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Absolute Or Reserve?

Absolute Auction

An Absolute auction means that you are going to sell your property on the day of the auction. This means there is no “Reserve Price”. This in our experience, is the best way to sell your property. Buyers who attend an “Absolute Auction” know for sure the property will sell on the day of auction and they will do the homework to insure their financing is in place and this is the property they want to buy. Many price studies show that “Absolute Auction” prices are generally 15 to 20 percent higher than “Reserve Auction” prices. Advertising costs vary depending upon the type of auction, value of your property and of course location of your property.

Reserve Auction

A “Reserve Auction” is an auction that has a reserve price set prior to auction day. This reserve price is a confidential price that will not be advertised or discussed with the public. This confidentiality is an absolute must. In most cases,  the auction team needs to know your reserve price. We do need to know the target price to help us determine if you are pricing the property at a competitive price. In our current economic conditions, if you are not competitive with comparable properties, you are very likely not going to get an acceptable bid on auction day. Advertising costs vary depending upon the type of auction, value of your property and of course location of your property. 

Blind/Sealed Bid Auction

A blind auction (more commonly known as a sealed-bid auction) is an auction format where all bidders submit their bids simultaneously without knowing what anyone else is bidding.

Here is how it typically works and why it is used:

How It Works

1. Secret Submission: Every participant submits a single, hidden bid (often in a sealed envelope or through a secure online portal) by a specific deadline.

2. No Real-Time Competition: Unlike a traditional open auction, bidders cannot see competing offers, meaning they cannot react or raise their bids based on what others are doing.

3. Winning & Paying: Once the deadline passes, the bids are opened.

Cooperating Brokers 

Cooperating brokers or agent participation is welcome on most of our live auctions. 

NOTE: All cooperating brokers must register with the Principal Auctioneer or Principal Broker no later than 48 hours before commencement of said auction. FORMS MAY BE FOUND ON THIS SITE.