What Goes On At A U.S. Treasury Auction?
We've covered a lot of government auctions on this site and I'd always been curious about attending one so I jumped at the chance to check out the action in person attending the U.S. Treasury Public Auction put on by Rick Levin & Associates and VSE Corporation at the VSE warehouse in Riverside, California on June 9. There are quite a few differences between this type of auction and an auction house event.All the action takes place in the room, there are no phone banks or online bidding. Registered bidders receive their numbers and stake out a place in metal folding chairs in a slice of the warehouse that has been walled off. There's no ambiance here, people are looking for one thing, a real bargain.
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