Auctions Becoming Even Bigger Business for Self Storage Industry

Posted on Jun 26 2013 - 8:00pm by Winnie Hsiu

You know a business or industry is going strong when of course the return on investment is high, but there are other indicators as well—like when another business or industry springs up because of yours. Such has been the case with auctions within the self storage industry.

Auctions are a regrettable part of the self storage industry since it means that someone is unable to pay their bill and will lose the contents of their unit. In some cases that may mean nothing to people, but there are likely more where the soon to be previous owner is losing things they do want. However, business is business and when a tenant can’t pay their bill it has to happen.

Over the last few years these lien auctions have become a big enough business that they have spawned a handful of popular reality televisions shows along with a number of aggregator websites that help people locate auctions and helps newcomers navigate the ins and outs of bidding.

This being the age of the internet self storage lien auctions have even begun to take place on line on sites like StorageBattles.com.

While auctions do have their purpose there are some who are starting to see that their purpose could be greater. Why just allow self storage facilities to recoup unpaid rent? Why not give tenants that have things they no longer want a medium to sell their wares as well.

Enter VirtualStorageAuction.com.

The website is a relatively new one that gives people that have finally decided they are never going to use that comfy old recliner again or the fake moose head that was popular in college a chance to be able to sell them.  

It’s a pretty easy process. All you have to do is take a few pictures of what you want to sell, post them online with a description, set an opening bid, and let the bidding begin. If a bidder fails to follow through with the sale you go on to the next highest bid until the transaction is finished.

Sounds pretty good, right? It gets better. 

“Our site is totally free. We don’t charge any fees to the buyer or the seller. Whatever you make from the unit is yours to keep.”

It can be only a matter of time before this venture is copied, becomes commonplace, and even streams online!

Sources Used:

“New Website VirtualStorageAuction.com Helps Storage Renters Get Rid of Unwanted Belongings.” PRWeb; 26 June 2013.

About Storage Battles; Storage Battles.com.

Auctions Becoming Even Bigger Business for Self Storage Industry

About Winnie Hsiu

Winnie Hsiu is a recent college graduate who is passionate about traveling and enjoys the life of a vagabond. She enjoys blogging about her "cheap travels" and the memorabilia she has collected along the way. How and where she stores her things - as a nomad - makes for "fun fodder" on her blog.