Internet auctions typically last seven days, and operate like eBay auctions. Each listing links to the auction house website where bids can be placed. From that site, bidders are asked to register in order to bid on a vehicle. Live auctions are public auctions held at a specific date and location and are usually published in newspapers in addition to the online listing at GovSales.
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These programs are meant to benefit taxpayers as a whole, but could they benefit you, the individual taxpayer? Can you bag a bargain at a government auction? "GSA's goal is to maximize return to the federal government," the GSA spokesperson said. So they're not giving this stuff away. In fact, the government sets "reserves" or minimums for the most valuable property it auctions off. But judging from a wide tour of current government auctions and bids, there are still opportunities to walk away with valuable goods for a great price. Here's a look at who's selling what, where, and for how much.
Government seized-property or surplus auctions are held all over the country at various locations and on various schedules. Typically an auction is held at a particular location on a regular basis — usually monthly or quarterly or annually. Local and national newspapers often have listings and details. Usually these are more than just car auctions. All kinds of property are included, including real estate.
Several different federal agencies hold government auctions. The General Services Administration is the granddaddy of them all, because it sells on behalf of other departments. When a federal agency no longer needs something — say, a pickup truck — it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits. If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it.
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Charity Auctions Today is a powerful online auction platform that proudly asserts it makes it easy to raise money online. This auction software site is trusted by more than 4500 clients, making it easy for charities to generate mobile and online auctions and start making money. As well as offering affordable pricing for auction software, sellers aren’t locked into contracts on this site, and can take advantage of live phone and 24/7 email support.
For local or county auctions, notices and listings will appear in only one local newspaper. Find out which one. Many government auctions and sales, both federal and state, are listed on the FirstGov.gov web site, run by the U.S. government. A catalog of vehicles for a particular auction will be available on the day of the auction, or a few days prior, from the auction administrator.
StorageTreasures.com is the internet's leading storage auction information portal, online storage auction marketplace and local self storage locator. By offering the most comprehensive self storage auction schedules available on the internet, the site has amassed the world's largest storage auction audience. In addition to storage auction hunters, the site serves auctioneers, appraisers, pickers, yard sale buyers, self storage customers and facility owners throughout the US and Canada. StorageTreasures.com has appeared on A&E's Storage Wars, Fox11News Los Angeles and ABC 6 Philadelphia.
If you're looking for live auctions, AuctionZip is the place to go. These live auctions are events that users can view right within their web browser, and they can bid for items online at the same time as bidders on the auction floor. With live bidding, users can access auctions around the world and get in on all the action without any software to download or special tools to buy. The website lists auctions that are live or are upcoming soon. After you register to bid, you go straight to the auction, where you watch what is happening and bid in real time if you see something you like.
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But the competition at county auctions is brutal and it's only getting stronger. "Taxi companies want the old cruisers to use as cabs," Lang says. "And often there are government employees who are going after a vehicle that they used on the job and grew fond of. A lot of the school buses and trucks get bought by brokers looking to ship them overseas to poorer countries that will use them for public transportation. These are guys who go to government auctions all the time, know what to pay and know a lemon when they see it. You won't be the only bargain hunter out there."
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2. There's no exchange or refund policy. In every good thing, there's always a catch. When it comes to used cars, you will be a little bit disappointed with its quality. To make things worse, you cannot actually return it right after you have purchased it. If you want to ensure that you will be able to truly maximize your money, double-check your desired car first. Have a mechanic or a car professional with you during inspection. His pieces of advice and comments will become invaluable.
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1. You're not used to the process. It may sound like an ordinary auction, but it's not. There are rules that need to be followed, plus the fact that you're practically dealing with the government. Your fear and awkwardness can definitely affect your bidding decision. To ensure that you will be able to bid properly, get yourself comfortable not only with the auction procedures but also with the people around you. They normally have practice auctions. It's ideal if you can attend at least one of them. You may also try to observe real government auctions and take note of how veterans bid for these cars.
Its unfortunate for them but, fortunate for you that this silver 2006 GMC Envoy Denali is being auctioned off by the IRS next week. This SUV has approximately 31,000 miles, 5.3L V8 engine, leather seats, wood finish dashboard, power everything, 4 door interior wood trimming, and equipped with Onstar. So if your looking for safety, reliability, and luxury, click here for membership information about this auction.
You must be willing to bid and lose in any kind of auction. You must also be willing to bid and win, and be prepared to pay cash or finance within the required time set by the auction company. You can apply for a pre-approved used-car loan at your bank or credit union, or at an online auto loan company such as Auto Credit Express, and be prepared in case you win a bid. Personal checks are not usually accepted, although credit cards, money orders, certified checks, and traveler’s checks are accepted.
3. There's intense pressure in government auctions. If you happen to see an auction either in television or in reality, you know that it's going to be truly fast pace. You have to think quick and efficiently. If you aren't ready with this type of environment, have someone who can do the bidding for you. Otherwise, you have to start looking for a used car dealer.