Guest Post: Storage Auctions Go Virtual By Gregory D’atri-Guiran

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    The latest trend in abandoned unit disposal is the online storage auction.  Similar to Ebay, the storage auction process is now fully automated. The benefit of processing lockers this way is that a fully accountable arms-length sale occurs – with a public record of the bidding process.  Your business is renting storage space not selling off customer contents, so why deal with the hordes of traffic that have been created by the popularity of the Storage Wars TV program?  Your front desk staff should be busy handling rental customers and doing marketing of rental space, not dealing with bargain hunters looking to pick the bones of the abandoned.

    One major disadvantage to on site storage auctions is the need to have several units to sell in order to make the work of holding an auction worthwhile, this results in holding on to abandoned units and accumulating outstanding rents that are likely not recoverable.

    With the online auction a simple video of the locker is recorded on your iPhone and submitted to Bid13.com for editing and posting. This simulates the on site experience without the hassle to the storage facility. They can be processed as a one-off so there is no need to hold the units longer than required by statute and your contractual agreement.  There is no cost for an auctioneer as the fees are all paid by the winning bidder.

    The internet gives you access to thousands of bidders who can submit their bids from the convenience of their computer. This attracts more and better bids because the bidders do not have to take the time off to attend the auction and only have to show up if they win the auction. The facility gets 100% of the final bid and the buyer pays the facility directly for the unit and posts a further refundable deposit to insure that the unit is fully cleaned out. The winning bidder has one week to clear out the unit and you are ready to rent it again. It has been known to happen that the buyer needs to temporarily store the contents – so you rent them a unit.

    About The Author

    Gregory D’atri-Guiran is the President of Bobolink Media Productions Inc.]]>

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