The Implications of Self Storage Auctions: Misleading Myths Debunked

When storage units are abandoned, the treasures within are put up for auction. This cliché narration happens to actually be what people think it is. Auctions nowadays are not that rare anymore since the rise of self storage facilities. You may have seen a group of people raising their bids in an auction held in self-storage facilities on a reality show. If you’re living in Australia, there have been many fans of these auctions that happen at self storage facilities in Perth WA or at any warehouse Perth storage areas today. And who can blame these fans? In Perth storage facilities, you can get random stuff for lease that you can use anywhere for anything. Given that they are stored safely at storage facilities Perth WA has, it means the things they sell are not damaged unlike at run-of-the-mill bargain centers. Have you ever wondered why Perth storage warehouse auctions happen in the first place? This article aims to tackle

The reason behind the auctions at self storage facilities:

It is mainly because of the storage units that are abandoned for a long time.

One of the serious problems in self storage facilities around the world is abandonment. The storage units that went to auction are mostly from delinquent tenants that were unable to pay off the outstanding bill even after they had been given a prior notice by the store facility earlier. To offset the possible losses or liability of the storage facility, it is crucial for a storage facility to have storage unit auction to settle the amount of rent and late fees owed.

Misleading information on self storage facilities auctions:

1. They could sell off the items easily based on the appraised value

Many thrift shoppers in auctions at self storage facilities Perth WA today would have thought that they could sell off the item based on the amount that they claimed the item was worth. To ensure gaining profit from reselling items from auctioned storage units, they have to find potential buyers to purchase items based on the appraised value. Definitely, the more buyers who are willing to pay for appraised amount of the item, the better.

2. You can get some good stuff to sell.

This will only work when you are able to find a suitable platform to sell your items that can drive more potential buyers to purchase items that are being resold based on the appraised value. What happens if the overall stuff in the warehouse Perth Metro Storage has for you are really a worthless piece of junk? So you know there’s always risk involved when it comes to looking for worthy things to resell.

3. The payment for all of the items sold from a non-paying unit belongs to the facility.

It is understandable that the storage facility will terminate the right of the tenant to use the storage unit due to non-paying issues. In reality, not all auctions exceed the amount owed. When this really happens, this will only reduce the liability of the facility in order to sustain their business.

4. You have enough time to inspect items from the unit when the auction is about to start.

Bidders are actually not allowed to enter the unit before or during the auction.

5. You can use several payment options including cash, credit card, and check.

Mostly auctions accept only cash as payment terms. To confirm the actual payment method used during the auction, you need to be aware of the terms of the auction before you start bidding.