Want to Buy an Item at One of Our Auctions? Here’s How To Buy Land, Jewelry, Loose Stones, Precious Gems, Fine Art, Rare Coins, and Sports Memorabilia

Buying at auction is easy, but when you buy land online, you should know what to do before you bid and what happens if you are the winning bidder. Whether you are purchasing raw land or big land from GovernmentAuction.com or other assets such as jewelry, fine art, rare coins or sports memorabilia, here are a few things to know to get you started.

Purchasing raw land and property
Buying jewelry, loose stones, precious gems
Buying fine art such as prints, bronzes, sculptures
Buying rare coins
Buying sports memorabilia

HOW TO BUY RURAL VACANT LAND AND CHEAP PROPERTY

When you buy rural land or small acreage for sale from GovernmentAuction.com, you are participating in an auction for the cheapest price, and the highest bidder wins the right to purchase the land. If yours is the winning bid, you will pay for the land in one of two ways:
• You will finance the sale and make monthly payments on the land until it is paid off.
• You purchase the property outright and pay one lump sum at the time of closing.

Each type of sale is disclosed in the auction description.

In addition, some rural land is offered for immediate purchase at a cheap pre-determined (reserve) price (Buy It Now auction). If you bid that reserve price, the auction is over. Buy It Now purchases may be financed or paid for in one single payment.

Before You Bid

Before you bid on cheap rural land, be sure you have done your research, or due diligence, on the land you intend to buy. Make sure you have all the details, such as

• Assessor’s Parcel Number (APN)
• Parcel size
• Location
• Time limit to build
• Power
• Water
• Phone
• Sewer/septic
• Roads
• Dues
• Taxes
• Terrain
• Zoning

Each of our listings may contain some or all of this information. You can use the APN to call the county assessor’s office and obtain additional specifics about the land. If you do not see a phone number for the assessor’s office in the listing, you can find it in the Due Diligence section of our web site.

In addition, we urge all prospective buyers to physically examine the land, if possible, prior to bidding and purchasing raw land.

If You Win – Financed Sale (Monthly Payments):

• Your bid is a down payment and will be subtracted from the total cost of the land.
• Assumable monthly financing is provided by GovernmentAuction.com at 8.5% interest.
• There is a $249 processing fee per sale unless otherwise noted in the details and a 19.5% buyer’s premium on your intial bid amount only.
• We will email you payment instructions and a form to provide us with vesting information (please see email for instructions). All initial payments are due in 3 days or our policy is to release the land for sale again to another party.
• As soon as we receive your payment, we will process the paperwork and land contract and forward to you.
• It takes approximately 6 to 8 weeks to complete the paperwork and for you to receive it.
• We ship and track your documents via FedEx or UPS (you will receive a land contract and additional information about the property).
• You receive your deed plus free and clear title when the land is paid off.

If You Win – Single Payment Sale (One Up Front Payment):
• Your bid, plus a 19.5% buyer’s premium, is the total price you pay for the land.
• There is a $249 processing fee per sale.
• We will email you payment instructions and a form to provide us with vesting information (please see email for instructions).
• Send electronically or mail your lump sum payment, processing fee and vesting information to us within 3 business days or our policy is to release the land for sale again to another party.
• As soon as we receive your payment, we will process the paperwork to close on the sale.
• It takes approximately 6 to 8 weeks to complete the paperwork and for you to receive it.
• We ship and track your documents via FedEx or UPS.
• The package will contain the property deed, free and clear title and information on how to record the property (enter it into public records).
• You will need to record the property in the specific county in which the property is located. We cannot record the property for you; you must do this yourself. It is essential for you to record the property so that you are registered as the new owner and assume the next years’ property taxes that will be due.

BUYING JEWELRY, LOOSE STONES, PRECIOUS GEMS

Before You Bid

GovernmentAuction.com utilizes Retail Replacement Value Appraisals (the most common type of jewelry appraisal). This would be the cost to replace the jewelry with an item of equal quality and kind, considered to be the current market price or the replacement value.

This type of appraisal is written for insurance needs – to protect you in the event of damage or loss of a valuable item. Our appraisals are conducted by an independent third party appraisal firm that utilizes Certified GIA Gemologists.

Appraisals should be used for verification of gemstone and/or metal weight, size and grade only, not actual value. Appraisal value should be considered for insurance purposes only, not actual value, as price varies greatly from retail locations throughout the world. Items should not be purchased with the expectation to resell for appraisal price or for profit.

After the Sale

If yours is the winning bid:
• Your bid, plus a 19.5% buyer’s premium, is the total price you pay for the item.
• Your purchase must be paid within 3 working days or our policy is to release the item for sale again to another party.
• There is a shipping and insurance fee per sale. This fee will vary per item.
• You will receive your item when we receive payment. We ship and track all merchandise via FedEx or UPS.
• The buyer’s premium and shipping/insurance fee are non-refundable if the item is returned, except if the error is ours.

BUYING FINE ART SUCH AS PRINTS, BRONZES, SCULPTURES

Before You Bid

Our artwork comes to us for immediate liquidation from various estates, foreclosures and bankruptcies. The condition and values may vary from lot to lot. We make every effort to include all pertinent information and descriptions, but keep in mind that we are not artwork experts, so please bid accordingly.

After the Sale

BUYING RARE COINS

Before You Bid

Our coins consistently sell for 30% to 60% of the estimated value. Many of our coin pieces are acquired from bankruptcies, estate sales, foreclosures, and various government agencies.

After the Sale

BUYING SPORTS MEMORABILIA

Before You Bid

The condition and values of the sports memorabilia we offer may vary from lot to lot. Many lots have been professionally graded by independent grading companies, but we strongly recommend that you make your own determination about an item’s grade. We make every effort to include all pertinent information and descriptions, but please keep in mind that we are not memorabilia experts, so please bid accordingly.

After the Sale