The Ultimate Guide to Storage Auctions
Have you ever watched an episode of Storage Wars and wondered if storage auctions were really like that in real life? The truth is that almost every storage facility hosts monthly storage auctions, but few are like the ones seen on any TV reality series. However, each unit does have a value and rare or valuable items can be found at storage auctions – but not every storage until will contain a lottery-like find.
In Maryland, storage auctions must abide by Maryland Lien Law and there are very specific steps that must be taken before an auction can take place.
YourSpace Storage is not in the business of selling customers’ goods. We would rather provide moving & storage solutions than coordinate auctions. However, in certain circumstances, auctions are held to help recoup lost income. Note that auctions are a last-resort effort to collect on debt owed. Many months of contact and planning take place before the auction occurs.
How Can Storage Customers Avoid Having Items Auctioned?
The most important step any storage customer can take is make sure your rent is paid on time. YourSpace Storage offers automatic monthly payments and online account management to all customers, free of charge, as an added convenience.
Keep your contact information (including street address, email, and phone numbers) current with the storage facility. Unless stated in writing by the leaseholder, we must send correspondence regarding late payments, lease revisions, and auction notices to the Last Known Address shown on the lease. If you’re in the process of moving, be sure your address is updated after the move so you receive all news, alerts, and information related to your storage unit.
How Can I Find YourSpace Storage’s Auctions?
Our auctions are posted on our calendar as well as on monthly events. You can also learn about auctions on our Facebook, Google +, and Twitter pages.
What Should I Bring to an Auction?
Bring enough cash to cover anything you may want to bid on (and even a little more in the event you see other items of interest). Also, bring a valid state-issued photo ID with you.
How is the Auction Run?
Upon arrival, you’ll read and sign that you agree to the Auction Rules. The auctioneer will call the start of the auction and tour all bidders to each unit up for auction. Most storage units have a reserve price from which bidding will start. This reserve will be communicated to bidders before bidding begins. Each unit will be auctioned separately. Some months a facility may only have one unit for auction and other months there may be quite a few.
After all units have been auctioned, buyers report to the leasing office with the auctioneer to pay for their storage units and/or sign a new lease for the unit if they intend to store the items for a while.
Will You Tell Us What’s In a Storage Unit at the Auction?
Our employees cannot touch any items in the storage space. We are only able to communicate any visible items in the unit. Often, visible items will be stated in storage advertisements in general terms (such as “electronics and housewares”), but specific information will not be given. Before bidding on a unit, each bidder has the opportunity to look inside the unit from the outside.
Can I Bid on Just One Item in a Unit?
Bidders bid on units as a whole, items are not separated out for individual auction. If you see something you want, bid on it! There may be another treasure in the unit you can’t see.
What Should I Do if I Purchase an Auction Unit with Personal Items Inside?
Sometimes personal records, photographs, wedding certificates, and other personal or sentimental items are found in storage units. We ask that if you purchase a unit containing these items that you kindly return the items to us so the prior tenant can retrieve them.
How Long Can Items Stay in a Purchased Unit?
Once purchasing a storage unit, buyers have 24 hours to remove all items from the unit or enter into a month-to-month lease with YourSpace Storage. Current promotions do apply so it may be wise to store with us until you can sort through your new treasures!
Are There any Items that Can’t Be Sold at Auction?
Yes! We must report a unit that is known to contain medical supplies & pharmaceuticals, illegal drugs and paraphernalia , firearms, medical records,