Next up is a government auction we don’t come across very often. Currently up for bid is one lot consisting of 48 bales of hay that are around three years old and consist of a mixture of brome and timothy grasses. These bales have been certified weed-free and have been stored as a single layer on the ground. These bales are described to be free of mold or rot, and still green on the inside. The hay is located at Stephens Creek Barn in Yellowstone National Park. Those interested in bidding are encouraged to inspect the hay prior to casting their bids. Round bales, such as these, are a bit harder to handle than their square counterparts since they cannot be stacked quite as easily, but they compress the hay more tightly and are more moisture resistant. These types of bales typically weight 660-880 lbs, so the winner of this auction will be walking away, or rather driving away, with over 30,000 pounds of hay. Hay bales of this size typically sell for around $34 per large round bale, so this entire lot could be worth over $1,600. There is currently just one bid of $50 for the entire lot. This online auction will be ending in exactly 4 days 18 hours and 3 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
Yearly Archives: 2014
GSA Auctions: What They Are and What is Sold at Them
If you’ve been following along in our blog series on government agencies that conduct auctions, you’ve probably noticed that the two agencies we’ve covered thus far; the US Customs Service and the US Marshals Service, mostly deal with seized property. Both can be great places to find items at a discount, which you can either resell for profit or keep for yourself. However, in this blog post, we will be discussing the primary agency that is responsible for liquidating government surplus assets: the General Services Administration (GSA). Over the years, we’ve noticed that some of the best deals can be found at government surplus auctions, where you can buy things like cars, boats, planes, trailers, computers, furniture and anything else you can imagine. Keep reading to learn more about how GSA auctions.
What is the General Services Administration (G.S.A)?
You can think of the GSA as a business that the U.S. government owns and operates. The GSA was established in 1949 to help support the basic functioning of federal agencies. The GSA buys most of the products and communications required to run U.S. government offices. Additionally, it provides transportation and office space to federal employees, and manages other tasks. The GSA employs about 12,000 federal workers and has an annual operating budget of more than $26 billion. However, this pales in comparison to the amount of money that the GSA oversees that is spent on buying stuff for the US government. To put things in perspective, the Federal Government has motor vehicle fleet of around 210,000 vehicles. The GSA also manages real estate assets for the government, which it periodically auctions off to the public. This is why you will often see real estate auctions comprised of old Social Security Administration buildings and other real estate assets. From time to time, you will even see small islands and other unusual properties being auctioned off.
However, when it comes to auctioning things off, the GSA does not operate for profit. Its job is to dispose of millions of dollars of government assets, and for the most part, it is willing to accept whatever amount it can get for those assets through an auction.
Where does the agency get stuff it auctions off?
All of the items sold by the G.S.A were purchased with federal tax dollars; that is, with your money. It takes a lot to operate a government as vast and powerful as that of the United States. In order to function, the government needs everything ordinary citizens would need: cars to transport government officials and serve as security; computers and furniture to fill its offices; boats to patrol the seas; scientific and industrial equipment used in laboratories and various agencies; and much more. When the government decides to upgrade its fleet of vehicles or computers, or even close an entire department due to budget cuts, it auctions off these assets to the public.
What you need to know?
- Since the assets sold at these auctions are surplus, most are in fair to poor condition, as is to be expected. Some of the assets may be damaged and able to be repaired, while others will be beyond repair and sold for scrap. From time to time, you might be able to find items that are in excellent condition, too. Keep in mind that items need not be in excellent condition for you to be able to make a profit from them. If you could acquire a bulk lot of 20 computer monitors for $5 a piece, you probably wouldn’t be too upset it some of them end up not working or needing repairs, because you could turn around and sell the monitors that do work for $25-$50 each and still make a tidy profit.
- These auction items are sold “as is”, and is not warranted in any way. You should take this into consideration when setting your maximum bids and adjust them accordingly. Sometimes you can set up an inspection date and examine the items before bidding. Doing so can great reduce your risk of loss and make for a much more pleasant experience.
- Payment must be made in cash (up to $10,000), bank cashier’s check, U.S. Postal Service or commercial money order, or personal or company checks that are accompanied by a bank letter of guarantee. Items must be paid for within 2 business days of you winning the auction and removed within 10 business days of winning the auction, or you may be placed in default status.
Start looking for surplus stuff by activating your free trial account right now!
Lot of (168) 40MM Ammo Cans: Alot More Useful Than You Might Think
The government frequently auctions off huge lots of military ammo cans and there are always people willing and ready to buy these hunks of metal up for various purposes. Some people probably buy them for scrap metal, but others have come up with some creative and unique ways to put these things to good use. Some of the features that make these military ammo cans so useful and versatile is that they come in a variety of shapes and sizes, are waterproof, and air tight. They’re also really easy to carry and stack, so transporting them between locations is not a problem. You can easily use ammo cans to store tools, coins, and anything else you can imagine. More than that, with some work, you can re-purpose them to serve as shelves, a first-aid kit, or even a radio. This auction is for one lot of 168 40 mm ammo cans. There are currently 5 bidders with the highest bid at $875. That’s just over $5 a can. If you want to get rid of a few cases people will be happy to buy these ammo cans from you on eBay or Craigslist. This online auction will be ending in exactly 3 days 2 hours and 55 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
US Customs Auctions: How They Work and What They Sell
In our last blog post we began our discussion of the various government agencies and their functions by talking about one of the oldest, but perhaps least well know agency, The United States Marshals Service. Now we will continue our discussion of government agencies and how you can profit from them. Here we will be focusing on the United States Customs Service.
What is the U.S. Customs Service?
The U.S. Customs Service exists to make sure that anything entering the United States is legal and that any import, levy or tariff that is due is paid. This government agency basically serves as the gatekeeper for all goods entering the United States. There are hundreds of trade and import restrictions and laws on the books, and it is this agencies’ duty to make sure those laws are followed. The U.S. Customs Service has the power to seize assets and arrest any individuals who violate the law. Working closely with other agencies, Customs seizes billions of dollars worth of assets every year.
Where does the agency get stuff it auctions off?
A surprising number of people try to smuggle things into the United States. When most people think of smuggling, they think of someone going through the airport with an illegal substance in their luggage. However, a large percentage of smuggling occurs when goods are transported in shipping containers overseas. Others, who are not attempting to smuggle, either cannot afford to pay the import duties on things they are trying to bring into the country or just forget and leave stuff at the port. Either way, the seized assets, including electronics, tobacco, food, large machinery, and anything else you can imagine, are sold off to the public through auctions.
A lot of the assets seized by customs come from drug trafficking, which is why they have a large inventory of cars, trucks, boats, and planes. You can find some excellent deals on these types of assets at customs auctions, because the inventory is plentiful.
What you need to know?
- At customs auctions, cash, certified checks, and major credit cards are usually accepted.
- Customs requires that some assets be sold only for export. That means that if you are the winning bidder, you must immediately have a way to export the asset out of the country, otherwise you will forfeit the asset.
- Some of the cars and boats that you will find at these auctions have all sorts of hidden compartments that were used to smuggle drugs and other illicit materials. When these assets are sold the hidden compartments have to be dismantled or destroyed at the buyers expense. The changes must be made before you can get a clear title, and there is usually a time requirement for completion. Keep this in mind when bidding, because alterations came take some time to make.
Look out for our future blog posts where we will be discussing one of the largest sources of surplus property from the U.S. government, the General Services Administration (G.S.A).
Start checking out United States Customs and other auctions by activating your free trial account right now!
Combat Sports Heavy Bag: Get Mad!
Next up for auction are 3 Combat Sports heavy bags. These heavy bags are in good condition and would be a good addition to any professional or home gym. There is currently just one bidder who is offering $5 for the entire lot. These banana bags typically retail for around $100 each, so the winner of this auction could walk away with a real steal. This online auction will be ending in exactly 5 hours and 0 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
U.S. Marshals Auction: What it is and How it Works
We often receive inquiries from customers about who exactly is selling all this “stuff” they see on our website. We’re going to address that question in detail in a six-part blog series about the various government agencies that dispose of sized and surplus assets. You will learn about what each agency does, where and how it gets its assets, and of course how to acquire those assets for yourself. Let’s dive right in and begin our discussion with The United States Marshals Service.
The United States Marshals Service (USMS) is on of the oldest law enforcement agencies in America. You can think of them as the police department for the Federal Government. The agency has grown considerably in size and scope since it was founded in 1789. In addition to apprehending federal fugitives, housing and transporting federal prisoners, and operating the Witness Security Program, the agency also happens to be responsible for managing and selling seized assets acquired by criminals through illegal activities.
The Marshals Service manages various types of assets, including real estate, commercial businesses, cash, financial instruments, vehicles, jewelry, art, antiques, collectibles, vessels and aircraft. It obtains these assets from various Federal agencies, including the Drug Enforcement Agency (DEA), the Federal Bureau of Investigation (FBI), the Alcohol, Tobacco and Firearms (ATF), and the Internal Revenue Service (IRS). Some of these agencies can seize and sell assets on their own, but typically they will turn them over to the United States Marhsals Service. According to the USMS, the value of the assets they had on hand as of Sept 2013 was around $2 billion. Wow that’s a lot of stuff!
Things you can get at U.S. Marshals Auctions
Cars: It’s no surprise that a large percentage of the assets the USMS handles are cars. Like a mouse to a delicious piece of cheese, criminals seem to be drawn to fancy, new cars even though it could eventually be what takes them down. The types of vehicles you will see here run the gamut from old and rundown to expensive luxury vehicles. The vehicles are sold “AS IS” so it would be wise to take that into account when placing your bids. Set your bid limit at a significant discount to what the market value really is for that vehicle. The good news is that the cars come with a “free and clear” Federal title, so you should have no problems registering with the DMV.
Boats: You definitely won’t see boats as often as you will see cars, but from time to time they do come up. We suggest bringing a mechanic with you, because many times these boats sit for a while before they are sold, and will have some mechanical problems as a result.
Planes: The USMS isn’t the best place to look for airplanes. We will suggest some good alternatives in an upcoming blog post.
Jewelry: If you’re looking for jewelry you’ve come to the right place. The USMS get’s tons of jewelry from the same place it gets its seized cars; criminals and lawbreakers. The jewelry is sold by weight, and you can often get a significant discount from the appraised value. Bringing someone who knows how to value jewelry may help somewhat, but the degree of inspection allowed is quite limited, so you will mostly be relying on the auctioneer’s description.
Miscellaneous Items: In addition to the specific items we discussed above, the USMS has a lot of general items lying around that don’t fit neatly into these categories. When someone’s property is seized, they typically lose EVERYTHING. This includes whatever they have in the house like computers, ipads, cell phones, art, rugs, and anything else you can think of.
What You Need to Know
1. You must be 18 years old to bid
2.You will be required to sign an affidavit, if you are the winning bidder, that you are not acting on behalf of the defendant. Additionally, United States Department of Justice employees and their immediate family members may be prohibited from purchasing or using assets forfeited to the United States government.
3. The winning bidder must sign a Forfeited Property Sales Certification form and make payment within 2 days of winning the auction. Acceptable payment terms vary from one auctioneer to another, but most accept cash, cashiers check, wire transfer, and some take credit cards, too.
In the weeks ahead, we’ll be exploring other government agencies such as the General Services Administration (G.S.A) and United States Customs Service.
Start looking for stuff from the United States Marshals Service by activating your free trial account right now!
2008 Dodge Viper: Unleash The Beast
The Dodge Viper is a special kind of car. Most people looking for a fast car will opt for a Porsche or a Lamborghini. But there’s a select group of people that want something that is more rare and pure than either of those to super cars. They want a car that stands out a bit more than a Porsche, but perhaps not as expensive as a Lamborghini or Ferrari. Enter the Dodge Viper: A car that is all about raw power and acceleration, with a modest sub $100-k price tag. In just 14 days a lucky bidder will get the chance to ride off into the sunset in this 2008 Dodge Viper, which is currently being auctioned off by the federal government. This Viper SRT-10 has just 14k miles on the odometer and packs an 8.4 L V-10 engine capable of delivering 600 hp and a top speed of 200-mph, although we don’t recommend going that fast. Addition features include bucket leather seats, hard-top roof, AM/FM radio, CD player, alarm system, and more. The vehicle is described to be in good overall condition, although some minor maintenance may be required. Additionally, those interested in bidding for this vehicle are required to make a bid deposit which will be held until the completion of the auction. The winner of the auction will have his or her bid deposit applied to the final price of the vehicle, while everyone else’s bid deposit will be returned to them. This online auction will be ending in exactly 14 days 21 hours and 30 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
2009 Frontier Trailer: Fixer Upper
Next up on the auction block is a 2009 Frontier Trailer. This is a roomy and comfortable trailer that can be used in a variety of ways. This trailer will need some repairs and maintenance before it can be used again, starting with a set of new tires, one window needs to be replaced, and the floor needs to be replaced. For someone who knows how to do the work themselves or inexpensively, this could be a great deal. There are currently two bidders with the highest bid at just $1,665. This online auction will be ending in exactly 5 days 6 hour and 0 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
Fire Extinguishers (Lot of 50): Load Up The Truck
Next up on the auction block is this lot of 50 fire extinguishers. These fire extinguishers are loaded with 20 lbs of purple k dry chemical, and mounting brackets are included. The approximate dimensions are 10″ long by 9″ wide by 28″ high and weighing appx 45lbs. These fire extinguishers retail for over $100 each, so the winner of this auction could walk away with a real bargain. There are currently just 5 bidders with the highest bid at $606. This online auction will be ending in exactly 1 days 1 hour and 0 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
2005 Maserati Cambiocorsa: Go On An adventure
Looking for a new toy that is sure to put a smile on your face? Look no further, because in just a couple days the Federal government will be auctioning off this gorgeous 2005 Maserati Cambiocorsa to the highest bidder. When this exotic car was made by the Italian car manufacturer back in 2005 it sold for just under $100,000, which made it an entry-level super car. However, Maserati didn’t skimp on the looks or the design of this beautiful vehicle, which exemplifies everything you would expect from an exotic car, from the smooth flawless curves to the luxurious hand-crafted interior. The car is equipped with a 4.2L 8 cylinder engine that puts out 385hp. There are 69k miles on the odometer. The car does require some maintenance, like a new set of tires and a new battery, but the winning bidder could still walk away with a great deal on this auction. This online auction will be ending in exactly 2 days 1 hour and 30 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!
