Interstate’s Kenneth Morrisette Jr conducts auctions as needed in the administrative process of dealing with abandoned goods
Online self-storage auctions are becoming increasingly popular. Perhaps it’s the opportunity to acquire merchandise at a bargain, the mystery of unknown contents, the thrill of betting on good fortune, or the prospect of potentially making a profit through resales, driving auction popularity. Auction services, such as CubeSmart, Lockerfox, and Storage Treasures provide regular on-line bidding auctions. Online auction services tout the opportunity “to bid in online storage auctions on a computer or other mobile device without having to step foot at a live auction.” Other moving and storage companies, such as Interstate Moving Relocation Logistics, a long distance moving company which operates a warehouse in Springfield, hold less frequent on-site auction offerings.
If you bid successfully, will you be the new owner of trash or treasure? It seems that’s where the mystery and chance come in. Potential online bidders are provided photos of the unit. The photograph may show some individual items or only jumbled cartons and boxes. Content comments provide only vague descriptions, such as “assorted boxes, furniture, household goods,” along with the storage unit size or weight. Bidding may start at $10 online. Successful bidders typically pay a ten percent buyer’s fee immediately and have only a limited time to completely clear out and clean the unit. So while online technology provides the ability to participate in auctions in distant locations, bidders are wise to consider the logistics of reaching their bid treasures.
At InterState’s recent on-site auction, their first in recent years, three unit contents were on offer. Bidding started at, for the first, $47,000 for eight containers weighing 11,420 pounds; for the second, $9,950 for two containers weighing 3,700 pounds; and for the third, $2,640 for three containers weighing 2,060 pounds. Do the high dollar values indicate a boom of treasure awaiting the successful bidder? The on-site auction conducted in the company’s lobby provided no greater ability to know the contents than a reading of items, including books, clothing, furniture, speakers, garage equipment, ironing board, knick-knacks, bookcases, patio chairs, sectional furniture, etc.
The high dollar amounts associated with the units reflect the amount of unpaid rent, not the value of the contents.
There were no bidders at the InterState auction other than InterState itself. Under Virginia’s administrative code processes for warehousers, the company’s bid allowed it to claim legal ownership of the abandoned goods and dispose of them. InterState’s vice president, Kenneth Morrissette Jr., described the handling as “a very administrative process.” He indicated the disposal is the final step and comes only after speaking with the owners, in some cases for many years, attempting to work with them on delinquent payments, posting a legal notice of intent in the local newspaper, and holding the auction. The owner could have claimed the objects, once regarded as their treasures, at any time in the process. A similar process provides relief for self storage business owners under Virginia Code §55.1-2900.
Self storage unit renters are considered delinquent after 60 days of unpaid rent. The owners lose their treasurers but typically the business writes the past due rental off as a loss rather than pursue a lengthy court process for recovery of lost payments.
What’s next for these contents? It seems the treasures, though once coveted, protected and secured in paid rental space for months or years, could find a new place either in bidders’ homes or through resale. Often they are destined to be re-designated as trash with a permanent home in the county’s landfill.