Seized property sold through government auctions and police auctions are a treasure trove for bargain hunters. There is a vast array of goods, new and used, sold at way below retail, sometimes less than 10% of market value!
What is exactly seized property? This is property taken under state or federal “seizure laws”. These laws allow law enforcement agencies to seize property that was used or acquired from illegal activities, was improperly imported into the country, or didn’t have required taxes or duties paid.
For instance, if a drug dealer uses the money he made from drug trafficking to buy a car or truck, even a house, it can be confiscated under the “seizure law”. Jewelry, furniture, computer equipment, art all can be seized.
The scope and quantity of seized property offered at government auction is staggering. You can buy aircraft, boats, cars, trucks, vehicle parts and accessories, clothing, computer equipment, recyclables like copper, iron, steel, aluminum and paper, houses, farms, acreage, antiques, collectibles, jewelry, hardware, tools, medical equipment, household furniture, boats, the list goes on and on. Anything you can imagine can probably be bought at these government auctions or police auctions, usually for pennies on the dollar.
These auction goods can also be merchandise that was seized by Customs. The seizure might be for smuggling, or improper importation, even failure to pay import duties or taxes. The US Customs agency often seizes entire cargo containers full of property. Many times, these consist of brand new merchandise that was originally intended for retail store sale, and are now being liquidated through a government auction.
Government auctions and police auctions are held individually by by each agency, from federal government agencies like US Customs, the FBI, IRS, and DEA, even your local city government and municipal sheriffs departments. Each agency is responsible for holding 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!
Related posts:
- Seized Property – The Ultimate Recipe for Value
- Easily Find the Top Government Auction Sites for Foreclosures and Seized Cars
- Common Misconceptions about Government Seized Auto Auctions
- Police Auctions – Buying Near New Used Cars for Under $1,000
- Government Auctions – Discover 60-95% Off Real Estate and Cars
