| Buying or selling at a confiscated goods auction is | | | | obtained during tax raids by custom authorities or raids |
| indeed a strange proposition as none can say with | | | | by police because of criminal or fraudulent activities. |
| certainty the source of goods - they can be lost | | | | The IRS finds an individual did not pay required taxes, |
| goods or stolen goods mainly if it is a police auction. | | | | and seizes that person's possessions which may |
| The goods to be auctioned can include items like cars, | | | | include valuables such as cars, jewelry, and real estate |
| tools, electronics, costly jewelry, sporting goods and | | | | and then auctions them with the intention to recover |
| coins, commercial heavy equipment, real estate, | | | | the outstanding tax liability. Customs seizure auctions |
| antiques, guns - well, the listing can be anybody's | | | | sell merchandise that came from people who tried to |
| guess. | | | | smuggle merchandise into the country without paying |
| Confiscated goods auction is not to be confused with | | | | import duties, or even from people that failed to |
| retail sales and the two have very little in general. | | | | announce their merchandise properly when returning |
| Distinct retail stores, auctions are governed by federal | | | | from a foreign vacation. Then, there are the police |
| laws, state regulations, uniform commercial codes and | | | | seizures of stolen and lost property that is not claimed |
| city ordinances. When you bid and buy at an auction it | | | | by the legal owner, and local sheriff's sale of |
| is deemed a lawful transaction. | | | | foreclosed real estate seized and sold by the money |
| You must have a bidder's card as or else you can not | | | | lender to recover the loan liability. |
| buy at the auction and to obtain a bidder's card, you | | | | Make sure to personally inspect each item you plan to |
| must pay a refundable deposit amount as earnest | | | | bid before the auction commences. This is why an |
| money. After you fully pay for the items you bought or | | | | auction sample is offered. Use your own valuation for |
| leave the auction without purchasing any items, the | | | | deciding on the bidding price and not get influenced by |
| deposit is directly returned to you. Occasionally, your | | | | the auctioneer's description of the item or other |
| deposit is adjusted against the cost of goods you had | | | | bidders' comments. |
| bought. Auctioneers expect you to take full task for | | | | Please keep in mind that the goods you buy at a |
| your bids. The instant the auctioneer says 'sold,' the | | | | confiscated goods auction is purely on "As Is" condition |
| item auctioned belongs to the bidder. This is the rule. | | | | and carries no guarantees of any kind from the seller |
| Even if your goods are later stolen, you will still have to | | | | or auctioneer and goods sold will be taken back. |
| pay for it. | | | | Seized property auctions Seized property are held by |
| A government confiscated property auction is certainly | | | | the federal government, and by state and local |
| an opportunity to buy all types of confiscated property | | | | governments and police. As the confiscated property |
| at well below market prices. Confiscated property | | | | sales take place through an auction and because the |
| auctions are the consequence of criminal seizures, tax | | | | authorities obtained the items free there is no profit |
| seizures, customs seizures, or police seizures. With | | | | intention and goods can be bought cheap. |
| confiscated goods auctions, merchandise is generally | | | | |