Items Tagged with 'Auction theory'

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  • Do I Hear 20,000?

    The auction process is daunting, at least to the untrained eye.The auctioneer at a tax foreclosure auction reads off the case number of a house, its...
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  • Luxury Auction Seeks 'Absolute' Market Value

    A five-bedroom, seven-bath luxury estate 25 minutes from Manhattan is set to hit the auction block on November 17 -- with no minimum bid required. This set-up, called an "absolute" auction, is meant to set the market value determined by a competitive bidding process. It eliminates minimum bids and reserves, meaning in theory the market could set the value at as little as $1, if only one lucky bidder shows.
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  • RealtyBid.com Auctions 1,500 REO Homes

    RealtyBid.com, an online auctioneer since 2001, will auction 1,500 REO properties in the month of September. One major lender valued the wide-ranging types of homes at more than $142m. That total will be added to $450m worth of property auctioned since the start of 2009, a 26% jump from the same date in 2008, according to a corporate release. The September auction offers properties from nearly every state, and their ability to offer bargain pricing attracts opportunistic bidders, says Mike Keracher, the company’s vice president.
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  • REDC Auctions $31.7m of Foreclosures Online

    Auction.com, the domain name purchased by Real Estate Disposition (REDC), generated $31.7m in foreclosure sales in an online auction campaign. The auction offered 770 assets in 45 states and saw traffic from thousands of online bidders from August 3 through August 23. The properties auctioned ranged from million-dollar mansions to smaller single-family houses. "This was our most aggressive foray into auctions on a national level, and it was a tremendous success," said REDC/Auction.com CEO Jeff Frieden.
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  • Real Estate Auctions Hit the Airways

    Auctioneer Williams and Williams is making television interactive. The Tulsa, Okla.-based real estate auction house will auction 70 homes during a live television program on the ION Television network. The “absolute” auction means there are no price reserves on the homes and the highest bidder will be awarded the property.
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