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More Info:
Real
Estate Vehicles Boats Jewelry
Carpets Wearing Apparel Aircraft
Business Opportunities Electronics
Most
property is seized due to trade violations, trademark or copyright
violations, smuggling, drug trafficking, money laundering, credit
card fraud, food stamp fraud, mail fraud or other illegal activity.
However, not all property is seized. Other property sold at the
auctions are General Order merchandise. This property was either
abandoned at ports of entry or duties/taxes were not paid.
It
is strongly recommended that you attend auction previews. The
preview is the only opportunity you have to get answers to your
questions regarding merchandise, since items are sold "as-is"
and all sales are final. Merchandise is often not available for
inspection the day of the sale. Please take advantage of the previews,
they are provided for your benefit and you can also take this
opportunity to register for the auction.
The
final price of items in the auction depends on public interest
and what people are willing to pay for the merchandise. Good buys
are possible, just be sure to do your own research and inspect
the merchandise.
Generally, the Government does not place a minimum bid on items.
However, the Government reserves the right to accept or reject
any and all bids. Those individuals who cannot attend the auction
in person are given the option to enter a written bid. If any
written bids are entered, they will begin the bidding from those
submitted.
The
reserve price is a dollar amount placed on an item by the Government.
If you hear the auctioneer say "Bidding closed, subject to
the acceptance of the seller," it means the high bid did
not reach the reserve price. We then go back to the Government
representative and ask if they will accept the high bid. The good
news? the majority of property auctioned is sold.
Cash, Cashier's Check and Visa or MasterCard are accepted at most
sale locations. Personal or business checks, certified checks,
bank letters or letters of credit are not accepted.
Please check the Terms of Sale on individual sales flyers for
the specific instructions regarding payment for that particular
auction.
Typically
purchases of $5,000 or less are required to be paid in full on
day of sale. For purchases over $5,000, a deposit of $5,000 is
due on sale day and payment in full is due by a specific day given
by each auction. Since cashiers cannot make change for more than
10 percent of a cashier's check, it is recommended that you bring
several cashier's checks in small denominations. Refer to the
Terms of Sale for specific deposit and payment terms.
The terms of sale provide removal dates and guidelines for
both export only and domestic goods. Failure to comply may result
in cancellation of sale, repossession of merchandise and forfeiture
of all money paid. Export only merchandise may only be removed
by a US Customs bonded carrier. Contact your local Customs Service
Office for information and assistance.
IRS
property will be released to successful bidders after review of
records to make sure they are not the violator or associated with
the violator. Buyers will be notified within 72 hours of the auction
date. Successful bidders of ATF or SS property will be notified
at time of payment.
Once
payment is made in full, you will receive a clear title for a
vehicle, boat, aircraft or real property, whichever the case may
be. All liens, back taxes or other encumbrances will be paid by
the Government, unless otherwise stated.
The
designation of EXPORT ONLY indicates that the specified merchandise
cannot be registered, used, or sold again in the US as a result
of it infringing upon some federal regulation (ex. quotas, trademarks
or safety regulations). Anyone who purchases EXPORT ONLY property
must remove it from the US within a specified period of time.
Employees of the Department of Treasury and members of their immediate
family are prohibited from bidding on any merchandise. If you
work for another Government agency, check your local agency's
policies.
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Seized Cars
Millions
of dollars of seized and unclaimed property.