How to Access Government Auctions
Government auctions are an excellent way to purchase cars, real estate and luxury items at a price below market value. Even at high-profile auctions such as the liquidation sale of Bernie Madoff's estate, certain lots sell way below expectations. The main problem with government auctions is finding them. Auctions are conducted on federal, state, or local levels and there is no official central information depository to keep track of when and where they occur. Fortunately, a few phone calls and a little Internet research will go a long way in helping you to access government auctions.
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Instructions
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Consult the USA.gov website about government auctions in your area. The website is run by the federal government and is absolutely free. (See the Resource section for the link.)
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Ask your local and state government agencies whether they hold auctions. If so, find out when and where they are held. Most law enforcement agencies hold monthly or yearly auctions to sell off confiscated property, so that may be a good place to start. Also, state and federal law often requires public announcements of government auctions in newspapers. These announcements usually appear on a specific day every week or month, so try to find out the particular day in your area.
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Since many government auction websites specialize in the sale of particular items, browse their listings in search of a specific product you would like to buy. For example, if you want to buy a used automobile, check out the GSA Fleet Vehicle Sales website which gives national listings for car auctions (see Reference section for link). Or, if you would like to buy a luxury speedboat with black velvet interiors, the DEA auction may have what you need.
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If you don't have time or motivation do all the legwork, use an online auction directory. The website usually will charge a one-time fee for access to its listings, but it will cost far less than the potential money you can save when buying products at government auctions. Bear in mind that many of these websites will only provide the addresses, times, and locations of government auctions. You will need to make your own inquiries about the actual products to be sold.
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Tips & Warnings
An auction does not automatically mean you will save money when buying something up for bid. You will need to compete with other bidders, and the final cost of an item may end up the same as or even greater than its market value.
