Storage Auctions are usually Live Onsite or Online Auctions. During Live Onsite Auctions bidders will be able to view the contents of the unit. However, they are not allowed to move any of the items or open any boxes. During Online Auctions, the auctioneers will load an image of the unit for bidders to see what is in the unit.
The registration process for either is the same as any other auction. To participate bidders have to register with the relevant auctioneer, pay the refundable registration deposit (if required) and submit their FICA documents.
The auctioneer will open the bidding by asking for a first bid and participants will place their bids until the highest bidder wins the storage unit. Once the bidder has paid, they generally have 24 – 72 hours to clear the unit, some storage facilities require the unit to be cleared immediately.
Do you own a Storage Unit Company and are looking to host an Online Auction?
