A thought crossed my mind the other day as I was having a discussion with someone. Every entity is suppose to justify their need for IPv4 address space from ARIN. This was always (in recent history) the case. No entity is suppose to be given more IPv4 space until they have nearly exhausted their previous space. How is it, then, that we daily for the last 2-3 years have places like Hilco that have sometimes 15-20 large IPv4 blocks up for auction? Supposedly we are completely out of IPv4 space, yet every day large blocks are being sold for money, yet they were never returned because they weren’t needed. Another thought: being that IPv4 address space is essentially leased to you from ARIN, can you even legally auction your space to someone else? I know it’s happening, but it would almost be like me auctioning my apartment to another random person.