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The manager needs to be in charge of the auction, not working on something else, said Paul Maglio, president and owner of Storage Auction Solutions in Middleton, MA. A professional auctioneer can bring in $1,000, compared with the $50 a self-storage operator doing his own auction might make, Maglio said.
Beware of getting too close to buyers who buddy up to you to unearth details about what’s inside the units.
Maglio recommends placing security tabs on units with locks that were cut before the auction. Several dealers can agree among themselves to not bid against one of the dealers, who then buys the unit for next to nothing. As long as you advertise it well and run things correctly, you should be able to do the auction on your own. Welcome.The Storage Facilitator is the modern self-storage professional's destination for useful education, intriguing news, diverse expert perspectives, technology updates, and beyond. Get our free white paperThe Four Pillars of Profitable Self-Storage Management is an in-depth resource that empowers facility owners and managers to get more out of your business and stay ahead.
The information contained herein has been obtained from third parties and we cannot guarantee the accuracy or completeness of the information. While the public may be enjoying Storage Wars, response to the show from storage facility operators has been mixed to negative. Anyone involved in the storage industry has probably encountered this when they mention their line of work.
Rather than responding to these questions with a diatribe about the annoyances of the show to the storage industry, however, Robert turns the conversation around to positively promote his own storage facility. “It allows me to say yes, but also to tell them that we allow a lot of small businesses a way to store their stuff and offer a variety of other services,” he said. Most people perceive self-storage facilities based off what they see on Storage Wars, but auctions are a small part of the storage industry. The next time someone mentions Storage Wars, take that as an opportunity to talk about what else your storage facility does. Strangely enough, Storage Wars can also aid in the problem of unreachable delinquent tenants. If you’re worried about delinquent tenants, bringing Storage Wars into the conversation may help make the consequences of unpaid rent more urgent and real.
It’s also valuable to familiarize yourself with websites like Pinterest and Tumblr, where a huge percentage of users are interested in neat collectibles, various knick-knacks, and quirky DIY projects. Again, if you feel you will not be overwhelmed by bigger crowds, harness the excitement and interest generated by shows like Storage Wars and Auction Hunters. Self Storage Auctions has became so popular in United States that won't be a surprise if they went overseas.
Self Storage Auctions are auctions offered by self storage companies over the items of a tenant who fails to pay them montlhy rent. If the customer fails to pay the rent, a lien is placed on the customer's goods and they are sold at auction. A self storage auction is a great opportunity to get some valuable items at dirt cheap prices.
Auction Hunters is an American documentary reality television series that premiered on November 9, 2010 on Spike.
Over the past couple of weeks, we’ve blogged about the procedures leading up to a storage auction. Many storage owners now require a “cleaning deposit” upon registration, returnable on the condition that the highest bidder completely clears out the unit by a certain date and time (and returnable to the rest of the bidders at the end of the auction). You may ask yourself why someone would allow their property to be sold off at a storage auction after they have gone to the trouble and expense of packing, moving and storing their goods?
First let's briefly examine the typical storage tenant, and what you may find locked away in those cement and steel closets. Analysis of the storage industry tells us that the vast majority of units across the nation are in the hands of individuals. Find self storage units in your area by simply entering a city name or postal code in the form below. Auctions take time you’d rather spend renting units and, when it’s over, you’ll probably get yelled at by someone whose stuff got sold. You don’t want to tell customers to call back because you’re “busy doing an auction,” he said. DIY auctioneers also tend to make up rules as they go because they feel like they own the stuff in the unit.
This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management. Because the shows are staged to make the odds of striking gold look high, overeager first-timers end up crowding real-life auctions and may very well overwhelm small operators.
This week, we’ll be looking at how Storage Wars can help promote your auctions and facilities, so you can use storage auction shows for good. Channel the interest and enthusiasm for Storage Wars as a segue to educate and endorse your services. Since the show aired, Robert told me response levels have greatly improved for his facilities. Also consider using social media and web marketing to reach out to people who may not regularly attend your auctions. Create a Pinterest board with cool items found at previous auctions, or simply use it to collect images of antique finds that get local viewers excited and inspired enough to check your auction out in the future. The customer is still responsible for any rent and fees due if the auction does not clear their balance. The show follows Allen Haff, a second generation antiques dealer, and Clinton Jones, a historical weapons and old currency expert, as they participate in storage unit auctions throughout Southern California.
Click on the current or upcoming month to see the latest auctions scheduled and listed by this site. Now, we’ll take a look at some best practices to follow when the big day finally rolls around. We mentioned last week that law requires the facility attempts contacting the tenant through all possible means.
Post them on your front door and around your desk, and print copies to hand out to each visitor as they sign in.
If your storage units are indoors, use a room with plenty of space to form an orderly line. Auction hunters are usually keen to get everything out and appraised as soon as possible, but a deposit ensures that your unit will be open for new tenants soon after the auction ends.
You’re not a professional auctioneer, and nobody expects you to motormouth through every sale.
Cookies, lemonade, chips and your renowned 7-layer bean dip— make this an opportunity for you to shine. While there is no legislation explicitly preventing this, employee participation can open opportunities for conflict that are best avoided altogether. Her favorite movie is The Big Lebowski, favorite color is black, favorite food is cheese, and favorite band is the Pixies.
Give a half-month’s free rent to winning buyers who can’t clear out their unit in the required time.
Also, if tenants show up to pay at the last minute, they know that no one has rifled through their things. Tenants who didn’t respond to late-payment notices eventually will show up angry and frustrated.
Attendees hoping to score big end up driving bids to unreasonable levels and forcing regular auction attendees away. There’s no doubt that the incredible presence of storage auctions in pop culture has increased the public’s awareness of storage facilities in general. The pair leads viewers through the process of bidding on and winning abandoned storage units, appraising the items found within, and selling the most lucrative and interesting pieces to experts or collectors. Whatever the circumstances surrounding lien sales, they’re the perfect opportunity to show off your hospitality and make connections with some potential future tenants. More eyes and hands means a faster and more secure auction.* Professional auctioneers are required to host in some states, and we suggest hiring one regardless. A mandatory deposit is also a subtle way to weed out less serious bidders and manage crowd size. They do expect a fair, straightforward auction, and most will be patient enough to hear you out. Bidders and dealers have to store their stuff, too, and 90 percent of them rent storage units, Maglio said.
All of a sudden, your previously calm self-storage facility has become the new hotspot for curious and fervent fanboys aspiring to be as casually successful as Barry Weiss. If the tenant shows up the morning of the auction ready to pay the remaining balance, you’ll have to let auction-goers know that unit will no longer be up for bid.
Auctioneers have a thorough familiarity with lien laws and know how to work a hungry crowd of bidders.
This allows you and your staff to keep tabs on everyone there, and if any issues arise, you’ll be able to remember who was involved and whether they’ll be allowed into the next auction.
We recommend taking all attendees’ email addresses and phone numbers on a sign-in sheet, so you can market to them as fresh leads later. If anyone tries to rush or disrupt the proceedings, it’s within your rights to politely dismiss them from the auction. Send your bidders home with an impression of professionalism and efficiency, and watch as your units fill up.
We’ve mentioned this a few times, but the fact is that storage auctions are one of the major sources of legal headaches in our industry. Make it sound interesting, fun, and exciting— capitalize on the idea of hidden treasures, interesting antiques and unique knick-knacks. Oftentimes they will be followed by a crowd of loyal auction hunters, which means even more exposure for your self-storage business.
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