Government Surplus Auctions are auctions held by government agencies to sell on a variety of goods that are surplus to current requirements or that have been confiscated or seized by customs or law enforcement agencies. These goods can range from filing cabinets that are no longer required to luxury vehicles that have been seized from drug dealers. You, as a citizen of the United States, can purchase these items at government auctions with many lots being sold at cost price. The government is not looking to turn a profit on these items so you have the opportunity to grab a bargain for yourself, or perhaps you want to buy some low cost stock to sell on eBay? Read on for all you need to know about the treasure trove at government surplus auctions.
So What Goods are Available at Government Surplus Auctions?
In short, I would say you name it and you will find it but I will break that down and be a little more specific!
Vehicles – these may be vehicles that have been used by government officials for various duties. Government departments will normally have policies on how often they will turnover their car stocks, once a vehicle has reached a certain age it may be auctioned. These vehicles will normally be well maintained in line with health and safety legislation. Other categories of vehicles that may be available will include vehicles seized from those perpetrating illegal acts and abandoned vehicles. So as you will see, there is large variety of vehicles available from good solid used cars, to luxury models to older stripped out cars that were no longer of use to the owner. Government auctions will provide a list of vehicles available with accurate descriptions and you can inspect the vehicles before purchase so you will know exactly what you are bidding on.
You will not general find military vehicles for sale as many models are deemed unfit for use on public roads. Please beware of the scammers telling you, that you can buy military vehicles for your personal use as you will generally find their claims to be untrue.
Land and Property – areas of land and even residential property can be available at government surplus auctions. Again this property may have been owned by a government department that no longer has use for it or it may have been seized for non payment of taxes by the owners or because it has been purchased by the proceeds of crime.
Personal/Electronic/Other Items – you can let your imagination run free here. Think of all the goods people try to smuggle across borders or try to get past security at airports (minus the drugs and weapons) from jewelry to designer goods and electronic items. There will also be a myriad of items that have once been used by government departments but that they no longer need and this could range from office furniture to power tools to coffee machines to books. There really is no limit to what you will find. The only thing I will say is that you are unlikely to find goods that are brand, spanking new complete with the original packaging but then I would rather get what I want at a real low price than inherit yet another cardboard box to dispose of!
Where Can I Find Government Surplus Auctions?
There are numerous ways to find these auctions. Many of the resources are free and there are some paid services that provide comprehensive listings.
Free Resources
- Local Newspapers/Classified Advertisements
- Trade Journals
- Local Government Agencies
- Online Government Websites
- Radio/TV Advertisements
- Notices in town halls, post offices or other public buildings.
If you are someone who likes to keep an eye out for a bargain or you are looking for something that you don’t need to have immediately, checking out the above resources will most likely fulfill your needs.
Paid Resources
There are a number of websites that provide listings of government and repossession auctions. These tend to provide full listings of all the auctions taking place around the country. If you are looking for something specific and have a limited budget or timeframe in which to get it or you are looking to buy goods regularly to sell on at a profit, it might be worth your while checking out one on these services. I am not encouraging you to spend money you don’t need to spend, the above list of free resources may be all that you need in your circumstances, but if you don’t have time to check the papers or browse government websites looking for auctions, then it might be worth a few dollars to save you time and make sure you don’t miss an auction you want to attend. If you are interested in exploring this option further, then why not check out this FREE Trial to see if the service is of value to you before parting with your hard earned!
Can I Buy a Ferrari with 10 miles on the Clock for $1 at Government Surplus Auctions?
You can probably buy a Ferrari with zero miles on the clock for a dollar or ten at your local toy store, but being realistic you won’t get that kind of bargain at a government surplus auction. Having said that, the government is not looking to profit from the goods sold and needs to avoid racking up storage and handling costs for goods they no longer require, so you will find goods available at prices much lower that you would buy them elsewhere. There will often be reserve prices at these auctions to ensure that fair value is achieved, but you can be sure that government agencies don’t buy anything at retail prices and with their purchasing power they will often be getting a discount on the kind of wholesale prices normal businesses with pay. Knock off a bit more for fact that these goods have been used and you can start to see some juicy bargains on the horizon!
Just a Few More Tips Before the Bidding Starts
Before attending an auction check out a list of goods available and pay attention to the descriptions. If you are planning on buying high ticket items such as a house, land or a car, you might want to do a little research on market values etc. before going to the auction. Make sure you inspect the goods you are going to bid on prior to the auction to make sure they are to your satisfaction.
Also, some auctions will require you to have ID to register and you will need to check their payment requirements. Many auctions accept various forms of payment but normally you will have to be able to prove that you have the funds via a certified check, cash, confirmation of your credit card limit etc. It is worth finding out the exact requirements before showing up at the auction.
Now are you ready to go get some bargains at government surplus auctions?
