92 | FAQ
FREQUENTLY ASKED QUESTIONS Seller HOW DOES THE AUCTION PROCESS WORK? In conjunction with your agent, we showcase your property to targeted members of our global database of more than 800,000 individuals, including our Private Client Group of high-net-worth buyers, agents, and industry experts. The process typically results in 200–400 prospects, 25+ showings, and 3–7 qualified buyers competing for your property. Before the auction opens, you can decide whether to move forward after reviewing the field of bidders and their starting bids. AREN’T AUCTIONS ONLY FOR DISTRESSED PROPERTIES? No. Our typical seller is well capitalized. They choose auction to control the timing of their sale. WHAT AUCTION FORMATS DO YOU USE? We use two auction formats. 1) No Reserve: There is no minimum bid to purchase. 2) Reserve: Will sell at or above a pre-determined price threshold. WHAT DOES IT COST? HOW DO YOU GET PAID? We do not charge any fees to sellers. Our fee comes from a premium paid by the buyer. Sellers pay agent commissions as outlined in their listing agreement. I AM READY TO AUCTION MY PROPERTY. NOW WHAT? We are solely focused on luxury properties. Call us, or have your agent call us, to discuss your property.
