Types of Auction Sales
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 scenario because a sale is guaranteed.
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.
A farm auction is an effective method of liquefying a range of agricultural assets such as real estate, tractors, timber, tools, livestock, and much more. It is an accelerated marketing process that involves the public sale of farm related property through competitive bidding. Some situations that might prompt one to consider holding or attending a farm auction would be to:
- Liquidate the farm and its assets including farm machinery, equipment, and implements.
- Liquidate unneeded farming machinery.
- Acquire equipment for personal ventures.
Herron Auctions has a legacy of offering the highest-quality farm auctions with the goal of benefiting all involved. Herron Auctions has achieved this by building a team of professionals whose experience brings together decades of real estate and auctioneering expertise. We will stand beside you and your project from start to finish.