Auctions: Storage Units and Rentals

The reality shows currently on TV make the pursuit of treasures through bidding at storage unit auctions feel exciting. The thrill of choosing which units to bid on and the exhilaration of being the auction’s winner looks like quite an adventure. Sometimes, the storage areas contain valuable pieces that net winning bidders big profits. Other times, the winners have a lot of low-value items that have to be sold second-hand to recoup the money invested. Storage unit auctions aren’t a new phenomenon, however they have only recently gained widespread attention, thanks to the power of reality television. Whether you are interested for the adventure or the potential to make money, it is easy to get involved without putting up significant cash out-of-pocket.

How It Works

Storage units rent out their space for a month to month basis. When a renter fails to pay and falls behind on their monthly fees, the unit is then forclosed on by the business and then available to be auctioned off. When an auction takes place the manager opens the storage unit and allows potential buyers to get a look of what is inside and the money that can be made from owning what is inside.

This allows the potential buyers to take a look at what is inside, get an idea if this is something that they may or may not want to bid on. Baseline usually starts at about 10 dollars and can go up from there, how high depends on the unit and the interest involved. Storage unit auctions can go slow or fast paced depending on the number of units being auctioned that day, and the demand of a unit. Bidding wars could ensue if there is a profit forseen by bidders.

Why Are There Auctions (Storage Units and Rental)?

Before joining the storage unit auction excitement, many wonder how and why the units and rentals are available in the first place. Basically, individuals rent the space to keep items they can’t otherwise store for a variety of reasons. As with any rental, the monthly payment is expected on time each month. When the renters stop making payments, sometimes due to financial troubles, a medical situation, or something else, the companies that own the spaces have to dispose of the personal property inside, much like a foreclosure.

The company advertises the upcoming auctions in local papers, giving the owners of the items fair notice and a chance to work out the outstanding balance. Those interested in bidding on the contents of the storage units also see the notices and determine which they would like to participate in. Now, it can happen that at the very last minute, the unit’s renter will contact the storage company to pay their bill in full. That means that some attendees might be disappointed, as the company cannot proceed with an auction under these circumstances.

What Can I Expect at a Storage Unit Auction?

If you have been to an estate auction, you might be expecting a traditional auction experience at the storage units as well. However, these auctions are held much more informally, with participants submitting there bids verbally. The highest bid wins the storage unit’s contents, and payment is expected immediately.

The gamble in a storage auction is that you don’t know what you are going to get if you win. Each rental space is typically 5’ by 5’ or larger, and you only get a moment to see â€" but not touch or move â€" the contents. That means behind whatever is immediately visible, you could find something valuable, but it could be just a collection of junk. Use your brief window of opportunity to scan for items that can be sold easily, like appliances or books, and don’t bid too high unless you are confident that there are truly valuable items inside.

Once you win the contents of a storage unit, you typically have just two days to remove all of the items. Some individuls find it easiest to bring a large vehicle with them to the auction, so they can collect everything before they leave.

Auctions, storage units and similar, are an interesting and affordable way to spend an afternoon. Who knows â€" you might be lucky enough to win something special!

Source: http://goarticles.com/article/Auctions-Storage-Units-and-Rentals/6351971/

Understanding The Penny Auction

Penny Auctions, or pay-to-bid auctions, are becoming wildly popular as consumers continue to recognize the opportunity and possibility of amazing deals and incredible savings. Hundreds of penny auction sites already exist. Some of the more established sites include Swoopo, Quibids, BidCactus, BidRivals, Beezid, and more. New auction sites keep popping up all the time as the business model tends to favor the business owner, and of course one lucky winner of each auction.

A penny auction is not the same as or in any way similar to an ebay auction. In an ebay auction you can bid as many times as you want and will never be charged a dime unless you are the high bidder and win the auction. This is not true for a penny auction. In this type of auction you pay before you can even participate. You have to pay for the opportunity to bid on the item.

Penny auctions are just what they sound like: An auction where you can only bid one penny at a time. The price of the item starts at $0.00 and each bid increases the price of the item by one cent. Each bid also extends the time of the auction, typically by 10, 15, or 20 seconds. In this type of auction it isn't the highest bidder, but rather the last bidder who wins the item. Usually the winning bidder snags a pretty good deal, enjoying savings of between 75%-95%.

How can these sites afford to give away pricey electronics and other great items at such huge discounts? Well there is a small catch to consider. As you may recall, the first sentence of this article also refers to these auctions as pay-to-bid. Thats right. You have to purchase the bids before you can use them towards a given item. Typically bids will cost between $0.50 to $1.00 per bid depending on the site.

Lets look at an example of a $10 gift card that sells for a final price of $1. That means that 100 bids were placed during this auction. If each bid was purchased for $0.50, the website made $50 off bids alone which will easily cover the cost of the $10 gift card. This is precisely how these auction sites can afford to stay in business.

Now just because the auction site stands to make a decent amount of money doesn't necessarily mean it is bad for the consumer. Certainly the winner of the auction made out like a bandit getting a $10 gift card for only $1 (plus the cost of any bids used). This is a significant savings for the winner.

Beware though, all of the other bidders just lost some money. If another bidder placed 10 bids in that same auction but did not win, they would have spent $5 and receive nothing in return. This is why penny auction sites can be quite risky.

Some penny auction sites try to limit this risk by offering a "Buy it now" option to those bidder that did not win the auction. By employing the "Buy it now" option a losing bidder can apply the cost of the used bids towards to full purchase price of the item. That means the losing bidder in the example above could apply the $5 worth of used bids towards the full price ($10) of the gift card and purchase the gift card for only $5 additional dollars. This way the losing bidders never actually lose as long as they were willing to purchase the item at full retail price from the getgo.

Penny auction sites can be a great place to pick up some amazing deals on some of the most popular consumer items. However it is important to remember the financial risks involved in this type of auction and to fully research and prepare before you embark on your endeavor to achieve ultimate savings. By full researching a penny auction site before you decide to start bidding you will be able to determine the likelihood of your success as well as sort out which sites are reputable and which sites may be scams.

Source: http://goarticles.com/article/Understanding-The-Penny-Auction/4207480/

7 Tips On How To Select A Good Fundraising Auctioneer

Although it may sound cliche, it's true. A good Fundraising Auctioneer does not cost you money. A good Fund Raising Auctioneer will make you money. As a matter of fact, a good Auctioneer can be worth his/her weight in gold because they can raise your entire year's budget and more...in one single night.

When your group or organization is searching for a Fund Raising Auctioneer, here are seven important tips to help you select the best Auctioneer for you.

1) Auction Industry Experience: Auctioneers are not all the same. Just as Doctors and Lawyers have different levels of experience and different areas of specialty, so do Auctioneers. Some Auctioneers have considerable experience while others are fresh out of Auction School. Most Auctioneers are generalists; others are specialists. Some have excellent reputations, others do not. Some specialize in Fund Raising Auctions, others could care less about them. And if you select the wrong Auctioneer to handle your event, your decision could cost you dearly. Your objective should be to locate an Auctioneer with considerable experience, an impeccable reputation, and someone who understands the intricacies of running a highly successful Auction, from start to finish,

2) Fund Raising Auction Experience: Not all Auctioneers make good Fundraising Auctioneers. Automobile Auctioneers are often considered to be the best in the business because they talk fast, and sell fast, selling perhaps 150 cars per hour. That rapid fire approach works well with cars, and on television (can we say "Barrett-Jackson Auctions"). It does not necessarily work well with Fund Raising Auctions because most attendees at your event are not Auction-oriented. Some are uncomfortable with the Auction process because it's new to them. Many have never attended an Auction before, and your Auctioneer needs to move somewhat slower to cater to their needs. An experienced Fundraising Auctioneer will understanding how to deal with your audience, how to read your crowd, and how to generate more money for your cause.

3) Reputation and Name Recognition: Your objective is to hire the best Fundraising Auctioneer available. Which one do you hire? Often the best approach is to find out who the other non-profit groups in your area are using. If the same name keeps popping up, it's appearing for a reason. And that reason is because those groups are happy with that Auctioneer's performance and the amount of money that Auctioneer is raising for their group. Some Auctioneers have wonderful reputations and are highly regarded in the community; others are not so highly respected. Be sure you find one who will represent you well.

4) Pre-Event Ideas and Innovation: An experienced Fund Raising Auctioneer will usually have a better understanding of how to run these events than your entire committee combined. Most non-profit Fund Raising Committees have one or two paid staff members and the rest are volunteers, often having little or no Auction experience. Committee turnover usually means that experienced volunteers will be replaced with inexperienced volunteers, which further compounds the problem. A good Fund Raising Auctioneer will get you through this. They will meet with your committee prior to the event. They will help you understand what sells best, what doesn't sell well, how and where to acquire sellable merchandise, and how to run a smooth and successful event. We are aware of instances where the auction revenue more than doubled in just one year as a result of the recommendations made by the Auctioneer. This service alone is worth any fee that you pay to your Auctioneer.

5) Enthusiasm For Your Cause & Event: You can find the best Auctioneer in the world, but if they are not enthusiastic about your event, find another Auctioneer. Enthusiasm is contagious and your crowd will clearly sense if your Auctioneer believes in what you are doing, or is simply going through the motions and doesn't really want to be there. Your Auctioneer represents your organization at the podium, so be certain to hire someone who projects the best possible image for your group.

6) Salesmanship. The Ability to Work a Room: This is what separates the professional Auctioneer from the inexperienced volunteer. All too many groups have the mistaken belief that if they secure the services of an unpaid volunteer to call the Auction, they will be saving themselves money. But the truth is that this decision costs them money. A "Volunteer Auctioneer" is usually someone known to the group, e.g. a board member, a parent, a local politician or a local celebrity. That individual may feel comfortable in front of a group, but they don't know how to squeeze money out of the room. A good Auctioneer can work the room, they can sense when the bidding is done, they will move the Auction along quickly, and will always solicit more bids from the room than any volunteer Auctioneer.

7) Special Pledge Appeals: A Special Pledge Appeal can often double or triple the amount of money raised at a Fund Raising Auction...in only a matter of minutes. But far too few groups take advantage of this Fund Raising tool. If you find an Auctioneer who satisfies Tips #1 - #6, and who is also effective at implementing a Special Pledge Appeal...look no further. That Auctioneer is an experienced Fund Raising Auctioneer, they understand the true power of Fund Raising Auctions, and will be able to raise considerable amounts of money for your group...year after year.

In summary, don't judge the Auctioneer by the fee that they charge. Rather, consider all of the pre-event support, innovative fund raising ideas, auction-day bid calling, the increased revenue stream they bring, and the overall success of your event. When all is considered, if you selected the right Auctioneer, at the end of the night your crowd will be saying "Thank You for letting us spend our money with you. We will be back next year...with our friends". That is the ultimate sign of a successful Fund Raising Auction.

Source: http://ezinearticles.com/?7-Tips-On-How-To-Select-A-Good-Fundraising-Auctioneer&id=5140044

Differences Between Online Auctions and In-Person Auctions

If you are new to auctions you may well be wondering what the differences between online auctions and in-person auctions are. Of course the most obvious difference is one is on the internet and one is live near you. There are a number of other factors that make them different as well.  First, for an in-person auction, you must find a location near you that hosts such an event. In-person auctions can be hard to find and oftentimes, you must be willing to drive some distance to attend. Online auctions are at your finger tips on the nearest computer or even your personal mobile device. Yes, many auctions can even be seen on your mobile phone wherever you are, making them very convenient. In-person auctions are also only open at set times, whereas online auctions are often going 24 hours a day.

Another major difference is the amount of available items at the auctions. Pickings may be slim if you are after the newest Samsung product or Android phone at an in-person auction. For most in-person auctions, however, you can arrive early and look over the lots that are to be auctioned off that day. This allows you to really see what you will be bidding on, and to give it a thorough inspection. Online auctions are usually endless when it comes to the amount of items you can find, you will often find multiples of items so you can compare and find the one you want to bid on. Online, you cannot physically inspect the item, but you are often provided with multiple photographs of all angles of the item. Most sellers will also often allow returns if an item is not as described in the listing.

The return policy can be another big difference between online and in-person auctions. Most in person auctions are "as is", meaning if you bid and win, there are no returns. Online auctions vary with this rule, sometimes based on seller and sometimes based on which online auctions sites you are using. Returns up to 30 days after the item is received is a common practice.

At live auctions you will also have an auctioneer who will ask for bids, see a person signal and will continue until there are no further interested parties. This is typically a very fast process. Online there is usually no auctioneer, just a timer that slowly counts down. At penny auctions, for instance, as the timer gets close to the end people will place a bid at the last second, and often this will extend the time for another minute or less allowing others to place a final bid.

These are some of the big difference between the two options. The best way to see which is right for you is to try them out for yourself.

Source: http://www.artipot.com/articles/1444479/differences-between-online-auctions-and-in-person-auctions.htm