Spring Lake Surplus property for online auction
Published May 23rd, 2006
The Spring Lake Board of Aldermen approved an agreement Monday with GovDeals to post future sales of property on its Web site.
GovDeals, based on Alabama, has set up an online auction site for governments to sell such things as used equipment and vehicles.
Finance Director Allen Coats told the board the venture has proven successful for other municipalities.
He said instead of holding an auction with only 10 to 15 people present, the town will have access to thousands online, which could generate more money. The company’s site is used by more than 100 local governments.
Under the agreement, the town will be responsible for marketing, listing property information and all financial transactions.
GovDeals Inc. will be responsible for the auction server and training.
The online company will charge a fee based on the amount of the sale, starting at 7.5 percent on an item that sells for less than $100,000, but more than $5.
