Military scrap auction tallies $748,000 in sales

Oct 19, 2005 | 02:17 PM | Paul Schaffer

Winning bidders spent $748,000 at a Web auction of U.S. Defense Department scrap, with prices ranging from $5.06 per pound for high-temperature alloys to 2 cents per pound ($43 a long ton) for predominantly steel office furniture parts.

The auction on a site run by Government Liquidation LLC, Scottsdale, Ariz., which is part of Liquidity Services Inc., ended Friday.

The winning bids listed here include a 10-percent buyer's premium that goes to Government Liquidation, which was assigned a nationwide auction role under a Defense Department contract awarded earlier this year. Small lots valued at less than $5,000 are ignored.

The most active bidder spent $135,000 to win seven lots, mostly fired brass shells in Norfolk, Va., which went for $1.22 to $1.31 a pound. Each bidder is assigned a unique serial number but its actual identity is not disclosed.....

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