The invention provides a method for conducting a computerized auction of government-held property that is subject to a tiered restriction process. The sale or transfer of a government-held asset can be restricted as to the community a potential buyer must be a member of and specific attributes of the buyer. The buyer is only allowed to bid on those assets for which his organizational community and attributes match those specified by the seller. Government agency sellers set up and define their own asset profile codes comprising community groups, which permits the seller to restrict the sale of a particular asset to as large or small a community as the seller desires and enables the government agency to accommodate any regulations or procedures that might be in place for a particular asset.