What is the recommended auction duration?
The recommended auction duration for your storage unit auctions on StorageHunt is a decision that you, as the facility owner or manager, can make based on your specific preferences and goals. However, we recommend setting an auction duration of at least 4-7 days for optimal results.
Here's why this duration is recommended:
Visibility and Bidding Time: A longer auction duration allows for greater visibility of your storage units and provides bidders with more time to evaluate the items and place their bids. This can result in increased competition and potentially higher final bid prices.
Accessibility: A 4-7 day duration gives a wider range of potential bidders the opportunity to discover your auctions, especially if they may not check the platform every day. This can help attract more interested buyers.
Flexibility: It also offers flexibility for bidders who may have busy schedules. They can participate in the auction at their convenience, increasing the likelihood of active bidding.
Strategic Timing: You can strategically time your auctions to start and end during periods when you anticipate higher bidder activity or when it best suits your facility's operations.
While we recommend a 4-7 day auction duration, the ultimate decision should align with your facility's needs and goals. You can adjust the duration based on factors such as the demand for your units, the specific items being auctioned, and your desired auction strategy.
StorageHunt provides you with the flexibility to set the start and end times for your auctions, allowing you to tailor your approach to maximize auction participation and revenue. If you have any further questions or need assistance with setting up your auctions, please don't hesitate to reach out to our support team. We're here to help you make informed decisions and optimize your storage unit auctions.