Auction: We hold an auction when we have a large number of items for sale in one location. Many of our car and truck sales are auctions. We use traditional auction methods. Prospective bidders will receive descriptions, bidding instructions, and an opportunity to inspect the merchandise ahead of time or on the day of sale many of our sales are conducted by commercial auction companies under contract with GSA.
GSA Auctions: Online auction sales offer web-enabled auctions, a wide variety of personal property, electronic bidding, bids by proxy, and instant feedback.
Drop-by Sale: This type of sale is a combination of an auction, spot bid and sealed bid sale. The sale is advertised with inspection and bid the same day and time. Bidders must be present to participate. Bids mailed in are not acceptable. Registration is required at the inspection site to obtain a bidder's number to complete a bid card used to place bids. A secured locked container (the bid box) is placed at the sale location for placing bids. The bidder inspects the property, fills out a bid card and drops it in the bid box. The box is opened after the sale. The bid cards are evaluated and the award is made to the highest bidder. They are notified either by mail or by phone. Payment and removal are similar to a sealed bid. This type of sale is most often used when there is not enough property at one location to warrant an auction. It is sometimes known as a silent auction.
Fixed Price (Cash & Carry): At fixed-price sales (also referred to as "Retail"), we post the selling prices on the property and sell the items on a first-come basis.
Negotiated: While it is the policy to sell property after publicly advertising for bids, when circumstances dictate, personal property may be sold by negotiation, subject to obtaining such competition as is feasible.
Sealed Bid: We sell by sealed bid when the sale items are in scattered locations. For a sealed bid sale, we make an "Invitation for Bid," or IFB, available to prospective buyers through the mail, by fax on demand, or via Internet. The IFB contains item descriptions, sale terms and conditions, item locations and inspection times, and a bid form. If you decide to bid, you will complete the bid form and mail it to the address shown in the IFB. We must receive your bid by the opening date and time indicated on the IFB. Late bids are not accepted under any circumstances. We open all bids publicly.
Spot Bid: A spot bid sale is similar to a "silent auction," with bids written down rather than voiced. Property is offered item by item and awarded to the highest bidders. Bidders may bid only once per item, unless the item is re-offered.