State Surplus Auctions

The size of government seems to be on the increase. "Economic stimulus" is the catchphrase nowadays. On the frontend almost every state are introducing some level of economic stimulus and spending to fight of the tough economic circumstances.

Regardless of which side off the debate you are on regarding the size of government, the fact remains that its mere existence creates a very active and sizeable participant in the economy.

For decades, State governments have been large role-players in local economies. This inevitably gives rise to state surplus auctions.

States purchase goods which they use in the normal delivery of service to the public. The economic life (or usability) of these goods ‘run out’ over a period of time. This creates the need for state governments to sell an array of government-owned boats, computers, tools, office equipment and – furniture, etc. Goods are normally auctioned, and these events are known as State Surplus Auctions. It is basically all the assets which are confirmed as excess by the relevant State agencies and departments. The reality is that many of these ‘used’ state government goods are still in pristine order and constitute great potential buys.

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I’m sure we all heard of someone that picked up an absolute bargain at an auction. Truth of the matter is that state auctions are still a perfect place to find these great deals. The key is to look in the right places. So the question is asked, ‘Where do I start?’

Every State will have its own unique procedure in dealing with these surplus auctions. In almost all cases the State administration will have a dedicated department, division or program responsible for its Surplus property.

A number of states will first offer goods to certain pre-approved public or non-profit organizations. After these organisations had the opportunity to purchase the goods they are put on for public auction for anyone to participate. Other states prefer to have all interested parties attend the same state surplus auction whilst giving certain preference treatment to school and government representatives from the State. This can be in the form of waiving the deposit requirement and/or allowing their purchase in the form of a purchase order.

When the auction takes place it will either be in the form of a public outcry or sealed bid. Sealed bids are a little outdated to an extent and only happen in the case of major items being sold off. Due to the nature of these bids they will normally be advertised in a relevant local newspaper(s), a few weeks in advance, to provide an adequate ‘window of opportunity’ for the public to participate in the form of submitting their sealed bids.

Most auctions are public outcry. As with other auction types, these are advertised beforehand in newspapers and even through flyers. Most States also have electronic communications for which interested parties can subscribe in order to be kept abreast. Some States (particularly the larger ones) even go as far as having dedicated mailing lists for certain product categories. Potential bidders can register for these for (sometimes) a nominal yearly fee. Auctions are held more frequently in some states than others, whilst some conduct it on an ‘as needed’ basis.

States also help prospective buyers by opening the warehouse for viewings a few days before the actual auction. Whether you intend to buy office furniture, vehicles, electronics or trailers, chances are you will want to have a look at the condition of the goods. The viewing provides you with just this opportunity. It’s advisable to have as close a possible an inspection as this will be your only chance to review the products before you buy.

On the big day, bidding is normally handled by a private auctioneer, outsourced by the state government to handle the activities. Bidders beforehand pay a refundable cash fee, which basically acts as their ‘entry’ fee to the state surplus auction.

All things taken into account, surplus auctions today are still a great opportunity for private citizens and businesses get quality goods at a significant discount to their true market value.

Want to profit from State Auctions?      If you also want to make massive savings using State surplus, I recommend you take look at  GovernmentAuctions.    This is a membership service which regularly updates with the latest information on surplus auctions in every state in the US. The deals you will find is truly spectacular and the quality of the goods are excellent. Click here to check it out now!