It’s that time of the year again for Garden of the God’s Self Storage to host its annual storage unit auction on September 14, 2023 at 1:30 pm at 4905 N 30th Street, Colorado Springs CO, 80919.
How the Storage Auction Works
What is the procedure for storage auctions? Self-storage facilities may hold an auction to clear away goods when a storage unit has been abandoned or has been encumbered. The units are auctioned off to the highest bidder with the help of an auctioneer. While you may see regulars who know what they’re looking for at storage auctions, you’ll also see a lot of first timers who are just interested. Take some time to learn how storage auctions work and what to expect when you attend a self-storage auction, regardless of which category you fall into.
Register for the Storage Auction
Garden of the Gods Self Storage will require you to register to participate in the day’s event before you arrive at the storage auction. Registration begins in person before the sale starts on the day of the auction. Registration is at the front office at 4905 N 30th Street, Colorado Springs CO, 80919.
If you have specific questions about how to register for the auction, please don’t hesitate to contact the storage facility at (719) 265-5900.
Storage Auction Rules
Storage facility auctions usually have a set of restrictions that aren’t well-known. There are a few guidelines you should be aware of before participating in the storage auction. These rules are universal and will most likely apply to every self-storage facility you visit. Bidders bid on the contents of the entire storage unit, not on an item-by-item basis.
Here are the rules:
- The auction of each unit is open, so there are no sealed bids.
- The unit is sold to the highest bidder.
- The winning bid must be paid in cash upon winning.
- A deposit may be requested by the site at their discretion until the unit is cleaned out. Deposits are returned immediately upon clearing the unit.
- The winning buyer is typically given 24 to 48 hours to clean out the unit or rent it under their name.
- Vehicles, watercraft, trailers and other items that require title or registration, will be towed away by Klaus Towing on the day of the auction.
- The buyer must return personal items, such as photos, legal documents, tax records, and identification to the facility so that they can be returned to the previous tenant or properly disposed of.
- Any firearms in the storage unit must be turned over to local law enforcement.
Winning Bids Vary
If there’s one thing we can learn from television, it’s that winning bids on self-storage spaces can range from under $100 to nearly $1,000. The reason for this has less to do with individuals driving up bid prices and more to do with what’s visible inside the unit but be aware that amid a throng of new storage auction goers, it’s easy for prices to rise quickly when highly recognizable objects are in view. If someone can estimate what an item will sell for, they are more likely to want it, inadvertently driving up the price.
Won Units Are Paid for Immediately
After a winning bid has been placed on a storage unit, the top bidder must pay the balance immediately away. Paying down the remainder of the unit ensures that the self-storage facility is reimbursed for any costs incurred because of the unit being auctioned off. Additionally, if there are no other auctions going on surrounding the unit when it is paid for, you may be able to start getting goods out after it is paid for.
Interested in attending this year’s Storage Auction? Contact Garden of the Gods Self Storage for more info!