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

BUYING RURAL VACANT (RAW) LAND AND CHEAP PROPERTY

When you buy rural land or small acreage for sale from GovernmentAuction.com, 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 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):

— You will receive your initial invoice and have 4 days to complete your due diligence and pay.
— Once paid, you will receive via email a DocuSign contract that outlines all the terms and conditions of your purchase.

If You Win – Single Payment Sale (One Up Front Payment):

— Your bid, plus a 17.5% buyer’s premium, is the total price you pay for the land.

— There is a $249 processing fee per sale. This fee covers our costs to prepare the deed, have it notarized,
and to send the deed along with a check to the county to record and transfer the property. This process typically
takes 8-10 weeks, but may take longer depending on the county and their capacity.

— Once you receive your initial invoice, you have 4 days to complete your due diligence and pay. We will email you payment instructions.

— After payment, we will email you a form and instructions to provide us with vesting information (Please see email for instructions.).
Our policy is to release the land for sale again to another party if the vesting information is not provided
within 4 business days after the original email requesting the vesting information.

— As soon as we receive your vesting information, we will process the paperwork to close on the sale.

— We ship and track your documents via FedEx or UPS.

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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 17.5% buyer’s premium, is the total price you pay for the item.
— Your purchase must be paid within 4 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

The condition and values of these assets 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 certified art experts, so please bid accordingly.

After the Sale

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BUYING RARE COINS

Before You Bid

After the Sale

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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

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