A government auction house is getting a boost from a sale of $1 million to a private-equity firm.
The sale of the auction house to a US private equity firm has been expected for some time, as the auctioneers and their staff are paid through an escrow account held in the US Treasury.
The government said it had been interested in buying the auction property and has asked the US Government Accountability Office to approve the sale of it, but the agency has not yet done so.
The GAO is expected to issue a report in the coming days, but Fox News reported on Tuesday that the agency had not yet received the government’s recommendation for approving the sale.
The auction house was the largest private-sector auction in US history, and in recent years has become a symbol of Washington’s penchant for selling off assets, including state and local governments, to raise money for the military and other agencies.
The bid to buy the auction properties in Virginia, Connecticut and Florida was the biggest ever by an auction house, with the average price paid at the auction for the three properties at $837,000, according to a listing on the New York Stock Exchange.
The property is in the former Navy shipyard site of the Chesapeake Bay Naval Shipyard in Norfolk, Virginia.
It was used for many Navy ships from the 1960s until the late 1980s.
The New York Times reported that the government has said that the auction houses property could be used to finance military research, but that no specific research has been done.