"There are two types of public auctions," explains Steven Lang, who runs a used car dealership in the Atlanta area and once owned a dealer auction (not open to the public). "There are government auctions and there are public auctions." Both are full of potential pitfalls. Here's a quick rundown on both and 10 tips for getting the most out of either. That is, if you dare to venture into the auction pit.
"As our police business has grown, we've been approached by other liquidators," Bellomo said. "This downturn has put 3,000 brick-and-mortar retail stores out of business. There is distressed merchandise all over the United States. Brand-new jewelry and watches, authentic sports memorabilia, fine art. Liquidators are coming to us and saying, 'Can you work with us the way you work with police agencies. Can you turn this excess inventory into cash?'
If you're looking for a good deal, you'll find it at online auction websites. Cars, jewelry, clothing, books, homes, and land are all available at bargain prices at these bidding sites with their amazing variety and choice. Collectors — from Star Wars to Disney — will also appreciate these websites, because frequenting them is a great way to increase your collection without breaking the bank.