TAMU > Finance > Logistics > Surplus Property> Surplus Property Auctions

Surplus Property Auctions

Auctions

There are four types of auctions:

  1. Live Auctions
  2. Combined Live and online Auctions
  3. Online auctions
  4. Sealed Bid Auctions

Please handle TAMU property with care. The better condition your product is in the more value it has to Texas A&M University.


Live Auctions

These are auctions where an auctioneer sells items to the highest bidder present at the auction location. Payment can be made with cash, credit-card, check or money-order to the auction company that is conducting the auction on TAMU's behalf.


Live-Online Auctions

In these auctions, online bidders bid in real-time against live bidders on the auction floor.

Currently all on-line auctions for TAMU are serviced by Lonestar auctioneers. Their website link is www.lonestarauctioneers.com


Online Auctions

In these auctions, the online bidders bid against each other in real-time on the public site until the date and time that the lot closes. In all online auctions, bidders are automatically notified by email when they win a lot.


Sealed Bid Auctions

These can be created at the Surplus Property Office. The auction has a closing date and time, and bidders can place mail-in bids. The bids cannot be seen by the Surplus staff until after the date and time of closing. At that point, the surplus staff can enter any mail-in bids to record all bids in the system, and then select the winning bidder. Tie winners can be called on the phone and asked for a tie-breaking bid. These bids are also recorded in the system.


Sales

Sales types include:

  1. Online Auction sales (winning bidders)
  2. Live Auction Sales (winning bidders)
  3. Special Bid Sales (winning bidders)
  4. Retail Sales (to the public)
  5. Department Sales (to university departments)
  6. Agency sales (to outside agencies, other universities or government agencies
  7. Trade-in (approvals)
  8. Recycle sales
  9. Trash sales (or costs)

Online Auction Sales

These are transactions for winning bidders of online auctions. These transactions can take place at the Surplus Property Office when bidders are picking up their lots, or they can take place online. Accommodation is made in the system for shipping lots to winning bidders if necessary. Payment is taken by check/money-order. Receipts can be printed and emailed to customers.


Live Auction Sales

These are transactions for winning bidders of Live and Live/Online auctions. By simply clicking on a name in the list of winning bidders, the invoice is automatically created for all lots won by the selected bidder. Payment is taken by credit-card, check/money-order, or cash. Credit-card transactions are processed online in real-time. Receipts can be printed and emailed to customers.


Special Bid Sales

These transactions record the settlement of bidders who win sealed-bid auctions. Payment is taken and credit-card transactions are processed online in real-time. Payment is taken by credit-card, check/money-order, or cash. Credit-card transactions are processed online in real-time. Receipts can be printed and emailed to customers.

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