The only reason anyone would be interested in selling other peoples’ personal belongings at auctions for storage units is to make money brilliant storage. While it might seem opportunistic that you are looking to make money off of other people’s financial struggles, each state has a lien law which allows them to auction the contents of storage unit whose lessees are months behind with their payments.
Lessors are also protected by the lien law. This includes the deadlines in which they can pay, the duration of their unpaid rent, the proper notice of auction, and a payment demand. Although lessors can try to buy back their prized possessions at auctions of storage units, this may not be a wise move. This is because the lien law gives them time to settle their arrears and claim their containers before the auction begins.
Does it make sense to participate in storage unit auctions? You have to look through all the listings and travel to the storage facility to get the items. Then you need to haul them all to the destination. Although you may not win every time in these storage unit auctions, you might end up with a unit that contains valuable items that you can sell. Some auction wins, however, could compensate for the money you spent to participate in the auction.
You must be extra careful about what you do prior to, during, or after the auction if you want to maximize your profits. Keep in mind that this is a commercial auction and that overhead costs aren’t supposed to be too high to maximize profits. Pay attention to the contents in the container unit you’re buying so you can bid appropriately and have enough margin for you to work with when you price the storage units you win at auction.