Exotic Cars as Expensive as Homes Found in Government Auctions

Fountain Valley, CA, September 16, 2006 --(PR.com)-- Does owning a vehicle that cost as much as a home interest you? If a car payment equivalent to a mortgage fits your budget, then pay a visit to a government auction that is open to the public. The Department of The Treasury will be hosting a very unique vehicle auction on September 27, 2006 in Rancho Dominguez. These vehicles have been seized by the Treasury Department and will be sold to the general public.

There will be a total of 18 vehicles to choose from. All the vehicles are from different makes and models. Some examples of the type of exotic vehicles available are, a1968 Ford Mustang Shelby GT500KR Cobra Jet 428, a 2001 Ferrari 360 Modena F1 Spider Convertible, a 2004 Lamborghini Murcielago, a1996 Hummer H1 Stretch Limo, a 2004 Maybach 62, a 2004 Rolls Royce Phantom, and many more.

Currently Ebay listings show similar vehicles that are available in the auction being sold online. For example a 2004 Maybach has a current bid of $153,101.01 , a similar 1968 Ford Mustang GT500 is listed with a buy it now of $159,000, then a similar 2004 Rolls Royce Phantom is listed with a buy it now price of $238,000.00. The difference between the Treasury Auction and Ebay is that there is no minimum bid and no set reserves for any of the vehicles being offered in Rancho Dominguez. However, the auction house has the right to refuse or accept any bids as well as run a background check on the buyer to make sure he or she is not related to the previous owner of the vehicle.

To place a bid on any of the vehicles, bidders can either show up at the Rancho Dominguez auction house or place bids via Internet. Online bidding will be accepted as long as the bidder registers. There will be a required $10,000 cashier’s check deposit for all participating bidders. In the event a bidder is unsuccessful, the deposit will be refunded within 5 business days after the auction.

For more information regarding The Department of The Treasury Auctions, visit PoliceAuctions.com. PoliceAuctions.com provides access to members to checkout a database of government auctions for all 50 states as well as has the ability to find unclaimed money, foreclosures, boat auctions and government benefits.

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