you were shopping at a thrift store or picking items up off Craigslist.

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Should You Store Your Auction Findings?

July 25, 2013