Commercial Auctions

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Commercial auctions involve the sale of commercial property. These auctions are typically very broad in scope and open to the public, with large amounts of bidding taking place. In commercial auctions buyers set the price they are willing to pay for the property.

Since this method always results in a sale these types of auctions tend to generate a lot of excitement and large crowds of eager bidders. This environment helps to push offers up to and over the market value of your property. Please feel free to contact us for more information on this type of auction.

There are two types of auction sales you may choose from:

Absolute Auction:

In this auction the property is sold to the highest bidder, regardless of what the final bidding price ends up being. The bidder’s excitement and participation are at their very highest in this scenerio because a sale is guaranteed.

Reserve Auction:

In this situation the highest ending bid is effectively treated as an offer, not a final sale. The seller then reserves the right to accept or reject the highest bid. This method puts more control into the hands of the seller but typically generates less of a bidding response.

Standard for these auction processes is the presence of an auctioneer who will moderate the negotiation of price between the buyers and the sellers. The auctioneer will determine when all bids are complete, at which point the agreement becomes a contract and the sale is final.