Wednesday, April 25, 2012

Going Crazy for Government Auctions

U.S. government auctions have slowly emerged as a front-runner for aftermarket purchases. Not only are these auctions available in any state, but most counties also have live or online auctions throughout the year. These government auctions have either seized or surplus assets available to bid on. Anyone can bid on these auctions; they are open to the public. This article will give you a better understanding of what exactly these types of auctions are, what you can potentially acquire, and what to do before an auction.
What is the difference between seized and surplus?
· Seized government auctions in the United States typically happen due to certain situations-tax problems, criminally owned items, and smuggled assets through customs are the predominant ways that the government obtains these items. This happens in every state and in many counties. After that specific government entity--be it local, state, or federal--has control of these assets, it then holds live or online auctions.
· Surplus government auctions are in essence an outlet for a government entity to sell items that they don't have any use for. These items can range from goods to automobiles to properties. A surplus auction is a great opportunity for the public to bid on items that they might need or want to sell, that the government has an excess of.
Why are people getting such great deals at these auctions?
The main reason that people get fantastic discounted assets is because the government doesn't have a scheme behind these auctions. They don't have places to store them; nor do they want to keep them if they did have a place. You are getting great deals due to the fact that the government doesn't care how much they actual make per auction. All it wants to do is sell and remove these items from their premises. Don't underestimate the amount of money you can save.
What items are at these auctions?
At government auctions held in the United States, you can find an array of items--some which are ordinary auction items, while others are very obscure. You never know what people are interested in. Here are some items typically found at a government auction:
· Cars
· Trailers
· Jewelry
· Electronics
· Foreclosed property
· Coins

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