It's almost been a year since I wrote about our self storage business,
Safe Storage and our auctions,
here. It took me this long to get around to attending an auction and writing about it. I'm not
that busy, no excuses, really.
Ever since the popular tv shows;
Auction Hunters and
Storage Wars, people are actually interested in storage auctions. Before that, no one cared. Storage auctions, yuck. But now, through the power of television, everyone asks us if we have auctions and what they are like.
Here's your inside look, at a
real storage auction.
The auctions are open to the public. Anyone can attend. Safe Storage has one each month. We get flea market regulars who sell anything they buy, they come to almost every auction, and then there are regular buying folks who are curious and just like to take a chance.
What are the most valuable, crazy things you have seen gone up for auction, in the twenty plus years you've owned Safe Storage, I ask the owner. Drugs? Weapons? Stolen Art? Nothing that exciting, turns out. (Except once, a living person came walking out from behind some boxes, of a locked unit that was opened up in front of an audience of hopeful bidders. I imagined, they let out a gasp.)
The most valuable items that have gone up for auction here have been scooters, motorcycles, cars and once a unit filled with Japanese art that went for several thousands.
The chance that you'll find anything of major value at a storage auction is low. Recently there's been news that these auction "reality" shows are not that real at all, and that high priced items are planted in the storage units. What a surprise. (Maybe those hair-pulling fights on Real Housewives shows are set up too...)
The laws behind auctioning off a storage unit are strict. As they should be, since we are dealing with peoples personal property here. It's almost as tough as evicting someone from their home. Letters are sent, public notices are run - very specific steps that are required by law - and every effort is made to work out an arrangement with the unit owner and avoid an auction.
Usually by the time a unit is going up for sale, the owner doesn't want it anymore and is walking away from it. The point of the auction is not to make a profit but to recoup any loses from unpaid rent.
Safe Storage auctions are done by a professional auctioneer;
Storage Auction Experts. They drive all over the area doing auctions at storage facilities.
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| Auctioneer has arrived. "I Bid 4U" |
Why don't we do our own auctions? (My step father asked). Good question. For us it's because we want to keep that part of the business separate from the storage business we are in. We are not in the business of auctioning off our customers things. We are in the business of providing storage. We call ourselves Storage Experts, after all.
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| Here are the rules. Listen up. |
On this day, the auction starts promptly at 12:30 (It's explained to me that they will not start a minute sooner then the announced start time, because in theory, the unit owner can still claim their possessions before the auction starts).
The auctioneer is Ryan, a super friendly guy, who looks way too young to have been doing this for 18 years, but that's what he told me. I asked all sorts of questions, this being my first auction and he was more than happy to tell me all about it.
Everyone gathers around the entrance of Safe Storage. I counted about thirty people. Mostly men, but also two women and one child, and a baby. Ryan, makes an announcement, going over all the rules quickly; on this day there are four units that will be shown, cash only, you have to pay sales tax unless you have a sellers permit, no touching anything in the unit, you have two days to clear the unit out, no smoking...
Also, it's mentioned that Safe Storage asks that all personal items like photographs and paperwork be turned in, in case the original owner wants to claim it.
And we're off to the first unit...
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| Entering... |
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This shopper comes prepared with
a big flash light. |
Everyone crowds around the unit, the lock on the door is cut while people watch - to ensure that the storage owners have not gone through the contents. As the door opens, people line up to take a peak. Some shoppers have flashlights and take their time scanning around with their light, trying to identify if there's anything of value.
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| Ryan, auctioning off filled garbage bags. |
For this unit we see about five, filled, tied up garbage bags. What's inside? Clothes? Dirt? No one knows, but the consensus seems to be that it's nothing valuable as some participants stand back, clearly not interested in bidding at all.
I think that unit went for $5. After the money is handed over, the unit is closed up by the new owner, and locked with his own lock that he brought with him. He's asked when he's coming to clear out this unit, and reminded of the 48 hour policy. We don't want yet another abandoned unit on our hands.
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| Walking to the next unit, past our famous graffiti wall. |
Next we got to unit that is an "inside" unit, so it's in a long narrow hallway. We all crowd in there, squeezing past each other in a line, for the viewing. The unit has a jumble of things, hard to tell if there's any value. I see some bike helmets, bookcases, bags and containers filled with things, lots of odds and ends. One veteran bidder yells out, "Ryan, start this one at $75!" In the end that unit goes for $200, and the helpful guy who wants to set the starting price is outbid.
There are only four units to go visit this time. Usually there are about seven to ten units. We trek around the site looking at each one. It's all over in about thirty minutes. One unit sold for $1.
And so there you have it. A look into a real life storage Auction.