How Items Arrive at Auction from Government Seizures and Estates
If you’ve ever perused the listing for an auction offering seized goods or items from an estate, you may wonder how the things up for bid got there in the first place. While these may seem like very different ways for property to end up at auction, police seizures and estates have important things in common: motivated sellers who need the expertise of an outside expert to connect them to interested buyers.
Many government agencies, from the federal level down to local, are empowered to seize goods under a variety of circumstances. The Internal Revenue Service might seize property for violations of federal law or for nonpayment of taxes. The police can seize property suspected of being connected with a crime, under laws designed to hit back against drug dealers, racketeers, and crime syndicates.
Of course, the agencies that wind up with these goods aren’t equipped to store them indefinitely, nor are they in the position to sell the items themselves. Generally, they contract with experienced auction companies to bring the goods to market. Auction King is one such company, and according to the live online auction site, while an auction doesn’t net full market value on the items for sale, it does provide income for the agencies, as well as a practical solution to keep goods from piling up.
Another common source of auction items is estate sales. In the case of inheritance, there are any number of reasons why goods may wind up for sale. A family may need to sell a portion of the estate to cover inheritance taxes. There could simply be items that nobody wants or has any use for—grandma’s diamond tiara may be beautiful, but it’s not doing anybody any good if it gathers dust. Or the sheer volume may be more than any of the heirs are equipped to take, if they already have houses full of their own stuff. The term “estate” can also cover the case of owners who are downsizing and need to dispose of excess stuff, divorcing couples who are liquidating assets to equitably divide their property, or those who are selling off possessions to settle a debt.
Whatever the reason owners decide to sell, an auction company is often the best solution for disposing of estate goods. Rather than dragging out the process of selling things off, an auction company can take care of the entire process in a short period of time. Auction companies also have the expertise to put specialty goods, such as artwork and collectibles, in front of the audiences most likely to purchase them. Thus, people who’d like to turn their possessions into cash hire auction companies to do the job for them, knowing that they’ll have an easier time finding buyers than if they went it alone.
Online auctions offer jewelry, luxury watches, fine art, collectibles, and more from police seizures and estate sales as well as from overstock, clearance, and closeouts. They are committed to bringing the finest goods to our bidders and some provide an exciting live-bidding experience from the comfort of your own home. Do a quick search for "police auctions" or "estate auctions" online, and you'll be on your way to finding new treasures at a fraction of what you'd normally pay. Happy shopping!