Chances are you've heard of people 'making a killing' at auctions. Many stories do the rounds of relatively inexperienced entrepreneurs striking it lucky by buying goods and property at a massive discount to it's true market value and selling it off with a tidy profit.
The truth of the matter is that these opportunities are available to all, and not just an elite few. This is especially true for Government and police auctions held across the country. Many commercial auctions only allow registered car dealers to participate, effectively cutting normal folks out of the loop. This is generally not the case at government auctions.
So how does all of this come about?
The government are very similar to large organizations in that they own vehicles, real estate and other goods such as computers, telephones, furniture, etc. Daily, counties, cities, states and the federal government dispose of goods they have little or no use for any longer. These are known as surplus goods.
Also, the police and various government agencies seize goods from citizens and corporation that broke the law. All of these activities give rise to a multitude of government and police auctions.
Don't be led into thinking that these goods are run down, worthless property only good for the dumpster. More often than not you'll find goods and vehicles barely used and still in superior condition. This makes it therefore a viable alternative when looking for furniture for your office, your next vehicle, etc.
Being successful at government and police auctions really doesn't require some special magical powers. The ingredients to success consist of persistence & a good strategy.
Persistence
There are auctions happening in your area daily. If you want to find the big bargains you need to attend as many as possible as often as possible.
Strategy
From a strategy perspective, you can only do well if you shortlist items your interested in, calculate a fair market value and stop bidding if it reaches that price. I know it sounds logical, but many people forget the basics.
Follow these overarching principles and you'll end up saving thousands of dollars on quality goods at auctions.
Jake W Johnson is a specialist on government and police auctions. He regularly writes on issues relating to auction techniques and strategy. Read more on auctions and profitable government auction sites.
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