Is this auction site legit?

[AUJack]

Does anyone have any history with this website? http://www.seizedacuuisitions.com/index.html I registered in order to have a look at the bidding going on. I know that I am new to the buying end, and it seemed odd to me that people would pay $80.00 US for a 1 gram bar of fine gold. Or is this just rich folks buying up everything in wait for the price to keep going up?

 

[cyberdan]

Does anyone have any history with this website? http://www.seizedacuuisitions.com/index.html I registered in order to have a look at the bidding going on. I know that I am new to the buying end, and it seemed odd to me that people would pay $80.00 US for a 1 gram bar of fine gold. Or is this just rich folks buying up everything in wait for the price to keep going up?

I doubt seriousally it is government run. It looks like they just put up a few things to make it look legit. Ever get junk mail that looked like the government wanted to talk to you?

I did a godaddy search, the website is registered thru Domains by proxy, a lot of websites do this so you can't find out the name and address of the owner.

Very odd that $45 worth of gold sells for $80
some rich folks are rich because they know the value of things they buy
could these be fake buys to make you want to buy also?
I am not going to register to take a peek.

 

[Drewbie]

IIRC they are contracted by the USG to auction of seized goods.

Using anonymous WHOIS for their domain doesn't help their legitimacy though.

 

[g_axelsson]

Sounds a bit shady to me...
Use "U.S.+Property+Acquisition+Services" on http://www.google.com/ and you will find some interesting results.

Göran

 

[g_axelsson]

... and if this is a shady site then I suggest that we remove any links to it before googlebot sees it and gives the site a boost in the rankings. We don't want to add any spam ourselves do we?

Göran

 

[Westerngs]

it seemed odd to me that people would pay $80.00 US for a 1 gram bar of fine gold.

There are people that do really stupid things. About a month ago I went to an auction that had many bullion items. The spot price for silver was at 19.99 an ounce and gold was around $1250.

I was amazed to see people pay anywhere between $120 and $180 for 1 ounce silver bars and coins. The bidding would start at $50. The same story for gold. I saw Krugerrands go for well over $1600.

Needless to say, I walked out barehanded. I never even bid on anything as the starting bids were all way over spot.

I took my 8 and 12 year old kids with me. They had a good time listening to the auctioneer and seeing the auctioneer aides goad people into bidding higher and higher. It was a good learning experience for them.

 

[Dan Dement]

Understand, a lot of auctions are not real auctions as they have shills bidding things up. Happens all the time. Don't be the last guy with your hand up.

Dan