WVU Posted August 10, 2016 Report Share Posted August 10, 2016 http://www.cwsauctions.com/Auctions/801/Lots Anyone have experience with this stuff? I have bid on stuff but I always get outbid before the ending. I am currently high bidder on a couple items, but I'm not expecting to get them. Apparently these guys have a federal contract to auction off seized items by the IRS and Customs. It sounds like a scam. I called a guy yesterday and asked him how do I know the items aren't fake, etc. He said they have been doing this for years and they have a 3rd party appraise every item. This current auction ends in 6 days. The window to inspect the items is tomorrow in Pampano, FL from 9-3:30. I asked him if I could test the metals during the inspection and he told me chemical tests aren't allowed. I told him I can validate the metals using an app on my iphone and he told me that was fine. I asked him about the reserve and he told me for precious metals it is usually set at 75% of the current value which seems to be true based on my current bids. He invited me to look at previous auctions. I did and I really can't believe they are getting the bids offered. I checked an auction from May and silver lots were getting like $21 per ounce when the worth back then was like $16-$17. Who the fuck pays more than they are worth? Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 advertises auctions of seized Real Property for sale throughout the United States and Puerto Rico and includes single and multi-family residences; commercial and residential land; commercial buildings and warehouses; and operating businesses. These properties have been seized and forfeited due to violations of federal laws enforced by the U.S. Department of the Treasury. Participating enforcement agencies include: IRS-Criminal Investigations Division, Immigration and Customs Enforcement, and the U.S. Secret Service. All proceeds from the sale of property are deposited in the U.S. Treasury Asset Forfeiture Fund. This fund helps support continued law enforcement efforts and provide restitution to crime victims. The Department of the Treasury has designated CWS Asset Management and Sales (CWSAMS) as the prime contractor responsible for the maintenance and sale of seized and forfeited real property. Please visit the General Property auction site for other seized items for sale. https://www.treasury.gov/auctions/treasury/rp/ CWS marketing group the same as CWS asset management? Looks legit Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 https://m.facebook.com/CWSAuctions/posts/?ref=page_internal&mt_nav=1 Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 Same group should be good. Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 yeah, I'm leaning towards legit, but still can't understand the ridiculously high past bids. I guess people are just stupid. Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 yeah, I'm leaning towards legit, but still can't understand the ridiculously high past bids. I guess people are just stupid.You know they are, but they're also cheap. Doesn't make sense. But they appear to be legit Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 If anyone wants to get in on the bidding I am considering going to the inspection tomorrow. Let me know what you want me to inspect. I can also pick it up for you after the auction. They do not ship, you either have to pick it up directly or arrange for a private shipper. Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 US dept of treasury Frequently Asked Questions How do I participate in an on-site auction? Sale participants must register to bid during the specified registration time for the sale. Just bring a valid government issued photo ID and the cashier's check deposit to register and receive your bidder number. Click here to view the bidder registration form pdf icon. This form can be printed out and completed prior to the auction. You do not need to mail or fax the completed form, just bring it to the auction to register. Forms will also be available at the auction. You should read and understand the Terms of Sale before you bid. Sales personnel at the auction site can answer any questions you may have. Property is sold through open, progressive voice bidding. The placement of a successful bid at a Department of the Treasury auction establishes a legally binding contract between the successful bidder and the Government. The auctioneer's announcement of the high bid amount and the bidder's number establishes the contract which is subject to final acceptance by the Government. All property is sold "as is." You do not need a broker to participate. The bidding progresses quickly during the auction. Please pay close attention. Failure to do so or bidder misunderstanding will not be reason enough to cancel a sale. If you need any help or clarification, ask a bid assistant. To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader® You are leaving the U.S. Department of the Treasury public web site. << BACK Where are auctions held? Typically, auctions are held "on-site" at the property location. Some auctions are held on-line only and interested buyers will need to follow the specific directions for that auction to register and bid. << BACK What type of property is auctioned? Typically, a wide variety of real property is available, including homes, condominiums, commercial buildings, operating businesses, and vacant land. << BACK Should I inspect the Real Property? It is strongly recommended that you attend open houses/inspections. These open houses/inspections are the only opportunity you have to get answers to your questions, since property is sold "as is" and all sales are final. Property may not be available for inspection the day of the sale. Please take advantage of the open houses/inspections as they are provided for your benefit. The bidder is invited, urged, and cautioned to inspect the property prior to submitting a bid. Failure to inspect property shall not constitute cause for cancellation of sale. Property will be available for inspection at the times specified. Absolutely no access to property is allowed without prior authorization. At their own expense, potential bidders may have property inspectors examine the property during regularly scheduled open houses. << BACK Do I have to be present to participate/How do I submit a written bid for an on-site auction? If you cannot attend the auction, you may submit a written bid by sending a completed written bid form pdf icon, your written bid clearly marked, and the cashier's check deposit made payable to CWS Marketing Group, Inc in the amount specified by the Terms of Sale to: CWS, U.S. Department of the Treasury Seized Real Property Support, 10611 Balls Ford Road, Suite 140, Manassas, VA 20109, Attn: Real Property Sales. Bids must be received no later than 5:00 p.m. one day prior to the sale date, unless otherwise stated in the Terms of Sale. Unsuccessful bids will be returned within five (5) business days by certified mail. Written bids will not be disclosed prior to the auction. You may also send a representative to bid on your behalf by signing over temporary notarized Power of Attorney, which must include the buying party's social security number and appropriate language for having authority to bid/purchase real estate. To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader® You are leaving the U.S. Department of the Treasury public web site. << BACK Can I bid on the internet? Certain real properties may be offered for auction on the Internet. Persons wishing to participate in electronic bidding are required to register online at the designated website. In completing the registration process, the bidder agrees to comply with all electronic deposit requirements and acknowledges full and complete understanding of all Terms and Conditions. << BACK Can I get a good deal at these auctions? The final price of auctioned properties depends on public interest. Good buys are possible, just be sure to do your own research and inspect the property. << BACKHow does the deposit work? To qualify to bid, photo identification and a cashier's check deposit (amount varies) must be presented at registration. Cashier's checks must be made payable to: CWS Marketing Group, Inc. Immediately after the bidding, the high bidder will be required to provide their earnest money deposit check. In most cases, the second high bidder will also be required to make a deposit. The Terms of Sale will explain deposit requirements for each property. If you are not the high bidder or second high bidder, we do not collect your deposit. The successful bidder's deposit will be retained as the initial payment for the property. This deposit is non-refundable. Personal or business checks, money orders, cash, credit cards, bank letters, or letters of credit will not be accepted. << BACK What happens to my deposit check if I am not the winning bidder? If you are not the winning bidder, we do not collect your deposit. You should check with your bank on their procedures for re-depositing checks. In most cases, they either “void” the cashier's check or stamp it with “not used for the intended purpose” and will re-deposit the money in your account. << BACK When multiple properties are being sold at the same time and location, how many deposit checks do I need if I wish to bid on more than one property? It depends on how many properties you are planning to buy. If you wish to bid on all but purchase only one, than you need only one deposit check (generally the properties will be sold in the order they have been listed on the website and flyer.) If you are planning on buying more than one property, you will need a deposit check for each one. You have a choice of having multiple checks or one check totaling the sum of the deposits needed. However, if you do not win all of them, you will need to leave that check as an initial payment(s) toward the final price of the property or properties. We do not have the capability to refund a portion of a deposit check. << BACK Is there a minimum/reserve bid? Generally, the Government does not place a minimum/reserve bid on items. However, the Government reserves the right to accept or reject any and all bids. Occasionally the Government will establish a minimum/reserve bid, this minimum/reserve bid is not released to the public. In most cases, the minimum/reserve bid is met. In the event the high bid does not reach the minimum/reserve bid, the Government may open negotiations with the high bidder. << BACK How is the opening bid established? The opening bid will be established on the floor at the time of the auction. << BACK Do I need to read the Terms of Sale? Yes. The Terms of Sale are the specific guidelines and rules that each bidder is required to follow. You can find the Terms of Sale linked to the description of each real property on the treasury website. << BACK How does a closing work/When is payment due? Closing is usually required within 30 calendar days of sale or sooner. Only the seller may, at its discretion, exceed closing beyond 30 calendar days. Closing costs including, without limitation, transfer taxes, documentary stamps, recording fees, and escrow fees will be paid by the Buyer and Seller in accordance with the customs of the county in which the property is located, unless stated otherwise in the individual Terms and Conditions of Sale. << BACK What forms of payment are acceptable? Cashier's or Certified checks made payable to CWS Marketing Group, Inc are the only form of payment accepted. Forms of payment that are not accepted include: Personal or business checks, money orders, cash, credit cards, bank letters, or letters of credit. Click here to view a sample check. Please check the Terms of Sale for the specific instructions regarding payment. A link to the Terms of Sale can be found on each property's webpage. << BACK What happens if I can't close? If you cannot make deposits or final payments within the time frames specified in the Terms of Sale, you will forfeit any right and interest in the property. Title of the property will remain with the Government and you will forfeit any deposits you made. << BACK Is financing available? The Government does not offer financing. You are strongly encouraged to investigate and secure financing arrangements, if required, prior to attendance. Failure to obtain financing does not relieve you of your obligation to close on the property. << BACK Do I get a clear title? Unless stated otherwise, a clear title will be conveyed via a Government Deed. Back taxes, liens and/or other encumbrances will be paid by the Government. Sometimes, title is conveyed with Special Warranty Deed or Quit Claim Deed. The type of deed will be identified in the Terms of Sale. << BACK What is a Special Warranty Deed? A Special Warranty Deed requires the Government to defend the title against defects or clouds arising from the forfeiture process and to indemnify the buyer. << BACK Do I need a Broker? No, you do not need a broker in order to bid. If you do have a broker, all arrangements, including any fees and broker commissions, are strictly between you and the broker. << BACK Are there any restrictions on who can bid? Yes. You must be over 18 years old and cannot be the party or agent of the party from whom the property was seized. Forfeited real property will not be sold to the defendant or person(s) acting as his/her agent. A real property sales contract may be cancelled by the Government after review of records. << BACK If I am not a U.S. citizen, may I participate? Yes, but you must have a valid photo I.D. to register. << BACK If I am a Government Employee, may I participate? Employees of the Department of Treasury and members of their immediate family are prohibited from bidding on any real property. If you work for another Government agency, check your agency's policies. << BACK Why is property seized? Most property is seized due to smuggling, drug trafficking, money laundering, credit card fraud, food stamp fraud, mail fraud or other illegal activity. << BACK How do I know this is a reputable auction? The Department of the Treasury has designated CWS Asset Management & Sales (CWSAMS) as the prime contractor responsible for the maintenance and sale of seized and forfeited real property. Our website is incorporated into the official Treasury site, http://www.treasury.gov/auctions/. CWS is not affiliated with any other auction information services, seminars, or publications, and we never charge a fee to access these auction listings. << BACK Are there any fees ? CWS never charges a fee to access auction listings. You do not pay a buyer's premium. Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 Not exactly the activity I'd expect Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 Is there a minimum/reserve bid?Generally, the Government does not place a minimum/reserve bid on items. However, the Government reserves the right to accept or reject any and all bids. Occasionally the Government will establish a minimum/reserve bid, this minimum/reserve bid is not released to the public. In most cases, the minimum/reserve bid is met. In the event the high bid does not reach the minimum/reserve bid, the Government may open negotiations with the high bidder. This is not true at all. Most everything of value has a reserve, at least on the online auctions. Quote Link to comment Share on other sites More sharing options...
Chickadee Posted August 10, 2016 Report Share Posted August 10, 2016 Don't rely on third party to verify PM's IMO.SE Asia are putting out a lot of fakes these days that can dupe gravity test/acid testing.Ping test is something you can download for be IOS which is better a better choice IMO: http://www.cointrustapp.com/en/index.php But if you buy/sell a lot of PM's you need this: http://www.sigmametalytics.com/ Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 Id have to guess its legit but it's surprising there aren't more reviews. Their info is pretty easy to find. Most fraudulent auction sites sell in the cheap. Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 Is there a minimum/reserve bid? Generally, the Government does not place a minimum/reserve bid on items. However, the Government reserves the right to accept or reject any and all bids. Occasionally the Government will establish a minimum/reserve bid, this minimum/reserve bid is not released to the public. In most cases, the minimum/reserve bid is met. In the event the high bid does not reach the minimum/reserve bid, the Government may open negotiations with the high bidder. This is not true at all. Most everything of value has a reserve, at least on the online auctions. https://www.treasury.gov/auctions/treasury/rp/faqs2.shtml Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 Mofome, let's buy some shit. I got my eye on a Mercedes C300 in Opa Locka, FL. It isn't up yet, but should be in the next few days. Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 Mofome, let's buy some shit. I got my eye on a Mercedes C300 in Opa Locka, FL. It isn't up yet, but should be in the next few days.http://www.cwsauctions.com/lots/1214916/detail Quote Link to comment Share on other sites More sharing options...
Bimmercando Posted August 10, 2016 Report Share Posted August 10, 2016 I buy from reliable and accredited online auction houses.if you are looking to buy precious metals, just do it properly throughan investment house or major coin dealer. You are not going to score a deal at these types of "advertised" forfeiture auctions etc, etc. I buy coins. If you want to buy gold or silver coins and then have to melt down, there is a cost and minimum weights at the melt houses. You will lose fair percentagewhich is a reason you sometimes will not be paid the gold value for somethingthat only has value in melt condition. If numismatic value like in some better conditioncoins, there's a premium. I have some old gold US coins and gold bars ready to sell offif you want them and if you are really in the market. Beware of Chinese counterfeits - coins especially!! Any auction house that is commissioned to sell off lots sells off the scrap or sets a high reserveon other items or refuses sale stating reserve not met if no reserve was set.Online and / or live at the auction ensures your bid is recognized. Often there are lower buying commissions live on site vs live online. I always see the auctions advertised in the Sentinel or Miami Herald for Ft Laud or Palm Beach auctions and don;t blink an eye, as you will pay top dollar for anything you want and if you getsomething you will never be sure if it's worthy of the price. Quote Link to comment Share on other sites More sharing options...
Bimmercando Posted August 10, 2016 Report Share Posted August 10, 2016 Here's an online auction group that has some okay (but always "buyer beware" ) auctions. www.icollector.com Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 Mofome, let's buy some shit. I got my eye on a Mercedes C300 in Opa Locka, FL. It isn't up yet, but should be in the next few days.Lmfao I wouldn't buy myself a car for more than 4,000, and I'd have to get a license to do that. I got my pops one. Id buy silver/gold but it looks like I missed the time to purchase. I don't use anything. I'd invest in something, but I don't have a clue what so I just send money to help random people a few times a month. What happened to the school you were going to buy in pa? I look at land from time to time, thanks to your thread; I have a friend who can build anything anywhere and gets materials cheap. Quote Link to comment Share on other sites More sharing options...
Mofome Posted August 10, 2016 Report Share Posted August 10, 2016 http://www.cwsauctions.com/lots/1214916/detail Pretty clean. What are you thinking it goes for? Quote Link to comment Share on other sites More sharing options...
joeybagadonuts Posted August 10, 2016 Report Share Posted August 10, 2016 That benz looks nice WVU. My little brother has the 2013 c300 4matic Fun car to drive Quote Link to comment Share on other sites More sharing options...
trytrytry Posted August 10, 2016 Report Share Posted August 10, 2016 tempting Lot 103: 40 Watt Lightbulbs (1500 each) Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 Lmfao I wouldn't buy myself a car for more than 4,000, and I'd have to get a license to do that. I got my pops one. Id buy silver/gold but it looks like I missed the time to purchase. I don't use anything. I'd invest in something, but I don't have a clue what so I just send money to help random people a few times a month. What happened to the school you were going to buy in pa? I look at land from time to time, thanks to your thread; I have a friend who can build anything anywhere and gets materials cheap.That school near Pittsburgh was an awesome piece of property. I went to see it after a ski trip I took. It got bid up to like 50k and my limit was like 42k. I forget the actual numbers but I was outbid in the last hour or so. 45,000 square foot building on a flat 5 acres. The new windows themselves was worth over 100k. The heating unit was worth another 40k. I didn't get to see it until after the auction was over. The seller happened to come by as I was checking it out and we had a good conversation about investment properties. I'm still not exactly sure what i would have done with it. Your buddy Seymore was going to partner up with me on it. Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 Pretty clean. What are you thinking it goes for?judging by past auctions probably about 12k Quote Link to comment Share on other sites More sharing options...
timetopay Posted August 10, 2016 Report Share Posted August 10, 2016 I registered just to f with you an out bid ya on all the ones you were on. Seems I need to get approved or some shit though so your safe for now :hurray Quote Link to comment Share on other sites More sharing options...
WVU Posted August 10, 2016 Author Report Share Posted August 10, 2016 I registered just to f with you an out bid ya on all the ones you were on. Seems I need to get approved or some shit though so your safe for now :hurraywelcome back, ya fuck Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.