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Finding Good Deals at Government Auctions

 


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In 2000 the total sales of Amazon.com is about 2.8 billion, quite an impressive number but not good enough. They ended up in second place behind, believe it or not, the US government. According to the Federal Computer Week magazine, the US government raked in a total of 3.6 billion dollars. Just imagine the vast inventory the US government carries to be able to create this kind of sales. They could be considered as a “Wal-Mart" of auction houses. Indeed they carry diverse kind of items from treasury bonds, to luxury houses, and even thoroughbred horses. Just name it and they probably have it. Besides, buying with government could be a joy to bargain hunters. They usually sell out items to dispose of inventory and not to make a profit. Also looking at it at another perspective, it could potentially save taxpayers money because you are putting in money to the government coffers.

You have to be cautious when joining these auctions. As there are many auction sites propagating everywhere you need to make sure you are prepared when plunging into it. These simple tips will definitely help you go through your auction experience.

As in any auction please put in mind that items on sale there is on a “as is where is" basis. Simply put what you see there is what you get, no more and no less. When buying auctioned vehicles test drive is usually not allowed. What you could only do is crank the engine and hear it idle. So it is prudent that you do a thorough scan of the car inside and out. Check for wear and tear in the dashboards and also check the paint job if it's still original or already repaired. This could spell the difference between a lemon and a good deal.

Expect a lot of people attending these auctions so you should not get too excited. Only place a bid on items that you previously planned to get. It is easy to get carried away once all these items are being paraded in front of you.

Don't forget to check the legitimacy of the auctioneer. Better check on what branch of government it represents. If they generically point out that they represent the government without providing any detail, then you should be aware or even stay away.

Also do attend previews of auction as much as possible. Auctioneers usually set preview events days before the auction. It's better to scout the items that you would want to buy. This saves you time during the auction and could also determine the best buy for you.

If you are a first-timer buyer in auctions, its better that you do a little scouting before fully diving in. Observe how they do things and the process of bidding. Also check out items that people really want and items that they shun away. This is a very good way to get a feel of things so that you could actually do it better in the next auction schedule.

Lastly it is better to double check if the item you like does not have any liens or back-taxes associated with it. If left uncheck this could cause you more in the long run.

You can search and bid on different types of government auctions online such as seized vehicles and personal properties. Read our review of the top government auctions website online.

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