If you're new to the wild and woolly world of self-storage auctions, here's a few helpful hints on what you need to know to PROFITABLY attend and participate in one (or more) of our public sales, i.e., the ones conducted at ARIZONA STORAGE INNS on a monthly basis.
There's SEVEN tips in all. Here they are:
1. Bring CASH (This is Most Important!). Auctions are all cash, all of the time. And since you never know whether a storage unit is going to sell for $5 or $500 -- or MORE -- it's better to come PREPARED--especially if you're the one the auctioneer looks at once the bidding stops, and after a brief, calculated pause he announces in a loud, clear voice (while pointing at you), ... SOLD!
2. Bring (If You Have One) Your ARIZONA TRANSACTION PRIVILEGE TAX LICENSE (TPT). If you're the winning bidder AND you plan on RESELLING the contents of the unit you've just bought, this handy little document will EXEMPT you from paying Arizona sales tax. Just wave it in front of the manager's face when you're back in the office paying for your unit after the sale is over. Otherwise, without a TPT in hand or on file with that facility, you can plan on paying the ubiquitous sales tax on your auction purchase. (Here in Chandler it's7.8% 8.8%.)
NOTE: if you have an AZ TPT and you're NOT planning to resell the contents of the unit, then you'll pay sales tax on it just as you would when you're buying something retail as the end user (since that's essentially what you're doing). See our dear friends at the Arizona Department of Revenue for further details.
3. Bring a LIGHT. You know, even on a bright and sunny day, it's a good idea to bring a flashlight along to see inside the units. Why? Because the one you're bidding on might be located down a LONG, DARK hallway. Or else it might be in a SHADY part of the building it's in. Or else maybe it's NOT so bright and sunny out today. Or else there's just so much stuff inside the unit, it's hard to get a good look at it all. And since you're only allowed to gaze longingly through the open door prior to bidding on the unit, you'll want to be sure and give yourself every advantage to see what's in there. So, bringing a nice, bright flashlight will help. (Makes sense, no?)
4. Bring a LOCK. Once you realize that, hey, you just gave the winning bid for this locker of loot not five seconds ago, and now, via a swift, effectual (and usually peaceable) transfer of ownership of the personal property contained therein, by the power vested in that august personage, the auctioneer, it all BELONGS TO YOU now; and that means you'll need to SECURE the premises immediately against all enemies foreign and domestic until you return later to take delivery of your booty. Of course, the best, most cost-effective way to do this is to PUT A LOCK ON THE DOOR. (Keeps honest people HONEST, you know.)
5. Bring a FRIEND. Two reasons... First, special events like these are better enjoyed in the company of a (good) friend. They're more memorable. They're more FUN. And, let's face it, after the thrill of winning the bidding wars has waned, and the adrenaline rush of conquering your competitors has worn off some (and you've forked over the appropriate amount of CASH -- see #1 above -- to consummate the deal that officially makes this stuff YOURS), you know that sooner or later,you'll have to haul away all those heavy boxes, bags, books, beds, bins, and other bulky stuff that probably took TWO people to put in there in the first place. You'll be glad you chose to bring someone along to share in the workload -- someone who, like you, had too much time on their hands. But I digress. (Only a joke, people, calm down!)
6. Bring a TRUCK and/or TRAILER. Speaking of HAULING (see #5 above), in addition to having another able-bodied person to help you clear the stuff out, you'll need an appropriate VEHICLE to do that with, naturally. So rent/borrow/bring a moving truck/pickup/van/trailer/etc. and get that stuff outta there in a TIMELY (and orderly) fashion.
7. Return the "PERSONAL" ITEMS. Just before the sale begins, you'll hear the auctioneer give some instructions to the crowd -- basically the "rules of engagement" -- and among these is an admonition to RETURN ALL PERSONAL ITEMS from the unit(s) that you buy, to the manager of that facility. This includes things like LETTERS, PHOTOS, FAMILY MOMENTOS/KEEPSAKES, DIPLOMAS, CERTIFICATES, DEGREES, KIDS' HOMEWORK/ARTWORK, as well as TAX RECORDS, BUSINESS RECORDS, MEDICAL RECORDS, FINANCIAL RECORDS, and basically any other DOCUMENTS that ordinarily don't have any intrinsic monetary or resale value. Sometimes you can take care of this while you're emptying out the unit; other times you'll have to sort through it later after you've hauled everything away, in order to find these kinds of things and return them to the manager, ASAP. Be sure and ask the manager, or else the auctioneer (before he heads off to his next lucrative public sale!) if you have any questions about this important little STIPULATION.
Incidentally, this last point about returning "personal" items to the original tenant in default is more of a courtesy extended to that person who just lost their stuff via this public "lien sale" than it is a legal requirement. It also injects some SYMPATHY and COMPASSION into an otherwise gritty, materialistic and matter-of-fact world of self-storage auctions! So, there is no obligation on bidders to do this, but auction participants with a heart will honor this request. (And you know who you are!:-)
************************
Well, that's it. Not exactly an exhaustive list, by any means, but surely a "quick-start" guide to Storage Auctions for Fun and Profit. And if you didn't find this article helpful, please come and see me, since I am also in charge of our Auctions Complaint Department (which, coincidentally, is located right next to the office shredder.... Don't know why that is. All I know is, we here at ARIZONA STORAGE INNS - CHANDLER strive for total efficiency! :)
See you at our next auction. That's FRIDAY, MARCH 11th, 2011, at 10:30 A.M.!
Your Manager and Auction Host, Paul
There's SEVEN tips in all. Here they are:
1. Bring CASH (This is Most Important!). Auctions are all cash, all of the time. And since you never know whether a storage unit is going to sell for $5 or $500 -- or MORE -- it's better to come PREPARED--especially if you're the one the auctioneer looks at once the bidding stops, and after a brief, calculated pause he announces in a loud, clear voice (while pointing at you), ... SOLD!
2. Bring (If You Have One) Your ARIZONA TRANSACTION PRIVILEGE TAX LICENSE (TPT). If you're the winning bidder AND you plan on RESELLING the contents of the unit you've just bought, this handy little document will EXEMPT you from paying Arizona sales tax. Just wave it in front of the manager's face when you're back in the office paying for your unit after the sale is over. Otherwise, without a TPT in hand or on file with that facility, you can plan on paying the ubiquitous sales tax on your auction purchase. (Here in Chandler it's
NOTE: if you have an AZ TPT and you're NOT planning to resell the contents of the unit, then you'll pay sales tax on it just as you would when you're buying something retail as the end user (since that's essentially what you're doing). See our dear friends at the Arizona Department of Revenue for further details.
3. Bring a LIGHT. You know, even on a bright and sunny day, it's a good idea to bring a flashlight along to see inside the units. Why? Because the one you're bidding on might be located down a LONG, DARK hallway. Or else it might be in a SHADY part of the building it's in. Or else maybe it's NOT so bright and sunny out today. Or else there's just so much stuff inside the unit, it's hard to get a good look at it all. And since you're only allowed to gaze longingly through the open door prior to bidding on the unit, you'll want to be sure and give yourself every advantage to see what's in there. So, bringing a nice, bright flashlight will help. (Makes sense, no?)
4. Bring a LOCK. Once you realize that, hey, you just gave the winning bid for this locker of loot not five seconds ago, and now, via a swift, effectual (and usually peaceable) transfer of ownership of the personal property contained therein, by the power vested in that august personage, the auctioneer, it all BELONGS TO YOU now; and that means you'll need to SECURE the premises immediately against all enemies foreign and domestic until you return later to take delivery of your booty. Of course, the best, most cost-effective way to do this is to PUT A LOCK ON THE DOOR. (Keeps honest people HONEST, you know.)
5. Bring a FRIEND. Two reasons... First, special events like these are better enjoyed in the company of a (good) friend. They're more memorable. They're more FUN. And, let's face it, after the thrill of winning the bidding wars has waned, and the adrenaline rush of conquering your competitors has worn off some (and you've forked over the appropriate amount of CASH -- see #1 above -- to consummate the deal that officially makes this stuff YOURS), you know that sooner or later,you'll have to haul away all those heavy boxes, bags, books, beds, bins, and other bulky stuff that probably took TWO people to put in there in the first place. You'll be glad you chose to bring someone along to share in the workload -- someone who, like you, had too much time on their hands. But I digress. (Only a joke, people, calm down!)
6. Bring a TRUCK and/or TRAILER. Speaking of HAULING (see #5 above), in addition to having another able-bodied person to help you clear the stuff out, you'll need an appropriate VEHICLE to do that with, naturally. So rent/borrow/bring a moving truck/pickup/van/trailer/etc. and get that stuff outta there in a TIMELY (and orderly) fashion.
7. Return the "PERSONAL" ITEMS. Just before the sale begins, you'll hear the auctioneer give some instructions to the crowd -- basically the "rules of engagement" -- and among these is an admonition to RETURN ALL PERSONAL ITEMS from the unit(s) that you buy, to the manager of that facility. This includes things like LETTERS, PHOTOS, FAMILY MOMENTOS/KEEPSAKES, DIPLOMAS, CERTIFICATES, DEGREES, KIDS' HOMEWORK/ARTWORK, as well as TAX RECORDS, BUSINESS RECORDS, MEDICAL RECORDS, FINANCIAL RECORDS, and basically any other DOCUMENTS that ordinarily don't have any intrinsic monetary or resale value. Sometimes you can take care of this while you're emptying out the unit; other times you'll have to sort through it later after you've hauled everything away, in order to find these kinds of things and return them to the manager, ASAP. Be sure and ask the manager, or else the auctioneer (before he heads off to his next lucrative public sale!) if you have any questions about this important little STIPULATION.
Incidentally, this last point about returning "personal" items to the original tenant in default is more of a courtesy extended to that person who just lost their stuff via this public "lien sale" than it is a legal requirement. It also injects some SYMPATHY and COMPASSION into an otherwise gritty, materialistic and matter-of-fact world of self-storage auctions! So, there is no obligation on bidders to do this, but auction participants with a heart will honor this request. (And you know who you are!:-)
************************
Well, that's it. Not exactly an exhaustive list, by any means, but surely a "quick-start" guide to Storage Auctions for Fun and Profit. And if you didn't find this article helpful, please come and see me, since I am also in charge of our Auctions Complaint Department (which, coincidentally, is located right next to the office shredder.... Don't know why that is. All I know is, we here at ARIZONA STORAGE INNS - CHANDLER strive for total efficiency! :)
See you at our next auction. That's FRIDAY, MARCH 11th, 2011, at 10:30 A.M.!
Your Manager and Auction Host, Paul
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