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How to Make Money with Government Surplus Auctions
Do you love online auctions and finding bargains? How about making money?
What if you could make money while doing something you love?
Buying items at wholesale and reselling those items for a profit is not a new concept. That’s how all retailers and businesses that sell products work. However, not many people think about government surplus auctions as a source to find items to resell.
What is a government surplus auction?
When government organizations or institutions (police departments, city offices, schools, etc.) purchase new equipment or supplies, they typically get rid of the old equipment via auctions. You can find just about anything at a government surplus auction including computers, furniture, electronics, and other odds and ends. Even real estate property or vehicles can be auctioned off. Nowadays, most of these items are available through online auctions.
How can I buy items in government surplus auctions?
Every auction house or company hosting the auction has its own terms and conditions, but it usually is relatively easy to participate as a buyer. You may have to put down a deposit and register an account before you can begin placing bids.
Some auctions require a minimum opening bid amount while other auctions have no minimum. For example, an auction for a car may start off at $1,000. Here at Cal Auctions we don’t have minimums, so you can start off placing a $0.01 bid on any item. These are the types of auctions where real bargains can be had!
There is one very important thing to keep in mind when buying items in government surplus auctions in order to resell for a profit. We’ve talked about this many times before, but if you’re new to our blog or even if you’re a long-time reader, it’s worth repeating:
Always do research on the item you want to purchase and make sure you’re not overpaying for it. You should know the value of the item so you can figure out how much you’re willing to pay for it and how much profit you want to make from it.
Where can I resell items to make money?
There are many ways that you can sell the items you’ve purchased including flea markets, online marketplaces such as Etsy, or apps such as OfferUp where you can sell to buyers in your local area. You could even sell stuff to friends and family. You’ll have to research your niche (if you have one) and determine where you can make the most money.
If you happen to purchase a huge lot of items such as computer monitors, ink cartridges, or anything that is sold in bulk, you could resell each individual piece in online auctions such as ours.
Ready to get started?
Check out our latest government surplus auction that we’re hosting for Southwestern Community College. You can find a police car, large metal containers, laptops, computer monitors, lab equipment, and so much more. This online-only auction starts closing on Wednesday, April 10 at 10:37 AM PST.
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