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Bid4Assets, established in 1999, was the first online real estate auction website to operate in the United States. [1] [2] The company auctions distressed real estate and personal property for private investors and federal and local government. [3]
The idea for the company was developed after observing a large amount of abandoned, seized, and recovered goods in the police property and evidence rooms. If police agencies are not able to return the stolen merchandise to the rightful owners, by law they must sell seized, recovered, found, and unclaimed personal property at public auction. [ 1 ]
In 2018, the company's $36.2 million sale of a property in Dallas, Texas was the highest price paid for a residential property that went to auction in the United States. [18] One year later, Concierge Auctions broke its own record for the most expensive home ever sold at an auction in the United States: an estate in Florida that sold for $42.5 ...
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Insolvent companies where the government is the liquidator (e.g. official receiver) Unowned property; 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 ...
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