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Bidding Information and Terms
These are not
even a piece of what are available for obtaining property for auctions.
This is just a general overview of available auctions. Directly
contacting the agencies gives you first choice on many vehicles,
homes, and other items.
Why
does the government sell goods at auctions ?
All Government Agencies rotate their inventory on a regular basis.
Government Agencies are mandated by law to put their surplus up
for public Auction.
What
type of merchandise is sold at auctions ?
This is a partial list of the most common items : Automobiles ,
Trucks ,Vans , Buses , Jeep Cherokee , Motorcycles , ( Most Vehicles
are in excellent condition, with low mileage. at G.S.A. Government
Auctions.) , Boats , Ships , Airplanes , Cameras , Office equipment
, Computer equipment , Building Materials , Electronic Equipment,
Farm Equipment , Homes , Commercial Real Estate , Bicycles , VCRs
, Stereos , Power Tools, forklifts , Audio Visual Equipment , and
much much more.
How
do Private Auctions operate?
Operates the same as a public auction. But the public is not invited.
Bidders must be invited by the auctioneer, or his employer.
What
is a Candle Auction Sale?
A candle sale is a type of auction that uses phone mail as the method
of bidding. A minimum bid or asking price will be established for
a property and prospective bidders will be required to place a deposit
with the State in order to participate.
What
is Spot Bid Auctions?
Similar to a sealed bid auction. But you would be present at the
auction site. As each item comes up for sale if you wish to bid
you will write down your bid and bidder number. Insert it into an
envelope. Then hand it to the auctioneer. He opens all bids. The
highest bid wins.
How
do Negotiated Sales Auctions operate?
Bids are made before you attend the Auction.
What
are Public Auctions?
The Federal agency follows traditional auction procedures and gives
prospective buyers a description of the property to be auctioned
along with bidding instructions before the auction. The auctioneer
conducting the sale offers the property item-by-item and awards
the item to the highest bidder. When buying through an auction,
the buyer must be present to bid, unlike the sealed bid method,
which is conducted by mail.
What
are Sealed Bid Auctions?
These auctions are most often conducted by mail. On your request
the government will send you an "Invitation to Bid" form
(for each item you wish to bid on ). You must fill it out. Include
a deposit (set by the auction). Then mail it to the auction by a
preset cut off date. All bids will be opened at the same time, and
the highest bidder wins. If you do not win the bid. Your deposit
will be returned along with the results of the auction.
What
is a Sealed Bid?
The Federal agency prepares an "Invitation for Bid," an
informational sheet that describes the property being offered for
sale and includes the terms and conditions of sale. It contains
all the information you need to bid on the item. If interested,
you submit your bid to the agency, usually by mail. On the bid-opening
date, the bids are read publicly and the award is made to the highest
bidder who has correctly followed the required procedures.
What
are Reserve Auctions?
A reserve auction is generally open to the public. The auctioneer
offers items for bids with a minimum price. If that price is not
reached in the bidding, that item is not sold. If the owner of the
item is present at the auction, the auctioneer will ask him if he
will accept the lower bid
What is Pre set?
The auctioneer must accept all bids. If there is only one bid of
one dollar on an item. The auctioneer must sell to that bidder.
What
is an Absolute Auction?
This auction is considered the best one to attend. An Absolute auction
has no reserve prices.
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