Money Making Reports

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U.S. Government
Auction Sales:

THE MONEY MAKER
OF THE 90’S
For You
An
Insider’s Handbook
Table of Contents

RESOLUTION TRUST CORPORATION 39

SUMMARY: You're In Business Now!        40

OVERVIEW OF GOVERNMENT AUCTIONS

Most people are completely unaware of the bargains that can be found in the most unlikely of places: the government! We're used to reading about the Pentagon paying $59.00 for a wrench, about the national debt rising higher and higher, so it's excusable to not think of government and "sales" in the same sentence. Yet nearly every level of government from city and town on up through county, state and federal, has possession of excess property that must be disposed of. If this can be accomplished and money raised at the same time, why not? We want government to be fiscally responsible, right? The most common method of parting with this overage of property is through auction sales. These affairs offer a unique opportunity to the right person–– purchases at bargain basement prices which you can turn around and sell at a profit! The money to be made staggers the imagination. From property seized by police officers or customs officials to repossessions by the Department of Housing and Urban Development, there are thousands of items of all types available at rock–bottom prices. Whether you're merely buying for yourself or seeing this as a line of business that could make you a substantial profit, the key is to identify and locate these auctions. You name it! Houses, cars, jewelry, yachts, government farm equipment, computers, firewood–– it's there for the bidding… and the buying! And, eventually–– the selling for profit! You don't need much experience for this. You are familiar with what many of these items cost today on the open market. If you buy it far enough below market value, you can still sell the property yourself at a discount and make a handsome profit. If you yourself have always wanted to own a luxury yacht, here's your chance. You'll never find your dream purchase at a lower price. You could even start a second–hand store or set up shop at a flea market or swap shop to peddle your merchandise after you've acquired it. Many of these places are havens for shoppers. You've simply gone them one better by obtaining the good(s) at an even lower price than they'll pay–– and they’ll be pleased with their "bargain". The purpose of our booklet is to point you in the right direction to find out about the various auctions that are held by virtually all branches of government. The listings in this book are as up to date as possible. Contacting these places listed should give you the information you need to begin your auction attendance. There are open–bidding auctions, where you shout out the dollar value you're willing to pay following a minimum bid requirement called by the auctioneer. There are also sealed–bid auctions where you submit the price you're willing to pay. You get only one shot at that type of bidding. Be careful with the open bid auctions. You can become so focused on a particular piece of property that you end up in a "bidding war" that ends up with your paying more than you should and cutting well into your eventual profit. Be disciplined! Set a dollar limit ahead of time so that you can let certain items go if the bidding goes too high. This is a business now, so common money sense is important. You must now think in terms of expenses vs. revenue. If you have a certain hobby or interest, property in this area may be your natural market. If you specialize, it can help you concentrate on only those items in the large auction areas where there are hundreds of people bidding for thousands of goods. Your focus will be in your area and you'll soon be an expert on costs, prices and resale’s of this commodity. Auctions can be hyped up–– to the point of temptation to overbid. Don't do it! Remember your goal, your budget and your knowledge of what things cost and you'll do very well. Through the contacts listed in this booklet, you will find yourself on a regular mailing list of government auctions. Often, with the notice, you'll receive a catalogue of the items to be sold and approximately what time they'll be auctioned. This will allow you to budget your time wisely at these affairs and not get lost in the shuffle. Good luck!
STATE GOVERNMENT AUCTIONS

Alabama auctions offer a variety of goods usually three times a year. Items: office equipment, cars, farm machinery, trucks, boats, tractors and more. There is a mailing list you can be placed on.

It's best to call the Juneau office (907) 465–2172 to be placed on their mailing list. There are weekly auctions of smaller items like furniture and office equipment and spring and fall auctions for larger items like cars.

Auctions held four times per year. Items: computers, cars, furniture and thousands of other pieces. Mailing list is available.

Open bid auctions once a month of surplus vehicles on Saturdays at Sacramento or Los Angeles. Mailing list.

Several auctions per year. Mailing list is available. Non–profit organizations have first choice.

CONNECTICUT

60 State St. Rear
Wethersfield, CT 06109 (203) 566–7018 (or 7190)

Eight to ten auctions per year. Vehicles usually auctioned on the second Saturday of the month. Registration fee.

In May and September, there are public auctions of vehicles, office furniture and other surplus property. Mailing list is available.

DISTRICT OF COLUMBIA Department of Public Works 5001 Shepard Parkway Washington, DC 20032 (202) 404–1068

Vehicle auctions held the first and third Tuesday of the month. No mailing list. Registration fee.

This address is a "retail" store with items available for sale. Motor Vehicle Bureau (904) 488–5178 holds vehicle auctions once a month at various locations throughout the state.

Several auctions per year, held on the third Wednesday of the month chosen. Mailing list. Items: vehicles, shop equipment, typewriters, computers, copiers and more.

Idaho's state agencies hold their own auctions. You must contact the specific state agency directly. Auctions advertised in newspaper.

Auctions held at Illinois State Fairgrounds in Springfield two or three times per year on Saturdays. Mailing list available for $20/year. Items: desks, chairs, calculators, cameras, refrigerators and more.

Auctions held as needed each year. No mailing list, but contact this office in May for a schedule.

Auction is second Saturday of May for items such as boats, fishing rods, tackle boxes and hunting equipment. The Vehicle Dispatchers Garage holds vehicle auctions three to four times per year. Call (515) 281–5121.

Saturday auctions every two to three months as needed. Items: vehicles, desks, chairs, couches, beds, lawnmowers, etc. Mailing list is available.

Auctions held on the second Saturday of each month at 1502 N. 17th St. Items: medical and office equipment, boats, bicycles, televisions, vehicles and more.

No public auctions. Address above is a "retail" store for surplus property. MASSACHUSETTS: State Purchasing Agency
Department of Procurement & General Services Surplus Property One Ashburton Place Boston, MA 02108 (617) 727–7500

Mailing list. Several auctions per year. Items: office furniture, household goods, machinery, livestock, vehicles and more.

About 15 auctions per year held around the state. Items include vehicles, boats and snowmobiles along with jewelry, furniture, computers, stereos and more. Mailing list.

Auctions held three to four times per year. Items: office furniture, computers, couches and more. Separate vehicle auctions held. Mailing list.

Second Saturday in August at 2250 Barnett Way, Reno, Nevada, 89512. Separate sealed bid auction mailing list is available, too. You must bid at least once over two to three auctions or you'll be dropped from the list.

Last Saturday in September. Vehicles and office equipment. Mailing list.

Sealed bid auctions. Mailing list. Warehouse available to inspect items.

Annual auction each September. Items: vehicles, office furniture and equipment. Auction is advertised two days in advance.

Public auctions and sealed bid sales several times per year. Mailing list. Items: vehicles, office machines, furniture and more.

Public auctions held every Friday of items such as vehicles, desks, computers, snow plows, horse trailers and more.

Vehicle auctions at least ten times per year. Mailing list. Bureau of Supplies (717–787–4083) also auctions numerous items. Mailing list available.

Rare public auctions, advertised in local papers. Sealed bids to a list of buyers of vehicles and office equipment. Call to see if you can get on the list.

Warehouse is at above address. Auctions held periodically. No mailing list. Public Transportation Office (803–737–1488) keeps a mailing list for its vehicle auctions held every five to six weeks.

Every two months, auction of vehicles, office furniture, machines and highway equipment is held. Mailing list.

Auctions of vehicles, office furniture and heavy equipment are held four or five times per year. Mailing list.

Warehouse at Central Garage on Barre Montpelier Street. Items: office furniture and machines. Public auctions for vehicles in May and September. Mailing list.

Regular auctions for all types of items including office equipment, computers, tractors, bulldozers and more. Mailing list. Cars auctioned twice a year.

Auctions every month. Items: chairs, desks, telephones, computers and more. Mailing list.

Warehouse at Hill Farm Bldg., 4802 Sheboygan Avenue. Department of Administration (608–266–8024) holds public auctions every month for vehicles. Mailing list.

Periodic vehicle auctions. Mailing list. STATE UNCLAIMED PROPERTY

There are billions of dollars in this country in unclaimed money sitting in state property offices money from uncashed stock dividends, forgotten bank accounts, insurance proceeds, utility deposits, safe deposit boxes and similar uncollected items. People move, die, lose track of various accounts; it all adds up to huge dollars. After a stipulated period of time that this money goes unclaimed, the state is notified and then tries to track down the rightful owners of the money. How does this affect you? Obviously, if you think you may be the beneficiary of some of that unclaimed money, you can contact your state's department of revenue to find out more. The other possibility is the opportunity to help track down the missing individuals. State resources being slim these days, you may be able to earn a finder's fee by locating the person. Finder's fees can range fairly high depending on the amount you make someone aware that they're entitled to receive. Some states have formal rules on the fee you could be paid. There is a concern on the states' part about overcharging the beneficiary, so keep the fees reasonable. It is a way to earn some money through your ability to track people down and tell them about their unclaimed cash. Contact your state's department of revenue for a lead on this information and about any fee restriction or regulation that may exist. THE U.S. GOVERNMENT

The federal government is a regular discount house of values –– if you know where to look. From real estate to cameras to animals to books to vehicles, there are "Blue Light" specials everywhere on Capitol Hill. There's a catch, of course. The government doesn't advertise their sales. The listings that follow, however, are your contact points for information. This will help you identify and make your purchases. This is an ongoing enterprise. Government tentacles reach everywhere and there is a constant flow of materials coming in from many sources, from drug raids to IRS seizures. The Post Office has millions of dollars in unclaimed parcels which are sold. Repossessed homes as a result of government foreclosures can bring you the bargain house of your lifetime. Here are the listings, beginning with the Housing and Urban Development Department. HOUSING & URBAN DEVELOPMENT

Auctions of foreclosed properties are a regular occurrence. The properties may be houses, apartments or condominiums in various states of repair. They may need fixing up–– in some cases, considerable work–– but you can find that out and decide what the value is to you. The HUD Home Line is 1–800–767–4483.

Room 375
Thomas P. O'Neill, Jr. Federal Building
10 Causeway St.
Boston, MA 02222
(617) 565–5234

Field Offices:

Providence Office 330 John O. Pastore Fed. Bldg.
U.S. Post Office – Kennedy Plaza
Providence, RI 02903–1785
(401) 528–5351

REGION 2: New York

26 Federal Plaza, New York, NY
10278–0068
(212) 264–8053

Field Offices:

REGION 3: Philadelphia

Liberty Square Bldg.
105 S. 7th St.
Philadelphia, PA 19016–3392
(215) 597–2560

Field Offices:

Richard B. Russell Federal Bldg.,
75 Spring St.
Atlanta, GA 30303
(404) 331–4739
Field Offices:

Tampa Office
Timberlake Federal Bldg. Annex #700
501 E. Polk St.
Tampa, FL 33602–3945
(813) 228–2501

REGION 5: Chicago

547 W. Jackson Blvd.
7th Floor
Chicago, IL 60661
(312) 353–5680

Field Offices:

REGION 6: Fort Worth

1600 Throckmorton
P.O. Box 2905,
Ft. Worth, TX 76113
(817) 885–5505

Field Offices:

Gateway Tower II, Rm. 200
400 State Ave.
Kansas City, KS 66101–2406
(913) 236–2162

Field Offices:

St. Louis Office
Robert A Young Federal Building, 3rd Fl. 1222 Spruce St.
St. Louis, MO 63103–2836
(314) 539–6560

REGION 8: Denver

Executive Tower Bldg.
1405 Curtis
Denver, CO. 80202
(303) 844–6518

Field Offices:

Sioux Falls Office
300 N. Dakota Ave. Suite 116
"300 Bldg." Sioux Falls, SD 57102–4223
(Property handled by Denver office)

REGION 9: San Francisco

Phillip Burton Federal Bldg. and
U.S. Courthouse
450 Golden Gate
P.O. Box 36003
San Francisco, CA 94102
(415) 556–5900

Field Offices:

REGION 10: Seattle

Arcade Plaza Bldg.
1321 Second Ave.
Seattle, WA 98101
(206) 553–1700

Field Offices:

The U.S. Customs offices seize millions in merchandise each year. E.G.& G. Dynatrend is under contract to auction forfeited and confiscated merchandise. Their address is: 2300 Clarendon Blvd., Suite 705, Arlington, VA 22201. Their phone numbers are (703) 351–7880 and (703) 351–7887. The U.S. Customs Public Auction Line is specifically the 703–351–7887 number. You can be placed on a mailing list for either $25 for regional information or $50 for national news. There are five different areas covered. There are auctions held every nine weeks in the following cities:

• Los Angeles, California
• Nogales, Texas
• Miami, Florida
• Edinburgh, Texas
• Houston, Texas
• Chula Vista, California
• Jersey City, New Jersey
• El Paso, Texas

Other cities hold auctions more infrequently. DEPARTMENT OF DEFENSE

Periodically, there are portions of a contractor's inventory that remain following completion of a job. The government paid for it, so they own it. They consider it surplus and it's sold by a Defense branch –– the Department of Defense Logistics Agency.

11099 South La Cienega Blvd.
Los Angeles, CA 90045–6197
POSTAL SERVICE

A number of items often turn up at the post office which are undeliverable and unclaimed. This merchandise can range from household and leisure items to books. The merchandise auctions are held in only 5 cities, the largest in New York and San Francisco. If you live close to one of these auction areas listed, by all means go and check it out. Otherwise, it may not be worth a lengthy trip.

Postal vehicles are also sold by the Post Office. They must be purchased with cash, bank check or money order.

INTERNAL REVENUE SERVICE

Naturally, the Internal Revenue Service has been known to seize a few items themselves. They generally auction these goods off to raise money for back taxes and penalties owed by the person whose property has been confiscated. You can get on their mailing list by calling their HOT LINE: (800) 829–1040

Other hot–line numbers:

• San Francisco (415) 556–5021
• Seattle (206) 553–0703
• Los Angeles (213) 894–5777
• Sacramento (916) 978–5520
• New York City (718) 780–4020

The IRS may prove to be your ally yet!
OTHER INFORMATION

The other phone numbers of importance may belong to the Federal Supply Service Bureau which can give you more information about General Services Administration Auctions. Those listings: National Capitol Region
National Surplus & Sales Center
Federal Service Supply Bureau
6808 Loisdale Rd.
Springfield, VA 22150
Hot–line: (703) 557–7796

RESOLUTION TRUST CORPORATION

In the 1980s, there were a vast number of savings & loans failures and the U.S. Government contracted with the Resolution Trust Corporation to dispose of personal property and assets accumulated during the last few years. There is a wide inventory that is constantly changing. The key contacts: The Affordable Housing Disposition Program

1–800–624–HOME Resolution Trust Corporation
National Assets Specific Inquiry Program: (800) 431–0600

Regional Assets Sales Hotline
(800) 348–1484

For real estate: (800) 782–3006.

SUMMARY: You're In Business Now!

This is a wide assortment of contact listings for you to begin your new career in the buying and selling business. People are going to buy goods from you or from someone else. Why not take advantage of the outstanding savings you can accumulate by having the government locate your acquisitions for you? You always thought the government only took taxes from you. Here's a chance to get some back! Of course, it will probably increase your taxes as your income goes up, but that's a good problem to have, right? Good Luck!

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