Advantages of Auction Marketing 

Types of Auctions 

• Provides excitement and encourages competition amongst bidders.   
• Provides fair, open non-discriminatory environment
• Reduces high carrying costs and marketing time.
• Creates urgency with bidders which ultimately results in maximum proceeds to the seller.
• Gives bidders and seller immediate confirmation of sale.
• With multiple owner auctions, benefits each with lower marketing costs. 

1. RESERVE AUCTION: an auction subject to confirmation.  The Seller reserves the right to accept or reject the highest bid up to 72 hours post auction.
2. MINIMUM BID:  a minimum bid is published in advertisements to buyers.  It can discourage buyers if minimum price is too high.  Reduces risk to Sellers because sales price must be at or above minimum bid.
3. ABSOLUTE AUCTION:  best case scenario as the property is sold to the highest bidder that day.  A guarantee sale creates much more buyer participation and excitement.  It generates maximum response in the market place.  Sellers will be using this method to quickly disperse properties to lessen their exposure.