Thursday, October 20, 2011

Our government — a dealer in luxury items

Posted By on Thu, Oct 20, 2011 at 1:13 PM

How about a Rolls Royce? Or a ruby-and-emerald necklace? In the market for an airplane?

All these items are available through auctions by the U.S. Treasury Department.

If nothing else, you can take pleasure in knowing these items no longer belong to the wealthy among us. Various cars, planes, boats, real estate and jewelry are obtained by Treasury as forfeitures resulting from violations of federal law or nonpayment of Internal Revenue Service taxes.

Here's the latest notice for one of 300 auctions conducted annually in the U.S. and Puerto Rico:

The next Treasury Auction will be open for online bidding tomorrow. If you're in the Pompano Beach area please join us for the main previews at the Pompano Beach Warehouse until 4pm today. Here's a few of the items on the auction block:

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If jewelry is your thing, check out the variety of what Treasury is offering, like this piece:

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Or maybe you're a precious metals hoarder, in which case Treasury stands ready to satisfy your inner-Midas-itis.

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Anyone who believes what Scarlett O'Hara's father told her — “Land. It's the only thing that matters. It's the only thing that lasts.” — can find an array of parcels, like this one in Shawnee, Kansas, that includes a lot with a home on 20 acres ($350,000 minimum bid) and five undeveloped acres (minimum bid $42,000).

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