Which Type of Auction is Best for You?

US Treasury Auction

You’ve been bit by the treasure hunter’s bug and you’ve made the rounds at storage auction circuits, but you can’t seem to win a locker.

It’s too much competition due to the popularity of A&E’s series Storage Wars.

Or because of the crowds, the prices of the lockers are too rich for your pockets.

It’s frustrating.

You think that maybe treasure hunting wasn’t such a good idea after all.


But do you know about the other types of “auctions” that might be a better fit for you?

Local Auctions

Usually small held at an auction house, warehouse, thrift store, or wherever there’s space. I’ve attended small local auctions in Texas and have seen items such as jewelry, neon signs, furniture; you name it, up on the auction block. Don’t knock it because it’s small.

Police Auctions

Sell of seized vehicles might be of interest to you. You need valid driver’s license or valid state identification card with date of birth to bid at the auction. If you hit a day when the crowd is small, you may be able to buy a car at 10% of the market price. Seriously!

Estate Auctions

Usually occurs when someone dies and surviving family members must sell their entire belongings because of taxes, debts, or for whatever reason. Everything in the house including furniture, art, household goods, will go up for auction. Maybe even the house itself.

I went to an estate auction in Texas and saw two small vases made of pure jade sold for practically nothing. Why? Not many people attended that particular estate auction.

Treasury Auctions

About 300 auctions are held each year throughout the US and Puerto Rico by the US Department of Treasury.  Up for auction is property seized by lawbreakers or forfeited by citizens who didn’t pay their taxes.

At treasury auctions you’ll find small items such as jewelry, electronics, and apparel. And large items such as as vehicles, boats, aircrafts, industrial equipment and real estate.

Anne Hathaway’s jewelry bought by her ex-boyfriend Raffaello Follieri went up for treasury auction. Why? He paid for the jewelry with money from illegal activities, therefore it was seized by the government. Sad for her but someone bought fine diamonds on the cheap. Treasury auctions take place in empty room. No phone banks or online bidding permitted.

Other types of auctions include: Cattle, Real Estate, Private, Trustee, Online Storage Auctions (such as this site) and so on…

If someone forfeited the property or it was seized, it will go up for auction. Same principle when someone defaults payment on a storage unit. That locker goes up for auction.

If you have been bit by the treasure hunting bug, then you just have to figure out which “type of auction” is right for you.

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Chuck G.

Freelance writer, blogger, screenwriter, short film script writer & producer.

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