Jun 16, 2005 -- Legit government auction sites
You’ve probaly seen the pitches on the Internet and late night TV about how to get rich through government auctions. They sound so exciting, but all these people want to do is take your money. There are some legitimate sites, however. Consumer Reports’ newsletter, “Money Advisor,” lists the sites at federal and state auctions. The best part is that they are free. You have to do a little digging at these sites, but you can find some great deals. Are you going to get a Porsche for $50? Not likely. What happens is there is government minimum set on the items, which are typically seized or foreclosed items. If that bid is not reached, the organization can reject all of the offers and the bidding starts again.
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