Posted by admin as General Tips & Advice
A common legal remedy is “lien” whereby the goods of a customer are held effectively at ransom, until the customer pays the seller the outstanding amount of money. Lien can only ever be exercised over physical goods, and is used in a variety of different situations and professions in order to allow the seller an effective and dependable means of recourse, in the event of non-payment (also known as default) by the customer. Lien is especially common with the self-storage industry, and usually the customers would rather pay the fees, than risk losing the property outright.
In some cases however, (for whatever reason) the customer will not pay the money that they owe the self-storage facility and as a result will find that the goods that they stored in the self-storage unit will be sold at auction. For the original owner this can turn out to be a rather disastrous outcome, especially in regards to items that have little monetary value, but a very high sentimental value.
For potential browsers and buyers however, auctions which feature property recovered from self-storage units can provide a fantastic array of treasures and items of exceptional value, given that the primary focus is to recoup money the prices are aimed to ensure a quick sale as opposed to recover the full monetary value.
The items that are featured and which are on for sale are wide ranging indeed, domestic items, comic collections, computer games, sporting equipment, electronics you name it and its there. It is simply amazing just how much is on offer.
Make sure you set yourself a maximum limit as to the amount of money you are actually willing to bid and finally part with. The problem is that people tend to get too emotionally invested in the whole auction process and so make foolish judgement calls.