How Do Storage Unit Auctions Work?

October 2016

How Do Storage Unit Auctions Work?Have you ever wondered what treasures you may find in someone’s storage unit that they left behind? You see those shows on TV that show people making thousands upon thousands of dollars, and think, if you just put forth a little money, that could be your return, right? Well, maybe, but you first need to understand how the entire process works.

Each Storage Company Has Slightly Different Rules

When it comes to bidding on abandoned storage units, each company is going to have their own set of rules. These rules will be explained prior to the start of the auction, so make sure you are there early enough to hear all of the rules. Most auctions require you to have the cash on you to pay for at least 10% of the unit’s cost, and they will give you a few hours to produce the rest of the money, but again, that may differ depending on which storage company you go with.

At the beginning of the auction process, the unit will be opened up and you will be given the opportunity to peer inside. Usually, you cannot step inside the unit, but if the unit’s contents are all in the back, a step or two is sometimes allowed just for you to get a view of what the unit contains. Each potential buyer is allowed to take note of what the unit contains, then a live bid will begin. People go back and forth with their bids until the highest possible bid on the unit is found. From there, the winner is written down, and the next unit is opened up. This continues until all of the units are auctioned off.

When the Auction is Over

Once all of the auctions have been completed, it is time for the winners to pay up. Once payment has been made, the unit can be entered and you can go through what you have won. You will often have a short time to empty the unit, which should be covered in the initial rules. This varies, but is often around 24 hours. You can keep what you want, and toss the rest. If you get lucky, you may have won something that earned you your investment back and maybe a bit more.

The Total Storage Way

We run our auctions a little differently than other storage facilities in Winnipeg. Instead of spending your time standing in the lot waiting for the right unit to come up, you can browse our available storage units for auction on our website http://totalstoragewinnipeg.ca/auction. Once you find a unit you’re interested in bidding on you can do so online! Once your signed in or created a free account you can set a minimum bid for the unit and be notified if you’re outbid.

After the auction is completed and the unit has been sold to the highest bidder you can come to our facility at 21 Blumberg Trail in Headingley to pay for and collect your items. It’s that simple!

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21 Blumberg Trail Headingley, MB
Mon-Fri 9AM-5PM Sat 10AM-2PM
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Monique Lariviere

5 out of 5 stars

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Friendly service, clean lockers, very secure. I would definitely use them again.

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Darrell Rodgers

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Always helpful staff, 24 hour access and lots of options for storage spaces.

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David Kovacs

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Twenty four hour access, decent rates, and close to the city