Can You Make Money at a Storage Auction?

Can You Make Money at a Storage Auction?

Across the US, many folks have taken to the bustling business of bidding at storage auctions with the hope of turning a nice profit. If you have attended one of these auctions or seen the crowd that gathers at one as you visit your own self-storage units in Concord, you may have observed the popularity and high-energy of these events. While storage unit auctions can be a bit of a gamble – few allow bidders to spend time perusing the contents of the unit and instead offer a brief glimpse of the front of the unit just before bidding starts – there are a few things you can do to help your chances of making a good bet. Read on to learn some helpful tips for bidding on a storage auction and getting the most bang for your buck. 

Tips for evaluating units before bidding

At most storage auctions, the whole of the unit’s contents are what people bid on and since bidders often do not get the chance to look over the items in a storage unit, it’s important to make some quick, educated guesses about the unit’s worth. For example: 

  • Does the unit appear well organized? If so, the care taken in keeping the unit orderly could indicate more valuable items or at least items that are in good condition. 
  • Does the unit smell musty? If the unit gives off an unpleasant odor, like that of mildew or cigarette smoke, the chances are good that the items will be water damaged or will need repair or cleaning before fetching a good price. 
  • Are the items stored in professional moving boxes? Professional movers can be an expensive service and one not typically used for moving and storing junk. If it looks like the items in the unit were packed and hauled by professional movers, that is a good sign.  

General auction tips

Beyond these ideas for quickly assessing storage units before bidding on them, there are a few good things to keep in mind when it comes to bidding at storage auctions in general. For one, remember to bring a flashlight. Not all units will have a well-lit interior, and a flashlight is crucial in helping you get a good look. It is also important to set a budget before bidding and stick to that budget. You don’t want to get stuck in a situation where you’ve overspent your limit and the items in the unit, for whatever reason, don’t make your money back. 

And if you need a place to store your newly acquired items before appraisal and resale, you can contact Abba Storage today. Our customer service team would be happy to discuss the variety of storage solutions we offer and find one that fits your needs and budget. Whether you want a small self-storage unit or need a warehouse for rent, we can help you get started. 

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