Many items, are available for purchase at a growing number of Web-based auction sites specializing in government surplus, seized, abandoned, and forfeited products.
Government auctions have been around for years. But the growing use of the Internet as an auction medium, combined with general dissatisfaction at the travel, expense, and effort involved in putting together and attending land-based auctions, has led to the huge increase of the government Web-auction model. It is clean that In today’s society, we like to do everything from the comfort of our home. Although government auction sites can yield good deals, it helps to have had experience in the auction world
Almost every product that is for sale in the United States will at one time or another be available at Auctions.
The items up for grabs at government auctions can range from brand new to utterly beat up – The downside to these actions Is the fact that you most likely will not be able to inspect anything very thoroughly.
Auctions move at a very fast clip. When you bid on an item be careful not to over bid yourself. That is probably the most common mistake beginners make. The trick is to know how much value to place on an item. This is when some of your extra time could save you money in the future… Read your local newspapers classified ads. Every thing under the sun is for sale in the classified ads. Reading it will give you a good indication of a starting place to know what an item will sell for. Every time you look at an item at an auction, You should put two prices on it. One is the price that you will pay, and two is the price that you can sell it for . Some auction organizers claim to be associated with the government when they aren’t at all. To avoid falling for such schemes, contact the agency allegedly being represented to make sure the auction is legit, and view ads that refer to “the government” in a generic way as red flags.
Before you participate in an auction, do the homework! find out whether you could be on the hook for entry fees, buyer’s premiums (fees paid by the winning bidder), taxes or shipping costs, which could at times cost more than the actual item you are bidding for. Also know what forms of payment are accepted and what return policies exist, if any.