Interested in knowing what works best for others. We currently do sealed bids, but have had requests from bidders to switch to the "auction" style.

We do ours "auction" style -- lots of fun if you do it correctly.

Never done the sealed bids - would be interested in how that works.

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Wayne Docktor
Manager
All American Self Storage
Palmdale, CA.
webmast@all-americanselfstorage.com
www.all-americanselfstorage.com

ours is auction style too, I start the bidding at $10, somebody says they'll give me $10, nobody else bids, they get the unit for $10 and I'm out hundreds. A guy last month got $2000 worth of Lladro figurines in the original boxes, and that was 1/2 the value of retail.

Am I the only sucker that doesn't "inventory" their units just a little bit better?

We do ours "auction" style as well. By law, we cannot enter in to a storage unit that we processing. We inventory only what we can see. We do try to look around and take a mental note at that point of what is in the unit (mainly so we can publish it in the Public Notice's section of the newspaper). We have not done a sealed-bids auction. We usually have the same people come to each auction (most of the stuff shows up on ebay after it is removed from here) and they all are very well accustomed to the typical style. We start our bidding at $25 if we know there is not much in the unit. When we open it and the bidders can see it's nice furniture or such, we start the bidding at $100. I'm not even sure how a sealed-bid auction would work. Seems like more paperwork would be involved. And isn't there already enough with all the legalities??? I'd be interested in knowing how you conduct yours.

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Buzz and Jen

Southside Storage
Leesburg, Florida
info@southsidestoragemall.com

Aloha,

Of course self-storage lien laws vary from state to state; that said, our company conducts open auctions as opposed to a sealed-bid auction. We also will indicate at the time we do cut lock and inventory whether we feel the unit is poor - fair - or strong in it's potential offering. Our auction order will take these notes into account (set the stage; never sell the best, first!).

If you have a strong and gregarious personality leading the auction, I believe there is much to be said for the open auction format. The more bidders present, the more likelihood you can create a bidding 'frenzy' of sorts. The larger the crowd, the more they get caught up in the bidding process -- instead of keeping their eye on the prize (ie; their original percieved value of the unit at the auction onset).

As a result, we have worked hard to build a strong bidders list and personally call and invite each and every one in advance of our auctions. We have a small population base on island, so every attendee is important to our effort.

At the end of the day, my goal (as it is for us all) is to deliver the greatest offset to the balance owed on each unit sold, KWIM?

We take digital pictures and try to do inventory. Sometimes unit are pack so tight you cant not get past opening the door. We actually have not had very good luck with auctions run at our facility. We have an autioneer we use that has his owen warehouse he comes and picks through the units and takes what he knows he can sell and then takes a precentage and send us a check. It a nice set up and works for us.
I hate seeing the personal stuff left behind pictures ect. I find it sad.

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Mason Mini Storage
Mason Michigan