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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: Rights to transmit signals on bands of electromagnetic spectrum. Customs: seized smuggled items. Defense: military surplus. Police auction: proceeds of crime.
GCSurplus is a Canadian government department responsible for handling moveable Crown assets that a federal department or agency has declared as surplus under the Surplus Crown Assets Act (R.S., c. S-20, s. 1). [1] Surplus assets are typically auctioned off to the public through the GCSurplus website. [2]
Liquidity Services was co-founded by William P. Angrick III, Jaime Mateus-Tique, and Ben Brown in 1999. It was branded as Liquidation.com and was a B2B auction marketplace that connects sellers to buyers. [6] The platform allowed retailers to resell retail returns and overstock [7] and enabled buyers to access bulk lots of surplus merchandise. [8]
A government auction is simply an auction held on behalf of a government body generally at a general sale. Items for sale are often surplus needed to be liquidated. Auctions ordered by estate executors enter the assets of individuals who have perhaps died intestate (those who have died without leaving a will), or in debt.
In April 2024, Cheyenne was listed for auction on a government surplus site, with bidding starting at $2,500. [15] [16] After 27 bids, the auction closed on May 3, 2024 at a final bid of $480,085. [17]
War Assets Administration. The War Assets Administration (WAA) was created to dispose of United States government-owned surplus material and property from World War II. The WAA was established in the Office for Emergency Management, effective March 25, 1946, by Executive Order 9689, January 31, 1946. It was headed by Robert McGowan Littlejohn.
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