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Police Auctions & Government Auctions Professional Resource
Information
Author: Daniel Holmbeck
Police Auctions Information: No, a police auction is not where
you go to buy a policeman. Most people do not realize that
police agencies, including local police departments, county
sheriff departments, as well as state and federal law
enforcement agencies end up with a lot of confiscated, lost, or
abandoned property. This property ends up in the agency's
possession as the result of arrests, forfeitures, and just plain
carelessness on the part of the property owner who sets a camera
down in some public place and walks away. Once the agency has
accumulated enough property they will hold a police impound
auction.
The purpose of the police impound auction is two-fold.
First, they want to empty out their property rooms which, in the
case of some state and federal agencies, may be the size of a
warehouse. Second, they want to turn this unclaimed or forfeited
property into cash. This cash usually goes back into the
agency's budget, but it is sometimes earmarked for the
particular government's "general fund". No matter where the
money ends up, police auctions are usually a big money raiser
for larger departments. Forfeited Property & Police Impound
Auction: Items that fall under this category are usually the
creme de la creme of the police auctions industry. This is where
you can find anything from motorcycles and cars, to boats,
airplanes, and homes! Forfeited property is generally the result
of drug arrests where it was determined that the seized property
was either used in the commission of drug-related crimes, or was
purchased with money that was received as the result of a
drug-related crime. When you bid on this type of property at a
police impound auction you are agreeing to accept the item "as
is".
You need to be aware that the term "as is" does not simple
refer to blemishes or minor damage. If, for example, you buy
property at auction, and that property has tax liens placed
against it, you will be expected to clear those liens before you
can take rightful ownership. The same holds true for mortgages
or car loans. You can find some real bargains at police auctions
for this type of high-value merchandise but you need to perform
your due diligence so you don't end up in red ink after the
transaction. Unclaimed & Abandoned Property: You would be
shocked at what kind of property that people either lose or
simply walk away from. You would be equally shocked at how many
honest people find that property and turn it into the police
department. Ultimately, if no one claims the property, and the
owner cannot be otherwise be located -- it ends up at a police
auction where it is sold to the highest bidder. Police auctions
can be fun and profitable. Especially police auto auctions.
Watch your local papers for announcements, or contact the law
enforcement agencies in your area and find out when they are
running the next police auctions. Http://DEAauctions.COM is an
unchallenged leader in the Auction information Industry and will
transform the way you search & locate the Billions of dollars in
property that is auctioned off throughout the country every year.
Auction Process: Most jurisdictions have specific laws, or
ordinances, that deal with how the auction will be conducted. In
almost every instance, the agency that is conducting the police
impound auction is required to publish a full description of the
items that will be auctioned as well as the date, time, and
location of the auction. they will also publish payment terms
which may be cash, money order, certified check, or any other
payment method that they choose to accept. They will usually
also publish additional terms such as how long you have to
remove the property form the auction site once you win the bid,
plus any legal disclaimers that the lawyers think need to be
mentioned. This publication is normally placed in at least one
major newspaper that serves the area with in the law enforcement
agency's jurisdiction.
The purpose of this publication is first:
to notify the owner of the property that they have one last
chance to redeem it before it is sold at auction, and second: to
generate publicity for the police auction so that it will be
well attended. Depending upon the size of the agency, and the
agency's experience conducting auctions, a police auction will
either be run by the police department itself, another
government agency that is responsible for fiscal matters, or an
outside auction company. The police auction might be held on the
steps of the County Courthouse, a room inside of some government
office, or a public arena.
The location of the police auction
depends a lot upon the size of the agency and how much property
is being auctioned off. Some police auctions require that you
register as a bidder in advance, while others let everyone and
anyone show up at the day of the auction. Bidders are usually
allotted time to inspect the goods before the actual police
auction begins. You should take advantage of this time because
it is a very bad idea to bid on anything that you haven't had
time to inspect. Once the auction starts, you simply bid on the
items that you want. Have a budget in mind and don't bid more
than you're willing to pay. It's easy to get caught up in the
bidding frenzy and end up paying far more than you intended to.
Police auctions can be fun and profitable. Especially police
auto auctions. Watch your local papers for announcements, or
contact the law enforcement agencies in your area and find out
when they are running the next police auctions. Government
Auctions: Insiders know where to find government auctions to buy
homes, cars, boats, airplanes, motorcycles ˆ even furniture,
designer clothes and jewelry.
The property available for public
bidding at government auctions is often surplus goods the
government no longer needs or confiscated as evidence in
criminal cases. Since government auctions are not well
publicized, insiders can buy goods for pennies on the dollar.
Whether you want to find bargains for yourself, or to resell
your purchases for a profit, government auctions are an
effective way to increase your net worth and bottom line. Own
luxury goods at Wal-Mart Prices: When the government auctions
off property, all closing bids are final. Many people attending
government auctions for the first time can't believe the prices!
Everything you buy at the auction is yours to keep ˆ no strings
attached. With prices this low, it feels like your stealing it ˆ
only it is yours to legally keep, courtesy of the government.
If
you have champagne taste but a beer budget, attend a government
auction. Rolex brands have sold for Timex prices. Why buy a Ford
when you can buy a Mercedes for the same price? Traveling? Put
away your checkbook at the discount luggage store. Go to a
government auction and spend the same money for Louis Vuitton or
COACH! You never know what a government auction will have, but
it can always be yours for a price well below fair market value.
Starting a business with government auctions: No organization in
America buys more office goods than the government. Auctions are
how they dispose of surplus goods no longer needed. Computers,
desks, office chairs, AV equipment, copiers and trash cans ˆ the
government auctions them all off.
Conserve your capital for
operating cash and profits. Smart business people find the
office equipment they need at government auctions. Imagine the
thousands of dollars you could've spent on furniture and
computers while you write out your check for pennies on the
dollar at the government auction. Since our government buys the
best, you know the auction will be loaded with bargains to keep
your business humming along. When you are ready to start or
expand your business the smart way, begin your office equipment
search here at the auctions.
Making government auctions your
business: After attending your first government auction and
experiencing great values firsthand, you may decide to start
your own resale business. Many people buy cars for hundreds of
dollars and resell them for thousands of dollars. Some people
spend a day at a government auction procuring goods and bring
them home to sell on their own. E-bay is a popular way for
people buying goods at the government auction to resell them
right from home. Without a retail store, you can save thousands
in business expenses during the year. Your on-line business you
can create with government auctions is limited only by the size
of your garage! Become a power seller!
You don't need
experience to bid at a government auction If you can hold up a
bidding number, you can win at a government auction. Of course,
with any auction, you will want to inspect the items you are
interested in buying before the bidding begins. If you are
interested in a computer, but could not turn it on to see if it
worked, how much would a non-working computer be worth to you?
Since all sales are final, there are no returns. Avoid
disappointment, and don't bid on anything you can't personally
inspect. Government auctions provide amazing values, but don't
lose your common sense in all the excitement. Know how much the
property is worth before the auction begins, and your experience
at the government auction will be a positive one.
About the author:
http://DEAauctions.com is
an unchallenged leader in the Auction
information Industry and will transform the way you search &
locate the Billions of dollars in property that is auctioned off
throughout the country every year. |
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