IU Surplus Store starts the new year with sealed bids on old merchandise

The IU Surplus Store is now accepting sealed bids for certain items in its warehouse to reduce the volume of its merchandise. \nThe bids began Jan. 3 and will continue until 4 p.m. Jan. 17. All bids are accepted at the store, located at 2931 E. 10th St. \nJoe Goss, director of materials management, said the IU Surplus Store only conducts sealed bids when the store acquires larger more or expensive merchandise that people might not otherwise purchase. \n“I think (the auction) is good because not a lot of students know about it,” said Neil Perry, Collins LLC instructor. “It may be a good way to get business.” \nThe merchandise at the IU Surplus Store comes from more than 100 IU departments, store manager Jim McAuley said. \nOnly certain items can be bid on, McAuley said. These items vary from microscopes to computers, Goss said. \nCustomers can come into the store during its regular operating hours and fill out a bid form that will then be sealed. On Jan. 17, all sealed bids will be opened and the item will go to whoever has the highest bid, Goss said.\nAccording to a press release from the IU Surplus Store, whichever customer wins has one week to pay and pick up the item. If the item is not picked up, it will be sold when the store conducts another sealed bid auction. None of the merchandise can be returned and there are no warranties that come along with items. \nAlthough the IU Surplus Store holds a sealed bid every six to eight weeks, the store typically makes more money from customers buying the merchandise regularly. \n“Sealed bids are an extremely minor part of what we do,” Goss said. \nMcAuley said all items up for bid are being displayed in the back of the warehouse until the bidding period ends. The store will only accept checks or money orders for bid payments.