What ends up happening when the winning bidder at an auction cannot pay or does not pay?
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Context matters.
I am a self-storage facility manager. An unfortunate part of the job is that some folks for reasons either unfortunate or the result of their own actions do not pay for an extended period, and the contents go up for auction.
With our auctions, it goes to the next highest bidder, and keeps going down that list until either someone pays, or we run out of next highest bidders and it’s considered a no-sale. From there we have to either decide to auction again, attempt to make acceptable arrangements with the occupant, or in some states we are able to declare the contents have no commercial value and may be disposed of by any non-sale manner we deem necessary.
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