Are you thinking about buying or selling at a Phoenix police seizure auction? This article is designed to provide you with the details on police auctions and how you can get a steal on goods that have been confiscated by the authorities. Specifics may vary from auction to auction; however, the following information includes helpful and important guidelines from which everyone can benefit.
Have you ever wondered what happens when the bad boy's loot falls into the right hands? What happens to hot property - stuff that's been stolen - when nobody knows who it belongs to? It may come as no surprise that it's sold to the highest bidder!
Phoenix, Arizona, also known as the Valley of the Sun, is a place where the sun shines more than 300 days a year. And as they say, some like it hot - but that's not just the temperature in the desert! Phoenix police seizure auctions feature hot property - stuff that's been stolen or seized by the cops draw crowds of bidders who hope that some of the stolen stash might be sold at bargain basement prices.
Phoenix police seizure auctions are a place where crime doesn't pay - unless you're looking for a steal on goods that have been seized by the authorities. Police auctions can feature everything from cars, tools, electronics, jewelry, sporting goods and coins to commercial heavy equipment, real estate, antiques, guns and more. Many police auctions also include items from federal bankruptcy trustees, state governments and county agencies.
So, what's the best thing about Phoenix police seizure auctions? No buyer's premiums! That literally means that you will only pay the price of the winning bids you place plus sales tax (if applicable) and shipping if you choose not to pick your item up directly. When an auction doesn't charge buyer's premiums, there are no fees charged to bidders who are not winning buyers.
Buyer's premiums are increasing in popularity and yet, have created significant industry controversy. Many unethical auctioneers use buyer's premiums to underbid their competitors and to increase their profit margins at the seller's expense. They fail to mention the buyer's premium in their auction proposals but have every intention of adding them on sale day.
Additionally, a surprising number of sellers do not attend their own auctions. Many sellers may never realize an undisclosed buyer's premium was charged at their auction. If buyer's premiums were prohibited, buyers could help police the unethical auctioneers by alerting sellers to undeclared buyer's premiums being charged at their auctions. However, if even a small percentage of auctions charge legitimate buyer's premiums, unethical auctioneers are free to add buyer's premiums to every auction they book.
When buyers reduce their bid prices to compensate for buyer's premiums, the seller's revenue is negatively impacted - a fact rarely shared with the seller. The only way an auctioneer can be completely honest is to inform the seller that at least 70% of the buyer's premium is additional auctioneer commission. It is the rare auctioneer who makes such an up-front announcement. If an auctioneer is not totally forthright about the nature of a buyer's premium, they introduce an element of deception into their seller relationships.
Author Resource:-
Deb Weidenhamer is President of Auction Systems, the Southwest's most active auction and appraisal company. Visit us online at Auction Systems, or call 800-801-8880 for more information.
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