OpenTech Reports 60K Auctions in December on StorageTreasures.com

Phoenix, AZ – OpenTech Alliance, the property tech leader in the self storage industry and managing stakeholder of StorageTreasures, announced record auctions results for operators on the online storage auction platform in 2021. The platform saw significant spikes in December, recording the most auctions ever hosted by storage operators, a total of 59,672 auctions, in the site’s 11-year history.

During the calendar year 2021, the StorageTreasures.com e-commerce website reported:

  • Sellers hosted 547,767 online storage auctions, of which:
  • 293,150 auctions sold
  • 230,149 cancelled, many resulting in recovered delinquent rent
  • Sold for an average $244 per unit
  • Recovered an average 44% lien losses from auction sales

 

Factors related to the COVID-19 pandemic, such as increased delinquency and restrictions on in-person gatherings, attributed to the record growth. Online auctions have provided a critical avenue for self storage portfolios to manage lien sales and recover delinquent rent. Operators who made the switch from live auctions to StorageTreasures.com report the platform has extended their reach, improved rent recovery and shaved valuable time off the lien sale process.

StorageTreasures is the premier online auction platform, trusted by over 18,863 storage facilities to complete more than 40,000 average auctions each month. Learn more about StorageTreasures here, or contact us today.

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