Tips for Placing Bids at Abandoned Self-Storage Unit Auctions

When you're attending an abandoned self-storage unit auction, knowing how much to bid on a particular unit can be a real guessing game! You usually have to size up the unit from a vantage point at the door. You may have to use a flashlight to look under furniture and into the back corners of the unit. There may be tall furniture or stacks of boxes in the doorway that obscure your clear view of the rest of the contents.

When you can see clearly what the self-storage unit contains, you can bid more confidently, and perhaps higher, than one in which it becomes a true guessing game.You need to quickly evaluate the contents before the bidding starts, and estimate how much the visible contents may be worth.

The average winning bid for a self-storage unit is generally between $100 and $250. Some may go for much less, maybe only a few dollars, and some may go much higher. As with any other live auction, the winning bids are influenced by how many people are bidding and how much each bidder desires that particular storage unit. It's a good idea to have a figure in mind when you start bidding so you don't get carried away in the excitement and blow your potential profits.

When buying a storage unit for profit, consider how much the items you can see may sell for, and bid up to approximately half that amount. Remember, there may be a lot of items you can't see, and there could be some real treasures hidden in those boxes and bags. Even a small unit with only a few containers can contain some valuable items.

Taking notice of the condition that the visible items are in and how carefully the contents have been stored is important when you are deciding how much to bid. Consider these points when deciding how much you're willing to pay for each unit you bid on:

Clean, Neatly Stacked Boxes. Renters who took time to pack their belongings carefully most likely took good care of them when they used them. If the boxes don't show signs of being opened (for instance, taped shut with the tape still intact) that's a good sign that the boxes haven't already been rummaged through by the renter or the facility /manager before the auction.

Professional Moving Company Boxes. When the boxes look new (like they were originally packed by the moving company and not reused) there's a good chance they will contain high-quality items, since the renters were willing to go to the expense of hiring a professional moving company.

Trash bags. Proceed with caution if you see piles of trash bags stacked inside the unit. You know what's usually in trash bags, don't you? It happens, ori It could just be that the renters didn't have enough boxes, or didn't want to search for boxes, but who knows? Trash bags usually contain linens, clothing, stuffed toys, or other fabric goods. They may be modern and of good quality, fashionably vintage, or ready for the rag pickers.

Mouse-resistant storage bins. Plastic tubs can contain almost any type of item, but often hold bedding, clothes, toys, or seasonal decorations. There's little risk of rodent damage to belongings that were stored in plastic bins. The bins themselves will come in handy later when you are sorting and organizing your treasures.

Furniture. Does it appear to be a household's worth of furniture, or just odd pieces? If it looks like a household's worth there may be an entire household worth of linens, kitchenware, and other necessities. Odd bits of old furniture often aren't in good shape, but if you are handy at furniture refinishing this is an excellent way to get vintage or antique pieces to fix up and sell. Dressers are the easiest type of furniture to sell; it seems like everybody needs one.

Appliances. Refrigerators and freezers that are not stored properly may be badly mildewed inside. Take a pass if there are only a few large appliances in the unit. Chances are the renter took the good stuff out and left his junky, useless appliances behind. However, if you are capable of repairing appliances there may be some value in these units which often go for next to nothing. Unusable appliances have scrap metal value, too.

Dust. Boxes that have a lot of dust settled on them may contain unique, and potentially valuable, vintage and collectible items that have been stored for many years.

Bikes, BBQ Grills, Lawn Mowers and Other Seasonal Items. These are generally in decent, usable condition, just being stored to keep them out of the way during the seasons they aren't being used. You'll find a lot of holiday decorations this way, too.

Strollers, Walkers, Infant Car Seats, Yard Toys. Units with these types of items are likely to also contain infants' and children's toys, books, games, clothing, bedding, and other kid accessories. These are usually in good condition, but older models may not meet modern safety standards. Keep in mind that it is illegal to sell secondhand products that have been subject to safety recalls.

Signs of rodent infestation. Mice or rats can invade self-storage units, and if the renter has been careless enough to store food products in cardboard or paper packages without putting them in heavy plastic storage containers you can count on rodent damage to some of the contents. Besides getting into the food products, mice will make nests in boxes or plastic bags that contain clothing, stuffed toys, towels and bed linens. Look for signs of infestation, such as droppings, mouse traps with mice in them, containers of rat poison that have been disturbed, or boxes and bags with holes chewed in them. These units may still be worth bidding on if you can get past the yuck factor, but consider that will surely have to throw some items away. Keep your bid low if you want to take a chance on an apparently infested storage unit, unless you can see items that obviously will make it worth your while.

More info on how to buy abandoned self-storage units at public auctions:

Buying Abandoned Self-Storage Units: "One Man's Trash Is Another Mans' Treasure"

How To Locate Abandoned Self-Storage Unit Auctions

More Tips For Buying Abandoned Self-Storage Units At Public Auctions