A government auction is an auction of goods which have been confiscated by various Government bodies and agencies.
Government auctions may be found in most countries but can often differ in their format. In certain places, United States for instance, they are held by local departments, and proceeds are retained by the authorities. Generally, these types of auction are open to the public such as the United Kingdom.
Video Government auctions
Types of auctions
- Government, Bankruptcy & Liquidation Auctions - assets from, receiverships and bankruptcies
- Customs, MoD, Proceeds of Crime
- Police auction, Post Office, Airport and Transport Department Lost Property
- Repossessed, Local Authority, Utilities Property
- Police, VAT, Tax & Court Seizures
- HM Customs and Excise - confiscated and impounded goods
- Public Utilities, UK & US Government Departments - excess, over-stocked and unwanted items
- Finance Companies - repossessions & business assets
- Trustees & Executor Disposals - from the settling and winding up of estates
- Solvent Companies still trading - surplus assets sold due to relocation, restructuring and overstocking
- Ex-demonstration and damaged items, including catalogue returns etc.
Maps Government auctions
Types of items
- Cars & Commercial Vehicles
- Property
- Bankrupt Stock
- Proceeds of Crime
- Seized Items
- Liquidated Assets
Government and general auctions
When the term "Government Auction" is used it often means that a general auctioneer has been contracted to deal with stock that needs to be liquidated by various government bodies:
- HM Customs & Excise
- Official Receiver
- Receivers in general
- HM Collector of Taxes
- Ministry of Defence
- Home Office
- Local councils and authorities
- Liquidators
- Trustees
- Executors
- Sheriff
- Department of Trade and Industry
- Department of the Environment
- National Health Service
- Bailiffs
- Police
- Various lost property departments
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.
Some auctioneers act as bonded agents handling goods from liquidators and HM Collectors of Taxes and official receivers. Often goods sold at government auctions will be unreserved meaning that they will be sold to the highest bidder at the auction.
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.
However, this is not always the case as smugglers whose assets were confiscated were found to be bidding on them at the local auction. To prevent this goods may now be sold at an undisclosed auction in a distant district.
How they work
Each year, millions of pounds worth of items are either seized or confiscated by or on behalf of various Government organisations. To expedite liquidation orders are made to sell them at specialist auctions.
United Kingdom
The Proceeds of Crime Act allows for a court to confiscate items that a criminal can't legally account for.
Government auctions are usually held by nominated auction houses all around the UK. They will instruct an auction house which will sell the items on their behalf.
There are many thousands of such court orders issued each year, and items that can't be returned to their legal owner are auctioned off at local auction houses all over the UK. 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.
Government Auction Websites There are a number of primary website used by police to sell seized or lost and found items. bumblebeeauctions.co.uk acts effectively as a shop front the police force and local authorities which can use to dispose of various types of property. It is an official police website used by various forces across the country. Users bid on items in the same way as they would on sites such as eBay.co.uk.
eBay is also used by a small number of police forces across the UK
USA
Government auctions are often held onsite in the US, generally hosted by a professional auctioneer. A wide variety of merchandise is available from a number of websites both official and unofficial. The Internet provides services to various government agencies that allow them to sell surplus and confiscated items.
On USA government websites you are able to purchase new, seized, and surplus merchandise and real estate from the government by auction or fixed price. Other items are available for sale by public auction, sealed bid, or contract with a Realtor.
GSA Auctions is a U.S. General Services Administration Federal Government website that does not charge the general public to browse or to register. GSA also hold Surplus Personal Property Sales
There are also commercial sites that aggregate federal, state and local government auctions information such as GovernemntAuctions.org
New Zealand
Government agencies sell goods via various contracted auctioneers and online on websites such as TradeMe
References
Source of article : Wikipedia
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