Public Auction
Proceeding by way of a Public Auction using a National or Multi-National Company incurs higher selling costs than Private Sale, but often the benefit is in exposure and, more importantly, access to the auction format. From the Seller’s point of view, often a reserved bid is not allowed, meaning on auction day the seller is ‘all in’ where everything at the end of the day sells, regardless of price.
One drawback of the public type of auction is there tends to be less confidentiality as often everyone’s laundry is open for viewing on sale day, in either the farm yard or auction ring. Bidders colluding against the seller becomes easier.
Find out more here!
