Stop N Stor will be having a storage auction on June 29, 2013 at our Savannah and Port Wentworth locations. The auction starts at 10am at the Savannah facility at 5725 Ogeechee Road. Once bidding is completed at that location, the auction will proceed to the Port Wentworth facility at 315 Highway 30. There are 18 units in total that will be auctioned off that day. You can find more information about the auction in the Savannah Morning News.
The purpose of the storage auction is for self storage operators to recoup some, if not all, of the lost rent when a renter defaults on their payments. There is a multi-month process to contact the renter, but if contact cannot be made, then the storage unit will go up for auction.
The auction is a closed bidding process, which means that attendees can take a brief look at the contents of the storage unit before the bidding begins. Once the actual bidding starts, the door is closed on the storage unit until the winner of the auction is decided. There are a few “must-have” items when you attend a storage unit:
1. Cash-Stop N Stor will only accept cash payments at storage auctions.
2. Flashlight-This will be needed so you can get a better look at the contents of the storage unit.
3. Gloves-To protect your hands when you are sorting through the items in the storage unit that you just purchased.
4. A Lock-This is needed to put on the storage unit that was just purchased.
5. A way to remove the items that you just bought in the storage unit as well as a way to clean out the storage unit of the items that you don’t want to keep. Once you “win” the storage unit, you have 24-48 hours to remove the items from the storage unit.
Because of the continued popularity of “Storage Wars”, there still continues to be an increase in the attendance at storage unit auctions. People are coming to see if they can find any treasures or just get a good buy on items in a storage unit. If you are new to storage auctions, then you can read our recent blog post, for tips on how to look for possible treasures in a storage auction.