High-end classic car auctions like the Barrett-Jackson events are common on cable channels with three-digit numbers, such as Speed and HD Theater. Perfect Shelby Cobras, Ferraris with long racing pedigrees, glorious Duesenbergs, exceedingly rare muscle cars and old Mercedes roadsters so gorgeous that your eyes water cross the block and sell for insane prices.
The majority of the vehicles found at local auctions will need some work done to them in order to be deemed “road-worthy.” Knowing this before you ever set foot on the grounds is a major part of deciding if this is the right way for you to source an automobile. A low bid on a crappy car has the potential to leave you stranded on the side of the road, so if you aren’t a savvy DIY wrencher, you’d better have one hell of a trustworthy mechanic.
Several different federal agencies hold government auctions. The General Services Administration is the granddaddy of them all, because it sells on behalf of other departments. When a federal agency no longer needs something — say, a pickup truck — it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits. If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it.
These programs are meant to benefit taxpayers as a whole, but could they benefit you, the individual taxpayer? Can you bag a bargain at a government auction? "GSA's goal is to maximize return to the federal government," the GSA spokesperson said. So they're not giving this stuff away. In fact, the government sets "reserves" or minimums for the most valuable property it auctions off. But judging from a wide tour of current government auctions and bids, there are still opportunities to walk away with valuable goods for a great price. Here's a look at who's selling what, where, and for how much.
It is strongly recommended that you attend the open houses/inspections that are scheduled prior to sale. The bidder is invited, urged, and cautioned to inspect the property prior to submitting a bid. Failure to inspect property shall not constitute cause for cancellation of sale. Property will be available for inspection only at the times specified. At their own expense, potential bidders may have property inspectors examine the property during regularly scheduled open houses.
Almost every day law enforcement agencies from all across the country seize a wide range of properties that are connected to criminal activities. After the property has been used as evidence for the criminal trial and has been processed, the government will no longer need to hold this property, those properties are auctioned off to raise the money for administrative works and development. Seized auction are also resulted due to custom seizures, tax seizures and criminal seizures. For instance, when a trafficker's or drug dealer's home is raided by the government authorities, their possessions are confiscated as a result of being obtained from illegal activities. When a person doesn't pay tax as well, his/her possessions such as real estate, jewelry and cars are also confiscated and they are auctioned off to meet the outstanding tax liability. Similarly people who smuggle into the country without paying any kind of import duty or the items people are failed to prove as theirs when returned from foreign countries are also seized by the government and placed in the auctions.
Log onto PropertyRoom.com, a Web site which auctions stolen property that law enforcement agencies were unable to return to the rightful owner. The auction is run much like eBay, and its product mix is arguably just as eclectic. Thanks to the criminal mind, the inventory, unfortunately, is endless. Stereos, guitars, laptops, jewelry, bicycles and designer clothes are all available for a fraction of the original value.
General Disclaimer: Get Rich Slowly is an independent website managed by J.D. Roth, who is not a trained financial expert. His knowledge comes from the school of hard knocks. He does his best to provide accurate, useful info, but makes no guarantee that all readers will achieve the same level of success. If you have questions, consult a trained professional.
Hall Of Fame City Auctions https://www.hofcityauctions.com Begins: March 10th @ 2:00pmEnds: March 17th @ 7:00pm.This is a 100 Lot Auction full of Great Items!!! Another Sunday Night paper related auction!! Includes loads of AUTOGRAPHS, Rookie Hall of Fame Baseball / Football Cards, many LP records w/ Sleeves, Old Books & Yearbooks. Now lets do a deep dive into details!! AUTOGRAPHS w/ [ View Full Listing ]
The Department of the Treasury has designated CWS Asset Management & Sales (CWSAMS) as the prime contractor responsible for the maintenance and sale of seized and forfeited real property throughout the U.S. Our website is incorporated into the official Treasury site, http://www.treasury.gov/auctions/. CWS is not affiliated with any other auction information services, seminars, or publications, and we never charge a fee to access these auction listings.
Public auctions are not usually advertised to bring in the best revenue. Sometimes there might be a small ad in the local paper, but unless you go looking for it, you might miss it altogether. On the whole, public car auctions are actually really difficult to find. Knowing how to locate your nearest auction room will help you for any future purchases too. The place you should talk to is your department of transport. They will let you know if they conduct their own auctions or put you in touch with a financial institution that does.
But the competition at county auctions is brutal and it's only getting stronger. "Taxi companies want the old cruisers to use as cabs," Lang says. "And often there are government employees who are going after a vehicle that they used on the job and grew fond of. A lot of the school buses and trucks get bought by brokers looking to ship them overseas to poorer countries that will use them for public transportation. These are guys who go to government auctions all the time, know what to pay and know a lemon when they see it. You won't be the only bargain hunter out there."
Sitting on the couch, craft beer in hand, we salivate over the parade of shining classic cars rolling across the auction block at Barrett-Jackson, changing hands for ungodly globs of cold, hard cash. It’s places like this where you can pick up cars like custom built Singer Porsches, old-school hot rods, vintage Ferraris, and soon to be released, serial #001 supercars, and as the drinks get stronger, so too does the bidding.