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  • 1.  Auction timeline

    Posted 05-02-2023 03:45 PM

    Good afternoon all! I hope everyone's start to the month of May has been busy, busy! 

    I have a question about the timeline for auctions and want to make sure that we are reading it correctly. The GoldBook states that you can conduct an in person or online auction 15 days after the 1st newspaper ad runs. We do all of our auctions online. On the 16th day, would you start your online auction? Or do you think it would be okay to start it before the 16th day and end it on the the actual 16th day after the first ad? We just want to make sure we are not misinterpreting the timeline guidelines.

    Thank you!



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    Terri Wood
    Executive Assistant
    Ideal Self Storage
    Waco TX
    (254) 301-4071
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  • 2.  RE: Auction timeline

    Posted 05-03-2023 03:44 PM
    I asked this question at one of the legal seminars a few years ago. I was told that the auction cannot end before the 15th day after the 1st ad runs. I normally post it to preview around the time the 2nd ad runs, then I start the auction a few days later and run the auction and it ends on that 15th day. 

    I hope that helps.

    --
    Sarah Cole
    District Manager
    Storage Depot DFW
    Brownwood Climate Controlled Storage
    Storage of Weatherford
    817-846-0003

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  • 3.  RE: Auction timeline

    Posted 05-03-2023 04:04 PM

    Thank you so much Sarah! We have never done it that way but a newer employee was asking so we started thinking we may be able to get these auctions completed sooner than we had been. I appreciate the feedback that this has already been asked at legal and it is working for others. Have a great day!



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    Terri Wood
    Executive Assistant
    Ideal Self Storage
    Waco TX
    (254) 301-4071
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    Original Message


  • 4.  RE: Auction timeline

    Posted 05-03-2023 04:12 PM

    Thanks for posting this question Terri!! So, Sarah, how long do you guys run your auctions then? If you are posting for preview on day 7 and then starting the auction a few days later, say on day 10, does that mean you actually run the auction and have it live for only 5 days online? I have been running auctions for much longer and would love to shorten that timeline down!



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    JoLea Conn
    OnSite Manager
    ALL*STAR STORAGE
    Richmond TX
    (281) 341-7867
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    Original Message