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Bob Chenery, Auctioneer...
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Types of Auctions - there are three different types..

The Auction Method of Marketing
Auctions have been with us since Greek and Roman times, and are used to market almost any commodity. We specialize in real estate, estates and personal property.

Traditionally, buyers and sellers have viewed auctions as a last resort..


Properly planned and executed, auctions are a prime method to market a property and obtain true market value! The fact that some auctions bring higher sales prices than traditional methods make them a a first-look option for many sellers. The auction method of marketing gathers buyers together for open competition to buy the property. It's a true example of the American Enterprise System.

>***Think Auctions*** >Quick conversion of assets to cash, seller picks the day of sale, confirms the high bid, has much more control than traditional methods of selling real estate.

Combining the expertise and marketing power of an established real estate company with the flexibility of an Auction is the best of all worlds.

The Auction Method of Marketing creates a demand for your property through several media... TV, Radio, Newspapers, Brochures, Direct Mail and the Internet. This 4 to 8 week plan brings buyers together and lets competitive bidding settle the final price. Settlement occurs within 30 days... sellers get their $$ and buyers take possession much faster than conventional methods... With lower holding costs, the process has great appeal.


Types of Auctions (back to top)

While this page focuses on Real Estate, it applies to all auctions.

Auctions are:

  • absolute
  • with reserve
  • hybrid of absolute and reserve

Absolute Auctions
At an absolute auction, the property absolutely WILL be sold. Attendance is highest at Absolute Auctions. Buyers know their bid can get them the property, so...

>Absolute Auctions bring the highest bids and
put the most money in seller's pockets

Reserve Auctions
At a Reserve Auction, Seller can accept or reject the final bid.  Buyer turnout is traditionally a bit less than at absolute auctions.  With less risk, sellers may get lower final bids.

Absolute with Minimum Bid
A hybrid, this type of auction is absolute but bidders must open at or above a pre-published figure.  This type of auction is not common in the Danville area.

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