ROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEXROLEX

baller24 · 11 June 2012, 10:23 AM

I'm assuming these are a scam? Got something in the mail last week about a Drug Dealer seized asset auction at a very nice hotel across from my building tomorrow.

It said they had several Rolexes that had been authenticated.

if you have experience with these, would love to know about them.

TimeToGo · 11 June 2012, 10:27 AM

No Scam.

Was this auction for the State, County or Federal?

The US Marshalls handle the Department of Justice seized asset liquidation. For the Department of Treasury and Deparment of Homeland Security agencies, a contractor does the deed. It goes as high as someone is willing to pay.

There are folks that travel the nation for these auctions and are very well versed in values.

The Maddof estate was sold primarily by the Marshal's.

baller24 · 11 June 2012, 10:56 AM

Quote:

Originally Posted by TimeToGo

No Scam.

Was this auction for the State, County or Federal?

The US Marshalls handle the Department of Justice seized asset liquidation. For the Department of Treasury and Deparment of Homeland Security agencies, a contractor does the deed. It goes as high as someone is willing to pay.

There are folks that travel the nation for these auctions and are very well versed in values.

The Maddof estate was sold primarily by the Marshal's.

it didnt have any details at all as to who was holding the auction. just had the location name, address and list and pictures of a few items. I believe there is like an 18% auction fee or something crazy on top of the price.

Wolfgang427 · 11 June 2012, 11:04 AM

Not a scam but these are run by private companies that go from state to state offering the same stuff over and over again at usually inflated prices especially considering the buyers premium. Goverment auctions are a whole different ballpark and usually don't have any BP's with them and some have no tax due as well.

azguy · 12 June 2012, 02:17 AM

No scam, I've been to a few...mostly junk and yes fakes both in art work and jewlery.....

But on the plus side, you may be able to buy a car with trap doors and hidden compartments...

bewithabob · 12 June 2012, 03:05 AM

Yes I have heard that one can get some very authentic fakes at these seized asset auctions.

Grumpy Badger · 12 June 2012, 03:39 AM

Quote:

Originally Posted by bewithabob

very authentic fakes

I know what you mean but...!?!

MoBe · 12 June 2012, 04:54 AM

As games of chance go auctions are just another example of where the house always wins.The chance of finding a bargain Rolex at auction is slim to none once the buyers premium and taxes have been factored into the price.

11 June 2012, 10:23 AM	#1
baller24 Banned Join Date: Feb 2012 Location: dallas Watch: SS Daytona Posts: 111	Seized asset auctions? I'm assuming these are a scam? Got something in the mail last week about a Drug Dealer seized asset auction at a very nice hotel across from my building tomorrow. It said they had several Rolexes that had been authenticated. if you have experience with these, would love to know about them.

11 June 2012, 11:04 AM	#4
Wolfgang427 2024 ROLEX DATEJUST41 Pledge Member Join Date: Aug 2006 Real Name: Wolfgang Location: New Jersey. Watch: Rolex Tudor Omega Posts: 5,590	Not a scam but these are run by private companies that go from state to state offering the same stuff over and over again at usually inflated prices especially considering the buyers premium. Goverment auctions are a whole different ballpark and usually don't have any BP's with them and some have no tax due as well. __________________ TRF member #917

12 June 2012, 03:05 AM	#6
bewithabob "TRF" Member Join Date: Jan 2008 Real Name: Bob Location: Dallas, Texas Watch: Daytona Meteorite Posts: 3,414	Yes I have heard that one can get some very authentic fakes at these seized asset auctions. __________________ meteor flying to Earth onto my wrist... 116509 Daytona Meteorite, 116520 Daytona Black, 116710 GMTIIC, 16013 DATEJUST, CARTIER SANTOS 100 W20090X8, IWC Big Pilot, IWC Top Gun "Everything works out in the end. If it hasn't worked out, it's not the end."

11 June 2012, 10:27 AM	#2
TimeToGo 2024 ROLEX DATEJUST41 Pledge Member Join Date: Sep 2008 Location: North Florida Posts: 16,627	No Scam. Was this auction for the State, County or Federal? The US Marshalls handle the Department of Justice seized asset liquidation. For the Department of Treasury and Deparment of Homeland Security agencies, a contractor does the deed. It goes as high as someone is willing to pay. There are folks that travel the nation for these auctions and are very well versed in values. The Maddof estate was sold primarily by the Marshal's.

12 June 2012, 02:17 AM	#5
azguy Banned Join Date: Sep 2011 Real Name: ------- Location: ------- Watch: --------- Posts: 12,609	No scam, I've been to a few...mostly junk and yes fakes both in art work and jewlery..... But on the plus side, you may be able to buy a car with trap doors and hidden compartments...

12 June 2012, 04:54 AM	#8
MoBe "TRF" Member Join Date: Sep 2011 Location: Canada Posts: 6,773	As games of chance go auctions are just another example of where the house always wins.The chance of finding a bargain Rolex at auction is slim to none once the buyers premium and taxes have been factored into the price.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)