Federal Government Auction

An auction is the process through which items are sold to the highest bidder. The items are offered for sale to the public in a public setting on a previously announced auction date. The announcements of auctions are usually done through national and local newspapers. A government auction is one that is conducted by the government to sell their surplus or confiscated goods.

In a government auction, you could typically find items ranging from surplus goods to forfeited items to criminal seizures. You will find a huge variety of goods from treasury bills, business furniture, luxury cars and boats, to personal items seized in drug busts, and commercial and residential property in a government auction. For the consumer, the real appeal of a government auction lies in the fact that the government is not out to make a profit and most items are sold at or below cost or fair market value. The U.S. government puts up billions of dollars worth of inventory every year and all the information about the items being sold is free information and easily obtained. 

The Following Government sites will give you a good idea on where and when the Government auctions are held
• The General Service Administration: The GSA is the government site for auctioning off its surplus, forfeited and seized property. The GSA Auctions site is completely web-based. To participate in an auction, you need to register on the web site. It allows all registered participants to bid on a single item or multiple items within specified time frames. It offers federal property ranging from office equipment and furniture to scientific equipment, heavy machinery, airplanes, and vehicles for sale.

• U.S. Marshall's Service: The U.S. Marshals Service (USMS) handles property seized from the commission of a felony by the United States Department of Justice and its investigative agencies. The property offered for sale ranges from residential, commercial real estate and financial bonds to a wide range of personal property such as motor vehicles, boats, aircraft, jewelry, art, antiques, and collectibles. 

• U.S. Postal Service: The U.S. Postal Service offers a large variety of merchandise that was undeliverable or damaged in transit for sale to the public. They have five locations in the country where such auctions are held. You can contact a post office near you and obtain auction related information or check online for scheduled auction locations and time and terms of payment.

• US Department of Treasury: The US Department of Treasury’s auctions consist of all seized property by the IRS, the US Secret Service and the Bureau of Alcohol, Tobacco and firearms. Items for sale include anything from houses, cars, livestock, boats, furniture, to property. All relevant information about the upcoming auctions including the location and instructions for bidders are available on their website.

• The U.S. Small Business Administration: The U.S. Small Business Administration acquires property through its loan programs. When the borrower defaults on payment, their property is taken over and then sold to the public through auctions. The property ranges from real estate - commercial property, single family homes, vacant land and farms - to personal property such as machinery, equipment, furniture, fixtures and inventory.