Police auctions provide an outlet whereby various goods which are or have become the property of the Government are sold off to the Public. The origin of the goods is varied, which impacts on their condition and also the care which needs to be taken in bidding for them and ultimately purchasing them. However the possibility of a bargain guarantees continuing interest in these auctions.
The price of goods sold at a police auction is generally attractive. This is for two main reasons. Firstly because the Police themselves start the bidding low and are motivated to sell because of the expense of storage. Goods are constantly coming in, and they need to clear out what they already have on their premises to make room.
The second reason is that some of the goods are defective in fundamental ways (such as cars lacking ignition keys) and/or have a history which might rear its ugly head in the future.
A Police auction online may or may not offer premises which the buyer can visit to inspect a possible purchase prior to bidding. Online bidding can be offered as an alternative for those who are unable to attend the auction proper – as with Turners Auctions, or the auction may take place entirely online. The latter type is well represented by http://www.policeauctions.com and http://www.propertyroom.com
Both PoliceAuctions.com and PropertyRoom.com are examples of free online police auctions. In order to participate in them, it is necessary to register and create an account, consenting to the terms of use. The account is used to pay for any item which may be purchased. PropertyRoom.com has very helpful information sections; the equivalent information on PoliceAuctions.com is mostly inaccessible to those who have not already registered.
A member can browse through the categories, select an item that interests them, log in and place their bid. A digital count-down indicates how much time is left before the bidding closes. Many of the items are relatively small: jewelry, memorabilia, coins, fossils, toys, although there are many other categories and sub-categories including cars.
PropertyRoom.com offers a Wish List service whereby a member can request a particular item, or class of item, and be notified by email when something fitting the description comes up for auction. Their Watch List allows the tracking of sold items without the need to be watching when the auction closes.
Apart from the traditional auction format where the highest bidder wins, online Police auctions include Reserved Price auctions where the (undisclosed) minimum price needs to be met, and Fixed Price auctions which are indicated by a ‘Buy Now’ button rather than a ‘Bid Now’ button.
The main disadvantage of online Police auctions and indeed any online auction is the lack of facility for personally inspecting an item prior to bidding. PropertyRoom.com gets round this to an extent by allowing an interested party to click on ‘Ask a question’. Someone in the warehouse then physically checks for the information and responds within 24 hours or less. The question and the answer are posted for other potential bidders to see. On the downside, PropertyRoom.com have a strict policy regarding returns whereby the purchaser assumes all responsibility for the auction they have won, and a return is usually only accepted when a gross error has occurred such as the shipping of the wrong item.
