Government Auctions: How to Find What You Really Need

Government Auctions: A Powerful Tool To Get What You Need

( – If you’ve struggled with finances in the past, wealth acquisition and finding ways to get not only the assets you need, but the things you want, can be challenging. Fortunately, there’s a shortcut: government auctions. Through government auctions, you’ll embrace more bargaining power and will likely have an entertaining experience as well. You can find some valuable items at government auctions, including vehicles, jewelry, furniture, art, boats, real estate, antiques, memorabilia and collectibles, airplanes, lab equipment, industrial equipment, and even real estate.

The government sells these items for a variety of reasons, but primarily, they’re getting rid of items they no longer need (such as used office equipment when locations consolidate), property seized from treasury law violations, and property or items seized from criminals. For the most part, the government doesn’t need excess items or property, but they do make use of liquid cash. This can benefit you.

How Do You Access Government Auctions?

The only trick to accessing these auctions is knowing what sales to keep your eye on. Multiple government agencies conduct auctions live — in-person and/or online. Through auctions, many struggling Americans have been able to acquire something they might not have otherwise been able to find or afford. Let’s take a look at the three main government agencies involved in providing government auctions, and the tips for accessing each agency’s auctions.

General Services Administration (GSA)

The GSA lists items for auction on the GSA website. The entire sales process for GSA auctions happens online, but you can go to the auction site ahead of time to inspect any merchandise in person. Make sure you check payment terms, acceptable payment forms, and the location of the item(s) before you place the bid, as you’ll typically have to collect you item yourself or have your agent do so.

The GSA is known for auctioning vehicles in good shape. Additionally, they tend to list construction equipment, property, boats, furniture, airplanes, science equipment, and industrial equipment. Should you need to view the items before making a bid, you can visit them at the appropriate location. This is your best bet if you’d like to get a truck, car, van, or alternative fuel vehicle.

United States Treasury

Those who violate treasury laws are forced to forfeit their property. These items go up for sale via Treasury auctions — they list over 300 in the United States and Puerto Rico annually. They generally offer items such as real estate, jewelry, boats, new and used cars, and industrial equipment. They auction items online, at live auctions, and via live or mail-in Internal Revenue Service (IRS) auctions.

U.S. Marshals Service

The U.S. Marshal Service also puts on auctions via the U.S. Department of Justice’s Asset Forfeiture Program. Any property that is seized from criminal activity may go up for sale this way. You’ll typically find boats, planes, art, real estate, collectibles, memorabilia, and antiques at a U.S. Marshals Service Auction. You’re likely to find items from commercial businesses here, too. The U.S. Marshals service hires third-party services to conduct their auctions and they’re usually online, but each of these third-party services has different rules and regulations, so be sure to read carefully about their bidding processes.

Sometimes it’s hard to dream about all the things you wish you could afford to buy — or maybe you’re just great at knowing the value for items, and you’re looking for a way to turn a profit. Whether you need that special authentic ring, an antique piece of art, or a like-new vehicle, government auctions can help you reach your goal and get something you’ve previously only dreamed about.

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