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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 its platform fee to the facility, not to you as the buyer.
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 a 5% platform commission to the storage facility — not to the buyer. Buyers always pay only the winning bid price. How the commission is collected depends on the payment method selected by the facility. Cash / Interac e-Transfer auctions: after winning, you pay the winning bid amount directly to the facility (cash at the facility or Interac e-Transfer to their registered email). BidVex separately charges the facility a 5% commission on the winning bid, plus applicable GST/QST. No BidVex fees are charged to buyers. Stripe payment auctions: after winning, you pay the winning bid amount via Stripe (credit or debit card). BidVex deducts its 5% commission plus applicable GST/QST from the facility's payout. You pay only the winning bid amount — no extra fees. In all cases, the buyer pays the winning bid price only. The 5% BidVex platform commission is always paid by the storage facility, never by the buyer.
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 pay only the winning bid. The facility is responsible for all BidVex platform 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.