government auction
Public asset liquidation
A government auction is a public sale where federal, state, or local agencies sell off surplus property, seized assets, or forfeited goods to the highest bidder.
Items range from vehicles and real estate to office equipment and unclaimed merchandise.
They bought their truck at a government auction for half the retail price.
- bidOffer to purchase
- opening bidFirst price proposed
- going onceAuctioneer's initial announcement
- highest bidderWinner at auction
- surplusAmount exceeding requirement
seized · property · forfeiture · gavel · lot · foreclosure · estate · confiscated · federal · treasury · customs · fleet · vehicles · equipment · impound · liquidation · reserve · buyer beware
- auctionsbidding, bid, bidder, hammer price, gavel
- salessale, sales, selling, salesperson, salesman
government auctionprivate sale
Transaction without public offering
estate sale · garage sale · flea market · consignment shop · pawn shop
government auctioneminent domain
Forced government land acquisition
nationalization · government seizure · compulsory purchase · expropriation
government, auction, govern, governor, governess, governance, governing, governed, governs