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What are GOV auctions?

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Quick Answer

GOV auctions are auctions periodically held by the federal or local government agencies to dispose of surplus and unclaimed property. Some of these sites feature property seized from criminals and property forfeited in tax liens. The property offered for auction may include real estate, heavy equipment, planes, jewelry and electronics.

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Full Answer

The Internal Revenue Service conducts periodic auctions of property seized to satisfy tax debts. The Treasury Executive Office for Asset Forfeiture handles government auctions of property seized by the U.S. Treasury Department and the Department of Homeland Security. The proceeds from these auctions are normally deposited into a general fund used to fund law enforcement activities or compensate victims of crimes.

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