storage unit auctions denver

Storage Unit Auctions in Denver: Unlocking Hidden Treasures

Storage unit auctions in Denver offer a unique opportunity to find potentially valuable items at bargain prices. These auctions occur when renters fail to pay their storage fees, and the contents of their units are sold to recoup the debt. It is a common practice, you can read more about the storage auction process on Wikipedia.

Why Denver Storage Units End Up at Auction

The primary reason storage units in Denver go to auction is non-payment. When a renter fails to make their monthly payments, the storage facility has the legal right to auction off the unit’s contents to recover the outstanding balance. Other contributing factors can include abandonment of the unit or violation of the storage agreement terms.

Finding Storage Unit Auctions in Denver

Locating storage unit auctions in Denver requires some research. Here are a few avenues to explore:

• Online Auction Platforms: Websites specializing in storage auctions, such as StorageAuctions.com or iBid4Storage.com, often list auctions happening in the Denver area.
• Local Newspapers and Classifieds: Some storage facilities still advertise auctions in local newspapers or online classifieds.
• Directly Contact Storage Facilities: Call or visit storage facilities in Denver and inquire about upcoming auctions. Building relationships with facility managers can provide you with advance notice.

What to Expect at a Denver Storage Unit Auction

Storage unit auctions typically follow a specific format:

1. Viewing: A brief viewing period is usually allowed before the auction starts. You can visually inspect the contents of the unit from the doorway but are generally not allowed to enter or touch anything.
2. Bidding: The auctioneer will start the bidding, and participants raise their bids. The highest bidder wins the unit.
3. Payment: The winning bidder must typically pay for the unit immediately in cash. Some facilities may accept credit cards.
4. Cleanup: The winning bidder is responsible for removing all the contents of the unit within a specified timeframe, often 24-48 hours. This can involve considerable labor and disposal costs.

Tips for Successful Bidding

Bidding at storage unit auctions can be competitive. Here are some tips for increasing your chances of success:

• Set a Budget: Determine how much you are willing to spend on a unit before the auction begins and stick to it.
• Inspect Carefully: Use the viewing period to thoroughly assess the contents of the unit. Look for potential valuable items or signs of damage.
• Don’t Get Emotional: Avoid getting caught up in bidding wars. Stick to your budget and be prepared to walk away.
• Consider Resale Value: Estimate the potential resale value of the items in the unit to determine a reasonable bid.

Frequently Asked Questions

Are storage unit auctions cash only?

Many storage unit auctions require cash payment, but some facilities may accept credit cards or other forms of payment. It’s essential to confirm the payment methods accepted before bidding.

What happens if I win a storage unit auction?

If you win a storage unit auction, you are responsible for paying for the unit immediately and removing all of its contents within the specified timeframe.

How do I find out about storage unit auctions near me?

You can find out about storage unit auctions near you by checking online auction platforms, local newspapers and classifieds, or contacting storage facilities directly.

What are the rules for viewing a storage unit before an auction?

The rules for viewing a storage unit before an auction typically involve a brief visual inspection from the doorway. You are generally not allowed to enter the unit or touch anything.

What happens to the items I don’t want from a storage unit auction?

You are responsible for disposing of any unwanted items from a storage unit auction. This may involve taking them to a landfill, donating them, or selling them.

Summary

Storage unit auctions in Denver can provide access to unique finds and potential bargains. By understanding the auction process, conducting thorough research, and bidding strategically, you can increase your chances of finding valuable items at a discounted price. Remember to factor in cleanup and disposal costs when determining your bid.