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The bidding for each auction closes at the scheduled time. In the case of sales of multiple lots, the participants with the highest bids at the close of the auction are obligated to buy the items. If no one bids at or above the reserve price, the auction closes without a winner. At the close of a successful auction, the buyer and seller communicate, usually by email, to arrange for payment and delivery of the goods.
"There are two types of public auctions," explains Steven Lang, who runs a used car dealership in the Atlanta area and once owned a dealer auction (not open to the public). "There are government auctions and there are public auctions." Both are full of potential pitfalls. Here's a quick rundown on both and 10 tips for getting the most out of either. That is, if you dare to venture into the auction pit.
Due to the various governmental units that supply the vehicles for auction, there's no single reason for vehicles being brought to auction. Some of the vehicles are confiscated due to the former owner's involvement in drug dealing, smuggling, or fraud, while other vehicles were simply just abandoned. On exception, separate auctions will sometimes be held for very large seizures.
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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.
After 8 years serving their specialty prime rib to the town of Berthoud the Whistle Stop Tavern has closed its doors and the owner has decided to sell all assets at public online auction. This auction to include: Turbo Air sandwich cooler, Southbend 4-burner range with griddle and double oven, fryers, under counter refrigeration, 6-tap direct draw cooler, tables, chairs, booths, wood bar, bar stools, Colorado Rockies stadium flown flag, glassware, smallwares, shelving, stereo, security camera system, TVs and more.
We researched and compared the top seven online auction sites to find the best. We compared selling and listing fees, payment options, support features and the size of each site’s user base. After our research, we think that eBay is the best online auction site because it has over 160 million registered users. Though this site charges a higher final value fee than other sites we researched, it doesn’t charge for seller verification.
DON'T MISS OUT ON THIS OUTRAGEOUS AUCTION SALE!!!! NEW PERLICK DUAL TOWER BEER KEGERATOR, NEW PERLICK BAR BACK, NEW TRUE 2 DOOR COOLER, NEW TRUE ONE DOOR FREEZER, NEW ICE-O-MATIC ICE MACHINE, NEW GLAS TENDER BEER COOLER, PERLICK BEER COOLER, GLAS TENDER BAR BACK, NEW TRUE BEVERAGE MERCHANDISER, NEW TURBO AIR FREEZER MERCHANDISER, NEW FWE FOOD WARMING CABINET, SCOTSMAN ICE MACHINE, NEW ALTO SHAAM [ View Full Listing ]
Treasury Department Auctions: The other agency very active in holding auctions is the Treasury Department, with roughly 300 sales per year. Treasury often offers in-person previews in California, Florida, New Jersey and Texas. Treasury auctions off "property forfeited as a result of violations of federal law enforced by the Department of Treasury or nonpayment of Internal Revenue Service taxes," according to its website. There are many categories of goods, including concrete items like antiques and coins but also less tangible property like stocks and patents.
As the action at public auctions has grown hotter, the cars have grown shadier. "I've personally seen cars with over 300,000 miles on their clocks rolled back to 120,000 and sold as 'Miles Exempt' meaning no guarantee of mileage," he says. "Most of the cars at a public auction are the worst trade-ins or very rough repos." And as in a government auction, you can't drive a public auction vehicle before you bid on it.
Boulder, Colo., police started using PropertyRoom.com in 2007, mainly to unload property that couldn't be traced back to the owners. Before items are put up for auction, they are posted on the police department’s Web site for four weeks. Previously, the department had been stuck holding onto items for up to three years, said spokeswoman Sarah Huntley.
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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Antique Pump Organ, Nice Vintage Collectibles, Vintage Stereo Equipment, Furniture, Refinished Mahogany Table, Tube Amp, Old View Master Collection, Dynaco Speakers, Computers, Turntables, Vintage Snakeskin Bag, Vintage Metal Cooler, P Buckley Moss, Military Trunk, Bose Stereo, Kirby Vacuums, Tools, Heaters, Shelving, Gold and Sterling Jewelry, Salt Lamps, Carpet Cleaners, and MUCH MORE!
Shopping for the perfect heavy duty pickup truck. Well look no further because this 2004 Chevrolet Silverado 2500HD will be going up for live auction this October 15th and you're invited to attend! This beastly extended cab vehicle has 4WD, a 6600 Duramax Diesel V8 Engine with an Allison 5 SPD Automatic transmission and about 100K miles. VIN: 1GCHK29124E173001 The starting bid will be $5,400 so be sure to register with us now if you'd like to learn more.
Over 80 Impounded Vehicles by the City of Aurora Police Department. Including Trucks, Cars, SUVs, 4x4s, Trailers, Much More! Please note that vehicles are subject to deletion from the auction. TERMS: Inspection is the day of auction from 8am to 10am. Visual inspections of the vehicles are recommended, there is NO starting the vehicles. There will be a list posted at the auction site on the auction day with the reason why each vehicle was impounded. Registration starts at 9am. A $50 ful...