Remarketing

Calif. Vehicle Auction Brings in $1.1M

October 27, 2014

The State of California’s Oct. 8 vehicle auction brought in $1.14 million for 428 units. The equipment ranged from a 1969 Zodiac boat that sold for $400 to a 2009 Suzuki ATV sold for $3,100. The vehicle that sold for the most was a 2001 International truck flatbed, which brought in $25,000.

This is a typical amount of vehicles sold and revenue earned at the state’s Northern California auctions, said Michael Liang, assistant deputy director Department of General Services (DGS).

Revenue from vehicle auction sales are returned to vehicle owning agencies, minus a DGS administrative fee for overhead expenses, Liang said. Individual departments can use this money at their discretion.

The DGS holds auctions at its Davis, Calif., facility every three months. Although staff do not count the exact number of attendees, the DGS estimates several hundred attendees showed up.

DGS has been holding vehicle auctions at its Northern California facility for more than 20 years and started holding vehicle auctions in Southern California in 2011.

Related:

Remarketing: From Local Auctions to an International Marketplace

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