Posted by Shaler on November 02, 2018 at 08:46:59 from (72.77.83.210):
In Reply to: Land auction question posted by Shaler on November 02, 2018 at 05:03:07:
Lots of decent replies but I dont think anyone has really answered my question. It goes without saying that BOTH seller and auctioneer want to get the most $$ from the sale. Just my experience: about 10-15% of the time, someone swoops in and buys the farm in its entirety (when its offered both ways in parcels and in its entirety). Lets say a farm is chopped up in to 3 parcels. Parcel A is bid to $10, PArcel B is bid to $20, PArcel C is bid to $30. Total bids on the table are $60. It takes the auctioneer about 5 minutes to say "ok, who will bid $61 for the whole farm?" and take bids. Hardly a time consuming effort for the possible payday. Seems like it may also be more desirable for the seller as they are only dealing with one buyer instead of several. There is an upcoming sale where they have parceled the farm up in to 6 parcels but ARE NOT offering it in its entirety once the parcel bids are tallied up. Its not like this place is 1,000 acres, its only 100. I just dont understand why. Guess I will ask the auctioneer and see if they will tell me.
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