Do you know the three times a realtor should ALWAYS call the real estate auctioneer?

In this market I am amazed that there are still those living in the dark ages who think that real estate auctions are just fire sales and distress sales at give-a-way proces.

Did anyone here happen to hear about the Shelby GT Cobra that sold at auction last Summer?

$5 MILLION DOLLARS AT AUCTION WITH NO MINIMUM AND NO RESERVE

There was no minimum bid and no reserve meaning this one of a kind property sold to the highest bidder regardless of price.

8% Buyers premium was paid or about $400,000.00 in addition to the 8% Sellers commission and the seller prepaid thousands in entry fees, catalog, photography and special services.

I bought a 1976 Mercedes Benz 240D with 74,000 miles in excellent condition at auction for $55.00 (FIfty Five dollars) because the auctioneer did not believe the car had a pull start and could not get it started. I purchased a 1969 Dodge Charger with a 383, factory 4-speed and matching numbers from the same auctioneer a few years earlier for $325.00 (Three hundred twentyfive dollars) when they were working for the Navy.

Both cars I purchased were worth far more and we made a tidy profit from each one after having fun with them for years, selling both at auction without minimum or reserve.

So what is the difference between an good auctioneer delivering millions or a jackleg selling below value?

It's training, certification and market knowledge combined with the ability to create THE market for a specific asset on a given day.

Barrett Jackson has built the muscle car market using SpeedTV on cable & satellite to expose a wide audience to its auctions with Spanky Assiter, CAI lead auctioneer setting the pace.

People who can write a check for $5.5 million are not stupid and cannot be buffaloed by what many people think is "fast talk" or by hypnotized by the auctioneers chant they have responded to marketing for a product they want to buy and are willing to let the market set the price, even at $5 million they paid just one bid more than someone else was willing to pay.

Did you know that over 1-million properties have already been sold at auction in 2007?

There are Morepace studies from the National Auctioneers Association and the NAR has fished a number out of the air stating that one out of 5 properties will be sold at auction by 2010 but there is no standardization in the industry.

321 ACCREDITED AUCTIONEERS OF REAL ESTATE ONLY 321 A.A.R.E. AUCTIONEERS IN THE WORLD

 OVER 1 MILLION PROPERTIES SOLD AT AUCTION SO FAR THIS YEAR

Do you know the three times a realtor should ALWAYS call an auctioneer?