Absolute Auction Hits Home Run

Mayo Auction and Realty, LLC reports a home run auction held on June 3rd. According to owner Robert Mayo, "it was amazing! We had 4 weeks to market the auction of a 1 acre 2 bedroom, 2.5 bath suburban home in Prairie Village KS. Our marketing plan included a mix of print, direct mail and internet advertising. The owner and I had agreed to use the strategy of an absolute auction to get the most attention and targeted a sales price of $350,000 as an outstanding result. On auction day, we had over 200 people in attendance with 33 registered bidders. The final sales price was $371,000! The sellers were thrilled." An "absolute" auction is where the seller has no reserve or minimum price and has agreed to take the final highest bid. Rob can be reached at www.auctionbymayo.com.

AuctionFirst and Mayo Auction and Realty LLC are both real estate auction firms and members of the National Association of Auctioneers.