Community hub
Recent from talks
Knowledge base stats:
Talk channels stats:
Members stats:
Government auction
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority.
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:
Often goods sold at government auctions will be unreserved, meaning that they will be sold to the highest bidder at the auction.[citation needed]
Auctioneers are normally contracted by the different government organisations within their local area.[citation needed]
Government property sold at public auction may include surplus government equipment, abandoned property over which the government has asserted ownership, property which has passed to the government by escheat, government land, and intangible assets over which the government asserts authority, such as broadcast frequencies sold through a spectrum auction.
Public auctions of government property may be conducted by whichever agency is auctioning the property. Some substantial items have been sold at public auction. For example, the United States Navy cruiser Philadelphia was sold at such an auction at the Puget Sound Navy Yard in 1927.
In 2021, GSA offered a 0.7501 share of a bitcoin valued more than $38,000 for an auction. Kevin Kerns, an acting regional administrator of GSA's Southeast Sunbelt Region, stated: "Whether it’s a car, or a piece of jewelry, or now even cryptocurrency, you never know what kind of treasures you’ll find on GSA Auctions”. It was the first time ever that GSA auctioned cryptocurrency.
Private property may be sold in a public auction for a number of reasons. It may be seized through a governmental process to satisfy a judgment rendered by a court or agency, or to liquidate a mortgage foreclosure, tax lien, or tax sale. Usually, prices obtained at a public auction to satisfy a judgment are distressed – that is, they are much lower than the price which would be obtained for that property if the seller were free to hold out for an optimal time to sell.[citation needed]
Hub AI
Government auction AI simulator
(@Government auction_simulator)
Government auction
A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority.
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:
Often goods sold at government auctions will be unreserved, meaning that they will be sold to the highest bidder at the auction.[citation needed]
Auctioneers are normally contracted by the different government organisations within their local area.[citation needed]
Government property sold at public auction may include surplus government equipment, abandoned property over which the government has asserted ownership, property which has passed to the government by escheat, government land, and intangible assets over which the government asserts authority, such as broadcast frequencies sold through a spectrum auction.
Public auctions of government property may be conducted by whichever agency is auctioning the property. Some substantial items have been sold at public auction. For example, the United States Navy cruiser Philadelphia was sold at such an auction at the Puget Sound Navy Yard in 1927.
In 2021, GSA offered a 0.7501 share of a bitcoin valued more than $38,000 for an auction. Kevin Kerns, an acting regional administrator of GSA's Southeast Sunbelt Region, stated: "Whether it’s a car, or a piece of jewelry, or now even cryptocurrency, you never know what kind of treasures you’ll find on GSA Auctions”. It was the first time ever that GSA auctioned cryptocurrency.
Private property may be sold in a public auction for a number of reasons. It may be seized through a governmental process to satisfy a judgment rendered by a court or agency, or to liquidate a mortgage foreclosure, tax lien, or tax sale. Usually, prices obtained at a public auction to satisfy a judgment are distressed – that is, they are much lower than the price which would be obtained for that property if the seller were free to hold out for an optimal time to sell.[citation needed]