How to Buy at a Government Auction
Government auctions include goods that have been seized by the Department of Treasury and Homeland Security. To place a bid, you must be at least 18 years old. Placing a bid is considered a binding contract. If for some reason you find you cannot make the payments on your winning bid, you are still obligated to pay for them. Government employees and those whom the items being auctioned off were seized from may not bid.
Other People Are Reading
Instructions
-
-
1
Locate a government auction in your, or near, your area by calling the Public Auction Line at 1-703-272-7373, between the hours of 8:00 am and 5:00 pm Eastern Time. Customer service representatives are available Monday through Friday. According to CWS Marketing Group, there are more than 100 government auctions held each year throughout the United States and Puerto Rico.
-
2
Review the items being auctioned on the Department of Treasury's website or an affiliated auction's website. Approved auction sites include CWS Marketing Group and Bid4Assets.com. Read the terms of service to determine how much of a deposit you must pay if you win a bid. Payment options and plans are also included in the terms of service.
-
-
3
Submit a bidder registration form if you will be bidding in person at an auction. These forms are available at the auction site or can be downloaded from the U.S. Department of Treasury website. If you are bidding on government seized items online, fill out a registration form with the auctioning company's website. A picture I.D. is required at the time of registration. Registration is free and once completed you will get a bidding number, which you hold whenever you place a bid.
-
4
Bid on auctioned items. Bidding can be in person, online or with a written bid that is submitted by mail and received at least one day before the auction date. A cashier's check for the item being bidden on must accompany the written bid form.
-
5
Pay the deposit if you win the auctioned item. Cash, cashier's check and all major credit cards are acceptable forms of payment for general merchandise. Pay by cashier's check for property. Deposits and payment schedules are determined by the terms of the sale and vary by auction.
-
1
