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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]
The Surplus Record has been available online since 1986, [4] when buyers would use 2400-baud modems to access it. Currently, it is the largest online directory in the world for surplus capital equipment. [5] The company started its own online auctions in 1999, [1] [6] a year before it was acquired.
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.
The 1944 Surplus Property Act provided for the disposal of surplus government property. To deal with these disposals, numerous short-lived agencies were formed, such as the Surplus War Property Administration in the Office of War Mobilization (February – October 1944); the Surplus Property Board in the Office of War Mobilization and Reconversion (October 1944 – September 1945); and the ...
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.
US Marshals auctioned off 32 cars and 25 powersport vehicles owned by "Omi in a Hellcat" creator Bill Omar Carrasquillo on October 13, netting $3.22 million for restitution.
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