While most industries struggled in the past months under a recessionary period, the storage auction business has emerged from the shadows to become the unlikely boom industry in the American economy. This sunrise industry is growing fast and is expected to become an important money-making activity in the future.

The storage auction field has broad appeal because it requires little seed money but yields an astounding amount of profit. Everyone can also make good at it whether you are a newcomer or an old-timer, a moneyed or penniless would-be investor.

You’re looking for a profit-making venture where the playing field is level? This is storage auction, which is worthwhile to go into even under a harsh economic climate.

What puts players on an even keel during an auction is the fact that nobody knows what’s in the unit being auctioned off until it has been bought and opened. A typical unit may be up for sale for a minimum of $10 up to a maximum of $600. But the bidding price is of course higher if the auction involves home lots, cars or antique jewelry. The auction is usually held because the owners have outgrown their use of these items, or they are getting rid of these items in favor of new ones.

Whatever the nature of the auction and its costs, it is always guaranteed that you can get your money back and even obtain five times more than what you paid for the auctioned unit if you know where and how to dispatch the items. There was a new player who paid $20 for a unit whose contents were later sold individually and gave a total of $5,500 earnings. The unit contained vintage clocks, cameras and rare vases.

There are storage auctions where the items being sold are announced beforehand and there are self-storage auctions where you have no idea of the items being auctioned off. It is the latter type of auction which promises the biggest reward for the least investment. It’s the element of surprise that enables players to get goods worth thousands of dollars at an auction cost of much less. In many auctions, the most valuable items such as antiques and vintage decor are in the box and cannot be seen from the outside.

The secret to making good in storage auction is to know the techniques of making quick calculations on which units will give the highest profit potential based on what your eyes can see. You can’t decide according to size because in many cases, it’s the smallest units that provide the most profit. As the saying goes, good things come in small packages.

The most profitable goods that come from storage auctions are those that require small boxes such as silverware and signature clothing.

At present, there are more than 60,000 storage facilities worldwide, of which some 95 percent are in the U.S. The rest are in Canada and Australia, with hundreds of chain storage and independent groups being opened every year. This means more and more storage units are going for auction.

Storage unit auctions are the effective way to purchase a number of items at a low price. These auctions are organized by facilities for abandoned storage units. The company that manages the unit facility holds the auction every time a storage unit tenant does not pay off their rent for a long period of time. The auction is held with the goal of regaining the funds they would have had from renting the property to the renter.

Storage unit auctions never just come about every time the facility deems it necessary. There is a process that must definitely be paid attention to. Firstly, the renter should be gotten in contact with. Numerous letters are sent out to the tenant forewarning them of the outcomes of leaving behind abandoned units. When the tenant fails to answer in a certain amount of time, the company places ads in the classifieds section indicating the impending auctions. The ads ought to run for a time designated by the government of the state or the country. The tenant presents an opportunity to stop the auction by paying the rent arrears.

With the economy the way it is, storage unit auctions are more common than ever. This is unfortunate for those who lose their belongings, but it is great for people looking to make extra money. For some people, it is a lifestyle. For others, it is a hobby. However, the most important thing to remember is that staying consistent and on top of all the auctions is the only way that the practice ever produces a significant return for the investment.

Many people use storage facilities while moving or for extra space, but if they fail to pay the storage facility, their property is put up for auction to the public. There are many different sources to find auctions, and a simple search on Google often yields many useful leads. There are also a handful of national resources.

You can find different types of auctions. You have sealed bid auctions in which the deserted storage units are opened and the bidders are allowed to move around and take a look at what is inside the unit. The bids are written on a small piece of paper along with the name and contact information of the bidder. The highest bid is awarded the items in the storage unit. This individual is then required to pay the storage auction money within 48 hours and remove all the items within that time period.

A live auction is a lot like a public auction. Once again, it is opened up for the bidders to have a look at the contents. Live bidding then begins and the individual with the highest bid is awarded ownership of the contents. Like the sealed bid auctions, the storage auction money needs to be paid within 48 hours.

The final type is the sealed auction. The storage unit is just not open for viewing and the contents are just reveled to the highest possible bidder upon payment of the storage auction finances.

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