Start a Business Selling Government Surplus
Did you ever wonder what happens to all that government equipment that is purchased each year by federal, state, and local governments? They don't just throw it away! By law, all unused and out-dated equipment must be sold back to the public at a public auction! That's right. Everything is available to you and I the American taxpayer. There are primarily two ways that the government does this: on- site auctions or online auctions.
At an on-site auction, the government agency disposing of the property must usually post a public notice about the auction such as the location, date, time, and items to be auctioned off. There is usually an inspection period, especially if there are high-priced items that are to be auctioned off. Bidding is usually open to anyone, but you generally must pre-register on-site at the auction to bid. On site auctions may include items like used vehicles, boats, aircraft, computer equipment and military surplus. Some of the items are new, most are used, and a small percentage of it is junk.
Online Auctions are available to anyone with an internet connection and can be found on various website. The federal government typically uses the GSA auction site at gsa.gov/auctions. The military uses govliquidation.com. State and local governments may have their own websites. You may need to call your local government agency to find out how they handle surplus property.
The fun part is actually bidding and winning items. You can easily purchase things at 80%-90% off of retail! I personally purchased a color laser printer at 10% of it's value! Granted, I needed to drive 3 hours to pick it up and I needed to clean it once I got it home, but it works flawlessly.
The business part of the equation is in purchasing large lots of equipment. I personally buy and sell large quantities of computer and office equipment. You can purchase computer and monitors by the skid load! I resell to friends and neighbors who get a good deal as well. I can sell them equipment 50% off of retail and still double my money! The local government auctions usually have the best deals as there are typically fewer bidders competing against you. I purchased $12,000 worth of computer equipment for $65! I also picked up a conference table and beautiful retro conference chairs!
Remember though, to bid with your head and not above it. Research carefully what you are interested in and what it would bring in resale. Set a firm price in your mind and don't go over that price. Don't ever get caught up in the heat of the moment when the bidding starts going crazy! Take a step back and re-evaluate before you pay more for something than you wanted to.
Dean Novosat regularly attends local government auctions and participates online.
Much of what he wins, he resells. He has several informative websites including http://www.buy-sell-gov-surplus.com and http://www.government-deals.com.
Latest News
 Columbus Dispatch | Ohio House Speaker Budish touts regionalism in his first address WKYC-TV, OH - ... to Ohioans working in startup companies and revive Ohio's cities and Ohio's spirit of entrepreneurialism and make the state a center for green jobs. ... New Ohio House leader wants tax break |
Entrepreneurialism And The Dwarf House PWO, France - To become an entrepreneur is enjoyable when you have a passion for a business idea you are passionate about. However, if you have to become an entrepreneur ... |
PEER 1 Joins Microsoft BizSpark Program Web Host Industry Review - ... "committed to helping entrepreneurs to transform their ambitions into sustainable, dynamic businesses and to foster innovation and entrepreneurialism. ... |
Ashoka Brings Social Innovation and Entrepreneurship to ... PR Newswire (press release), NY - Due to these critical partnerships, the world's largest community of social entrepreneurs is taking social innovation and entrepreneurialism to new fields. ... |
Medley's Risk 13WHAM-TV, NY - Bob: This is the essence of entrepreneurialism, is to sell others on the risk and get them to invest in the risk. In this case, you’ve got a community ... |
 TechRadar UK | Marissa Mayer on the future of Google TechRadar UK, UK - "There was a tremendous amount of energy, scruffy entrepreneurialism and a sense of hope. We really felt we were working on something that might change the ... |
What now for Russian gold rush? Design Week, UK - 'In places like Almaty [the main commercial centre in Kazakhstan], you will find that there is a similar level of entrepreneurialism as in Moscow, ... |
It's time to get off our laurels – and innovate, innovate, innovate Globe and Mail, Canada - ... are required to spur successful innovation: access to capital; collaboration in pursuit of new ideas; and a culture that promotes entrepreneurialism. ... |
Finding Success When Going It Alone Law.com, CA - I realised that the mentality of our profession, and the conventional structure of law firms, often discourages entrepreneurialism. Decision making in firms ... |
Twirling Towards Freedom: Letter to a Disgruntled Young Republican Culture11, VA - An open market is essential to the survival of our trademark entrepreneurialism; it is also the root of our historic success. Of course, as the present mess ... |
Resources
-
Sorry there are no resources available at this time