The federal government's first Humvee auction went well. Military.com reports IronPlanet Inc. auctioned off 25 of the trucks for the Pentagon, raking in $744,000 in the process (plus a 10-percent commission for the auction house). While bidding started at $10,000 per truck, the lowest winning bid was $21,500 for a 1989 model, while the most expensive rig was built in 1994 and went home for $41,000. (See the whole roster here.) On average, buyers spent $30,000 on their surplus Humvees. Keep in mind, these trucks aren't street-legal, and can only be used off road.
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All told, the Defense Logistics Agency has about 4000 surplus Humvees. Those that don't go to local law enforcement, as is happening with the more-recent MRAP, will wind up going under the gavel. If anything, this first auction underscores just how much demand there is for the bare-bones, go-anywhere military trucks. It may be a while before demand cools off enough for the prices to come down.
A version of this story originally appeared on roadandtrack.com.
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