govt liquidation auctions - potential money-maker?

[ARCHIVED THREAD] - govt liquidation auctions - potential money-maker?

Posted: 10/30/2006 6:54:54 AM EDT

I have seen some pretty good deals close on govt liquidation auctions (www.govliquidation.com/)
I imagine that between here and ebay, I can re-sell some of this stuff for a decent profit. Any ideas/opinions on this?
Seems like at the least i can get some cool milsurp toys for myself and at least break even selling what i dont keep.

Posted: 10/30/2006 7:04:31 AM EDT

[#1]

I've been to military warehouses where they store the stuff before selling. In my experience, 90% of it is used beyond what you would ever see at the worst garage sale/flea market.

With as much theft as there is in the military, there's a reason nobody ever stole that stuff.

Posted: 10/30/2006 7:09:19 AM EDT

[#2]

+1

Working for the civilian side of the .gov for 2 summers as an intern, I saw two things. (1) The worst abuse of vehicles, property, tools, computers, etc. I have ever seen and (2) Improper storage of "surplus" property.

I would never buy anything that was used by the .gov. Within reason of course.

Posted: 10/30/2006 7:29:30 AM EDT

[#3]

I have looked a buying some of that stuff but it always got bid WAY above what I was willing to pay for it at the last minute. This is where CTD and SG get some of their junk so you are bidding against some really deep pockets.

I know a guy who bought an old Dodge truck from the USAF for $200 about 2 years ago, he is still driving it but it was beat to crap.

Posted: 10/30/2006 8:14:55 AM EDT

[#4]

Is this an RTC auction?

Auctions can be moneymakers, but you might start with farm auctions and estate auctions before you buy gov't stuff sight unseen.

Find something you know about at an auction (everyone knows something about something right?) and never get caught up in the mad bidding that occurs. Be patient, and grab only the best deals that you are sure you can profit on.

For example, a friend of mine buys appliances at auctions, once he got a refrigerator, 2 ranges, a small air conditioner, 2 washers, and a dryer for $1. Not $1 each, but $1.00. No one else bid on them, they were ugly brown and avocado colors (he repainted them). He did quite well on the resale.

This is kind of a side business for him, he has a paint booth and a large trailer to haul this stuff.

Posted: 10/30/2006 8:36:15 AM EDT

[#5]

I thought about it also, but was stopped from lack of ...

transportation - couldn't get the stuff back to my place.
storage - didn't have any place to store it until I sold it.

If you could find at a reasonable price items that you could resonable sell within a short time frame and make some profit on each item sold, then it might be worthwhile depending upon how much time you have to put into it.

Posted: 10/30/2006 5:37:09 PM EDT

[#6]

I dont really understand how shipping works, it looks like basically you have to arrange your own, the govt offers no services. That sort of scares me. If i lived close to the location of the stuff, I would probably be going there all the time to check out the gear. Maybe when I get my garage cleaned out ill buy a few pallets of LBVs or something and sell them for $3 each.

Posted: 10/31/2006 1:29:02 AM EDT

[#7]

The best way to get deals on surplus is to attend DRMO auctions. They hold them at Selfridge ANG once a month, all you have to do is pre-register. Vehicles are rendered inoperable (battery or driveshaft removed, usually laying in the back of the truck) and most be moved out of there same day.

Posted: 10/31/2006 4:12:38 AM EDT

[#8]

This one looks like there are few stray dollar bills to be flipped on this load

81 bayonets

Posted: 10/31/2006 4:43:28 AM EDT

[#9]

There were NO drmo auctions locally anymore. we tried this same thing last yera. DRMO has gone online for all of the stuff here.

The idiots really run up the prices on this stuff. there are deals to be had but plan on losing 50 auctions for every one that yu get a fair price on.

the ONLY way you can make any money is to pick it up yourself. The bases have a VERY few 2-3 transit companies that are allowed to pickup for shipment. they WILL rape you. for example i was looking at getting a lot of 20 bayonettes shipped from lejune to birmingham. shipping was going to be over 150.00 and HAD to come ground freight. wasn't worth it.

We did make good on sleeping bags and molloe packs though. LOTS of them on 1 pallett and no one generally bids on them because they are bulky to store for long periods of time.

for the record exactly 2 of their palletts will fit in a full size pickup truck.

Posted: 10/31/2006 4:46:08 AM EDT

[#10]

oh yea,

they also tack on a fee at the end of the auction for processing and you will pay sales tax as well. <as i recall the fee was 10% of the auction price>

govliquidation isn't as good a deal as they make it seem.

Posted: 10/31/2006 4:48:24 AM EDT

[#11]

Too many people know about it. Most stuff goes for about all it's likely to be worth to anybody. There is only profit potential in some items that need to be refurbished and you're the one who can do it.

There are exceptions, but you sure shouldn't look at their auctions as easy money.

CJ

Posted: 10/31/2006 4:52:10 AM EDT

[#12]

I never see anything close that I "need"

Saw a few thousand pounds of brass for sale at less then scrap once, but was way too much to move and far away.

[ARCHIVED THREAD] - govt liquidation auctions - potential money-maker?

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