Myths About Storage Auctions
Thanks to the TV shows about Storage Unit Auctions, that entire process has gained a lot of fame in the last few years. But like TV does, it painted a picture that doesn’t always align with reality. The basics are still the same: there is still an auctioneer and bidders who bid on units, with the highest bidder winning the unit. However, there are a few myths about Lafayette storage auctions that you should know before you start your bidding.
MYTH: There is no time limit for emptying your unit.
TRUTH: The point of a Lafayette storage auction is to free up a storage unit so the facility wants you to empty it as soon as possible so they can start renting it out to someone else. Most times the storage facility will give you between 24 and 48 hours to clear out the unit.
TIP: Make a plan beforehand to move out your things. Have a way to move your new belongings and a place to store the items until you can resell them.
MYTH: Auctions are rigged.
TRUTH: For some reason, people think that storage facility managers go through the units before hand and pick out all the valuable items. This is not true. When the unit is set to be auctioned off, a lock is put on, and it does not come off until the auctioneer opens the unit in front of the bidders.
MYTH: You can use any method of payment for the unit.
TRUTH: In this day and age it seems weird to carry around cash instead of credit cards. So you better be aware that you can only pay for a storage unit with cold hard cash.
TIP: It is smart to get cash out before you go to the auction because you won’t have time to go to an ATM after you have won. It is also a good idea to only bring as much can as your budget allows you to spend.
MYTH: You will get rich off of every unit.
TRUTH: Storage auctions are basically just a gambling game. There is no sure way to tell what is in a unit in its entirety before you purchase it. There is a chance you might find something of great value, but there is also a chance that you will just find memories from some one else’s life.
TIP: Something that will help you to make money is to be aware of what types of items are doing well in the resell market.