iBid4Storage.com, a Toronto-based online marketplace for self-storage auction sellers and bidders, has expanded its platform and services to the United States. The website enables self-storage operators to list an unlimited number of units up for auction each month and links directly to facility websites. Auction buyers with winning bids pay the storage locations directly, company officials said in a press release.
The first American self-storage operator to list its auction units on the website is AAA Sugar House Storage in Salt Lake City. The company, owned by Sugar House Archives & Shred LLC, has 15 units listed.
“One of our operators has sold 200 lockers to date and recovered more than $75,000 in losses in fewer than six months,” said Yehuda Leon Benghiat, president of iBid4Storage.
The service costs $50 per month per location. “We essentially become a technical and human resource within their organization, working for their organization, focused entirely on converting their delinquent space to rentable space as quickly and profitably as possible,” Benghiat added.
Storage operators listing units up for auction can include full descriptions of items as well as photographs and video. Registered bidders can search for lien sales in their area, review the unit contents and descriptions provided by the self-storage facility, and bid online. Winning bids must be paid in full at the storage facility and unit contents removed within 48 hours, according to the website.