Real Estate Auction Options Principal Gary Gilbert discusses luxury real estate auctions for both sellers and purchasers.

Real Estate Auction Prices Versus Statistics

By Gary Gilbert on
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Oct 19 in Luxury Home Auction

Statistics are more important in traditional real estate sales than in luxury real estate auction sales.

With the traditional method of real estate sale, statistics like comps and appraisals are relied upon much more so than with a real estate auction.  For luxury real estate properties, it is often very difficult to look at comps as there usually are none.  Appraisals do not carry much weight either in the luxury real estate auction world.  Our opinion is that when a real estate auction marketing campaign produces cash buyers in a competitive bidding situation, the high bidder will determine the true market value for the asset being sold.

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