Seized Property Auction

combatmailman

I have never heard mention on these boards about the Seized Property Auction. I have won items off of this auction and have not been disappointed yet. They Offer all sorts of coinage, jewelry and art work that has been seized from people for what ever reason. I have provided a link for their next auction which is set for 15 April with a viewing of items set for the 9th of April. I thought this would be good information as I have never seen it mentioned here before. What do you think? I have provided a link to the auction site.

Mark

LINK

123cents

I have known about the Seized Property Auctions for about two years. I have placed a few bids but have never won anything. The coins and paper money are always bid up more than I am willing to give.

garsmith

Thanks for the link, I just registered

MrEureka

They have an odd cataloging style for a firm claiming to be selling government property. It's almost seems like they're typical coin dealers.

DrWho

so, do YOU attest to claims that those auctions are part of govt. siezed property?

because i am/was very wary of such a claim. in fact they have no connection. beyond that, the prices realized are too high and there does not seem to be any protection to prevent SHILLING or HIDDEN RESERVES.

IMHO, this is just another bait and switch, claim to be govt siezures, estate sales, whatever, a sham being repeated over and over.

like freecreditreport.com. NOT free, just sucker bait.

what did you get and what did you pay? as a guideline to us all, to determine fair value for your buys? cause if we can not get fair value, we don't visit the site.

guitarwes

The coins always seen to go for ALOT more than even retail.


I've bid on several item pretty strongly, but always get outbid by crazy money.

Wolf359

<< <i>The coins always seen to go for ALOT more than even retail.


I've bid on several item pretty strongly, but always get outbid by crazy money. >>



Same here, the lots are overpriced. I won one lot, but returned the "GEM BU" because of a huge hidden scratch.

combatmailman

Drwho I won several coins and some jewelry for the wife at very reasonable prices. Of course with all auctions I do not pay over the coin worlds CV prices for coins, I also factor in the buyers premium of 10% into my winning costs. From previous auctions, they have alot of proof coinage, mostly raw and what I have won has never disappointed me thus far. Yes some of their prices do reach outrageous amounts, but most of them have been certified diamonds and certified gem stones. They seem to have alot of gold coins up for auction as well

ArgentumRex

It looks like their stuff comes from pretty much anywhere:


What types of property do you auction and where does it come from?
We auction all types of assets including automobiles, real estate, art, jewelry, gold and silver coins, and collectibles of all types, electronics, household items, business inventories and fixtures, and virtually anything of value. Personal property and business assets may have been seized and ordered sold at public auction by state and federal agencies for tax reasons and/or for various illegal activities. Collateral assets may be seized by banks and other lending institutions for non payment of debts. Banks liquidate property from abandoned safety deposit boxes. Attorneys and trustees liquidate assets to settle estates and bankruptcies. Also featured in our auctions are business inventory liquidations, dealer close-out merchandise, private estate items and valuables of all types.



The eagle logo is official looking, though.

DoubleDBusts

This is NOT a gov't hosted website. If it were a gov't or non profit it would be a .gov or .org. The federal gov't does not have their hand in these types of auctions, it is left up to the states and local governments. As mentioned earlier, probably some huxter making a killing on the ignorance of greedy buyers with more $$$ than brains.

TomB

This site has been discussed at least several times on these boards and they are not a government agency. They are a private entity that bends over backwards to appear to be a public, federal or government entity and I think you are the first board member that I can recall who believes the deals were good or even fair. If you do a search of the boards you will find older threads.

Boothill40

I have known about this site for some time and have bid but never won anything prices always seem to go on the high side.

combatmailman

I agree with you TomB that it is not a federal or government agency, I was just merely giving what I thought would be information on an upcoming Auction. I purchased a ring for my wife off there for 135.00 and when I received it we had it appraised at 950.00. And coin auctions I have purchased a couple of lots of mint sets for very reasonable prices. Yes some are outrageously priced, but if you look through it, you can find a deal or two. And as being the first board member to beleive deals are good, maybe I am just lucky at times to find the good deals.

TomB

In truth, you may actually have received some good deals from this site. All I have to go on is the extremely limited pool of experiences shared on the forum regarding this auctioneer.

RWB

(Are you a government agency?)
(Federal Asset Recovery Services and its official Web site “SeizedPropertyAuctions.com” is a private corporation which specializes in liquidating assets of all types. )


Go to GSA Auctions if you want to bid on sale of government property.

Pentimento

(a) Whoever knowingly displays any printed or other likeness of the great seal of the United States, or of the seals of the President or the Vice President of the United States, or the seal of the United States Senate, or the seal of the United States House of Representatives, or the seal of the United States Congress, or any facsimile thereof, in, or in connection with, any advertisement, poster, circular, book, pamphlet, or other publication, public meeting, play, motion picture, telecast, or other production, or on any building, monument, or stationery, for the purpose of conveying, or in a manner reasonably calculated to convey, a false impression of sponsorship or approval by the Government of the United States or by any department, agency, or instrumentality thereof, shall be fined under this title or imprisoned not more than six months, or both.

18 USC 713

I'm not a lawyer, and don't have time to really look into it, but I am a little suprised that they would risk it with that logo... It's obviously just a gavel photoshopped into the seal of the House.