Arizona Seized Property Auction: Buying Seized Property at Auction

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Arizona Seized Property Auction  Buying Seized
Property at Auctionby Deb Weidenhamer,Preside
nt CEO
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Summary

• An Arizona seized property auction offers many
  benefits for attendees.  Buyers can find a wide
  range of items at auction, usually in excellent
  condition.  And the items are priced well below
  market value, often for pennies on the dollar. 
  You can find an eclectic assortment, including
  autos, recreational vehicles, electronics,
  jewelry, furniture, tools, antiques and other
  collectibles. 
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• Auctions offer something for every
  attendee.  Some people attend auctions to save
  money on items they need or want.  Others look to
  make money by reselling items they get at
  especially low prices.

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Whats Seized Property?

• Numerous government agencies seize property,
  including federal, state and local agencies and
  police departments.  The property seized could be
  confiscated from people breaking the law or
  unclaimed after an investigation concludes.
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• When a person is arrested, his or her
  personal property may be seized to use in the
  criminal case.  Legally, law enforcement can
  seize any property used in connection with a
  crime.  They can also seize property purchased
  with money gained illegally.  If the person is
  found guilty, the agency auctions the seized
  property to the public and retains the proceeds.
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• Each government agency is responsible for
  conducting its own Arizona seized property
  auction.  Generally, these agencies contract an
  outside auction service to manage all the
  activities associated with an auction.  You can
  visit the agency or auction house web sites for
  schedules and terms.

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Ensuring the Best Auction Experience

• Knowledgeable bidders often save 50 to 90 on
  seized items at auction. Because these auctions
  are public, anyone can attend and get these
  savings.  You just need to know when and where to
  goand bring along some knowledge!
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• Although its a good idea, to know what
  you want from an Arizona seized property auction,
  its also important to remain somewhat flexible. 
  You may see something you didnt expect at a
  price you cant pass up.  So, have a plan, but
  remain flexible to new opportunities.
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• Most auction houses provide an inspection
  period.  Make sure to take advantage of these
  opportunities.  You can check out the items you
  want to purchase before you bid. You may see
  something you not on your list that interests
  you.

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Ensuring the Best Auction Experience

• If youre inspecting an item you have
  limited knowledge about, bring someone along who
  has more expertise.  If you dont have access to
  an expert, put the effort into some research so
  you know what to look for in terms of quality and
  price. Bring note paper to write down product
  information that you can research via the
  Internet when you get home, where you can easily
  find comparable prices.
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• If you know the value of an item, you can
  bid confidently up to the price youre willing to
  pay.  Make sure you set a price ceiling and dont
  let your emotions take over your rational thought
  processes regarding any item.  Youll always have
  another opportunity to pick up a good deal at an
  Arizona seized property auction.

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Ensuring the Best Auction Experience

• Finally, find the right balance between getting
  a good deal and making an investment in your
  purchase.  To get the best deal, you have to be
  very knowledgeable about each particular item and
  the auction processes.  This knowledge comes with
  research and experience. 
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• So, understand the time commitment
  involved in getting a good deal at auction.  You
  need to research, inspect, register, attend and
  maybe come home empty-handed.  All this time
  should be factored into the amount youre willing
  to spend for an item. Remember, when you buy at
  auction, the items are non-refundable. Items are
  sold as-is, where-is, with no guarantees or
  warranties.

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Additional Tips

• You may want to get to know auction terms before
  bidding.  In addition to collecting as much
  online information as possible, you may want to
  attend an auction or two just to get the feel of
  things.  The more knowledge and experience you
  have, the better chance you have of getting the
  best deals.
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• Youll be competing with very experienced
  bidders, including investors, resellers and very
  smart buyers.  Many of these bidders have been
  attending auctions for a long time and making
  money at it.
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• Join the mailing lists for auction houses
  who conduct Arizona seized property auctions. 
  You can learn the dates for upcoming auctions, as
  well as preview items that may be of interest.
  Then, you can be notified of the inspection
  times.

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About the Author

• Deb Weidenhamer is President of Auctions Systems
  Auctioneers Appraisers, Inc., based in Phoenix,
  Arizona. They specialize in auctions and
  professional appraisals. Visit us at
  http//www.auctionANDappraise.com or call
  800-801-8880 for more information about Arizona
  seized property auctions.