[Code of Federal Regulations]
[Title 26, Volume 18]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR403.62]

[Page 780]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 403_DISPOSITION OF SEIZED PERSONAL PROPERTY--Table of Contents
 
           Subpart F_Administrative Sale of Personal Property
 
Sec. 403.62  Sale on sealed, competitive bids.

    If the property is to be sold to the highest bidder on sealed, 
competitive bids, the notice of sale shall so specify, and shall state 
the date, hour, and place of sale, and the date, hour, and place prior 
to the sale when and where prospective bidders may view the property and 
obtain necessary information. All sealed bids must be filed with the 
district director of the internal revenue district in which the property 
was seized before the sale. No bids will be accepted after the sale 
starts. At the appointed date, hour, and place of sale, all sealed bids 
timely filed shall be open in the presence of all bidders attending the 
sale, who shall have the privilege of inspecting the bids if they so 
desire.