Treasury Seized Property Auctions

The Department of the Treasury holds auctions for marketable securities each year to raise funds for the federal government and to refund maturing debt. Approximately 325 auctions are held each year to sell bills, notes, bonds, Treasury Inflation-Protected Securities (TIPS), and Floating Rate Notes. The Federal Reserve acts as the Treasury’s fiscal agent and assists in the administration of the auctions by accepting tenders, processing auction results, and serving financial institutions. Any entity or individual may submit a bid in an auction for a security offered through a competitive bidding process. To participate, an entity or individual must register to receive a bidder number before the auction date. This registration is free of charge and only takes a few minutes. Once a bidder is registered, the person or entity will receive a unique bidder number that they must use to access the auction website.

Once the auction has concluded, treasury officials work down the list of competitive bids and accept the highest one. The detailed list of bids accepted is not released, but the total amount awarded to each competitor is made public. An individual who does not want to be included in the competitive bidding process can submit a non-competitive tender. This is also known as a “direct tender.” Non-competitive tenders are guaranteed to be awarded, but the number of securities awarded cannot exceed $5 million for each auction.

Why Does the US Treasury Seize Property?

The US government auctions off property and assets that have been seized as a result of tax defaults, legal judgments, or criminal activity. The proceeds from these auctions are used to recoup losses and generate revenue for the Treasury. This includes real estate, vehicles, and other personal property. The Department of the Treasury and its agencies sell these assets to members of the public through a variety of auctions, both online and in-person. These auctions can be public or sealed bid. In either case, the highest bidder wins the property.

Purchasing real estate at a treasury-seized property auction provides unique opportunities to purchase mortgage-free properties below market value. However, it is important to understand the potential pitfalls associated with this type of investment. In addition, it is critical to conduct thorough research and seek professional guidance before making any purchases.

The US Treasury is currently offering luxury vehicles seized from Byron Keith Brown as part of his prosecution for his role in an online ponzi scheme. The auction will be held at Manheim Baltimore-Washington in Elkridge, Maryland, on March 1 and 2. The vehicle auction is open to the public, and previews will take place Monday, February 28, from 1 p.m. until 4 p.m. The proceeds from the auction will be placed in the Treasury’s Asset Forfeiture Fund, which is used to support law enforcement efforts and provide restitution to victims of crime.