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What can be sold by by auction? |
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Almost any asset can be sold. |
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When does auction work best? |
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When the item being sold is unique, warrants demand, and the seller wants to achieve true market value |
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For whom does the auctioneer work? |
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The auctioneer is always the agent of the seller. We are bound by fiduciary laws to maximize the seller's values. |
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So, why would I want to buy at an auction then? |
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Because a reputable auctioneer will provide a fair and equitable sales process that encourages buyers to return to his (her) auction. (And, besides, it's the law) |
