OVERVIEW OF GOVERNMENT SURPLUS AUCTIONSMost people are completely unaware of the bargains that
can be found in the most unlikely of places: the government! We're used
to reading. of the Pentagon paying $59.00 for a wrench, about the
national debt rising higher and higher, so it's excusable to not think
of government and "sales" in the same sentence.
Yet nearly every level of government from city and town on up through
county, state and federal, has possession of excess property that must
be disposed. If this can be accomplished and money raised at the same
time, why not? We want government to be fiscally responsible, right?
The most common methods of parting with this overage of property is
through auction sales. These affairs offer a unique opportunity to the
right person -- purchases at bargain basement prices that you can turn
around and sell at a profit! The money to be made staggers the
imagination.
Whether it's property seized by police officers or
customs officials to repossessions by the Department of Housing and
Urban Development, there are thousands of items of all types available
at rock-bottom prices.
Whether you're merely buying for yourself or
seeing this as a line of business that could make you a substantial
profit, the key is to identify and locate these auctions.
You name it! Houses, cars, jewelry, yachts, farm Gov't equipment,
computers, firewood, it's there for the bidding -- and the buying! And,
eventually -- the selling for profit!
You don't need much experience for this. You are familiar with what many
of these items cost today on the open market. If you buy it far enough
below market value, you can still sell the property yourself at a
discount and make a handsome profit.
If you yourself have always wanted to own a luxury yacht, here's your
chance. You'll never find your dream purchase at a lower price.
You could even start a second-hand store or set up shop at a flea market
or swap shop to peddle your merchandise after you've acquired it. Many
of these places are havens for shoppers. You've simply gone them one
better by obtaining the good(s) at an even lower price than they'll pay
-- and be pleased with their "bargain".
The purpose of our booklet is to point you in the right direction to
find out about the various auctions that are held by virtually all
branches of government. The listings in this book are as up to date as
possible. Contacting these places listed should give you the information
you need to begin your auction attendance.
There are open-bidding auctions where you shout out the dollar value
you're willing to pay following a minimum bid requirement called by the
auctioneer. There are also sealed- bid auctions where you submit the
price you're willing to pay. You only get one shot at that type of
bidding.
Be careful with the open bid auctions. You can become so focused on a
particular piece of property that you end up in a "bidding war" for it
that ends up with you paying more than you should and cutting well into
your eventual profit.
Be disciplined! Set a dollar limit ahead of time
so that you can let certain items go if the bidding goes too high. This
is a business now, so common money sense is important. You must now
think in terms of expenses vs. revenue.
If you have a certain hobby or interest, property in this area may be
your natural market. If you specialize, it can help you concentrate on
only those items in the large auctions areas where there are hundreds of
people bidding for thousands of goods. Your focus will be in your area
and you'll soon be an expert on costs, prices and resale’s of this
commodity.
Auctions can be hyped up -- to the point of temptation to overbid. Don't
do it! Remember your goal, your budget and your knowledge of what things
cost and you'll do fine. Through the contacts listed in this booklet,
you will find yourself on a regular mailing list of government auctions.
Often, with the notice, you'll receive a catalogue of the items to be
sold and approximately what time they'll be auctioned. This will allow
you to budget your time wisely at these affairs and not get lost in the
shuffle. For More Info...
Good luck
