Federal Auto Auction

Purchasing surplus property at government auctions has been done for years. Many Americans have built their wealth by purchasing and reselling government surplus and land year after year. Instead of purchasing goods at retail or even wholesale prices from companies or ordinary stores, why not go to a government surplus property auction and possibly pick up the same piece of merchandise for a small fraction of the price?

Government auctions, especially surplus auctions, have proven to be an essential resource for individuals looking to acquire goods for pennies on the dollar for their business, and the great thing is, anybody can go to them. You don’t have to work for the government and you don’t need to know anybody to gain special privileges in order to attend the auction.

Now that know just how beneficial government surplus auctions can be, let me tell you what a surplus auction really is. Any property the government does not need is considered “surplus.” And if the property cannot be donated to a state or public agency or nonprofit organization, it ends up being sold to the general public. Federal government agencies such as GSA oversee the sale of federal surplus property to civilians. GSA is the federal government’s procurement agent. They purchase the supplies, equipment and vehicles that federal workers need to do their jobs. When items are no longer needed by the federal government, they stretch our tax dollars by offering them for sale to the public. Their auctions include a wide variety of items for sale to the public that would interest both individuals and businesses. Aside from GSA there are many other federal and state government agencies and departments that also sell surplus property — state DOT department, and many others.

You might be asking yourself what types of items you could possibly find at a surplus property auction. The answer is simple: almost anything you can think of! Items generally range from automobiles and other vehicles to tools, industrial machinery, or office equipment. The list goes on and on which is why everyone needs to check out these surplus property auctions now. There is even surplus land, buildings, and other real estate.

Since automobiles are a very popular surplus item I thought I’d tell you a little more about the process of how they are acquired and sold. Most of the surplus vehicles GSA purchases are new and driven by government or state agency employees for official purposes. They are sold when they reach replacement age and/or mileage limitations. Used government vehicles are one of the best buys in the marketplace today. The vehicles are well maintained, have relatively low age and mileage and have desired features like automatic transmission, air conditioning, power steering, and power brakes. They also come in attractive body styles and a variety of colors.

There are a number of websites out there that provide information and even services that allow you to bid and purchase surplus and confiscated items via the internet. Each participating agency has its own auction rules and regulations and may be subject to state and local ordinances. Some items are sold online by auction or fixed price and others are available by public auction or sealed bid. Buying new, seized, surplus merchandise and real estate from the government has never been so easy! Resources like GovernmentAuctions.org® provide some of the most comprehensive information on these surplus property auctions. Take a look at their site and see what I mean.

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A federal auto auction is a great source of used government cars and legally seized vehicles. The used cars tend to be just two or three years old and you can get up to 95% off the current market value of these cars at auction. As you can imagine vehicles that have been legally seized can range from the ordinary to the luxury end of the market. You may find at some government auctions that other goods ranging from property and boats to jewelry and unclaimed cash are also auctioned. You can get a really good used car at a price that is much lower than you would expect if you know how to approach this type of car sale.

Firstly, you will need to know where the auctions are being held. This information can occasionally be found in local newspapers but they are not widely advertised to the public, even though members of the public are welcome to attend. There are online services that provide you with comprehensive auction listings in your area.

I would advise you to be prepared. Remember professional buyers get what they want at the lowest possible price. If you go in blind you will be distracted by all the shiny things you see and you may not achieve your goals. Get a list of the vehicles up for sale and make a shortlist of the ones you are interested in. Check out the market prices and if possible run a vehicle check so that you know the full history of the car.

If you are interested in a seized vehicle and like me, you are not familiar with the inner workings of a car, it is often worthwhile asking a friend or someone knowledgeable about cars to attend the auction with you. They can make sure everything is in order with the vehicle. However, if you are thinking of buying a government used car then you will usually find that they come with stamped log books and a full service history.

You will find some really great bargains at a federal auto auction, particularly if you choose one that is not busy with attendees. Bids usually start at as low as $100. In order to get the inside scoop on all the auctions in your area, so that you have the best advantage at the auction and pay the lowest price possible, I would suggest that you look at an online service that provides comprehensive listings. These services often provide additional information that can really help you secure your car at the very lowest price.

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Each year approximately 300 government auto auctions are conducted throughout the United States and Puerto Rico. Government seized and surplus autos and other vehicles are sold by internet auctions, live auctions, sealed bid auctions, negotiated price, fixed price and drop-by sales. Accepted forms of payment include cash, credit card, cashier’s check, or money order. Anyone who is a licensed driver and at least 18 years of age is eligible to bid at government car auctions. Registration to participate in any Government Vehicle Auctions is free.

On October 26, 2005 in Del Rio, Texas a government seized 2000 Mitsubishi Galant was sold at a government auto auction for $900. A 2001 Ford E-350 van was sold at a government auto auction for $1,800 on October 8, 2005 in Laredo, TX. A bidder at a government auto auction in Nogales, Arizona picked up a 2005 Chevy Astro with less than 21,000 miles for $4,000 on November 10, 2005.

The U.S. Government General Services Administration will auction approximately 35,000 surplus cars and trucks this coming year. GSA Fleet auctions surplus cars, trucks and other vehicles with low mileage and only one previous owner. The public can acquire well maintained Federal government vehicles at significant savings. These vehicles have been well maintained. Vehicles are carefully detailed before auction and come loaded with most options consumers typically prefer.

The U.S. Marshals Service offers cars and other vehicles for auction to the public which have been seized by federal law enforcement agencies. More than 14,000 items of seized cars and property are sold annually with gross sales of $200 million. Revenues are used for law enforcement activities and for restitution to victims of fraud.

Government auto auctions are quite different from traditional used car sales. If you know how to bid to buy, you could drive away with a steal of a deal.

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Why settle for a second-hand sedan when you can buy a used sports or luxury car for the same price? I am not pulling your leg. It is really possible for you to buy your dream vehicle at low prices.

Just attend federal auto auctions and you will see for yourself that acquiring luxury vehicles at rock bottom prices is possible.

1. Federal Auto Auctions Unveiled

Federal auto auctions are basically public sale of vehicles that are sponsored by national or local government agencies. The vehicles sold in such auctions are usually forfeited, confiscated, or repossessed by various government organizations. Surplus vehicles that are previously owned by Federal agencies and its employees are also sold in these venues.

Government-seized cars are vehicles that Federal government units have forfeited or confiscated from criminals. These automobiles are either used by bad elements in illegal activities or are properties that they own. On the other hand, surplus vehicles are usually retired government vehicles.

Federal auto auctions are regularly held across the country. You can even buy vehicles in government-sponsored auctions over the Internet. Check classified ads and the papers for announcements and lists of government-sponsored car auctions.

2. Advantages of Federal Auto Auctions

The main benefit that we can get from buying cars from federal auto auctions is the low price. However, it is important for you to understand that this is an auction and there is a slight probability that prices of items sold here can go up.

The price would really depend on the number of people who are will to jostle or compete for certain items. So be wise in bidding so you can get the best deals.

You can get your supply of cars for your buy-and-sell car business from federal auto auctions. I have some friends who are making lots of money from reselling the items, particularly automobiles, which they have bought cheaply at federal auto auctions.

One problem that many encounter in buying second-hand vehicles is paperwork. Sometimes, the discount that you got from buying used cars is offset by the money you need to spend for car registration and other important documentation.

If you buy from federal auto auctions, however, you are ensured that the pertinent documents needed for the registration and transfer of ownership of the vehicle are complete.

3. Important reminders

Do your homework first before attending federal auto auctions. You should know the resale value of the model or type of car you intend to buy. Instead of saving money, some people end up paying more than the market value of the car that they bought because of lack of knowledge.

Always keep in mind that auction in Latin means to increase progressively or gradually. Start your bid low and slowly bring it up if you have competition. Tendering a high bid at the start usually sparks a bidding fever that pushes the price of the car at very high levels.

Lastly, you should check the cars you are interested in buying at federal auto auctions, or any auto auction for that matter, before even tendering a bid.

Attend pre-bid inspection events so you can check the cars inside and out. Bring along a mechanic or a friend who is familiar with engines and market value of used cars. They can help you decide whether the cars you are interested in bidding for are worth it.

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