Paper Drill

This auction will end in one of these ways:

At the auction close time if no bids (proxy or flat) are placed within the inactivity period, or the auction is not subject to a inactivity period. After the inactivity period has passed without any bids (proxy or flat) being placed.

Note: "N/A" or a blank indicates that the value is not available for this auction.

Auctions for real property accept flat or automatic bids.

A flat bid is for an amount at least the current bid plus the posted minimum Bid Increment. If the bid is greater than another bidders automatic bid, the system will consider this flat bid as the current (high) bid. If the bid is less than or equal to another bidders automatic bid, the system will record the bid but it will not be considered the current (high) bid.

An automatic bid is an amount that you set above the posted minimum bid. Realestatesales.gov will use as much of your bid as needed to make you the current winner of the auction or to meet the auction reserve price. The system will automatically apply the minimum Bid Increment up to the total amount bid to make you the current winner of the auction or to meet the auctions reserve price. Your automatic bid amount is not shown to other bidders until it is reached through competitive bidding. You may change your bid amount but not less than the next bid increment amount.

GSA Auctions only accepts bids in whole dollar amounts.Bids in partial dollar amounts, $150.25 for example, will not be accepted by the GSA Auctions system.

The reserve price is the minimum price that GSA Auctions is willing to accept for an item. If your maximum bid equals or exceeds the reserve price, your bid will be placed at the reserve price.

If a bidder places a bid with the same automatic bid amount as another bidder, the previous (first) bidder will have the high bid since their bid was placed first. Both bids are recorded with the same amount, displaying the first bidder with the same amount as high bidder, until another bidder bids higher.

When two automatic bids compete, the greater of the two automatic bids always wins. If the greater automatic bid exceeds the lesser automatic bid by the bid increment, then a bid equal to the lesser automatic bid plus the bid increment will be placed. If the greater automatic bid does not exceed the lesser automatic bid by the bid increment, then the greater automatic bids total bid amount will be placed.

You can increase your automatic bid if you are currently the winner in an auction. To increase your automatic bid, enter an amount greater than your current automatic bid. Increasing your bid will not increase your current high bid.

You can decrease your automatic bid if you are currently the winner in an auction. To decrease your automatic bid, enter an amount less than your current automatic bid. You cannot decrease your bid below the minimum bid price. Changing your automatic bid may affect the indicated time remaining.

The highest bid at the close of the auction will be considered for award of the sale. The Government reserves the right to reject any and all bids for any reason.

Real property auctions will typically maintain the bid increment throughout the sale. However, in some sales the bid increment may be decreased or increased based on bidder activity. Announcements will be made on-line prior to any such change. Bidders should check the sale frequently for announced changes.

Real property auctions close by announcing the sale end date and time and a bidding interval (usually 24-hours) whereby the highest bid received must survive the full bid interval period before the auction closes. However, the bid interval may be decreased or increased or eliminated at any time based on bidder activity. Announcements will be made on-line prior to any such change. Bidders should check the sale frequently for announced changes.