If you ve never been to a storage auction before, it can be a little intimidating your first time. Any experience can be scary the first time you ve done it, but having some information about what to expect can certainly ease the nerves particularly in the storage unit auction business. But knowing what to look for can be even more powerful, in fact it can be the exact thing that will set you apart from the competition.
So, how do you know if a particular unit is a good one and how do you know what to pay for it? Well here are some useful tips to help you decide to make that bid or save your money for the next unit.
It can t hurt to take a look at the lock While it shouldn t put too much weight to your decision, it certainly is worth taking account the type of lock on the door. If it is a nice, expensive looking lock then chances are the people forked out the extra dough to make sure their stuff would be properly secured. If it is a hunk of junk the unit is probably full of junk .
Consider the area of the storage facility It only stands to reason that the storage units would probably have nicer valuables in neighborhoods that are more upscale. Thats not to say you couldn t strike gold in a low rent area, but you want to stack the deck in your favor to gain that edge over the competition.
What to look for when the door opens Take into consideration the overall condition of the unit. People who valued their things will take the time to stack everything neatly and make sure their items are boxed or wrapped.
Speaking of boxes Look for boxes from moving companies instead of ones that were probably fished out of a dumpster from behind a strip mall or grocery store. Chances are if people spent money to move the stuff it was stuff worth spending the money to move it.
Use furniture as a quality identifier Try to identify if the furniture is high end or from a department store. For example is that end table made of real wood or laminate? Real wood is much more expensive and can be an indication of the quality of the things you can t see.
Can you tell the last time someone was there Look on the floor for fresh footprints to see if it looks like someone has been their recently to get anything of value out before they lost it. Also look to see if the boxes are opened and if they appear to have been recently picked through. If everything looks sealed up and tidy, check to see if there is an appreciable amount of dust accumulated on top of the items. This can be a great sign that the stuff has been there a while which is usually a good sign for quality merchandise.
Again, there aren t any guarantees of getting a good deal at storage unit auctions. But you can assure yourself a higher probability of success by observing some simple common sense principals. Make sure you arm yourself with knowledge before you begin your quest into the storage auction industry.
Until you gain experience, a good education is the only resource you have. Go to my blog to read the story of my first storage auction experience and learn about a great resource for getting educated about the storage unit auction business. Visit http://www.buildingmybankroll.com/the-real-storage-