The U.S. Military recently held its first-ever public auction of its surplus Humvee supply, and the results were good. Each Humvee had a starting price of $10,000, but the average transaction price was around $30,000. The lowest someone paid to take home one of the brutes was $21,500, while a top-end bid saw a Humvee trade for $41,000.
According to Military.com, the total amount spent at the auction comes to $744,000. That's a ton of dough for a bunch of vehicles that aren't even street legal. Still, it's clear that demand is high, and you can expect more auctions like this in the future.
There's a large supply of these surplus military vehicles sitting around. They'll find a home somewhere, and with the success of this first Humvee auction, you can expect more of them to cross the block sooner rather than later.