In a message dated 1/24/02 2:02:58 AM Central Daylight Time,
Recovry4x4@aol.com writes:
<< As an interesting foot note, the cost
of my trailer to GL was $3.87 as indicated on the SF97. At that price,
I'll
take 1000!
>>
As many of you may or may not know, bid results of DRMS auctions are posted
to the DRMS website for a period of months after the sale. Contrary to what
allege, all the reusables (including trucks) were auctioned last year as one
lot. That sale is known as Commercial Venture II. The company we know as
Government Liquidation was the high bidder on that sale, and the bid results
were posted (from memory, there was only one or two other bidders, probably
due to the enormous sum of money it would take to capitalize this type of
business). I didn't think much of it at the time, so did not print out the
bid results (these results are still available from DRMS, but since the
normal time period has passed, there is now a research fee involved). As I
recall, the fee paid by GL to DRMO when property is delivered and title
transferred is 2% of the acquisition cost. THEN, when the property is sold,
GL pays the DRMO 80% of net proceeds. That is why you see absurdly low
prices on the SF97, because it only reflects the initial payment.
It will be interesting to see how this all works out....as an example...I
recently bid on a mobile machine shop (unsuccessfully, anybody know who got
it) that GL sold. Government acquisition cost was something like 155000
(came originally with a lot of machine tools, now missing), so GL had to pay
up front something like 3100 for this truck. It sold for 1650.00....looks
like GL made out like bandits on that one.
later,
David Doyle
This archive was generated by hypermail 2b29 : Wed Feb 06 2002 - 11:49:33 PST