By Jennie L. Phipps, FrontDoor.com | Published: 7/10/2008
The tried and true method is "on the lawn." Bidders stand outside of the house while the auctioneer makes the sale. Some auctioneers believe they get better prices if they group houses together and sell them off site. These "ballroom" sales can attract hundreds of potential bidders who get the fever and bid until they win a property. Some auctioneers also accept sealed bids in advance, telephone, Blackberry and Internet bids, which Longly at the auctioneers association says works well for highly desirable homes in attractive settings.
The best way to understand auctions is to go to a few. As you get your feet wet, you'll realize, Longly says, that "everything in this business is negotiable."
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