Auctions that occur on the same date and within the same vicinity as one another. Typically, caravan auctions are held by the same auctioneering company and participants travel from location to location and continue bidding on different items. Primarily relevant to Storage Auctions. These auctions are especially valuable for resale business owners because of the number of units available. The more there is to bid on, the more likely you are to find valuable items that can be resold and turn you a profit.