Blog Archives for One Lot Of Miscellaneous Furniture

Friday, August 22, 2014

One Lot of Miscellaneous Furniture: 50+ Items

Office ChairsLooks like the Federal Government is shutting down an office, or perhaps someone is just looking to make some upgrades. Either way, what we have here is a huge lot of over 50 pieces of miscellaneous furniture up for grabs to the highest bidder. The lot consists of 48 various office chairs in at least ten different colors. Some of the chairs have wheels and some do not. Also included, is one 2-drawer cabinet, 1 cart, one 4-shelf bookcase, and one podium. This lot would be perfect for someone who is looking for cheap furniture for a conference room, or it can be parted out and sold individually. The winning bidder will be responsible for for loading and transporting this property from its location. Inspection is recommended and encouraged. The starting bid for this entire lot is just $35, but there are no bidders as of yet. This online auction will be ending in exactly 5 days 2 hours and 36 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!


Tags: , ,
Posted in furniture, Online Auction, Online Auction Items, Surplus
Friday, August 22, 2014

US Treasury Auctions: How the Treasury Department Confiscates and Auctions Off Seized Goods

US Treasury AuctionsIf you’ve been following along in our blog series, you’re starting to see why the government is such a great source for seized and surplus assets. It has numerous agencies, some of which have been empowered to seize or confiscate an individual’s property for breaking the law, and others that spend billions of dollars on assets, which they themselves use and must eventually dispose of. The agency that we will be discussing here today falls into the first category, and it is notorious for seizing people’s assets for failure to do one simple thing, and that’s pay their taxes. Let’s start by talking about the broader U.S. Department of the Treasury, which includes the IRS.

What is the U.S. Department of the Treasury?

The Department of the Treasury was established in 1789 to manage government revenue. The Treasury prints and mints all paper currency and coins in circulation. It also collects all federal taxes through the Internal Revenue Service, and manages the government’s debt.

Where does the Department of the Treasury get stuff it auctions off?

There’s a reason why accountants frequently dispense the advice “Don’t mess with the IRS.” The first major source of assets for the treasury department is the IRS, which has the power to seize anything a person owns of value for failing to pay their taxes. This includes houses, jewelry, cars, boats, planes, and businesses. Not only can the IRS take your property, but you can also face fines and imprisonment for failing to pay or fraudulently reporting on your taxes. Despite this, countless people fail to pay their taxes every year and the IRS is able to seize millions of dollars in assets.

The second major source of assets for the Treasury Department is from people who violate federal laws such as counterfeiting. Property acquired with these illegal funds is also confiscated and auctioned off to the public.

How are Treasury Auctions Conducted?

Treasury auctions are somewhat different from other auctions we have discussed in that some of them are conducted through a sealed-bid auction rather than a public auction. In this type of auction all bidders simultaneously submit sealed bids to the auctioneer, so that no bidder knows how much the other auction participants have bid. The highest bidder is declared the winner. In a public auction bidders verbally call out their bids, and the auction ends when no one is willing to pay more than the highest bid.

What you need to know?

  • Each year approximately 300 auctions are conducted throughout the United States and Puerto Rico to sell seized/forfeited property.
  • There is a 180-day redemption period for seized assets, during which the tax offender can pay their taxes and have the property returned to them. Thus, if you are the winner of the auction, you will have to wait 180 days before the property will be transferred over to you. Furthermore, the owner, his heirs, or any person that has an interest in the property (such as a lien-holder) can come forward and pay the taxes, penalty, and interest owed.
  • While you are waiting out the 180-day redemption period you will receive an interest of 20% annually on your money, so even if they tax offender pays up, it’s a WIN for you.
  • The IRS only accepts Cash or Certified funds at their auctions. You can bring a combination of both since you do not know what the final price will be. For example if you think a car will sell for around $7,000, you can bring a certified check for $5,000 and and $2,500 in cash, just in case.

Start looking for Seized stuff from the United States Department of the Treasury by activating your free trial account right now!


Tags: ,
Posted in Guides
Thursday, August 21, 2014

2010 Dodge Charger: Missing Parts But Not Personality

Dodge Charger 2010This next auction is for a white 2010 Dodge Charger sedan with just 59,784 miles on the odometer. By the looks of it, this charger appears to be a former police cruiser. It’s missing the back seat and the rear door panels have been removed. This is common with police cars, because there are certain modifications that need to be made so that the bad guys don’t get away. If you’re willing to overlook this, you might be able to get an awesome deal on this otherwise gorgeous car. The Charger was built with performance and handling in mind, but also spacious enough to be a great family car, too. It’s equipped with a powerful V8 engine capable f delivering 368 horsepower. The description doesn’t provide any details about inside features, but it’s safe to assume that it comes with the standard trim. Individuals interested in bidding for this vehicle will be able to inspect it and ask for additional details. The are currently five bidders for this auction, with the highest one offering just $1,020.  This online auction will be ending in exactly 5 days 22 hours and 41 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!


Tags: , , ,
Posted in autos, Online Auction, Surplus
Thursday, August 21, 2014

Lot of 21 Workstations: Cubicles

WorkstationsFirst up on the auction block is a lot of 21 workstations, although we prefer to call them cubicles, manufactured by Teknion. These cubicles normally sell for a few hundred dollars each, but you can probably get a much better deal by bidding on this auction. The winner of this auction will be responsible for removing this property off the premises. There are currently only 2 bidders interested in this lot, and the highest bid is just $3,005.  This online auction will be ending in exactly 6 days 21 hours and 47 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!


Tags: , ,
Posted in furniture
Wednesday, August 20, 2014

Ladies Movado Watch: It’s Time to Get Her a Gift

Ladies Movado WatchOur last auction of the day is for a ladies Movado watch that was apparently abandoned by someone and has somehow found its way into a government auction. The watch has a brushed stainless steel finish and appears to be mostly scratch free. Movado’s iconic watches may not be the most convenient devices for telling time, since they do not have any numbers or markings on the face of the watch, but they are certainly stylish, and may we say, timeless. There is currently just one bidder offering only $5 for this brand name watch. This online auction will be ending in exactly 6 days 21 hours and 47 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!


Tags: , ,
Posted in jewelry, Online Auction, Online Auction Items
Wednesday, August 20, 2014

2009 Freightliner Cascadia: Be a Patriot

2009 Freightliner Cascadia Looking to move some freight across the country or start and inter-state shipping company? If so, then this next auction is for you. The Federal Government is auctioning off a 2009 Freightliner Cascadia 125 Truck VIN: 1FUJGLDR69LAL0511  with just over 54,000 miles on the odometer. That’s a baby in truck years. This truck has dark metallic-green paint with a flag wrap on both the left and right sides so you can move freight and represent the USA at the same time. The truck has a Detroit DD15 Engine with 475 horsepower that’s in good condition. It’s equipped with 13-speed Eaton Fuller Transmission, which is also in good condition. The truck has an aluminum fuel tank with a 300 gallon capacity. There is also a 60 inch raised roof double bunk sleeper, so you can pull over and take a nap on your way across the country. The truck is equipped with air conditioning, cruise control, power steering, AM/FM radio with CD player, tilt steering, and air-ride seats on the driver and passenger side. Those interested in bidding on this vehicle are invited to thoroughly inspect it before bidding.  This online auction will be ending in exactly 6 days 20 hours and 43 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!

 

 

 


Tags: , ,
Posted in Online Auction, Surplus, Trucks
Wednesday, August 20, 2014

DOD Auctions: How the US Department of Defense Gets Rid of its Surplus

Humvee In part III of our six-part series discussing various types of government agencies that hold auctions, we talked about the General Services Administration (G.S.A), which auctions off billions of dollars of surplus assets for countless government agencies every year. However, one of the agencies that the G.S.A does not deal with is the Department of Defense, which instead contracts with outside companies to auction off its assets. The Department of Defense or DOD is a great source of assets and deals. The Department of Defense doesn’t just auction off combat gear and military vehicles, either. On the contrary, it the department also auctions off tons of other stuff like medical supplies, computer and office supplies, gym equipment, and a slew of other things. Keep reading to learn more!  

 

What is the Department of Defense (DOD)?

The Department of Defense is a part of the executive branch of the federal government charged with coordinating and supervising all agencies concerned with our national security. It also happens to be the largest employer in the world. In total, the DOD has over 3.2 million people working for its various agencies. It takes a tremendous amount of money and resources to run a department of that size. For 2014, Congress allocated over $526 billion for the DOD to carry out its mandate. Every year the DOD auctions off hundreds of millions of dollars of assets that it no longer needs, some of which can be had for extraordinarily low prices.

Where does the Department of Defense get stuff it auctions off?

As we mentioned above, the Department of Defense spends more money than some countries do. It has a lot of stuff, and not just military vehicles and gear, either. As our military grows ever more sophisticated, a large percentage of money is spent on offices and intelligence equipment and offices. Thus, you can find some great deals on computers, printers, office furniture, and more. Additionally, the DOD is an excellent source of scrap metal, plumbing supplies, medical supplies (x-ray machines, hospital furniture, instruments,etc), travel trailers, and more.

What you need to know?

  • Many of the auctions for the Department of Defense have a buyer’s premium attached to them. This means you will have to pay an additional amount (around 10% of the purchase price) to the auctioneer, in order to cover the expenses that they incur in running the auction. Remember to take the buyer’s premium into account when coming up with a maximum bid for yourself.
  • Almost all auctions for the DOD now take place online. However, the auctioneer will not ship the items in most cases so you will either need to find a reliable shipping and packaging service to handle this for you, or pick the items up yourself.
  • As a general rule, credit cards are now accepted as payment for items that are won, although an amount in excess of $10,000 has to be paid with certified funds (e.g. certified bank check).

Start looking for surplus stuff from the United States Department of Defense by activating your free trial account right now!


Tags: ,
Posted in Guides, Military
Tuesday, August 19, 2014

2006 Infiniti G35: Still Classy

Infiniti G35 2006Looking for a great deal on a used car? Then check out this lovely 2006 Infiniti G35. This sedan has a beautiful black leather interior with bucket seats in the front, and comes fully loaded with a sunroof, custom Kenwood stereo, and tinted windows. With 133,258 miles on the odometer, this car has been around the block a few times, but it’s described to be in good condition all around. The starting bid for this auction item is $3,525. This particular auction also requires a bid deposit of $705.00, which means that prospective bidders will have to submit this amount before they will be allowed to place their bids. The auction has not yet started, but we suggest keeping a close eye on it, as it should be starting in just a few days. If you’d like to find out more about this item or any other item on our website then all you have to do is activate your free trial account right now!


Tags: , ,
Posted in autos, Online Auction, Online Auction Items
Monday, August 18, 2014

1 Lot of Hay Bales: High Quality Fodder

Hay BalesNext up is a government auction we don’t come across very often. Currently up for bid is one lot consisting of 48 bales of hay that are around three years old and consist of a mixture of brome and timothy grasses. These bales have been certified weed-free and have been stored as a single layer on the ground. These bales are described to be free of mold or rot, and still green on the inside. The hay is located at Stephens Creek Barn in Yellowstone National Park. Those interested in bidding are encouraged to inspect the hay prior to casting their bids. Round bales, such as these, are a bit harder to handle than their square counterparts since they cannot be stacked quite as easily, but they compress the hay more tightly and are more moisture resistant. These types of bales typically weight 660-880 lbs, so the winner of this auction will be walking away, or rather driving away, with over 30,000 pounds of hay. Hay bales of this size typically sell for around $34 per large round bale, so this entire lot could be worth over $1,600. There is currently just one bid of $50 for the entire lot. This online auction will be ending in exactly 4 days 18 hours and 3 minutes so if you’d like to find out more about it then all you have to do is activate your free trial account right now!


Tags: ,
Posted in Online Auction, Online Auction Items, Surplus
Monday, August 18, 2014

GSA Auctions: What They Are and What is Sold at Them

GSA AuctionsIf you’ve been following along in our blog series on government agencies that conduct auctions, you’ve probably noticed that the two agencies we’ve covered thus far; the US Customs Service and the US Marshals Service, mostly deal with seized property. Both can be great places to find items at a discount, which you can either resell for profit or keep for yourself. However, in this blog post, we will be discussing the primary agency that is responsible for liquidating government surplus assets: the General Services Administration (GSA). Over the years, we’ve noticed that some of the best deals can be found at government surplus auctions, where you can buy things like cars, boats, planes, trailers, computers, furniture and anything else you can imagine. Keep reading to learn more about how GSA auctions.

What is the General Services Administration (G.S.A)?

You can think of the GSA as a business that the U.S. government owns and operates. The GSA was established in 1949 to help support the basic functioning of federal agencies. The GSA buys most of the products and communications required to run U.S. government offices. Additionally, it provides transportation and office space to federal employees, and manages other tasks. The GSA employs about 12,000 federal workers and has an annual operating budget of more than $26 billion. However, this pales in comparison to the amount of money that the GSA oversees that is spent on buying stuff for the US government. To put things in perspective, the Federal Government has motor vehicle fleet of around 210,000 vehicles. The GSA also manages real estate assets for the government, which it periodically auctions off to the public. This is why you will often see real estate auctions comprised of old Social Security Administration buildings and other real estate assets. From time to time, you will even see small islands and other unusual properties being auctioned off.

However, when it comes to auctioning things off, the GSA does not operate for profit. Its job is to dispose of millions of dollars of government assets, and for the most part, it is willing to accept whatever amount it can get for those assets through an auction.

Where does the agency get stuff it auctions off?

All of the items sold by the G.S.A were purchased with federal tax dollars; that is, with your money. It takes a lot to operate a government as vast and powerful as that of the United States. In order to function, the government needs everything ordinary citizens would need: cars to transport government officials and serve as security;  computers and furniture to fill its offices; boats to patrol the seas; scientific and industrial equipment used in laboratories and various agencies; and much more. When the government decides to upgrade its fleet of vehicles or computers, or even close an entire department due to budget cuts, it auctions off these assets to the public.

What you need to know?

  • Since the assets sold at these auctions are surplus, most are in fair to poor condition, as is to be expected. Some of the assets may be damaged and able to be repaired, while others will be beyond repair and sold for scrap. From time to time, you might be able to find items that are in excellent condition, too. Keep in mind that items need not be in excellent condition for you to be able to make a profit from them. If you could acquire a bulk lot of 20 computer monitors for $5 a piece, you probably wouldn’t be too upset it some of them end up not working or needing repairs, because you could turn around and sell the monitors that do work for $25-$50 each and still make a tidy profit.
  • These auction items are sold “as is”, and is not warranted in any way. You should take this into consideration when setting your maximum bids and adjust them accordingly. Sometimes you can set up an inspection date and examine the items before bidding. Doing so can great reduce your risk of loss and make for a much more pleasant experience.
  • Payment must be made in cash (up to $10,000), bank cashier’s check, U.S. Postal Service or commercial money order, or personal or company checks that are accompanied by a bank letter of guarantee. Items must be paid for within 2 business days of you winning the auction and removed within 10 business days of winning the auction, or you may be placed in default status.

Start looking for surplus stuff by activating your free trial account right now!


Tags: , ,
Posted in Announcements, Surplus