At least 1 in every 10 households stays in their home for the next 30 years. Meanwhile, according to a report in CNBC, the number of vehicles a person owns in his lifetime is much lower after recession. While a person trades in as many as 13 cars, today, it’s about 9. This means that the likelihood of getting a new car every 5 years is slimmer.
Many factors contribute to these statistics, and one of the clearest is the fact that the cost of living is significantly higher today, no thanks to inflation. If you can fill a cart for $50 decades ago, that amount is less than enough to feed a family the entire week.
The good news is you can be smart with regard to your lifestyle and finance. The golden rule is to always live within your means. Even the billionaires of the world adhere to such mantra. You can also join GSA Auctions.
GSA stands Government Services Administration. One of their obligations is to help dispose the federal and state assets, which can range from vehicles to electronics such as a Mac, an LV bag, etc. Sometimes they also get rid of immovable properties such as land or a building.
Why do they do that? You may ask. The answer is simple: it’s costly to keep them if they’re not being used or generating them money. Take, for example, a hardly used old cabinet in your home. The more it stays there, the more it only gathers dust. Wouldn’t it be better if you invest in something new that is functional and keeps your other things organized?
The government actually has different types of assets:
- Surplus
- Seized/repossessed
- Forfeited
- Excess
These properties may come from government agencies as well as from schools, health care facilities, police force, and other groups that are being handled or managed by the government.
Why Is It Smart to Buy in Them?
Buying in GSA auctions is a smart move for anyone simply because it gives you the opportunity to spend significantly less for an asset that you like, whether it’s a real estate, a car, or an electronic. In fact, it’s possible that you can get it at more than 90% their book value price, saving you a lot of money than getting the assets elsewhere. Moreover, the minimum bidding price is usually low. A 2007 Lexus can have a minimum bid price of only $2,000+.
Although these items are sold as is, since they are kept by the government, they are expected to be well maintained. Besides, if they want bidders for the item, they have to make sure they are worth bidding for.
Most of these auctions happen online, so you just need to open an account, which is for free, and start bidding. Don’t forget to take note of the rules, particularly during bidding. For instance, its new regulations limit credit card transactions to $24,999.99 only. Meanwhile, if you want to see the items before bidding, you can join the offline sales.
