Online auction marketplace Bid4Assets announced that it was awarded a new contract by the U.S. Marshals Service (USMS) to auction property forfeited to the federal government (contract #DJMS-06-AFO-F-0037). Under the terms of the contract, Bid4Assets will provide online auction services to the USMS for the sale of real estate, personal property and financial instruments.

The one-year contract took effect on October 1, 2006 and includes the option to extend for up to five years via one-year extensions. The estimated total value of the contract (base year plus options) is $4.75 million.

President and CEO Jeff Weingrad said in a press release, "Bid4Assets wants to thank the USMS for their confidence and support. We're proud of our long and successful relationship with the U.S. Marshals Service. This contract is a testament to Bid4Assets commitment to service excellence and delivering results."

Bid4Assets has provided the USMS with online auction services since 1999. The company has executed the successful sale of hundreds of assets including numerous multi-million dollar estates, Lamborghinis, Ferraris, a 58-foot yacht and a 1952 Topps #311 Mickey Mantle baseball card.

http://www.bid4assets.com