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Police auctions tend to conjure up images of beat up cars confiscated from drug dealers and mint condition police cruisers that—for one reason or another—never saw service. The reality lies somewhere in the middle, and there are some good deals to be had so long as you're careful, and absolutely sure about what you're doing. Let this list be your insurance.
Silent auction is a variant of the English auction in which bids are written on a sheet of paper. At the predetermined end of the auction, the highest listed bidder wins the item. This auction is often used in charity events, with many items auctioned simultaneously and "closed" at a common finish time. The auction is "silent" in that there is no auctioneer selling individual items, the bidders writing their bids on a bidding sheet often left on a table near the item. At charity auctions, bid sheets usually have a fixed starting amount, predetermined bid increments, and a "guaranteed bid" amount which works the same as a "buy now" amount. Other variations of this type of auction may include sealed bids. The highest bidder pays the price he or she submitted.
State Fleet Management will hold another Vehicle Auction on March 7, 2019 at the North Campus location, 1001 E. 62nd Avenue, Denver. The sealed-bid auctions are open to the public for accident, drivable, and non-drivable vehicles that need to be moved out of the fleet. Click here for sample sealed-bid sheet. On-site auctions are held approximately every 3-6 months depending on the amount of inventory, as well as selling other vehicles weekly on a year-round auction site, www.colo-auto-sales.com.
Auction includes over 1,000 items from State and Federal agencies, abandoned safe deposit boxes, unredeemed pledged assets from various Financial Institutions, several business inventory liquidations, several estates and other consignors. Auction will feature collectible coins & currency, rare art, fine jewelry, luxury watches, sports memorabilia, rugs, electronics, all types of collectibles & much more!
The auction marketplace serves both buyers and sellers, offering equally valuable, yet fundamentally different benefits to both audiences. To sellers, the auction marketplaces offers a fast, efficient way to convert physical property into immediate cash. For buyers, auctions offer the ability to get a variety of high-quality, sometimes rare goods for pennies on the dollar. Both groups benefit from expert appraisals, widespread marketing of new auctions, and the satisfaction of engaging in an environmentally-friendly way to reduce and reuse.
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Depending on the agency, the government may use revenue from auctioned items to support crime-prevention programs, pay restitution to crime victims or purchase new equipment the department needs. "By providing agencies with the ability to dispose of excess assets, GSA benefits taxpayers by eliminating the need to maintain and store the unneeded property while also raising more than $300 million in revenue in just the last two years," a GSA spokesperson said.
Mystery auction is a type of auction where bidders bid for boxes or envelopes containing unspecified or underspecified items, usually on the hope that the items will be humorous, interesting, or valuable. In the early days of eBay's popularity, sellers began promoting boxes or packages of random and usually low-value items not worth selling by themselves.
In some parts of England during the seventeenth and eighteenth centuries auction by candle began to be used for the sale of goods and leaseholds. In a candle auction, the end of the auction was signaled by the expiration of a candle flame, which was intended to ensure that no one could know exactly when the auction would end and make a last-second bid. Sometimes, other unpredictable processes, such as a footrace, were used in place of the expiration of a candle. This type of auction was first mentioned in 1641 in the records of the House of Lords. The practice rapidly became popular, and in 1660 Samuel Pepys's diary recorded two occasions when the Admiralty sold surplus ships "by an inch of candle". Pepys also relates a hint from a highly successful bidder, who had observed that, just before expiring, a candle-wick always flares up slightly: on seeing this, he would shout his final - and winning - bid. The London Gazette began reporting on the auctioning of artwork at the coffeehouses and taverns of London in the late 17th century.
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.
Private sources. In addition to these free government sites, you can use private sites. These sites provide information about federal and local government auctions. Gov-Auctions gives you access to both federal and state auctions. The sites charge a one-time fee of $39.00 for access to their information. Having all auctions on one site can be helpful. If you are launching a serious car search or buy auction cars on a frequent basis, paying to use this site might make financial sense
All items are sold “AS IS-WHERE IS” without any guarantees or warranty expressed or implied, statutory or otherwise of any nature whatsoever in respect of the lots offered at the auction. Specifically, but without limitation, Auctioneer makes no representation or warranty that any of the lots conform to any standard in respect of safety, pollution or hazardous material, or fit for any particular purpose. The Auctioneers, sellers, or any member of their staff make no guarantee as to the authenticity, of any particular age, year of manufacture, model, make, mileage, hours, condition, or defect of any lot or item being sold. Bidders are encouraged to make their own physical inspection and rely solely on that inspection before bidding. Failure to inspect does not negate that Bidders responsibility to perform under the auction terms and conditions.
MoneySupermarket.com Financial Group Limited is authorised and regulated by the Financial Conduct Authority (FRN: 303190). The registered office address of both MoneySupermarket.com Group PLC and MoneySupermarket.com Financial Group Limited (registered in England No. 3157344) is MoneySupermarket House, St. David's Park, Ewloe, Chester, CH5 3UZ. MoneySavingExpert.com Limited is an appointed representative of MoneySupermarket.com Financial Group Limited.
Additional government sites. There are a few additional sites that can provide tips on government auctions. Guide to Federal Auctions gives a rundown of the various agencies. It provides information about what they sell as well as the departments' websites. GSA supplies information about auction sources. Auctions can be searched by state or auction house
Auctioneers are normally contracted by the different organisations within their local area. An auction at the centre of London for example, will deal with the assets of companies whose bankruptcy proceedings are being dealt with by courts in Greater London. An auction in Leeds will handle the assets of companies in Yorkshire that are being dealt with by Leeds City Court.
This is the practice, especially by high-end art auctioneers, of raising false bids at crucial times in the bidding in order to create the appearance of greater demand or to extend bidding momentum for a work on offer. To call out these nonexistent bids auctioneers might fix their gaze at a point in the auction room that is difficult for the audience to pin down. The practice is frowned upon in the industry. In the United States, chandelier bidding is not illegal. In fact, an auctioneer may bid up the price of an item to the reserve price, which is an unstated amount the consignor will not sell the item for. However, the auction house is required to disclose this information.
The bids with the lowest discount rates will be accepted first since the government will prefer to pay lower yields to investors. In this case, since the Treasury is looking to raise $9 million, it will accept the bids with the lowest rates up to 5.07%. At this mark, only $2 million of the $3 million bid will be approved. All bids above the 5.07% rate will be accepted, and bids below will be rejected. In effect, this auction is cleared at 5.07%, and all successful competitive and non-competitive bidders receive the 5.07% discount rate.
The objective of this paper is to investigate the preferences of potential bidders in choosing between uniformand discriminatory auction pricing methods. Many financial assets, particularly government bonds, are issued in an auction. Uniform and discriminatory pricing constitute the two most popular mechanisms used in public auctions. Theoretical papers ave not been able to provide an unequivocal ... [Show full abstract]View full-text
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.
HM Customs & Excise often enter items for auction seized from smugglers, fraudsters and racketeers. Executors may enter the assets of individuals dying in testate (i.e. without leaving a will) or in debt. The official receiver handles the liquidations of companies that have failed. Bailiffs will enter goods into auctions which have been seized for various reasons such as non-payment of bills or failure to keep up payments to finance companies.
We are a premier full-service private auction company liquidating property seized by police and federal agencies, property from abandoned safe deposit boxes, seized bank assets, bankruptcies, financial institutions, business inventory liquidations, and other consignors. Our firm conducts traditional live auctions throughout the year at various locations across the country, as well as auctions on the Internet. Please see our schedule of upcoming auctions for further details.
Property becomes tax-defaulted land if property taxes remain unpaid at 12:01 a.m. on July 1st. Property that is tax-defaulted after five years (or three years in the case of property also subject to a nuisance abatement lien) becomes subject to the county tax collector’s power to sell that property in order to satisfy the defaulted property taxes. The county tax collector must attempt to sell the property within four years of becoming subject to sale.
Buyout auction is an auction with an additional set price (the 'buyout' price) that any bidder can accept at any time during the auction, thereby immediately ending the auction and winning the item. If no bidder chooses to utilize the buyout option before the end of bidding the highest bidder wins and pays their bid. Buyout options can be either temporary or permanent. In a temporary-buyout auction the option to buy out the auction is not available after the first bid is placed. In a permanent-buyout auction the buyout option remains available throughout the entire auction until the close of bidding. The buyout price can either remain the same throughout the entire auction, or vary throughout according to rules or simply as decided by the seller.
Some items are being offered for sale to out of state or out of country bidders. Bidders are hereby notified that a VIN Stop has been filed with California DMV prohibiting the vehicle/equipment from being registered in California. Purchaser will be required to sign an ARB Out-of-State Verification Form acknowledging their intent to move the vehicle/equipment out of California, and an Out-of-State Sales Agreement indicating that the Buyer will inform future buyers that the vehicle cannot be registered and operated in California unless compliant with Section 2022.1(b). Bidders purchasing Out-of-State items must be registered as an out of State buyer with Bar None Auction prior to bidding.
The relationship between the Fed and the primary dealers is governed by the Primary Dealers Act of 1988 and the Fed's operating policy "Administration of Relationships with Primary Dealers." Primary dealers purchase the vast majority of the U.S. Treasury securities (T-bills, T-notes, and T-bonds) sold at auction, and resell them to the public. Their activities extend well beyond the Treasury market. For example, according to the Wall Street Journal Europe (2/9/06 p. 20), all of the top ten dealers in the foreign exchange market are also primary dealers, and between them account for almost 73% of foreign exchange trading volume. Arguably, this group's members are the most influential and powerful non-governmental institutions in global financial markets. Group membership changes slowly, with the current list available from the New York Fed.
We created a solution for law enforcement agencies nationwide. We pick-up all those seized, stolen, abandoned and surplus goods out of their Property Room, open up their public auctions nationwide and send back proceeds to the local communities. That’s also where we got our name – the Property & Evidence Room is where all these goods are stored at your local law enforcement agencies. We just shortened it to just PropertyRoom.com.
Reserve auction is an auction where the item for sale may not be sold if the final bid is not high enough to satisfy the seller; that is, the seller reserves the right to accept or reject the highest bid. In these cases a set 'reserve' price known to the auctioneer, but not necessarily to the bidders, may have been set, below which the item may not be sold. If the seller announces to the bidders the reserve price, it is a public reserve price auction. In contrast, if the seller does not announce the reserve price before the sale but only after the sale, it is a secret reserve price auction. The reserve price may be fixed or discretionary. In the latter case, the decision to accept a bid is deferred to the auctioneer, who may accept a bid that is marginally below it. A reserve auction is safer for the seller than a no-reserve auction as they are not required to accept a low bid, but this could result in a lower final price if less interest is generated in the sale.
The US Department of the Treasury auctions off “seized and forfeited” general property (fancy a Rolex watch or a Fender guitar?), cars (how about a pimped-out Escalade?) and boats. Visit the Treasury’s website to find more information on where and when these auctions are held, plus sign up for alerts and research how much money items have sold for in the past. In addition, the Treasury has real property (RP) auctions for real estate seized through IRS-Criminal Investigation, Immigration and Customs Enforcement, and the US Secret Service.
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.
Reverse auction is a type of auction in which the roles of the buyer and the seller are reversed, with the primary objective to drive purchase prices downward. While ordinary auctions provide suppliers the opportunity to find the best price among interested buyers, reverse auctions give buyers a chance to find the lowest-price supplier. During a reverse auction, suppliers may submit multiple offers, usually as a response to competing suppliers’ offers, bidding down the price of a good or service to the lowest price they are willing to receive. By revealing the competing bids in real time to every participating supplier, reverse auctions promote “information transparency”. This, coupled with the dynamic bidding process, improves the chances of reaching the fair market value of the item.
If you have had items taken by customs, there are a few different steps that you can take. If you believe that your goods were seized wrongfully or that customs had no legal right to take the items in question, you have 5 days to challenge the decision after receiving your Notice of Seizure. Your reasoning can be that the items were not in fact prohibited or restricted for importation, the goods were to be given away and not sold, and other reasons that could make the decision to have the goods seized incorrect.
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To finance the public debt, the U.S. Treasury sells bills, notes, bonds, Floating Rate Notes (FRNs), and Treasury Inflation-Protected Securities (TIPS) to institutional and individual investors through public auctions. Treasury auctions occur regularly and have a set schedule. There are three steps to an auction: announcement of the auction, bidding, and issuance of the purchased securities.
At Capital Auto Auction, we buy, sell and accept donations of used vehicles of various kinds. Whether it's for cars, boats or fleets of vehicles, we make it our goal to work out arrangements that satisfy both buyers and sellers. Our live auctions take place in four locations: Manchester, New Hampshire; Philadelphia, Pennsylvania; Temple Hills, Maryland; and Washington, DC. Our online auctions make it possible for you to bid on cars from your computer or smartphone. Also, in addition to hosting weekly auctions, we accept vehicles on consignments, doing all the advertising and networking to help you get a car sold.