Storage unit auctions in Sydney involve a public auction where bidders buy valuables kept in storage units with the aim of using them or reselling them to make some profit. This type of auctions is a great way of buying secondhand items at a low price.
Andy Holloway suggests that if you are a business person who sells assorted items at garage sales, flea markets, or even on eBay, you can surely find storage auctions as an ideal source for your merchandise. For more information on the different types of storage facilities in Sydney, visit Andy’s site: hollowaystoragesydney.com.au.
If you desire to get into this way of making quick and easy money, visit a scheduled auction at least minutes before it starts. This will assist you in knowing any bidding rules set by the auctioneer.
A storage unit auctioneer will usually request participants to sign a sheet and go through the rules and agree to the set terms and conditions regarding the auction. You will also stand a chance of getting the best items first before it’s too late and all the good ones have been auctioned.
Storage auctioning rules vary depending with the auctioneers. However, most auctions are usually done verbally while others involve negotiated contracts. In self-storage unit auctions, the only acceptable method of payment is cash. Sales tax is charged when a buyer does not show proper identification and a valid reselling license.
Storage unit auctions are very different from other auctions. For instance, you usually bid for all the contents of a storage unit or lot. The units are viewed by participating bidders one after another. Viewing is mostly confined to the entrance or doorway of the container or storage unit.
Bidding starts once all the bidders have checked the units. Bidding, at times, may start as low as a dollar and the price can rise depending on the items being sold and the personal interest of the bidders to place higher bids.
The average price quoted for most storage units is around $300. If a bidder wins, he will remove all the items in the unit within the set time by the storage facility.
Items to Expect
You never know what you will find in a storage unit. Most of the items in storage units include furniture, clothing, electronics, personal records, and general household items.
A winning bidder may at times find valuable items such as collectibles, money, antiques, and jewelry. It’s not uncommon to find an entire business or household in a storage unit, meaning that you can easily end up with collections of someone’s life.
Remember you’re viewing the items from an open entrance of a self-storage unit, and the plastic containers or storage boxes may yield just anything. Some of the storage units are tightly packed such that you may not get the luxury of viewing the actual items.
How to Find the Auctions
There are various sources that can assist you in finding storage unit auctions. You can find legal notices in local newspapers and websites about scheduled self-storage unit auctions. You may also call storage companies and ask them about any scheduled storage unit auctions. Click here for more information.