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Storage unit auctions are open to the general public with most bidders buying valuables for the purpose of reselling them for profit. These auctions are a great way to buy secondhand merchandise for pennies on the wholesale dollar. If you are someone who sells at flea markets, garage sales or on eBay, you will probably find storage auctions to be one of your best sources for merchandise. If you want to get into this fantastic means of making easy money, come to a scheduled action at least 10-15 minutes before the auction starts. By doing so, you will know the bidding rules and mechanics. The self-storage facility or auctioneer will have participants fill a sign-in sheet and then read the company's rules as well as the terms and conditions of the auction. The terms and conditions will vary with each site. Most auctions are done verbally in contrast to sealed bids in other negotiated contracts in which documents are exchanged without a word. In storage unit auctions, cash is the only acceptable form of payment and sales tax will be charged if the buyer cannot show a valid resale license and proper identification. Storage auctions are indeed very much different from most types of auctions. Here, you usually bid on the entire contents of a unit or lot. These units are viewed by bidders one after the other, which viewing is confined to the doorway entrance of the storage unit or container. The bidding starts after all bidders have done their appraisal of the property. Bids sometimes start out as low as $1 and can go upwards depending on the property being sold and the interest of participants to place higher bids. Experience shows that the average price quotation for storage unit lots or units is $300. Once the highest bidder wins, he is expected to clean out all the content of the unit within the time specified by the self-storage facility. You really never know what you will find in a unit. Most items are general household goods, furniture, electronic, clothing and personal records. Winning bidders sometimes find money, jewelry, antiques and collectibles at these auctions. It is not uncommon to find someone's whole household or business in a unit, which means that you could end up with someone's life collection. Remember, you are viewing the property from an open entrance into a storage unit or container such that boxes and plastics storage containers can yield almost anything. Some units are packed so tight that you won't have the luxury of getting a view of the items. You can find out through various sources where storage auctions take place. There are legal notices in newspapers, web sites and auctioneers who all provide very limited schedules of self storage auctions. By using all these sources it is impossible to find out when and where all these auctions will be conducted. Calling the different self-storage companies will give you the best results.

Gilbert Manabat is a storage unit auction expert. For more great information on storage unit for auction, visit

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