In general, online auctions are a convenient way to buy and sell storage units without the hassles of a live auction.
Despite their convenience, online storage auctions are still viewed with skepticism by some auction hunters. One major concern voiced by veterans in the industry is whether there’s any chance that the bids are faked.
They may be concerned that other bidders or even storage facilities themselves are placing false bids to raise the prices on an auction.
Unfortunately, the anonymity of the Internet does make this sort of activity possible. Luckily, there are safety measures in place to prevent it from getting out of hand. Some storage auction sites require users to leave their credit card information with the site.
Others, like OnlineStorageAuctions.com, don’t take a bidder’s credit card, but they do still require all bidders to sign up with the site and provide a legitimate email address and phone number.
OnlineStorageAuctions.com also watches for any suspicious activity, and anyone found to be manipulating bids will have their IP addresses blocked for their abuse. This will shut down repeat offenders very quickly.
Furthermore, it’s important to remember that the unit goes to the highest bidder who shows up to pay for the unit. If the unit’s price was run up by false bidders, the fake bids will be eliminated and the unit will still go to the highest legitimate bidder. This means that as long as you set yourself a budget and don’t go over it, you don’t need to worry about being run up by fake bidders.
In truth, most people in this business are out to make an honest living, and there are no more scammers at online auctions than might attend those at a facility.
Although a few dishonest people will always congregate anywhere that money is involved, the security features built into online storage auctions will help keep you as safe as possible.
Please leave your insightful opinion in the comment box below.