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Where to Find the Best Deal
By Ferry Suwantoro
Police Auctions
Police confiscate items and impounds vehicles. But if the items are left unclaimed for a definite period of time or there is no possible way to trace the owners and return the items, they become auction goods. Police also seize properties and items associated to crimes people commit.The police seized properties will then go to an auction. Police auctions are often held at local police agencies, federal law enforcement agencies, police departments, and county sheriff departments at specific time and date.
Government-Seized Auctions.
Due to foreclosure and seizure laws, the government accumulates properties from private owners who were unable to pay their mortgages or loans.
The Customs and Border Protection, US Department of Homeland Security, U.S. Postal Service, U.S. Marshals Service, U.S. Bankruptcy Court, Internal Revenue Service, and State Tax Department are some of the government agencies that hold government-seized property auctions.
Bank and Loan Companies
Bank and loan companies often repossess properties from owners who are unable to make loan payments. These repossessed properties range from real estate, vehicles to home furniture, become bank or loan company properties.
Since the cost of storage is high, bank and loan companies want to convert the repossessed properties into liquid assets right away. Bank and loan companies often announce auction schedules online, in office bulletins and in newspapers.
New and Used Car Dealers.
In order to make a sale, new car dealers allow their costumers to trade-in their old cars for new ones. The old vehicle that was traded-in will then go to an auction. Used car dealers also employ the same system as other auction houses to generate sales.
Auction Companies.
Auction companies sell a wide array of auction goods. Check newspaper ads, auction brochures, and the yellow pages.
