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Government Auctions – A Paradise for Bargain Hunters!

Uncle Sam Sells Cheap

Government auctions are a well-kept secret of canny shoppers.

Did you know you can buy just about anything at a government auction?

The best news is you will often get a very good deal on your purchases!

The purpose of the auction is to find someone who has a use for the merchandise the government can't use and to raise revenue for the government. These auctions are taking place all the time! Some you can attend in person, others are conducted online.

Government auction items come from two places. One is the government's own surplus or obsolete items. These items could be anything from bulk stationery to ex-government cars.

The second list of items are seized from the public. This could be from a number of different circumstances – property foreclosure, loan defaults, even items confiscated from criminals such as jewellery and televisions.

Auctions are held by all levels of government.

You can look at state government auctions and find yourself bidding on foreclosed homes or seized property. Buying a property this way can save you literally thousands of dollars, as the government is looking to make back their money as quickly as possible.

People who file for Chapter 7 bankruptcy have to have their assets liquidated at auction.

You can find where these bankruptcy auctions are by doing an online search. Bankruptcy auctions tend to have the biggest range of items available – you are, in effect, bidding on the contents of somebody’s entire life.

Depending on the wealth of the bankrupt person, you can find almost anything at these auctions – household appliances, homewares, furniture, jewellery, cars… whatever once belonged to this person can now be yours!

Every day the police seize property obtained from people engaging in crime. These items are up for grabs at government auctions.

You can find government auctions for seized commercial property, jewellery, art, vehicles, coins, luxury items, inventory, antiques and collectibles - almost anything you can think of is available through a government auction.

How do I get involved?

There are different ways of approaching a government auction.

To take part in an auction you have to be registered. Bids can be written, made in person or in some cases made online. You have to check out the particular agency or auction house to see what their rules and procedures are.

For example, if you look at the U.S. Treasury site, (http://www.ustreas.gov/auctions/) they provide detailed information about their auctions. They tell you where they are and when, and that you should view the items before bidding. All bidding is voice bidding - even though they will accept written bids they don't have any online auctions.

They also list all of their terms and conditions including deposit and payment information, removal of the auctioned item and other useful information. It is important to note that you will need a government-issued I.D. to enter the auction.

The site also has a full catalogue so that you can peruse what is available before you attend the auctions. This will ensure that you only show up at auctions in which there is something available that you wish to purchase.

As with almost anything, the best place to look for information concerning government auctions is on the Internet.

The U.S. Treasury site is a fantastic place to start, but there are many other sites on which you can find auction information.

Browse through the listings and look at the government websites and find out the relevant information, like where they are and what their procedures are.

However, before you go to any government auction it is important that you know exactly what you are looking for and what your budget is. It can be easy to get caught up in the moment at an auction, and you can go over your budget on something that you are not even all that interested in, just for the thrill of winning.

As with any auction, there is often a very strong and energetic atmosphere around the bidding. Auctioneers know this, and they will try to play on this if they sense any sort of weakness on your behalf. It is the auctioneer’s job to SELL the item that is up for sale, and you need to be mindful of this before you even enter the auction.

Having a clear idea of what you want and a very strict budget will ensure that you don’t go over the top.

Government auctions can be a fantastic way to save money on the things you want or need. Attend one today and find out for yourself just how much you can save!