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How To Buy At Auction
Police auctions can be hidden treasure troves of great deals. When a
police station accumulates property which has been seized due to
criminal activity or negligence, the police hold an auction to raise funds
for the station. Seized property can include anything from houses and
cars to jewelry and electronics. The majority of the items are sold for
prices well below market values. Usually, jurisdictions publish a report of
upcoming police auctions, which they publicize in a local or major
newspaper, oftentimes the most up to date information is found online.
Prior to participating in police auctions, research the auction laws in your
area since rules and regulations can vary. It’s not a bad idea to attend a
couple of police auctions before joining in.
Arrive early to police auctions with a pen and paper for notes. Inspect all
of the property before the bidding starts in order to carefully assess how
much you’re willing to spend. If you find property you’d like to bid on, set
a bidding price and stick to it. Don’t get caught up in a bidding war and
spend more than you can afford. Remember, when you’re bidding on an
item at a police auction, you’re bidding on it as-is, bumps, dents, and
scratches included. Some of the best times to attend police auctions are
days with inclement weather as there tends to be a low turnout and you’ll
have less bidding competition. Most police require you to remove the
property at the conclusion of the auction, so be prepared with sufficient
funds and tools to take anything away when the event has finished.
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