INFORMATION ABOUT STORAGE AUCTIONS
IN ALASKA

  
   With over 25 personal property storage locations in Anchorage generating close to
10 million dollars in revenue annually what happens to the renter if they do not pay their rent?
Well then the storage unit goes through a default process and it is generally sold at
public auction. 
     This business generates over $500,000.00 dollars a year and several people and business
make a living by buying and selling merchandise bought at these auctions.

     How do you find out about these auctions?

Well, several ways.
You watch the auction section or the legal notice section, in the newspaper or follow
the website of the auction companies who sell these units.
     How much do these units cost? The cost can range from $5.00 to $6,000 or more.
It depends on what you and another person think is in that unit. The average if there is
one is around $300 - $600.
    What should I look for? Start by how the unit packed, are the boxes professionally
packed (this is good) or is everything thrown in garbage bags and thrown in the unit
(this could be bad). Do you smell cigarette smoke or any smoke, cat odors, mildew or
other unfavorable odors? These are all bad signs and should factor in on your bidding.
What else do you see? Is there antique furniture or partial board furniture, what markings
are on the boxes? I know a person who paid over $2,000.00 for a unit that all the boxes
were marked "Glass" hoping that there would be some good crystal in the boxes.
The person whose merchandise was in the unit was named "Glass".
     What should I bring to one of these auction? Lots of patience, a good bright flashlight
to look into the units. Many units are inside buildings and a bright flashlight helps in
seeing what's in the unit. Padlocks, a stool or small step ladder, in winter, ice cleats and
warm clothing and be prepared to walk.
     Congratulations you just bought a unit now what happens? Well you put your lock
on the unit if you can and pay for the unit. You own everything in the unit the good with
the bad. Most storage companies will let you leave the personal papers behind but
everything else is yours to do with as you wish.
     Many people who are regulars either have a second hand store or do many yard sales.
It is not unusual to make a profit on one of these units and it is equally not unusual to
go bust buying one. With experience and time you should soon be making a profit on
what you buy.
As we say, "this is the only legalized gambling you can do in Alaska!"
Good luck