Government Car Auction
by Ken Sharp
About every month or so the federal government collects 1000s of seized cars,atv’s,buses,dirt bikes,trucks,motorcycles,campers,vans, and even airplanes!
Where do they get all these vehicles from? Are they crashed cars? Are they repossessed government cars? Many federal, state and local law enforcement agencies seize these vehicles from criminal activity. They have thousands upon thousands of vehicles on hand and need room so they offer auctions to interested people.
Some of these auctions will start their bidding at $100 or less!
Financial lending institutions such as banks repossess many houses and businesses from people who don’t keep up with their payments. They too place these items up for auction.
Anyone can get into one these auctions and purchase the house or vehicle of their dreams.
Where do you hit upon government auctions? Usually federal government auctions are held locally or at the national level and they are mostly held in the same places all the time. You can explore through your local newspaper and maybe come across an auction in your area. They are usually held on the same dates every year, so finding one in your newspaper might be time consuming.
A angle thats undoubtedly worth mentioning is the easy fact that you should always do your homework before going to the free government police auction, especially one that involves either houses, personal property or automobiles. Find out the value and history of the item you want to bid on then decide if its worth going to the auction.
Tip: Don’t get caught up in a government police car auction frenzy! Don’t over bid. Thats why doing your homework is so important before you visit. You will need to pay for the item after the auction. Everything you get from these government seized auctions will most certainly be used, so don’t get suckered in to a bidding frenzy.
To find these auctions you may have to check out a national newspaper or ask the federal, state, or local agencies when and where they will be having their next impound car and property auction. Check with your local banks when their next auction will be. Most banks have branches all over the country.
There are also some online government auctions and bank agency auctions. These will charge a small fee, on average around $50.00. But they do all the work for you, which is a big time saver.
If you are new to auction, you may want to do extensive homework on this topic as well. Here are some guidelines for your police car auctions. For a more in depth look into auctions you should do some homework at your local library or the internet.
Yankee Auctions: an auction where as the seller will list many of the same items. The winning bidders will pay their highest bid.
Reserved Auctions: seller will set a reserve price for the goods offered. If the bidders don’t achieve this price, the seller can refuse to sell the item. The seller has a choice on whether to disclose the price of the item or not.
Private Auctions: Bidders not required to give their identities.
Proxy Bidding Auctions: Proxy bidding is where the seller sets the peak price that they are willing to forfeit. Their bid is increased in increments until either they have won the auction, the auction price exceeded their highest bid, or someone else won the auction.
On Site Auction: These type of auctions are held by companies who have items that are much too large or costly to ship to an auction house. The bidders will have to go to the place of business for this type of auction.
Hammer Price Auctions: This is a type of auction that stops when the auctioneer decides that the price has been finalized.
Dutch Auctions: auction where the seller auctions the same kind of items. The winning bidders of this type of auction only has to pay the lowest price that was bid on.
Appraisal: An appraisal is when an appraiser or auctioneer has looked over the item(s) and decided on the price from the condition of the item and from the knowledge and research the auctioneer has performed on that type of item.
American Auction: This is an auction where the seller submits many items for the same price. The winning bidder is someone who gives the highest bid for the most items.
Absolute Auction: This is an auction where the seller submits an item and a reserve price is not placed on it.
Sealed Bid Auctions: These auctions are done with the paramount secrecy. The bidders acquiesce thier bids by placing them in envelopes that are opened at a specific time and place of the auction.
Absentee Bids: These auctions are held for people who are unable to attend the auction in person. They merely submit their bids, or have someone else do it for them.
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