Online Auctions Paying The Bills

We know times are tough around the country. People are freaking out at the possibility of not having enough money for rent or food-if not for just themselves, then their family. The reality is that people are looking for side jobs more and more as the months pass. Any extra source of income can really make the difference when you are struggling to pay bills. For some, auctions-specifically government auctions-are a key source for getting them some extra cash at the end of the week. This article will be a helpful guide to some of the most prevalent auctions out there: online government auctions.

When people think of government auctions these days, they usually picture the large group of people standing in front of a storage locker yelling at each other to get their hands on someone else’s hidden treasures. Though typically, a ton of seized and surplus government auctions are done strictly through the web. Online auctions have been sweeping the auction block and people are loving them because they don’t need to leave the comfort of their homes.

If you are new to all this, you are probably wondering what a seized or surplus auction is. Here is a quick breakdown. A seized item can be something that is confiscated by a government entity and put up for auction. A surplus group of items are usually from a part of the government that has an over surplus of one or more items. These items are usually sorted and marked for auction. The public then has the ability to head down to a live auction or utilize the Internet for an online auction to bid on these assets.

Online auctions are much more accessible for a large majority of people around the U.S.. What it comes down to is time management. Do you have the time to run down to your local courthouse? Can you leave work for a day and attend one of these live auctions that normally fall on weekdays? Typically, the answer is no. Most people have a ton of work and personal affairs that need to be attended to before any purchasing of bidding of items can be done. This, for the most part, is the reason online auctions were implemented.

Now that you know what these online government auctions are, you will want to know what you can do with them and how you can make some extra money. These auctions are great for picking up goods that people desire and flipping them for a fantastic reseller’s profit. If a car is seized, and it’s in great condition, you might be able win the auction for well under market value. After that, you can resell this item and collect the balance. If you go to a surplus auction and pick up a lot of items, then you can either break up the lot or sell the lot as a whole. Breaking up the lot can be extremely profitable. You can purchase the group of items for a fraction of the retail price and then sell each item one by one.

You should figure out the correct avenue to unload the goods you planning on bidding on. A couple of easy ways to sell items is eBay or Craigslits. Those two tools can be very useful when it comes to flipping auction items for a profit. EBay charges seller fee, so you might want to consider ulterior sources. You might be able to sell items directly to a single person or even a retailer. Do your research prior to the actual event and you should be good to go. Don’t be scared to check a couple auctions before you actually make any bids. Test the waters and see what items are averaging for. Good luck!