Conditions for Personal Property Sales

Sorry! There are no giveaways.

Stories about $100 yachts or exotic cars sold for little or nothing are pure fiction. GSA expects to receive a fair market price, and every item has an undisclosed minimum price. Tax dollars were paid for these items when they were new, and GSA expects to receive the best possible return on the tax dollar when they are sold.

No Guarantees

GSA does not guarantee the condition of the sale items. Customers have an opportunity and are encouraged to inspect property prior to sale, and GSA will inform a customer of any deficiencies of which GSA is aware. However, GSA is not responsible for any problems that may be identified after the sale.

GSA sells used personal property according to the U.S. Government's Standard Form 114C April 2001, "General Sale Terms and Conditions." Customers may ask to review a copy from any of the GSA regional Sales Offices. Please study carefully the terms and conditions in the Invitation for Bid and in any notices provided at auctions and other sales and be sure that any special terms are understood.

Payment is restricted to the following instruments:

• U.S. currency (no greater than $10,000);
• Bank cashier's check;
• Credit union (cashier's check issued by a federal or state chartered credit union);
• U.S. Postal Service or commercial money order;
• Traveler's checks;
• U.S. federal, state, or local government checks; and
• MasterCard, VISA, Discover (Novus), and American Express processed manually or online through the Department of Treasury, Pay.gov.

Certified checks, bank drafts, and debit cards with dollar limitations and/or requiring a PIN Number, are not acceptable. All checks and money orders must be made payable to the GSA. A personal or company check will be accepted only when accompanied by a bank letter guaranteeing payment. The government does not provide any form of financing. This letter must be on a bank letterhead and must state:

• Payment is guaranteed;
• Guarantee is valid for 30 days after the bid opening date; and
• Guarantee covers the purchase of U.S. government personal property only.

The letter must include the:

• Date;
• Bidder's name;
• Amount the guarantee is for;
• Date of sale; and
• Signature of a bank official authorized to guarantee payment.

Purchasers are required to remove their purchases within the time prescribed for each sale, but merchandise cannot be removed before payment is made. Removal is the purchaser's responsibility. If a purchaser fails to pay and or remove the merchandise by the prescribed deadline, the government will take action to collect damages ($200 or 20 percent of the purchase price, whichever is greater).