When goods are seized, the importer received what is known as a Notice of Seizure. This document lists the items that have been seized by customs, as well as details regarding who to contact about the seized goods, and information on what to do after your items have been taken. If the items are seized in your presence, the reasoning behind why your items have been seized will be explained to you in person. Otherwise, the Notice of Seizure will be sent to you.
Lots at police auctions range from brand new or graded from A down in used condition, or goods may be slightly marked. A good example would be high quality white goods. All items listed in any police auction are available for viewing and inspection prior to the sale. Faulty or damaged goods should be clearly marked, and faults are outlined by the auctioneer during the auction.
The first known auction house in the world was Stockholm Auction House, Sweden (Stockholms Auktionsverk), founded by Baron Claes Rålamb in 1674. Sotheby's, currently the world's second-largest auction house, was founded in London on 11 March 1744, when Samuel Baker presided over the disposal of "several hundred scarce and valuable" books from the library of an acquaintance. Christie's, now the world's largest auction house, was founded by James Christie in 1766 in London and published its first auction catalog in that year, although newspaper advertisements of Christie's sales dating from 1759 have been found.
A ring can also be used to increase the price of an auction lot, in which the owner of the object being auctioned may increase competition by taking part in the bidding him or herself, but drop out of the bidding just before the final bid. In Britain and many other countries, rings and other forms of bidding on one's own object are illegal. This form of a ring was used as a central plot device in an episode of the British television series Lovejoy (series 4, episode 3), in which the price of a watercolour by the (fictional) Jessie Webb is inflated so that others by the same artist could be sold for more than their purchase price.
Police Auction events are handled differently depending on the various police forces. Some authorities commission auctions through various contracted auctioneers. Others hold Online Police Auctions through various websites. The issue is that the police auctioneers who are appointed to sell goods is constantly changing. So to keep up-to-date with upcoming police auctions around the country use the GAUK Auction Search Engine and for those elusive Police Auction lots try Lot Shark alert service.
The New York City Police Department regularly holds online auctions to dispose of seized, unclaimed property and vehicles. The Property Clerk Division works with an outside auctioneer, called Property Room, which specializes in items seized by law enforcement agencies across the country. Online auctions include many high-end items, such as jewelry, rare coins, brand-name clothing, and consumer electronics. Vehicles are also available. Participation in online auctions is free and open to the general public.
Internet auctions – With a potential audience of millions the Internet is the most exciting part of the auction world at the moment. Led by sites in the United States but closely followed by UK auction houses, specialist Internet auctions are springing up all over the place, selling everything from antiques and collectibles to holidays, air travel, brand new computers, and household equipment.
Whenever bidders at an auction are aware of the identity of the other bidders there is a risk that they will form a "ring" or "pool" and thus manipulate the auction result, a practice known as collusion. By agreeing to bid only against outsiders, never against members of the "ring", competition becomes weaker, which may dramatically affect the final price level. After the end of the official auction an unofficial auction may take place among the "ring" members. The difference in price between the two auctions could then be split among the members. This form of a ring was used as a central plot device in the opening episode of the 1979 British television series The House of Caradus, 'For Love or Money', uncovered by Helena Caradus on her return from Paris.
DATE COUNTRY AUCTION DETAILS 19-Mar Japan 1-year discount bill auction 19-Mar Japan Auction of 20-year government bonds 20-Mar Germany Auction of 5-year Federal notes 20-Mar Portugal Auction of Treasury bills 21-Mar Sweden Auction of inflation-linked government bonds 21-Mar France Index-linked Securities auction 21-Mar Spain Bond Auction 22-Mar Japan 3-month discount bill auction 26-Mar United States Sale of 2-year notes
... Back and Zender (1993) andWang and Zender (2002)illustrate the nature of these equilibria and discuss the difficulties associated with drawing sharp comparisons across the pricing rules. 1 Empirically, there are limited and conflicting results concerning the relative attractiveness of the different auction formats (compare Simon (1992) to Umlauf (1993) andTenorio (1993)). In practice, even in the relatively simple realm of government debt auctions, different countries use different types of auctions (seeBrenner, Galai, and Sade (2009)). The importance of effective governmental borrowing in the remedies to the world financial crisis serves as a reminder of the importance of developing our understanding of this important market mechanism. ...
PLEASE READ THESE TERMS OF SALE CAREFULLY, AS THEY HAVE BEEN RECENTLY UPDATED. THIS IS AN INTERNET-ONLY AUCTION! AUCTION CLOSING DATE: Tuesday, March 19th at 12:07pm Bidding closes on the first item at 12:07 pm, then closes at the rate discussed in these Terms and Conditions of Sale. INSPECT: Monday, March 18th 9am to 11am REMOVAL: [ View Full Listing ]
... Bourjade (2009) modified the uniform-price auction rules in allowing the seller to ration bidders and proved that this rules provide a strategic foundation for underpricing when the seller has an interest in ownership dispersion and then many of the so-called "collusive-seeming" equilibria disappear. Brenner et al. (2009) investigated the revealed preferences of the issuers by surveying the sovereign issuers that conduct auctions and found that the majority of the issuers/countries in our sample use a discriminatory auction mechanism for issuing government debt, and they also concluded that market-oriented eco- Technological and Economic Development of Economy, 2015, 21(1): 96-117 nomies and those that practice common law tend to use a uniform method while economies who are less market oriented and practice civil law tend to use discriminatory price auctions. Holmberg (2009) characterized the Nash equilibrium in a pay-as-bid, divisible-good, pro- curement auction, and compared the offer curves and mark-ups of the derived equilibrium to the results for the SFE of a uniform-price auction. ...
Nonetheless, auctions have a long history, having been recorded as early as 500 B.C. According to Herodotus, in Babylon auctions of women for marriage were held annually. The auctions began with the woman the auctioneer considered to be the most beautiful and progressed to the least. It was considered illegal to allow a daughter to be sold outside of the auction method.
For more information regarding a specific county’s public auction sale, please view the county tax collector's website for the most accurate and up to date information, or contact the county tax collector's office directly. Below is a link to each county's treasurer and tax collector website which contains county services and contact information. Additionally, some counties may also list their sales at "bid4assets."
Several different federal agencies hold government auctions. The General Services Administration is the granddaddy of them all, because it sells on behalf of other departments. When a federal agency no longer needs something — say, a pickup truck — it reports the truck to GSA, which first offers it to other federal agencies and then to state and local governments or nonprofits. If nobody claims the truck, then the GSA auctions it off to the public, and you get your chance at it.
The Proceeds of Crime Act now allows for a court to confiscate any goods that a person can not legally account for. There are many thousands of such court orders issued each year, and items that can not be returned to their legal owner are auctioned off at local auction houses all over the UK at Proceeds of Crime auctions as featured in the BBC documentary series Ill Gotten Gains. Police auctions are an established route used by regional police forces across the country to dispose of proceeds of crime, lost and found, seized, and unclaimed stolen and confiscated property.
Consignee and consignor - as pertaining to auctions, the consignor (also called the seller, and in some contexts the vendor) is the person owning the item to be auctioned or the owner's representative, while the consignee is the auction house. The consignor maintains title until such time that an item is purchased by a bidder and the bidder pays the auction house.
Payment methods. A government auction accepts many modes of payment from credit cards or bank checks to cash. It is recommended to ask the auctioneer about the modes of payment involved before the auction starts. Besides the bidding price of the car, an additional buyer's premium fee is added onto the total. This fee is normally 5 percent of the winning bid
YP - The Real Yellow PagesSM - helps you find the right local businesses to meet your specific needs. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. “Preferred” listings, or those with featured website buttons, indicate YP advertisers who directly provide information about their businesses to help consumers make more informed buying decisions. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page.
Treasury bills (T-bills) are short-term debt securities issued by the U.S. government through the Treasury Department to help finance the national debt. These debt instruments mature within a year and are issued at a discount to par value. The maturity term for T-bills are: 1 month (or 4 weeks), 3 months (or 13 weeks), 6 months (or 26 weeks), and 1 year (or 52 weeks). The minimum amount you can buy a bill for is $100, although the most commonly sold bills have a par between $1,000 and $10,000. The bills are considered risk-free securities since they are backed by the full faith and credit of the U.S. government and, hence, the yield on these securities is used as the benchmark for short-term interest rates. Treasury bills are issued in electronic form through an auction bidding process which is conducted every week.
Treasury Bills Auctions are typically held every Tuesday and successful bids are settled on the following Thursday on a T+2 settlement cycle. When the auction date, or the settlement date, or any day in between the auction date and the settlement date falls on a non-business day, the auction takes place on the first business day of the same week and settled on a T+2 basis.
PropertyRoom.com works with police departments across the country to auction off the items they have seized or recovered. All of the items are examined by experts and anything that is fake is destroyed. PropertyRoom.com gives a portion of the proceeds from the auction back to the police department's local community. Many of the items on the site start at $1 with no reserve.
A primary dealer is a firm that buys government securities directly from a government, with the intention of reselling them to others, thus acting as a market maker of government securities. The government may regulate the behavior and number of its primary dealers and impose conditions of entry. Some governments sell their securities only to primary dealers; some sell them to others as well. Governments that use primary dealers include Belgium, Brazil, Canada, China, France, Hong Kong, India, Italy, Japan, Singapore, Spain, the United Kingdom, and the United States.
But there is a twist - NO firearms will be auctioned on PropertyRoom.com. Instead they are offered for auction through Federal Firearms Licensed (FFL) partner BudsGunsShop.com on their auction website eGunner.com, a division of BudsGunShop.com. Partnering with an organization like BudsGunShop.com who has over 40 years’ experience in the firearms industry and has sold and shipped over 1 million firearms, ensures that firearms sold will be transferred from FFL to FFL and all legal requirements, including background checks before release, will be completed to the letter of the law.
Bidder acknowledges that an auction site is a potentially dangerous place. Flammable, noxious, corrosive and pressurized substances are present, heavy equipment is being operated and electric circuits may be live. Every person at the auction site, at any time, shall be there at his own risk without notice of the condition of the premises and the activities thereon and bidder shall so advise his agents and employees. No person shall have any claim against Auctioneer, its officers, directors, agents, employees, principals, or attorneys for any injuries sustained, nor for damages to or loss of property, which may occur from any cause whatsoever.
At times, customs may decide to not only seize goods but detain the passenger as well. This can happen for a number of different reasons. One reason is if, as mentioned above, a passenger has not declared the item(s) or if they have been declared falsely. Another reason would be if an individual carried with them over 200 grams of tobacco or a very large amount of alcohol.