This is what most people think of when they hear the word “auction”. A standard live auction is held in-person and is conducted by an auctioneer calling the bid live in the normal chant fashion. (We also allow for phone or absentee bidding)
This auction type is a hybrid of both live and online auctions. The auction itself has a live crowd that is bidding but it is being streamed to an online audience that can also bid.
This style of auction is done completely online. It is essentially run like eBay where there is a set time that the auction ends, and auction registrants have until that closing time to bid and win the items. Unlike eBay though, we use a soft close process. This allows bidding to keep going as long as bids are still being entered. This ensures the item goes to the highest bidder, not just the last bidder- which is of huge benefit to our sellers.
This auction is formatted to be completely virtual but happening in real time. There is no in-person crowd, but the auctioneer is doing a live outcry and bid calling via webcast to an audience watching and bidding online.
In this auction approach, bidders will submit a written bid to the agent by a deadline. The written bids can be accepted as is by the seller or the seller and agent can negotiate with the bidders. As another option, selected bidders can be invited to an open bidding session.
For phone bidding, the agent will conduct bidding by calling each individual interested bidder one at a time to advance bids until an acceptable price is achieved for the seller.
A Multi-Parcel Auction is an auction where the property can be sold either as a whole, in tracts, or a combination of tracts. This type of auction benefits both the buyer and the seller. They can sell large acreages all at one time without needing just one buyer. The saying goes, “The whole is greater than the sum of its parts
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