Nationwide (PUBLIC AUCTION) ends 5/14/2024 11 AM ET ENTER AUCTION

Nationwide (SALVAGE DEALER) ends 5/14/2024 12 PM ET ENTER AUCTION

The U.S. Treasury Executive Office for Asset Forfeiture (TEOAF) plays a pivotal role in the federal government's efforts to manage assets seized or forfeited due to violations of laws enforced by the Treasury and other federal agencies. Over the years, TEOAF's auction history has not only demonstrated the government's commitment to disrupting criminal enterprises but also offered a unique perspective on the value and variety of assets that can be involved.

The Role of TEOAF in Asset Forfeiture

TEOAF is tasked with the management and disposal of assets seized by federal agencies under laws designed to strip criminals of their ill-gotten gains. The office ensures that the process is efficient, fair, and transparent, thereby maximizing the return to the government and minimizing the cost of asset management. Auctions, both online and in-person, have been a key method for disposing of these assets, ranging from luxury vehicles and real estate to one-of-a-kind items of historical value.

High-Profile Auctions and Notable Assets

TEOAF's auction history is dotted with high-profile sales that have attracted attention not only for the assets offered but also for their backstory. For example, luxury cars seized from drug lords, mansions belonging to fraudsters, and even aircraft used in smuggling operations have found their way to TEOAF auctions. Each auction not only tells a story of crime and justice but also highlights the government's efforts to recoup the proceeds of crime for the public good.

The Process and Impact of TEOAF Auctions

The auction process begins with the seizure of assets by federal agencies. Once legally forfeited, TEOAF takes over, managing the assets until they can be liquidated. The office works with auction companies like Apple Auctioneering Co to appraise and list the items, ensuring that they fetch market value and that the auctions are conducted fairly and transparently.

The impact of these auctions is twofold. Firstly, they serve as a deterrent to criminal activity by demonstrating that crime does not pay. Secondly, the proceeds from these auctions are used to fund further law enforcement activities, victim compensation programs, and community initiatives, thereby turning the tools of crime into assets for the community.

The Future of TEOAF Auctions

As the digital age progresses, TEOAF has increasingly moved towards online auctions to reach a broader audience and improve the efficiency of the asset disposal process. This shift not only broadens the buyer base but also enhances transparency and competition, potentially increasing the returns from these auctions.

Furthermore, as the types of assets involved in crimes evolve, TEOAF's auction inventory changes, reflecting the dynamic nature of crime and law enforcement's response to it. From cryptocurrency to intellectual property, the future of TEOAF auctions promises to be as diverse as the nature of crime itself.

The auction history of the U.S. Treasury Executive Office for Asset Forfeiture is a fascinating testament to the government's relentless pursuit of justice and its innovative approach to turning crime against itself. By managing and disposing of seized assets through auctions, TEOAF not only supports law enforcement efforts but also contributes to the greater good, making its auctions a unique and significant aspect of the federal government's fight against crime.

U.S. Department of the Treasury Auctions

U.S. Treasury seized vehicle auctions conducted throughout all 50 states including Puerto Rico & Guam.

How to register:

Select the auction you wish to participate in.
In the menu bar, create an account by clicking "Login / New Bidder" or by clicking "Register to Bid" button. Click the "New Bidder? Click Here" button. Enter your email address when prompted. A new window will pop up instructing you to complete your account information. The username and password that is created will be utilized for all future online auctions. Important: The information provided when setting up the bidder account will be the information automatically assigned on the title work.
Once your account has been created select the auction that you wish to participate in by clicking on the title of the auction or by clicking the "View Catalog" button. Click on the "Register to Bid" button. Enter your user name and password then accept the Terms & Conditions. You are now ready to place your online bids.

How to place a bid:

Once registered, select the lot you wish to place a bid on. You may click the "Bid (amount here)" button for a one time bid, or enter your "Maximum Auto Bid" by selecting the lot and physically typing in the highest you are willing to bid for that item.
Technical bidding details to understand and consider:
Soft Close: All lots end with a "Soft Close." A "Soft Close" means that if any bid is placed within the last three (3) minutes of the close of the Auction, the bid will automatically extend the closing time an additional three (3) minutes. Example: If a bid is placed at two (2) minutes before close, it will extend the closing time to five (5) minutes. This feature protects Bidders from being outbid without the opportunity to be notified, and therefore allows a Bidder to place another bid before the close of the Auction.
Placing a "Maximum Auto Bid": Please be aware that when placing your "Maximum Bid", the website will bid on the Bidder's behalf at the preset bid increment until the Bidder’s "Maximum bid" is exceeded. At that point, the Bidder will be notified that they have been outbid (if that option is selected when registering). High Bidder will only pay one increment more than the competing Bidder. Please watch the Auction’s closing time stop-clock to determine exactly when the lot will close.

"I've placed a bid, but it says Pending." Now what?

Pending Bids are bids that are placed that are not immediately accepted or put into effect by the Auction Company. Typical reasons for pending bids are as follows:

First-Time Bidder: New accounts or first-time bidders that have never participated in our auctions will be thoroughly analyzed and vetted.
Bidder Reputation: We are part of a nationwide network of auctioneers that utilize the Hibid bidding platform. Hibid has developed a rating system for Bidders to protect auctioneers. Bidders accrue points placing bids and registering for auctions. Any time a Bidder is permanently declined by an auctioneer, the bidder loses 20 points. If a bidder has a negative score, he or she may not be able to bid with other auctioneers on the Hibid platform.
Dealer Only Salvage Auctions: Additional bidding qualifications on assets offered with salvage/ dismantler notations must be met prior to the auction closing. Salvage dealers that wish to bid on these assets must submit a current copy of their State issued Salvage Dealer license for review. CLICK HERE TO SUBMIT LICENSE. Once approved, the Auction Company will update the Bidder's account and any bids that are Pending will be approved/ accepted. This must take place prior to the auction closing. These bidding privileges will remain in effect until the expiration date on the license. It is the Bidder's responsibility to resubmit a new license upon renewal to avoid Pending bids.
Asset Requires a Deposit: When a deposit is required, see Section (6) of the Terms & Conditions for step-by-step deposit instructions.

You've won! What to expect once the auction closes:

Once all items in the auction close, email notifications will be sent (from bidresults@appletowing.com) to all participating bidders with the final results. For each lot the bidder bids on it will list "successful" or "outbid." The auction company will be seeking final approval from the U.S. Treasury on all lots at this time.
Once approval is received, high bidders will receive an email (from approval@appletowing.com) with payment instructions and our bank account information (options: wire, bank deposit, or cashier's check overnight). Please check your email (and junk mail) periodically after receiving this notice. Payment must be RECEIVED within 48 hours of acceptance.
Once payment is received, the auction company will execute the title documents and email them to the buyers via DocuSign for electronic signature.
Once documents are signed by the buyer, Property Release documents will be emailed to the buyer as well as the storage vendor.
Once Property Release email received, buyer must immediately contact storage vendor to arrange property removal.
Original title documents will be mailed to buyers. Once originals title documents received, originals need to be processed at local DMV.

Please note: these assets will remain in the name of the defendant in which they were seized, until the titles are processed with the state. It is very important that the titles be transferred with your local tax office immediately upon receipt.

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