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Storage auction fraud?

legearlegear Member Posts: 6,716
edited October 2012 in General Discussion
Ive been watching for auctions in my area. I found that one company was going to have 10 auctions total at their locations. Well last month they were canceled, to be auctioned the 25th of this month. Now its cancled again, and the same locations have been booked again for November, and also for December. No units numbers are given, just the locations and its always 10 units total.

I am thinking they are running the ads to follow the law then telling people they are cancled so they may keep the contents or sell to 1 buyer they have a deal with.

Another reason I think there is a fraud going on is that I know for a fact that alot of the certified letters going to the units owners are being returned to the storage company. The owners of the unit have picked up and left. Dont ask me how I know, but I know it for a fact
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Comments

  • bigoutsidebigoutside Member Posts: 19,443 ✭
    edited November -1
    Send a letter to your state attny general.
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  • k.stanonikk.stanonik Member Posts: 2,109 ✭✭
    edited November -1
    May not be fraud, some of the renters may have com forward and settled the rent and moved out, Live auctions are not cheap and they may be building more units to either replace settled units or building more to add to the sale. Auctioneers dont come out for low dollar amounts, been in the industry for the last 12 yrs.
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  • MercuryMercury Member Posts: 7,836 ✭✭✭
    edited November -1
    Very simple answer: They send out 10 letters, 4-5 people pay, and so they only have a few units to auction. The auctioneer is going to charge a buttload of money, no matter how many units they have. So, they don't want to bother with just a few units. They'll "save" them up until they get a bunch to sell all at once.

    Merc
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  • RustyBonesRustyBones Member Posts: 4,956
    edited November -1
    A lot of the local ones here send out auction notices every week, but most are cancelled. I think they do it to drum up buyer attention in case they have units to auction by the sale date.

    I never make it to the storage auctions since they all happen right in the middle of the day for some reason.
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