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How long do you set your online auctions to run?

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  • How long do you set your online auctions to run?

    I just listed a few auctions and I just randomly chose to run them for a week. Now I'm thinking that may be too long, but I guess there's no downside to having them longer rather than shorter.

    Have you found that there's a sweet spot in terms of auction results and days the auction is live online? I'd like to get the units emptied out and back making money ASAP.

    There is no prescription that I can find in the CA lien law as to the duration of the online auction.
    In no way affiliated with Storman software.

  • #2
    The one thing I always try to do is have them end on a Friday morning, this gives normal folks who work time to empty units over the weekend without taking time off work.

    Other than that I always try to run my auctions for 7-9 days. I usually start them on a Thursday Morning and end them 8 days later of Friday. I like the fact they extend over a weekend too for the weekend warriors to see them online.

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    • #3
      I post my online auctions as soon as I do the lock cut and video on the 10th of the month, and then I email the info to the local newspaper and my auction ends 15 days after the first newspaper notice is published on a Wednesday.

      I had been bragging about no auctions in 3.5 years and zero receivables for the first 9 months of this year. I have a tenant with two units that I feel will pay up soon but the other tenant is a boyfriend that has been paying the rent on a 5x10 that has his items in it but the unit was under his FORMER girlfriends name and she was a self storage manager in another part of town when she rented the unit and then according to the boyfriend she broke up with him and quit her job at the facility. She refused to show up for 5 minutes here to do a name transfer as well. The next time I hear of a prospective tenant that is or was in this industry, I am gonna pass on a rental.
      "Never let the inmates run the asylum!"

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      • #4
        Mine run from the day I run the first newspaper ad until the end. That's about 2 weeks. But there isn't much activity until the last 2-3 days.
        MamaDuke

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        • #5
          Originally posted by RandyL View Post
          The one thing I always try to do is have them end on a Friday morning, this gives normal folks who work time to empty units over the weekend without taking time off work.
          That's a good idea, I'll do that next time. Thanks

          In no way affiliated with Storman software.

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          • #6
            Originally posted by RandyL View Post
            The one thing I always try to do is have them end on a Friday morning, this gives normal folks who work time to empty units over the weekend without taking time off work.

            Other than that I always try to run my auctions for 7-9 days. I usually start them on a Thursday Morning and end them 8 days later of Friday. I like the fact they extend over a weekend too for the weekend warriors to see them online.
            I did that at first. However, here that's when my buyers are selling at the swap meet. So we end mid-week here so they can clear out and take it to sell on the weekends. And yes, the swap meets are running again!
            MamaDuke

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            • #7
              Originally posted by MamaDuke View Post

              I did that at first. However, here that's when my buyers are selling at the swap meet. So we end mid-week here so they can clear out and take it to sell on the weekends. And yes, the swap meets are running again!
              I have some bidders like that too, but they will usually come pay shortly after the auctions end at 10am, and take a few items for that weekends sale, then they knock it out after that. I have a couple regulars that I have worked with for a long time that I give a couple extra days to at times.

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              • #8
                All our auctions (11 sites monthly) end on Thursdays, with a 48-hour window to clean out. We always go live on the Saturday morning prior to the sale week.
                Stoho

                "Be kind whenever possible; it is always possible."

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