The 10 questions that I have been asked most often and my 10 best answers.
A few auction concepts:
Auction = The Social Construction of Value
Price Discovery: Value is determined by a group via consensus rather than arbitrarily by an individual.
What sells best at auction is property that has both market demand and seller tolerance to current market value.
What do a:
Yearling colt sired by a triple crown winner; a rare 17th century map; an abandoned 1978 Cadillac; a freshly caught 100 lb yellow tail tuna; a Florida condominium; a prize Jersey cow;
a billion dollars of Govt. Bonds; the paperback rights to the latest best selling novel;
100 shares of Google; a sketch on a bar napkin signed by Picasso; two hundred slightly damaged digital watches; a pair of Imelda Marcos’s shoes and
the Pontiac Michigan Silverdome all have in common?
They all sold at auction.
What does auction tells us? That values are always changing.
Click on Answer and it will open in a new window
#1: I'm afraid to go to an auction because I might accidentally buy something.
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#2. Do you do that fast talking thing?
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#3: Why/ how did you become an auctioneer?
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#4. If I sell at auction, aren’t I just giving it away?
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#5. Why would I sell my Real Estate at auction?
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#6: Will I get a good price?
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#7. What advantage does auction have over listing?
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#8. How often do properties sell below appraised value?
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#9. Is auction a good method to sell investment or commercial real estate,
and what if I have more than one property to sell?
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#10: What other services do you offer?
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