When Can an Auction Benefit Me?
Auctions can be a valuable tool for the asset owner or disposition manager in many situations.
Two very good examples are:
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WHEN THE SELLER MUST SELL QUICKLY
An auction provides an arm’s length setting for all interested bidders to compete, with an intensive marketing campaign. Holding costs are minimized, and capital is freed for other uses.
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WHEN A PROPERTY HAS HIGH DEMAND
The Onassis auctions and the Atlanta Olympic auctions gave bidders the opportunity to pay what they thought the assets were worth – between 300% and 1000% of what the sellers would have asked!
Auctions Work Well For:
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