Two Self Storage Online Auction Companies Merge

Posted on Feb 10 2014 - 8:40pm by Kim Kilpatrick

The saying “the whole is greater than the sum of its parts” is often attributed to the Greek philosopher Aristotle. So, that saying has been around for a long time and is applicable to many situations. This is certainly true in the recent merger of and

Everybody in the self storage industry has heard of the TV show Storage Wars. is the concept of that TV show only the auctions take place online. It is one of North America’s fastest growing online self storage auction companies around. is a web portal where storage facility owners and managers can put their auctions online. This makes it much easier for them to holding auctions. Because of the TV show, many people have been caught up in the hopes of finding a ‘treasure’ that they can turn around and resell and make a huge profit. This means that in-person auctions are now inundated with lots of people – many times more than a facility can handle. This overcrowding causes headaches for the facility owners and headaches for their customers who have to battle the crowds to get to their rental units.

When people use it also means that the auctioneer and those “attending” the auction do not have to suffer in adverse weather conditions such as subarctic winter weather and dangerous wind chill factors in Minnesota or sweltering humidity in Georgia. Attendees can participate in the auction in the warmth (or air conditioned coolness) of their home. the site services auction hunters and auctioneers in addition to appraisers, ”pickers and yard sale buyers,” self storage customers, and facility owners throughout the US and Canada.

Self Storage Association members who have been in the industry over 30 years created They were the first company to offer online auctions for self storage facilitators.

The newly created company will be branded as and will be based in Scottsdale, Arizona. James Grant, who was the founder of, is the CEO of the new company.

Grant said that self storage operators only recoup 50% of the money that is owed when they have a real-tine auction. He said that online auctions average about 117% of the debt owed.

This new company has more than 3,000 self storage facilities signed up to hold their auctions online and a database of over 750,000 registered buyers nationwide. They currently average more than 3,000 online auctions a month and anticipate that during 2014 it will increase 100%.

Sources Used:

“Two Prominent Online Self-Storage Auction Companies Merge to Create the New ‘eBay” for Self-Storage Auctions.” Market Wired; 10 February 2014.