Police auction crowds have definitely increased over the years. Once thought of as an after thought, now days, people will wait in long lines for hours at a time to get a preview of what’s coming. It may be the economy which has bred a whole new brand of bargain hunters from the young to the old. Or possibly, people are becoming more aware of the possibilities of purchases at an auction. Whatever the reason, police auctions are the latest craze in finding a great deal, or maybe even something rare and coveted.

Here are some quick informational tips to attending and bidding at a police auction in your area.

Who and Where?

Police auctions can either be run by the department itself, or in larger cases, a reputable auction company. There are laws in most jurisdictions that deal with how the auction will be run. The auctioneer must publish a full description of the items to be auctioned, as well as the date, time and location of the auction. The publication should also include payment terms, and pick up times for winning bids. It must be placed in a major newspaper in that jurisdiction, allowing for full knowledge and planning for the event.

How Did the Items End Up at a Police Auction?

These items are typically seized, forfeited, or found. They are not privy to details and specifics of where the items originated, but it allows for the possibility of every imaginable item allows for an eclectic array of products to be showcased

When it comes to seizures, states and local governments have given law enforcement the power to seize any and all property related to a crime or illegal activity. Once the property is proven to be part of an illegal activity, it is confiscated and then resold to the highest bidder. That seized property can be as small as a coffee maker and as large as a house.

Another reason items end up in police auctions is ‘unclaimed property’ or found items. This is property left behind on transit buses, at local institutions like libraries and court houses and valuable stuffs found around jurisdictions. You would normally have 90 days to claim it, after which it goes in to the auction.

What is the Protocol for Police Auctions?

All items are sold to the highest bidder and paid for immediately on premises. There will also be sales tax added to the final sale price, so be aware, it adds up. All sold items are sold ‘as is’. There are no warrantees on anything sold at auctions, police auctions being no exception. You cannot return items, and no money will be refunded.

How to Bid?

It’s always best to go to the preview viewing of the items up for auction. Once you have an item in mind, do your research. First check the condition of the item up for auction, then research how much the item sells for new and used to have a good idea of how much you are willing to bid. You will need to register in order to bid. Most police auctions have a small fee for registering.

Warning to the Wise

I love going to auctions, and am a big supporter of police auctions in particular. But I feel I should warn you that police auctions are notorious for bringing out the inexperienced and impulsive buyer. Don’t be one of those people who get caught up in the fever of bidding and end up paying more than retail. It happens more often than you may think. To get the best deal on your most cherished items always preview auctions, research and study price points, set a maximum bid price and never, ever waiver. And maybe bring a buddy who you trust to keep you in check. It takes a lot of willpower to stop bidding once you get in the rhythm, but a good friend will always tell you when to stop when you can’t.

Good luck and enjoy the excitement!

Author Bio: Visit http://www.madisonsauction.com for collectible auctions, appraisals and liquidation and bankruptcy.

Category: Society
Keywords: auction,auctions,collectibles,antique furniture,tools