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The first piece of information that one should have before even thinking about making money is to know what type of government auctions are available to someone such as yourself.
The two main categories of auctions are seized property auctions and surplus auctions.
Seized property auctions derive from many different levels—criminal seizures, tax seizures, customs seizures, police seizures, sheriff sales, and tax sales.
The government obtains a steady flow of properties, cars, jewelry, electronics, and much more from many different avenues. They can seize a criminal’s stolen assets, take control of items that were trying to be smuggled illegally through an airport, or seize any asset that was not paid for via government taxing.
Surplus property auctions are in essence an outlet for local, state, or federal governments to sell items that they don’t have any more use for. These items can range from goods to automobiles to properties.
A surplus auction is a great opportunity for the public to bid on items that they might need or want to sell, that the government has an excess of. For example, if the U.S. Army has a new issue or model of a Hummer that they are going to establish throughout that branch of military, they might have a surplus of older model Hummers that they want to get ride of. This is where you come in. At this surplus auction, you have the opportunity to win these items and essentially turn a profit if you know the right place to flip them.
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