Types Of Government Auctions
With that in mind, it is easy to understand that government auctions come in many types. Each of which differ in the manner of how the government obtained the items or the properties and the manner of disposal the government uses to sold off the properties to the public while getting a profit in return.
Here are some of the types of government auctions:
Government Surplus Auctions
Also known as the GSA Auctions, is the type where the Government sells everything that it no longer needs. Thus you can find anything and everything being sold here. Typically, the items here are second hand but they are, in most cases, top caliber and buyers can get them at excessively low prices. The government does not aim to make profit on such things; it only wants to get rid of them.
Common items found in GSA auctions are automobiles, jewelry and office equipment. However, surplus buildings, real estate and properties are also sold here.
Many people doubt though whether they should buy too-good-to-be-true items in such auctions. But as they say, to see is to believe. But there is no doubt that most of these things are authentic.
Seized Property Auctions
Mostly selling confiscated properties, seized property auctions sell properties and items that were foreclosed by the government or taken from the original owners due to tax, financial and other related issues. However, seized properties may also come from confiscations from illegal activities like drug dealing or smuggling.
Seized property auctions could also stem from tax seizures. A house, for example, could be seized by the government if the owner fails to pay his taxes, mortgages and bills. This could extend to other properties like clothing, cars, and real estate.
Custom seizure auction, another type of seized properties auction, sells goods that could come from: a) smugglers, b) people who were not able to present enough and detailed information of the merchandise, and c) people who came from other countries bringing along with them unauthorized merchandise.
Buying from government auctions offers you some of the best pieces of items at a very (very) low price. If you want to find the best deals, try to research the schedules of government auctions.