Bidding at Storage Auctions

Storage auctions are fascinating events, and if you're interested in checking one out, it's easy to participate. But before you jump into your storage hunter boots, we've provided some tips to help guide your storage auction experience.

Finding a Storage Auction

Finding an auction is simple with our SpareFoot Auctions search page. Just enter in your city or zip code and choose from the list of upcoming auctions. You can even RSVP to Facebook and share the event information with your friends. Just like anything else, storage auctions are more fun with a friend in tow.

Attending the Auction

Feel free to start by simply observing a storage auction, rather than jumping in to participate the first time. Understanding the facility and how it operates during an auction will make you more comfortable next time. Pay particular attention to how the auctioneer sells a unit to the highest bidder. Knowing when you're being oversold on a unit is an important advantage when the bidding gets hot.

You'll always want to arrive early so you have time to register. Opinions vary, but we recommend showing at least an hour early. You never know how many other bidders will show up, and sometimes you'll have an opportunity to survey the units beforehand. Bring plenty of cash, as most facilities don't allow any other form of payment. You'll also want a flashlight and a pair of gloves handy.

Many facilities require a fee for registering at the auction. Others ask for a “cleaning deposit,” which ensures the winner of the unit cleans everything out by a certain date. If you weren't a winner, that deposit will be returned to you at the close of the auction.

Bidding

If you tend to get competitive, bring along a friend you can trust to bring you out of a hot-headed unprofitable bidding war. Otherwise, write your current bank account balance on a scrap of paper and keep it in your pocket. It may sound silly, but this can be just the shake you need to bring yourself out of the danger of overspending.

When the bidding begins, the auctioneer will gather everyone to the unit. He or she will read the rules by which you should unquestioningly abide at the risk of exclusion from the auction. You will be allowed to glance into the unit without entering it or touching anything inside. Look for clues indicating the value of items in the unit. Generic moving boxes suggest more expensive contents than old appliance boxes. Dust on the ground, but not on the items, implies those items were shifted around, perhaps to remove the most valuable stuff before the lien took effect.

The bidding will begin after about five minutes, and then it's up to your gut instincts. Pay attention to the body language of the auctioneer and the facility manager. The auctioneer almost always has a better vantage point into the unit, and the facility manager might have been present when the previous owner moved in.

Paying

Congratulations! You've won your first unit, and what do you know? It's filled with bodily organs. Sell these on the black market as soon as you can. This is where the flashlight and gloves come in handy. All joking aside, It's your responsibility to go into the unit and clean it out by the date specified by the facility.