If you've been in the storage auction and resale business for long, you've probably heard about online storage auctions, at least in passing. These auctions are the newest trend in resale, and they're growing in popularity as people learn about their convenience and take full advantage of them. If you've never taken part in an online auction, though, you may be reluctant to try it out. Fortunately, it's easy to participate in an auction -- and it costs nothing aside from the cost of the winning bid itself.
How Online Auctions Work
Online self storage auctions take place when a unit is photographed and placed on a site where bidders can view the unit and make bids. The bidding process is similar to eBay and other online auction sites. At the end of the auction, the bidder exchanges money with the person auctioning off the unit, and goods change hands.
Until recently, online auctions were prohibited in many states due to lien laws. Now those laws are being revised to allow facilities to put units for sale. Additionally, there are ways to sidestep the lien laws, such as running an online auction in tandem with a live auction. Finally, private sellers can take advantage of online auctions as well, so not every auction you see will be a lien sale.
Do Online Auctions Cost Anything to Attend
In terms of cost, this varies depending on what auction service you use. Some of the auction sites do charge fees to both buyers and sellers. They may collect a bidder's personal information and charge for each bid or transaction. Others may take a percentage off the top of the winning bid and pocket that money.
Not every site works that way, however, and you can save money by using a site with no overhead cost. The fastest-growing of these is OnlineStorageAuctons.com, a site dedicated to developing online storage auctions without taking money from the pockets of buyers or sellers.
OnlineStorageAuctions.com acts as a mediator between buyers and sellers. It offers a platform for users to engage in auctions and purchase items, and it also enables users to leave feedback and participate in the world's largest storage auction community. It does not, however, collect any credit card information or otherwise charge its users.