FedEx Auctions (How They Work, Bids + More)
If you’re in the habit of sending and receiving packages through FedEx, chances are that at least one of your packages has been lost in the past.
In fact, losing a package in transit can be frustrating. So, this begs the question, what happens to a lost FedEx package? In this article, we’ll share one place to lose packages: the auction block. Read on to find out more!
How the 2022 FedEx Auction Works
FedEx is holding several auctions in 2022. One is a liquidation auction. This is where remaining inventory is loaded via boxes, pallets or trucks. FedEx also used to auction lost, unclaimed and/or unreturnable packages. This practice appears to have ceased in 2019. If the auctions are still going, they will be held in Utah, California and Canada.
You probably have a lot of questions when it comes to this secret FedEx practice, so read this article to answer yours!
Does FedEx hold auctions?
FedEx holds many types of auctions.
Some auctions are liquidation sales of remaining inventory. Buying from a liquidation auction means buying wholesale batches by case, pallet or truck.
As of this writing, there are no active FedEx liquidation auctions. However, if you want to know about any active FedEx liquidation auctions, check out this site.
In addition to liquidation auctions, FedEx may also auction lost, unclaimed and unreturned packages, although this practice appears to have ceased in 2019.
Does FedEx sell lost items?
Auctioning lost packages used to be common in the shipping industry.
While the United States Postal Service (USPS) still engages in this practice, FedEx and UPS appear to no longer do so.
Unfortunately, it is difficult to get information about the auction as all shipping companies keep the auction secret.
In fact, they declined to detail how many packages were lost and how much money was made at the auction.
How does FedEx handle unclaimed packages?
According to a FedEx spokesman, the company made every effort to return the package to the rightful owner.
This is done through the use of advanced technology and exhaustive customer research.
About 20 to 40 percent of unclaimed packages reach their intended recipients, according to a former FedEx employee.
Shipments that cannot be matched to the recipient will be processed (per regulatory policy and shipper instructions) or sold at auction.
How long do FedEx packages hold before being auctioned?
Unfortunately, FedEx did not disclose how long they held the package before the auction.
However, I can give an estimate based on what I know about other shipping companies.
For example, USPS holds lost, unclaimed, and undeliverable packages for 90 days prior to auction.
UPS holds items for 30 to 60 days prior to auction.
Given this information, it’s safe to assume that FedEx will hold the package for between 30 and 90 days before putting it on auction.
Where are FedEx Auctions held?
Utah is a major FedEx hub for lost packages.
In fact, FedEx used to own an online auction site called Bukoos.com, which was based in Utah.
In addition to Bukoos.com, FedEx also contracts with a Salt Lake City-based company called Bulward Auctions to sell unclaimed merchandise.
Both companies appear to be out of business. Bulward appears to have closed sometime between 2014 and 2015, while Bukoos closed in August 2019.
However, even with both companies closed, it’s likely that many of FedEx’s auctions are still going on in Utah.
FedEx auctions are known to be held in California, Mississippi and Canada.
How do I bid on FedEx auctions?
Given that two of FedEx’s former auction locations (Bukoos.com and Bulward Auctions) are closed, there is no clear answer on how to bid on items.
However, based on the information available online, it appears that FedEx is no longer holding auctions or letting the public bid on lost packages.
To learn more, you can also read our posts on FedEx damage, FedEx Cross Border, and what scanners FedEx uses.
in conclusion
While FedEx used to appear to auction lost, unclaimed or unreturnable packages through on-site and online auctions, this no longer appears to be a common practice.
In fact, the two companies responsible for conducting the auctions (Bulward Auctions and Bukoos.com) appear to have shut down amid the negative media attention. That being said, if auctions are going on, they will likely be in Utah, California, Mississippi and Canada.