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The auctions have ranged in size from 150 to 300 pieces of equipment, with a total value of $400,000 to $750,000. The first NRC-organized auction took place in March 2004, and have been held annually without interruption ever since.
Government property sold at public auction may include surplus government equipment, abandoned property over which the government has asserted ownership, property which has passed to the government by escheat, government land, and intangible assets over which the government asserts authority, such as broadcast frequencies sold through a spectrum auction.
FedBid, Inc. is now known as Unison Marketplace Inc. Unison Marketplace is a privately held company based in Vienna, Virginia, that operates a full-service online marketplace designed to optimize how federal, state and local governments, and educational institutions purchase simple goods and services such as IT products, office supplies and lab equipment, through a reverse auction-based platform.
Deals on vehicles and jewelry through a U.S. government auction website were a steal in more ways than one: ... He defrauded the government out of more than $150,000 between Jan. 31 and March 21 ...
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]
In this case, the effect of driving massive cost inflation directly impacts civilians and non-Government consumers who are also competing for the same goods and services against the US Government acquisition commands; ultimately the deep pockets of the Government win out against the lesser buying power of the non-governmental market participants.
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