Internet auctions typically last seven days, and operate like eBay auctions. Each listing links to the auction house website where bids can be placed. From that site, bidders are asked to register in order to bid on a vehicle. Live auctions are public auctions held at a specific date and location and are usually published in newspapers in addition to the online listing at GovSales.
This site advertises auctions of seized Real Property for sale throughout the United States and Puerto Rico and includes single and multi-family residences; commercial and residential land; commercial buildings and warehouses; and operating businesses. These properties have been seized and forfeited due to violations of federal laws enforced by the U.S. Department of the Treasury. Participating enforcement agencies include: IRS-Criminal Investigations Division, Immigration and Customs Enforcement, and the U.S. Secret Service. All proceeds from the sale of property are deposited in the U.S. Treasury Asset Forfeiture Fund. This fund helps support continued law enforcement efforts and provide restitution to crime victims.
PLEASE READ THESE TERMS OF SALE CAREFULLY, AS THEY HAVE BEEN RECENTLY UPDATED. THIS IS AN INTERNET-ONLY AUCTION! AUCTION CLOSING DATE: Friday, March 22nd 12:07 pm Bidding closes on the first item at 11:07 am, then closes at the rate discussed in these Terms and Conditions of Sale. INSPECT: Friday, March 15th 9am to 2pm INSPECT: [ View Full Listing ]
Dutch auction also known as an open descending price auction. In the traditional Dutch auction the auctioneer begins with a high asking price for some quantity of like items; the price is lowered until a participant is willing to accept the auctioneer's price for some quantity of the goods in the lot or until the seller's reserve price is met. If the first bidder does not purchase the entire lot, the auctioneer continues lowering the price until all of the items have been bid for or the reserve price is reached. Items are allocated based on bid order; the highest bidder selects their item(s) first followed by the second highest bidder, etc. In a modification, all of the winning participants pay only the last announced price for the items that they bid on. The Dutch auction is named for its best known example, the Dutch tulip auctions. ("Dutch auction" is also sometimes used to describe online auctions where several identical goods are sold simultaneously to an equal number of high bidders.) In addition to cut flower sales in the Netherlands, Dutch auctions have also been used for perishable commodities such as fish and tobacco. The Dutch auction is not widely used, except in market orders in stock or currency exchanges, which are functionally identical.
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 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.
Katehakis and Puranam provided the first model for the problem of optimal bidding for a firm that in each period procures items to meet a random demand by participating in a finite sequence of auctions. In this model an item valuation derives from the sale of the acquired items via their demand distribution, sale price, acquisition cost, salvage value and lost sales. They established monotonicity properties for the value function and the optimal dynamic bid policy. They also provided a model for the case in which the buyer must acquire a fixed number of items either at a fixed buy-it-now price in the open market or by participating in a sequence of auctions. The objective of the buyer is to minimize his expected total cost for acquiring the fixed number of items.
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 bidder, whether acting as principal, agent, officer or director of a company or otherwise, in any capacity whatsoever, and the company he represents, both jointly and severally agrees to indemnify and save harmless Auctioneer and its officers, directors, employees, agents, attorneys and its consignors, from any and all actions, causes of action, suits, damages, costs, and losses of any nature, including injury and death, arising from the purchase or use of any items, or the attendance or participation of bidder, his/her agents or employees, at the auction and/or on the auction site whether before, during, or after the auction.
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.
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.
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.