Govdeals: What Is It and How It Works?

Govdeals has emerged as a premier online auction platform, specializing in the sale of surplus government and educational property to the public. Jump in to know more.

0
227
GovDeals

Govdeals has emerged as the forerunner in the field of online surplus solutions. In their quest for additional revenue streams, numerous local governments nationwide are tapping into surplus assets—items that are abandoned, confiscated, or in excess. These assets, when properly managed, can yield crucial funds.

Over 250 cities, counties, and government entities in Georgia have identified GovDeals as the optimal online surplus solution. Renowned for its efficiency, lucrativeness, and transparency, GovDeals facilitates the sale of surplus equipment to a qualified global audience of buyers. Since its inception in 2004, government agencies throughout Georgia have conducted over 250,000 auctions, collectively generating an impressive $367 million in revenue. If you wish to know more in this regard, then go through this article in detail.

GovDeals

What Is GovDeals?

It stands as a premier online auction platform, specializing in the sale of surplus government and educational property to the public. Recognized as the industry standard in the North American government online surplus auction market, GovDeals caters to a vast clientele, serving over 13,000 agencies.

In its two-decade existence, GovDeals has overseen sales surpassing $2.6 billion, engaging with a remarkable 1 million registered buyers. As a brand under the ownership of Liquidity Services, a publicly traded company, GovDeals boasts a vast network, with over 14,000 sellers and access to more than 3.6 million potential buyers through the Liquidity Services network. The platform prides itself on delivering true market values, asserting that this approach results in higher returns for its sellers.

Services It Provides

You can count on this platform as your reliable surplus partner. It offers a comprehensive and sustainable solution for government and educational agencies, ensuring compliant and efficient management of their surplus inventory.

The Tie-up With GMA

In collaboration with the Georgia Municipal Association (GMA), GovDeals offers its members direct entry to a specialized government-centric online auction platform for selling surplus items and equipment. GMA members can seamlessly access the GovDeals marketplace without navigating through extensive RFP processes. Moreover, our exclusive partnership with GMA leads to reduced fees, enhancing your overall cost savings.

How The GovDeals Surplus Auction Works

We already know that it is a dedicated online auction platform tailored for the resale of surplus items, equipment, and assets by government agencies, educational institutions, and public entities. Government and municipal organizations leverage GovDeals to auction off surplus items they no longer require, spanning from small office equipment to larger items like vehicles or heavy machinery.

The typical GovDeals surplus auction unfolds as follows:

Listing Items:

Government agencies create listings for surplus items they intend to sell on the this platform, encompassing a wide array of goods.

Online Auction:

Surplus items undergo an online bidding process, where interested buyers can peruse item details, and images, and place bids on their desired items.

Bidding Period:

Auctions adhere to a specified time period during which users can submit bids. Bidders have the flexibility to place incremental bids, with the highest bidder at the auction’s conclusion securing the item.

Winning Bidder:

The winning bidder is promptly notified, and arrangements are coordinated for payment, as well as item pickup or delivery

How To Access The Auction

To access the surplus auction, follow these general steps:

  • Go to the official GovDeals website at www.govdeals.com.
  • If you don’t have an account, you may need to create one. Click on the “Sign Up” or “Register” option and provide the required information.
  • If you already have an account, log in using your credentials.
  • Once logged in, you can browse the available auctions. GovDeals categorizes items, making it easy to find what you’re looking for.
  • Click on an item to view its details, description, and images. Make sure to review any additional information provided by the seller.
  • If you find an item you want to bid on, enter your bid amount. GovDeals typically uses an auction-style bidding system.
  • Keep an eye on the bidding period. You may receive notifications if you are outbid, allowing you to place higher bids if desired.
  • If your bid is the highest at the end of the auction, you will be notified as the winning bidder.
  • Follow the instructions provided by GovDeals for payment and item pickup or delivery.

Final Words

It has emerged as a widely embraced platform, facilitating government entities in the efficient and transparent disposal of surplus assets. Simultaneously, it grants buyers access to a diverse array of items, often at potentially reduced costs.

Read More:-> 5 Effective Ways to Reduce Hiring/Firing Cycles in an Organization