November 7, 2008, Colorado Springs
Schur Success Auction Services C.O.O. Rich Schur announced today that for the first time, the company has sold more than 1,000 self-storage units in a single year, well ahead of projections. "Based on our continued growth and expansion of services to new Self-Storage Clients in Colorado, we've experienced more than 25% growth in storage auctions this year". He added "with positive customer referrals and a more aggressive marketing campaign, we're now serving nearly 100 locations". "With 2 months left in the calendar year, we're likely to hit the 1100 unit mark, clearly making us the largest self-storage auction provider in Colorado".
The economy is surely a factor in the need for more auctions, and despite the tremendous growth in the number of units sold (compared to this same period last year), the average sale price per unit has dipped by about 15%. 'That's good news for auction buyers, and a reality check for storage center owners and managers" said Schur.
Storage units go to auction only when all other collection methods have failed. The clients that Schur provides service to pride themselves on working with their renters to collect payments and avoid auctions. Knowing that auctions tend to bring in significantly less than what the renter owes, auctions become the last resort. However, once the auction is completed, the storage facility still has the right to pursue collections – and many choose to do so.
Schur Success Auction Services (formerly Ray Fenter & Associates), has been providing auction services to self-storage centers for more than 20 years. In the last four years, it has become a market niche that Schur has targeted. In 1995, the company served less than 40 facilities. Since that time, the company has expanded its services to 96 locations. In addition to providing the on-site auction services, the company also provides a lock-cutting and inventory service to more than half of their clients. This service provides an extra layer of protection to the renter and the self-storage facility by providing a third-party witness to ensure the procedure is done properly. By providing both the lock-cut and the auction services, Schur can ensure the integrity of the unit from the time it is locked-out until the time it is sold.