Seized Property – Treasures for Bargain Hunters!

Posted by Mark Allen on September 7, 2009 under Finance | Be the First to Comment

Seized property offered at government auctions and police auctions are veritable treasure chests for bargain hunters. There is an astounding array of new and used merchandise, sold at rock-bottom prices, sometimes less than 10% of market value!

Exactly what is seized property? This is property that has been taken through state or federal “seizure laws”. These laws allow certain government agencies, such as US Customs, the IRS, DEA, even local police departments. to seize property that was used or acquired illicitly, such as a car or truck used to transport stolen goods or illegal drugs, or property imported improperly.

If a criminal uses the money he acquires from his crime to buy a car, truck, boat, even a house, they fall under the “seizure law” and will be confiscated. Jewelry, computers, cameras, art all can be seized.

The range and quantity of seized property sold at government auction is enormous. You can buy antiques, clothing, collectibles, tools, medical equipment the list goes on and on. Nearly anything you can imagine can be purchased at these government auctions or police auctions, for a fraction of their real value.

Another source of these auction goods is merchandise that was seized by US Customs. The seizure can be for improper importation, or failure to pay import duties or taxes. The Customs agency will often seize entire cargo containers full of property. These are usually brand new goods originally intended for retail sale, that are now liquidated through a government auction.

Government auctions and police auctions are held by hundreds of individual agencies, from federal government agencies like US Customs, the IRS, FBI, and DEA, down to your local city government and municipal sheriffs departments. Each agency conducts it’s own auctions, some online, some at specific locations.

So how do you find these seized property auction treasures? There are essentially two ways: first, you can look through listings, but you can spend countless hours as each agency holds it’s own auctions, and they can change daily, weekly, etc. Alternately, you can join a government auction membership site that puts all those listings together in one place. Membership sites vary, however, so before signing up make sure you check out reviews such as those found at Government Auction Site Reviews.

Seized property auctions are treasure troves of merchandise for bargain hunters. With a little effort, you can actually find those “deals of a lifetime” for nearly anything in the world!

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