Auction Approaches


 
Auction Types 
  • Open Outcry 
    Traditional ballroom setting 
    Webcast - Traditional ballroom setting with real-time online bidding available
  • Sealed Bid
  • Sealed Bid Convertible to an Open Outcry Auction
  • Online Auction 
    Timed auction 
    Webcast with auctioneer and real-time bidding
 
Auction Forums
  • Single Property Auction 
    One seller, one property 
  • Multiple Property/ Portfolio Auction 
    Single seller Multiple sellers
Auction Methods
  • Absolute - Requires the seller to sell the property to the highest bidder regardless of the price.
  • Minimum Bid  - Requires the seller to sell the property to the highest bidder at or above the published minimum bid.
  • Reserve - Allows the seller to reject the bid if it is below the unpublished reserve.
​​​​​​​​​​​