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October 19, 2007, Newsletter Issue #108: Where Goods In Government Auctions Come From
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Tip of the Week
The goods in government auctions come from a variety of sources. Some of the goods come from customs seizures. If a person tries to bring goods in to the US without declaring them, customs agents can seize the goods and then sell them at auction. Goods at government auctions also come from federal law enforcement. When US Marshals, FBI, or ATF agents seize the assets of criminals, these goods are put up for government auction. The government also often puts up surplus goods for auction. If a government department no longer needs tools from a construction project or is decommissioning vehicles, these items are sold at government auction. The government also frequently auctions off items like the rights to federal lands, unused federal property, and bonds and treasury bills. Police auctions generate goods in the same way that government law enforcement auctions do. They consist of assets seized from criminals.
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