As sports fans around the globe have seen this week at the Olympic Winter Games, the difference between first and second place often is very small.
We’ve known that for a long time here at the State Surplus Property Agency. Our rules limited awards to the highest bidder, compelling us to discard very close bids when the top bidder failed to claim and pay for his items. This forced us to void and repost countless bids, adding delays and inherent costs when revenue could have been generated from the next qualified bidder.
Not anymore. Starting March 1, Surplus will begin notifying the second-highest bidder in select categories of goods when the top bidder fails to complete the transaction within required 15 days. In such situations, the No. 2 bidders will be contacted by email and given two business days to accept or decline, plus another 15 days to claim and pay.
The goal is to reduce the number of defaults and increase the dollars returned to state agencies or the General Fund. However, this policy will not apply to sales of all surplus goods. For example, seized property is not eligible for second-highest bid sales. Ineligible surplus property, and items declined by the second-highest bidder, will be reprocessed for future sale.
Surplus would like to thank Dell Pinkston and her team at Management Information Systems for the time and effort invested to make this goal a reality. Visit our website or stop by one of our retail stores across the state to learn more.