TV shows like Storage Hunters and Storage Wars are popularising the idea that you can make big money from buying at this type of auction.
Storage auctions in the UK are starting to surface more every week. These auctions are the sale of the contents of storage units, containers or lockers. They are usally held online or at the storage facility site. There are around 1200 storage facilities across the United Kingdom all of which might hold storage auctions.
Storage auctions in the UK are a bit different so you’ll need to know a few facts before committing time and money.
In the UK these type of auctions offer buyers a chance to make money when payment is not made. Most storage facilities are only too pleased to open their doors to the public in the hope that the auction will generate more funds to offset the debt.
A storage auction in this country is normally carried out by the owner of the units. When a locker is ready for sale most storage firms have a list of potential buyers who are always on the lookout for a new container. The bids are conducted by email and phone and then the winner comes to site and has to clear the whole unit.
Sometimes there are some real finds in the unit but it is very much pot luck as you bid blind. Getting a storage locker for a percentage of its price has to be a great feeling and it makes a lot of business sense but it can go awfully wrong if the container has nothing of value.
Auction houses and Live Auctions
If you’re interested in becoming involved with this type of auction get in touch with your local storage facilities who will put you on their list and contact you when one becomes available. Some storage auctions in the UK also offer the contents of the locker to local auction houses. Buying at an auction house could mean a lower investment because they often split the lots up and you can see what you are bidding on. It is possible t furnish your entire house or stock up your Second-hand Shop. Maybe you just want to find those hidden treasures that someone may have stored in their storage unit.
What can be found in a Storage Auction
You will find all sorts of items at these auctions. From Household Furniture, Antiques and Collectables, Tools, and even Cars, boats. Most items you find in a storage locker do hold some value and can be reused or sold.