Loudoun County, Va. (June 26, 2015) – Propelled by the success of its online auctions, the Loudoun County Surplus Store is transitioning from a bricks and mortar, fixed-price retail store to exclusively online auctions.
Since the county began selling items online in 2008, sales generated by the retail store have dropped significantly and the store no longer provides a cost-effective way to sell surplus county property. The annual sales revenue generated by the Surplus Store in Fiscal Year 2009 was $44,614, while in Fiscal Year 2014 it was $7,267. The annual sales revenue generated by online auctions for the same period increased from $208,539 in FY 09 to $498,924 in FY 14. All revenue generated from the sale of surplus property is used to offset the cost of new purchases.
The Surplus Store will hold one more monthly opening, Friday, July 17, 2015, before making the transition to selling all items exclusively online.
The online auctions will continue to feature the same types of items as the retail store including computers and office furniture and unclaimed items confiscated by the Sheriff’s Office, such as bicycles, sporting equipment, and digital media. The auctions also will continue to feature surplus vehicles. Books will be sold online in lots small and large.
Loudoun County’s online auctions of surplus items are conducted through a company called Public Surplus. The auctions occur monthly and last for a period of ten calendar days. Anyone interested in bidding on the items must be registered with www.publicsurplus.com. Registration is free, however, a ten percent buyer’s premium is charged to all purchases. Payment is made online by credit card or by wire transfer. Loudoun County government and school employees are subject to bidding limitations under the auction terms and conditions, which are available on the Public Surplus site.
More information about the Loudoun County Surplus Store is available online at www.loudoun.gov/surplus .