Have you ever wondered about attending government auctions? Many people are interested in them but never do the legwork to find one or actually attend one. At a government surplus and seized property auction, you may find everything from cars and boats to fancy jewelry to electronics. A government auction may include surplus property from government agencies, seized property from the police or from tax liens, cars that were impounded, office furniture that has been replaced, and anything else that has made its way into government hands and is now up for sale.
You may be skeptical about the deals you can find at these auctions, but rest assured, the savings are real. There is no minimum purchase price, so no matter how low the bidding stays, the high bidder will be able to purchase the item. You could get a nearly new car for under a hundred dollars at a government auction with a small turnout.
So how do you find government auctions in your state? Every state has them, but they can be somewhat difficult to find. There are countless websites that promise to offer you “secret” information about these auctions, but this information is also available elsewhere for free.
Unless you want to pay someone to do the legwork for you, do some searching on your own. Contact your state treasury department or look on their website to find the location and date of the next state auction. Many government auctions are run by the GSA, the federal government’s agency for purchasing the supplies and equipment for federal employees. Some GSA auctions are run online, while others are held in-person. Visit http://gsaauctions.gov/ to learn about GSA auctions in your state.
You’ll also find auctions held by the local police department, the local school district, and countless other government agencies that have surplus property that they need to sell. By law, any government surplus property must be disposed of through a public auction. Today, many government auctions are even held online. Many agencies sell their surplus goods on eBay, while others use GovDeals (http://www.govdeals.com), a site dedicated to government surplus auction sales.
Anyone can attend and bid at these auctions. You don’t need to be a government employee or have other insider connections. Most states require bidders to be over 18, and you must register on the day of the auction before you start bidding. The actual auction process works much the same as any other auction you may attend.
You will have a chance to inspect the property before the auction begins. You may or may not be able to test mechanical items, such as vehicles or electronics. They may be sold “as-is”, which means that there’s no guarantee that they are in working condition. Still, buying items in this manner can save you a ton of money.
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