Caravan Auctions: Auctions that occur on the same date and within the same vicinity as one another. Typically, caravan auctions are held by the same auctioneering company and participants travel from location to location and continue bidding on different items. Primarily relevant to Storage Auctions. These auctions are especially valuable for resale business owners because of the number of units available. The more there is to bid on, the more likely you are to find valuable items that can be resold and turn you a profit.
Open Bid Auctions/English Auctions/Bin Auctions: This categorization is most relevant to Storage Auctions. The word "bin" refers to the actual storage unit itself, including everything inside of it. Bin auctions are generally more common than Piece Auctions. The bin auctions are the type seen on A&E's show Storage Wars and similar shows.
Piece Auctions: When individual items at certain types of auctions (primarily Storage Auctions) are sold piece by piece from within a unit. Piece auctions are less common than bin auctions due to individual state lien laws that may prevent auctioneers and facility employees from entering a unit to catalogue inventory before the sale of a unit. However, when these types of auctions occur, often the individual items sell for more than the entire unit would have.
StorageUnitAuctionList.com Exclusive Auctions: StorageUnitAuctionList.com offers their subscribers hundreds of exclusive, verified auctions each month that cannot be found anywhere else. These auctions are denoted on the website with an icon so that subscribers can easily find them!
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