Online storage auctions are quickly gaining traction due to their convenience, and they offer benefits to storage facilities and bidders alike.
By understanding how these auctions work and why they are so much more effective than traditional auctions, you can gain insight into the future of the industry.
Until recently, online storage auctions were not a feasible option for people in the business.
Some state lien laws require auctions to be held at the facility or a reasonably near public place, and it’s not clear to many storage facilities whether the Internet can truly qualify. Additionally, until recently there was not enough virtual infrastructure to truly promote these auctions and secure bidders.
All of that has changed, however, thanks to the growing popularity of storage auctions. New auction-goers are more tech-savvy than ever, and they’re already accustomed to spending time online searching for auctions and researching units. By placing real units for sale within their grasp, a storage facility can pique buyer interest and secure more thoughtful bids. This is one reason why virtual storage auctions earn as much as twice the amount of traditional auctions.
OnlineStorageAuctions.com is a great choice for bidders; serious bidders no longer need to waste time and gas traveling to multiple auctions in a day. Instead, they can bid from the comfort of home or while attending to their own businesses, which maximizes their efficiency. They also have more time to research units and budget for their bids. Overall, serious resellers can benefit tremendously by taking advantage of online auctions.
Storage facilities can also benefit from these auctions. The presence of large crowds causes logistical nightmares for many facility managers, from problems with parking to the increase in liability risks. By trimming the number of people visiting the storage facility while keeping the earnings from auctions high, virtual storage auctions present the ideal solution to facility managers.
In order to side-step the legal issues of “at the storage facility or reasonably near public place,” storage facilities can begin running their auctions concurrently. Once the units are listed online, be sure to mention the URL of the online storage auction service you’re using in your legal notice.
This encourages bidders to search for it online first and make their initial bids. When the traditional auction starts, the bids gathered online can be the starting bids offered. As local auction-goers in the area become savvy to this technique, they will focus more attention on the Internet, which allows facility managers to earn the highest possible bid without an overwhelming crowd at the facility.
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