The Internal Revenue Code requires that seized property be sold by Public Auction or Sealed Bid Auction. Either way, the auction is open to the public and bidding is conducted by an auctioneer (usually a Property Appraisal and Liquidation Specialist with the IRS) or through GSA Auctions. At the end of the bidding process or the opening of the sealed bids the highest recorded bid will be awarded the property being auctioned. Items for sale include antiques, automobiles, commercial/industrial property, real estate, patents, and much more. For complete information visit Internal Revenue Service Real and Personal Property Sales.
