Question: How do I know whether or not I need a licensed auctioneer to conduct my self-storage sale?

Answer: If you are in a state where you have a self-storage statute, the answer is often found within the statute. If you are in a state (and there are a few left) that does not have a self-storage statute, the answer is dictated by your state Uniform Commercial Code and/or your self-storage contract.

Let’s focus on the states with a statute. The language of the statute may not be, on first glance, specific about the requirement to use auctioneer or not. However, the term “auction” is generally a legal term of art in your state statute. What does this mean?

What this means is if your state statute uses the term “auction” the term auction is often defined in another one of your statutes. For example,West Virginia requires the operator to “proceed to enforce the self-service storage lien by selling the contents of occupant’s unit at ‘public auction’ forcash and applying said proceeds to the satisfaction of the self-service storage lien, with the surplus, if any, to be disbursed as provided …” One might be thrown off by the term “public auction” as opposed to “auction.”

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Mini-Storage Messenger is the leading monthly trade magazine covering the global self-storage industry. MiniCo Insurance Agency publishes Mini-Storage Messenger in both print and digital formats. Other publications include the “Self Storage Almanac,” “Self-Storage Canada,” “Self Storage Now!,” and the “Self Storage Buyer’s Guide.” For more information, please visit: https://www.ministoragemessenger.com

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