Storageauctions.com, a new online platform for self-storage auction buyers and sellers, has officially opened for business. The site allows registered users to browse and bid on live auctions from a desktop computer or mobile device. To date, the company has conducted 200 auctions in Alabama, Georgia, Louisiana, Mississippi, Tennessee and Texas, according to a company press release. Events are also scheduled for Hawaii, Illinois, Missouri, Nevada, Oregon, Washington and Wyoming.
Storageauctions.com currently has 500 registered bidders nationwide. More than 100 self-storage facilities will be added as sellers in the next 30 days, and 200 more partnerships are underway, the release stated.
Auctions can take place on the website at any time. Storage operators are charged a 10 percent fee based on the final sale. Bidders also pay a 10 percent deposit, which is later deducted from the total amount payable to the seller, according to the website. The seller is charged $20 per unit if the auction is canceled, though Storageauctions.com offers membership plans to reduce this fee if an operator anticipates multiple cancellations.
The membership plan also includes other perks, such as a facility listing in the company’s directory and auction advertising on its social media channels. Post notifications about offline auctions are also hosted on the website. In addition, the company offers a rewards program.
"As an owner and talking to other owners and bidders, I feel confident that Storageauctions.com can benefit both buyers and sellers," said platform owner Lonnie Bickford. "This isn't like eBay. This is built for the storage owner and designed 100 percent to fill a unique market niche."
For more than 15 years, the Storageauctions.com team has developed, managed and owned storage facilities as well as managed onsite auctions, the website states.