Sometimes the renter of a storage unit is unable to keep up with payments for one reason or another. If a renter defaults, the owner of the storage facility tries to recoup the losses by auctioning off the contents of the storage unit. Storage auctions Petaluma can be a lucrative business in themselves for the people who purchase the contents and then sell them. However, it is also a speculation. You do not know what you are going to get, and you are only allowed a tiny peek into the storage unit before bidding begins. You could end up overpaying for a lot of junk.
While there is a lot of uncertainty involved in a storage unit auction, there are some strategies you can use to improve your chances of bringing home treasure instead of trash.
1. Know Where To Resell
You can resell anything of value that you gain in a storage unit auction at places like antique stores, flea markets, and consignment shops. If you are not already familiar with these, you can do an internet search to locate any places in your area that might be interested in buying. You can also sell online through platforms like Craigslist and eBay.
2. Observe the Process
The first few times you attend storage auctions, you should not make any bids but simply observe how the process works. After the auction is over, you can talk to the winners about the strategies they employ and the mistakes they try to avoid.
3. Pay Attention
You only get a brief look inside the storage unit before bidding begins, so be sure to make the most of it. Bid based on what you can see rather than what you imagine may be contained in those tantalizing boxes. Unless you see something really good in a unit that is almost empty, skip it over. The owner probably already came and took the good stuff prior to the auction.
Bear in mind that if you win the auction, the contents of the unit become your responsibility. You’ll have to completely clear it out and clean it within a matter of days.