Online storage auctions are swiftly gaining in popularity. They are more convenient than traditional auctions and don’t require you to travel all over town to bid on units that may not be worth looking at.
They also give you time to research the units and carefully consider your bids, something that’s not possible during a bidding war at a live auction.
Despite their convenience, though, some buyers are reluctant to sign up, either because they don’t understand how it works or they don’t see that it’s necessary.
One thing that might be holding some bidders back is the question of how payments will be handled. Different online auction sites handle this differently, so it pays to do some research before committing to something you might not want.
Many storage auction websites collect a bidder’s credit card information at the time they sign up. This is used to automatically bill the winning bidder after the auction ends. This prevents bidders from abandoning the storage unit, and it’s an attractive option for many facilities that don’t want to risk wasting time on no-shows.
Not all bidders are comfortable with this, though. An auction website may not be secure, and a person’s credit card information could end up in the wrong hands. Unscrupulous auction websites may even misuse the credit card information they have. Also, some bidders don’t have a credit card or simply prefer to pay in cash.
Fortunately, not every online bidding site requires you to input your credit card information. OnlineStorageAuctions.com, for example, doesn’t collect any money or credit info from bidders. You can simply sign up, bid, and pay in cash at the storage facility.
This way, you don’t need to worry about the security of your finances or the hassle of using a credit card when you’d rather pay in cash; you can deal directly with the storage facility just like you would at any live auction.
Ultimately, it’s up to you to decide how comfortable you are with giving your credit card information to auction sites. If the idea makes you uneasy, you can choose a service – like OnlineStorageAuctions.com – that allows you to pay at the facility instead. This reduces your risk and saves you money spent on buyer’s fees and other additional costs that some online auction sites may charge.
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