Customs auctions are places where you can pick up bargains providing you do two things right. Firstly know where to find them and secondly know what to do when you get there.
If you search for the term in a search engine you’ll see that there are a lot of government sites listing some of the sales, which by the way are almost always at public auction.
The major problem with using this method is that most of the information on sales can be up to 18 months old which is of no use to you!
What are Customs Auctions?
Customs auctions are great places to pick up really good bargains which can include imported motor bikes to beds that need assembling. A buddy of mine bought 900 bed frames for $1,100. These included brass models as well as black frame metal models. I know that he made quite some money on this deal as he paid off his car loan in one hit! However I do know that he went to several of these auctions before he got the opportunity that he was looking for.
One lady bought a consignment of 60 model airplane kits including engines for $450 she said she was going to pay someone to put them together and she reckoned that she was going to make about $50 on each – not bad for a days work!
I could go on and on as there are so many examples of people making a good living going to these sales. The strange thing is that few people know about them and even less want to know so it makes it ridiculously easy for those of us who want to make a quick honest buck! There is a catch though and this is important to note. The goods are sold on a cash basis.
Government auctions that are organized by the Department of Homeland Security will expect you to pay $5,000 cash on the day if the goods purchased reach that amount or go over it. This means that you should do your homework beforehand and if you do go to one of the auctions come prepared – find out before you go what their payment terms are!
Where do I find current Customs Auctions if the information is old?
The best method I have come across for finding customs auctions is to look for and join a membership site that lists all the current auctions, what type of auction it is i.e. repossession auction, car auction and of course customs auctions. What you will find is a ‘search facility’ that will save you a lot of time in finding the type of auction that best suits your needs.