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Dreaming about becoming a millionaire by buying Self Storage units on online storage auctions like iBidOnStorage.com.au, and then selling the contents? While we won’t tell you to “dream on”, we will tell you to get your feet back on the ground. There are some common myths about storage auctions that need to be debunked before you make your first buy…

Myth 1: you’re gonna be rich!

There once was a guy who bought a Self Storage unit at auction to find it filled with actual pirate’s booty: gold worth over $500 000. Another guy found a 1937 Bugatti 57S in his dead uncle’s Self Storage unit.

You are unlikely to be these guys. Ever. Buying and selling Self Storage units at auction is not a get-rich quick scheme: it takes time, homework and effort. That said, there’s always a tingle of anticipation at what might or might not be in your unit… You never know.

Myth 2: it’s a war!

Thinking it’s all trash talking and aggro strutting and annoying “Yuuuuuupppps!” filling the air? Think again. Self Storage auctions in Australia are conducted online on iBidOnStorage.com.au, and the people partaking are just ordinary people trying their luck.

Myth 3: you’re bidding blind!

Nope. While you probably won’t be allowed to step foot into a Self Storage unit that’s up for auction, you will be allowed a look inside before it goes to bidding. If you’re taking part in an online auction on iBidOnStorage.com.au, there will probably be pictures of the contents of the unit, including an inventory.

Myth 4: You must attend the auction!

Technological advancement, guys! While attending the auction in person is how they do it in the US of A, Self Storage facilities here allow you to bid online, or run auctions exclusively on iBidOnStorage.com.au. This takes bad weather out of play, and allows you to do some online research about items while bidding. Take a gander at our iBidOnStorage site to get a feel for online bidding.

Myth 5: Finders, keepers!

Yes, once you’ve made the highest bid and purchased the unit, technically, everything inside is now yours. However: it’s only fair (not to mention common courtesy) to return personal memorabilia such as photo albums, love letters and other items of a personal nature to the owners, via the facility manager. Find out before auction what the unspoken rules and expectations are.

In general, it can be a fun, profitable venture to take part in storage auctions. But remember: if you want to do it as a business, you need to do your homework first and prepare properly. Our website at iBidOnStorage can give you good advice on how to get started – simply visit www.ibidonstorage.com.au register and start bidding. It is as easy as that.

 Good news is that we are now featuring more and more storage auctions in Queensland, Tasmania, WA, NSW, Victoria, South Australia, Northern Territory and in Canberra, so get involved today!