www.perryhenderson.com is a local Realtor with Prudential Texas Realty showing you the winner of the www.ibidcondo.com Auction at Star Riverside

I noticed that the new Charity Auction website http://www.ibidcondo.com is getting a lot of good press. Basically, they are a online auction with no minimum sales price and no reserve. Their whole process is based on the fact that they sell “seats” to cover the expense of the property. Every agrees to buy the seats and wait til the last seat is sold before the auction begins. In return, the buyer gets the chance to be the highest bidder and buy a home at a ridiculously low price.

The first example of an auction was the Star Riverside sale. A unit whos list price was $690,000 sold for just under $87,000.

Winner Video



Final seconds of the Auction



Location View



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