Uncle Sam's Retail Outlet

[cbear]

Does anyone know if GL is bidding against the public for the inventory for the retail outlet, or do they never send those items to auction? I would think GL would have to pay something upfront to the Gov't, in order to fulfill there contract.

Please only respond if the process is known. Otherwise, I'm sure this thread will blow up quickly.

 

[Warthog]

I do not think anyone knows for sure. The best place to find out is to ask GL. But I don't think they will tell you anything.

 

[gimpyrobb]

My memory says you will be up there tomorrow. Check it out if you have time. 98% of what they have is over priced, but there is one or two items that are good deals. I will be up Monday.

 

[cbear]

Gimp, you are correct. I stopped by on Friday and asked them. They said they are given a heads up on incoming items, to see if they want them at the outlet. If they do, it gets pulled before they list it for auction. Not sure how that works out with their Gov't contract, but that's not my problem.

 

[NEIOWA]

There is a new contract that started in Dec with Liquidity Services (govliquidation.com) selling nonrolling stock equipment. Iron Planet won contract to take over anything with wheels. You'd have to get into the weeds on the details of the old or new contract terms to find the particulars regarding operation of a retail store. Appears as soon as they take possession of the surplus equipment they OWN it.

http://www.marketwatch.com/story/li...non-rolling-stock-surplus-property-2014-07-30

<I>Under the terms of the new contract, Liquidity Services will pay DLA approximately 4.35% of DoD’s original acquisition value (OAV) for all items referred, including an upfront payment of 0.5% of the OAV and a backend payment of 3.85% of the OAV after 120 days. Liquidity Services will retain 100% of the profit from the resale of the property and bear all of its costs for the transport, storage, merchandising and sale of the property. DoD usable non-rolling stock surplus property will continue to be offered for sale through Liquidity Services’ online auction marketplace, www.govliquidation.com. </I>

 

[cbear]

So then there shouldn't be a 10% buyers premium anymore, but I doubt that will happen.

 

[FloridaAKM]

Remove the 10% buyers premium & they will add it in somewhere else to the mix or increase it higher...