10 U.S.C. § 7666 : US Code - Section 7666: Mode of making sale

Search 10 U.S.C. § 7666 : US Code - Section 7666: Mode of making sale

(a) If a sale of prize property is ordered by the court, the
marshal shall -
(1) prepare and circulate full catalogues and schedules of the
property to be sold and return a copy of each to the court;
(2) advertise the sale fully and conspicuously by posters and
in newspapers ordered by the court;
(3) give notice to the naval prize commissioner at least five
days before the sale; and
(4) keep the goods open for inspection for at least three days
before the sale.
(b) An auctioneer of known skill in the business to which the
sale pertains shall be employed by the Secretary of the Navy to
make the sale. The auctioneer, or his agent, shall collect and
deposit the gross proceeds of the sale. The auctioneer and his
agent are responsible to the marshal for the conduct of the sale
and the collection and deposit of the gross proceeds.