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Read our Privacy PolicyStorage unit auctions occur when a tenant stops paying rent on their storage unit and cannot be reached by the facility. After following the required legal notification process, the facility lists the unit's contents for public auction. You bid on the contents of the unit without being able to enter it — based on photos and video only. Note: BidVex charges the winning buyer a 5% buyer's premium on top of the hammer price. The facility is never charged.
Every bid you place is a maximum bid. The system automatically bids on your behalf up to your maximum, increasing by $10 increments only as needed. You only ever pay the minimum amount required to win. If another bidder's maximum exceeds yours, you will be immediately notified by email.
To ensure fairness, any bid placed in the final 2 minutes of an auction extends the auction by 2 minutes. This prevents last-second sniping and gives every bidder a fair opportunity to respond.
BidVex charges the WINNING BUYER a flat 5% buyer's premium on the hammer price — plus Stripe processing and applicable GST/QST on that premium. The storage facility is never charged by BidVex. Stripe-payment auctions: your card is charged for hammer + 5% buyer's premium + processing + tax at close. The facility receives the full hammer via Stripe payout. Cash / Interac e-Transfer auctions: you pay the hammer directly to the facility (cash at the facility or Interac e-Transfer to their registered email). BidVex separately charges your card on file for the 5% buyer's premium + processing + tax. Your bid deposit (if any) credits toward the buyer's-premium charge. In every case, the facility receives the full hammer price and is never invoiced by BidVex.
Accepted payment methods are set by each facility: Stripe (credit/debit card), cash paid directly at the facility, or Interac e-Transfer to the facility's registered email. Buyers always pay hammer + 5% buyer's premium + processing + tax. The facility is never charged BidVex fees. Payment must be completed within the timeline specified by the facility.
Winners are responsible for completely emptying the storage unit by the deadline specified in the listing. Failure to empty the unit by the deadline forfeits your cleaning deposit and may result in account suspension. You must coordinate pickup directly with the facility manager. Treat facility staff with respect.