I want to auction my unit by dutch auction in Queensland where the auctioneer starts with a high price and reduces the price until sold.
If the property dosn't sell above the reserve the bidding continues downward until a bid is made and the final bidder gets the option to negotiate up.
Are there any auctioneers in Qld that do dutch auctions?
Are they being used in other states to sell property?
Clearly the realestate industry would hate such a transparent auction system
because it limits vendeor crunching and gets the highest possible price for the vendor. As Jenman says,traditional auctions only get one dollar above the second best price and leave the vendor wide open to vendor crunching
Has anyone had any dealings with reverse auctions .
If the property dosn't sell above the reserve the bidding continues downward until a bid is made and the final bidder gets the option to negotiate up.
Are there any auctioneers in Qld that do dutch auctions?
Are they being used in other states to sell property?
Clearly the realestate industry would hate such a transparent auction system
because it limits vendeor crunching and gets the highest possible price for the vendor. As Jenman says,traditional auctions only get one dollar above the second best price and leave the vendor wide open to vendor crunching
Has anyone had any dealings with reverse auctions .