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THINGS TO AVOID AT STORAGE AUCTIONS

November 01, 2017
 

Television shows like Storage Wars make bidding on storage units seem like an intense, exciting pastime. While this can be true, it`s important to keep in mind the people on those shows have a lot of experience when it comes to bidding on units.

 

Like any hobby, practice makes perfect. The longer you stick with auction-hunting, the better you`ll become. However, there are a few rookie mistakes you can avoid that will save you time, money, and aggravation.

1. Getting into a bidding war 

This is the biggest mistake people new to storage auctions will make. Shows like Storage Wars may make it seem like one-upping the other guy is the way to go, but more often than not it`s just not worth it. Not only will you end up spending a lot more money than you intended, but you`ll quickly get a bad reputation among other regular bidders. 

2. Showing up unprepared 

You should always do your research before heading off to a storage auction. Make sure you know when it starts, how long you have to empty any units you win, and what exactly you`re looking for. It`s also important to make sure to bring your own tools along just in case.

 

Whenever you show up to an auction, be sure to always have the following things with you:

 

  • Several locks with color-coded keys
  • Phillips-head and flathead screwdrivers
  • A sturdy hammer
  • A set of hex keys
  • A small, powerful flashlight 

3. Not knowing what to look for

Even if playing the part of a Storage Wars bidder is just a weekend hobby for you, you should still take time to do your research. Join a couple of auction forums and learn about which items are going to be the easiest and most profitable to resell. Knowing your market can save you from buying a load of junk that`s going to collect dust in your garage. Keep an updated list of popular or valuable items with you whenever you go to a storage auction so you can make smart bidding decisions.

4. Bringing along your family

As tempting as it may be to make this a family outing, storage auctions are not usually family-friendly situations. In general, these events tend to be hot, dusty, and boring for kids or spouses who don`t share your excitement. Bringing along kids or partners who`d rather not be there can quickly turn the day into a frustrating, unpleasant experience for you and the other bidders.

5. Bidding on every unit 

Your day isn`t a loss if you leave without winning a unit. However, you can lose out big time if you feel compelled to win a unit regardless of what`s inside. Be smart with your money and keep in mind it`s better to save your cash for a good unit than waste time and money on a locker with nothing of value.

 

Storage auction hunting is a fun, exciting hobby. Make sure to do your research, bid intelligently, and show up prepared to get the most out of your experience. If you`d like to try your hand at an online storage auction, check out the live auctions at iBidOnStorage.

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