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Surplus Record is a business directory of surplus, new, and used machine tools, machinery, and industrial equipment in the United States. It was founded in 1924 by Thomas P. Scanlan. The monthly directory, which is hundreds of pages long, has been referred to as "the bible of the used and surplus capital equipment industry". [1]
Built in 1905, the building was originally a New York Central Railroad freight depot. The building will soon return to the market. Rapid Transit Building auctions off nearly 500 items in 4 hours.
Court auction: items sold to satisfy a court judgment, like storage contents of not-paying tenants; Insolvent companies where the government is the liquidator (e.g. official receiver) Unowned property; Often goods sold at government auctions will be unreserved, meaning that they will be sold to the highest bidder at the auction. [citation needed]
The rest was sold to GovPlanet, which buys and auctions off government surplus. It is those materials, no longer in government possession, that are being sold off by the company.
The War Assets Administration (WAA) was created to dispose of United States government-owned surplus material and property from World War II. The WAA was established in the Office for Emergency Management, effective March 25, 1946, by Executive Order 9689, January 31, 1946. It was headed by Robert McGowan Littlejohn.
The material currently being sold through GovPlanet online auctions no longer belongs to the U.S. Government, and DOD has no legal authority to recall the material or stop further resale of ...