Bid4Assets

Bid4Assets.com Logo

Bid4Assets, established in 1999, was the first online real estate auction[1] website to operate in the United States.[2][3] The company auctions distressed real estate and personal property for private investors and federal and local government.[4] It has served the United States Marshals,[5] the U.S. Department of Treasury and over 55 counties [6] throughout the United States. To date, Bid4Assets has sold over 97,000 properties nationwide. The company is based in Silver Spring, Maryland.

In October, 2010, Bid4Assets hosted one of the largest online real estate auctions in the history of the United States in which over 13,000 properties located in Wayne County, Michigan were auctioned due to unpaid real estate taxes.[7] In 2011, the Wayne County Treasurer's Office netted a record $32 Million from the Bid4Assets online auction of 14,000 tax-foreclosed properties, double the amount collected the previous year.[8]

Notable items sold through Bid4Assets include the presidential yacht, USS Sequoia,[9] the original Watergate lock,[10] the Beastie Boys Grand Royal record label,[11] and the Golden Eye Diamond.[12]

References

  1. ↑ "BidWin.org | Why Online Real Estate Auction". community.bidwin.org. Retrieved 2015-11-15.
  2. ↑ DSNews http://www.dsnews.com/articles/bid4assets-sees-increased-buying-activity-2009-05-28
  3. ↑ http://www.myauctionfacts.com/Bid4Assets.com_Review.html
  4. ↑ Bloomberg Business Week http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=234824
  5. ↑ Washington Business Journal http://www.bizjournals.com/washington/stories/2006/11/13/daily16.html?jst=b_ln_hl
  6. ↑ San Francisco Chronicle http://www.sfgate.com/business/prweb/article/Riverside-County-California-Treasurer-Announces-4179124.php
  7. ↑ WDIV, Detroit http://www.clickondetroit.com/money/25040132/detail.html
  8. ↑ Pitch Engine http://www.pitchengine.com/bid4assets/office-of-wayne-county-treasurer-collects-a--record-32m-from-online-tax-foreclosure-sale
  9. ↑ "Bankrupt firms auction off assets on line Page 1". WashingtonTimes.com. 2000-07-17. Retrieved 2011-03-18.
  10. ↑ "Original Watergate Lock for Sale on Auction Site Bid4Assets Page 1". PRNewsWire.com. 2005-07-06. Retrieved 2011-03-23.
  11. ↑ "Bid4Assets Spins Record Label in Online Auction Page 1". AuctionBytes.com. 2004-01-14. Retrieved 2011-03-23.
  12. ↑ "Guess who bought the Golden Eye diamond?". CantonRep.com. 2011-09-08. Retrieved 2011-09-27.

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