It is a good idea to check out the online forums where you can read the opinions and experiences of other people who have made a purchase through the retailer you are investigating. You'll get some great advice concerning how to make your purchase and how to determine the amount of your bid. You'll get some specific information regarding the customer service and outcomes that those other customers experienced. You will also find the information you need to decide whether or not you want to work with a particular site or if you should move on to another site. One popular forum site is Steel Soldiers.
What Is Commonly Available through Liquidation Sites?
There is actually a large variety of products offered at the different liquidation sites. In addition to the construction and heavy equipment which you are looking for, you may also find items such as aircraft parts, boats and supplies, scrap metal, and playground equipment. You may go into the liquidation site looking for construction vehicles and come away after having bid upon a completely unrelated item. The diversity of the offerings has a lot to do with where the supplier/retailer is getting the products which are for sale.
Research the Item You Want to Bid For
Once you have found the Government Liquidators: Construction & Heavy Equipment item which you've been looking for, you should take some time to be sure that you are getting exactly what you think you're getting. You may use some of the information listed on the site to aid you in your decision making:
- Description of the item
- Make or brand
- The model and year
- Where the item is being held (you'll have to arrange for pick up no matter where you live)
- Operation history and description
- Information about the seller
- Availability of inspection opportunities
- Special instructions regarding the bid
- Photos of the machinery or equipment which you are hoping to win
Before you make your bid or raise it, you'll want to make sure that you really understand how much the item is worth, so that you don't end up bidding more for it than it is worth. Make every effort to inspect the equipment in person before the sale and, if possible, take pictures of the item from every angle to be sure that the heavy equipment you are bidding on is the same equipment you end up with after the sale is complete. Sometimes you'll be able to view a video about the specific equipment which you wish to purchase, like the video clip for this 2005 Oshkosh Heavy Equipment Transporter Tractor.
Why Are These Items Being Sold at Such a Discount?
Sometimes the equipment or machines have been used by the government and must now be replaced or upgraded. There are some situations where too many of an item have been purchased and the government wants to recoup some of those costs. Much of the time the items were seized when a person failed to pay their taxes. This situation leads to the collection of items such as homes, jewelry, cars and trucks, recreational vehicles, and even personal items. The government has no desire to hang on to these items, so they put them up for auction. In some cases, the items up for auction have been seized during an investigation into criminal activities. However they were gained, the items up for auction are typically being sold at a really great discount, sometimes up to 90% off of the original price.
How to Find Out About Auctions
In order to take advantage of the great deals offered at the government liquidation auctions, you'll need to know where to look. You might find out about an auction in your area's newspaper. Another reliable source of information is the Internet. You'll get plenty of information about the different sites available. One good example of a site which is easy to navigate and use is GovDeals. Just take the time to research the site and read about them on Internet forums.
Armed with this information, you should be prepared to try out your first purchase. Try out the auction on a smaller item before spending thousands of dollars on the construction and heavy equipment which you will eventually be bidding for.