First experience using Storage Battles wasn't a good one!

So had a unit full of product worth serious $$$$ and i had the high bid all week long so called the facility 3 hours before auction ended to verify the address and they tell me that there is a problem with the account for the unit im bidding on. I asked if the owner of the unit paid they said no and removed it right then. Maybe i always think the worst in people but a unit worth a ton of money selling for pennies on the dollar i assume the owner of the facility wanted it for himself. 

Unfortunately, that happens, but put yourself in the storage operator's shoes. If you listed a $500 piece of jewelry for sale on eBay, and the auction was about close for $20, you'd cancel the auction right? They're only human.

Storage Battles just got too big too fast and unfortunately they aren't able to market the units adequately, which results in the occasional good deal for you and I, but storage operators are taking a real loss. Then, adding insult to injury, the storage operator is paying 25% commission on the units they sell.

I talked to a storage facility today that put the wrong date in their legal notice. Instead of listing February 6th, they listed January 6th (which has obviously passed.) Well, Storage Battles/Treasures has a $20 cancellation fee per unit. They had 11 units listed with them, so they got taxed $220.  When will they learn that they don't have to pay fees?

I talked to a storage facility today that put the wrong date in their legal notice. Instead of listing February 6th, they listed January 6th (which has obviously passed.) Well, Storage Battles/Treasures has a $20 cancellation fee per unit. They had 11 units listed with them, so they got taxed $220.  When will they learn that they don't have to pay fees?

The storage facilities just passed that fee down to the tenant and if/when the unit sells - That's less money the tenant gets back. 

I wouldn't blame SB for the listing being removed by a storage company, it's the storage companies fault, like travis said they could of listed the wrong date on the public notices, or spelled the tenants name wrong, or a myriad of other issues. The last thing the care about is what the unit goes for when they sell it. The main issues are the legal issues (that's where the cost comes in if they do it wrong).

I find it interesting looking at the auctions on Storage Battles & Storage Treasures I can see who in this industry is making a good living and who is struggling just based on quality of content and competition/bidding. It's kinda of funny to see a unit close in one State at $200 and then in another state a unit that appears to be same size, same volume, same quality closes at $600. I can't help but think the people who live in the $200 unit State think "This business isn't that bad, we make pretty decent money."    and the people who live in the $600 unit State think "This business sucks! TV shows ruined everything!!" 

This same thing happens with on-site auctions too. For various reasons units get pulled at the last minute and do not get auctioned off. The only real difference with the online auction is that you get teased by seeing the contents before it gets pulled.

This same thing happens with on-site auctions too. For various reasons units get pulled at the last minute and do not get auctioned off. The only real difference with the online auction is that you get teased by seeing the contents before it gets pulled.

Yeah I know I've been doing this for a few years now, but the way they were talking to me just seemed shady, the owner never paid and the fact that I could make $20,000 - $40,000 + on that unit I have a sneaking suspicion that the owner of the facility took it for himself. I know they aren't allowed to do that but all they really have to do is sell it to a cousin for a couple of $$ and its theirs, I've seen it happen before.

I know they aren't allowed to do that but all they really have to do is sell it to a cousin for a couple of $$ and its theirs, I've seen it happen before.

Actually, in some states, that's totally permissible. Even at live auctions, a storage facility could easily remove units they want to keep.

All they have to do is run the legal notice, have the auction, cousin Vinny bids as much as it takes to buy the unit, cousin Vinny is the last in line to pay for his unit, manager records a $50 winning bid instead of the $2,000 bid that was made, cousin Vinny and manager sell contents and split the profit.

 

manager records a $50 winning bid instead of the $2,000 bid that was made, cousin Vinny and manager sell contents and split the profit.

And if the tenant for that unit was at the auction and knew it went for $2K instead of $50...what then?

And if the tenant for that unit was at the auction and knew it went for $2K instead of $50...what then?

I guess they'd have to cut the tenant a check for any overage. But keep in mind, most tenants don't know the lien laws like we do. Most aren't aware that they're entitled to an overage in some states.

So had a unit full of product worth serious $$$$ and i had the high bid all week long so called the facility 3 hours before auction ended to verify the address and they tell me that there is a problem with the account for the unit im bidding on. I asked if the owner of the unit paid they said no and removed it right then. Maybe i always think the worst in people but a unit worth a ton of money selling for pennies on the dollar i assume the owner of the facility wanted it for himself. 

Its better than it happened 3 days before than you actually winning and driving there only to have them pull it then... which happened to me.

In regards to facilities taking them off the block many contracts in ny state that once a unit is considered delinquent all items in the room belong to the facility.  They can give it to their cousin, keep it for themselves or keep the proceeds.