Berry Farms Equipment Auction

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  • 30 June, 2018
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Bid Online Before or During the Auction! Register & BID Here:  http://jbrauctionsonline.com/ BERRY FARMS EQUIPMENT AUCTION 10 AM, Saturday, June 30th 438714 E 290 Road, Vinita, OK LOCATION:  2 Miles … Continue Reading →


Berry Farms Land Auction

BERRY FARMS LAND AUCTION 7:00 PM, Friday Evening, June 29th Craig County Fairgrounds Community Building 915 Apperson Road – Vinita, OK · One Mile South of Walmart · 388± Acres!  … Continue Reading →


The larry Frederick Estate Equipment Auction

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  • 23 August, 2014
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The Larry Frederick Estate Equipment Auction 10:00 AM, Saturday, August 23rd East of South Coffeyville, OK DIRECTIONS:  2 Miles South of South Coffeyville on 169 Highway to E 03 Road, … Continue Reading →


The larry Frederick Estate Ranch land Auction

  • By admin_acnwp
  • 22 August, 2014
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The Multi-Parcel Auction Method

The Multi-Parcel (multi-par) auction method allows the buyer to maintain control of any tracts or parcel throughout the auction, regardless of the combination of the parcels. With the Multi-par Auction Method you select the lots you wish to purchase and bid on them.  The Multi-Par Auction Method is tracked with a computer software system and automated process for real time tracking.

In Round 1 the parcels are auctioned one at a time until each parcel has a high bidder. At this point the bidding has not closed. In Round 2, bidders may combine two or more parcels or re-bid a single parcel with an increase in the bid determined by the auctioneer. Requests for combinations or re-bids are continued until there are no further requests and the auctioneer declares the bidding closed. An overhead projector is used to display the high bids and the bidder’s number to keep you informed of the current high bids. When all bids are in and recorded, no one desires to advance the bid on any tract, combination of tracts or the entire property the auction will be announced closed.

 

Advantage of the Multi – Par Method

• No one is knocked out of bidding at any time.

• You may combine any or all parcels in any grouping throughout the entire auction as well as post new bids on any single parcel or combination.

• At any time you can look at the lots projected on the screen and see the high bid and whether you have control of that parcel.

• Since everyone who is participating in the auction event can choose which property they want to buy and the price is set by the bidder, everyone has the same opportunity to buy regardless of the other bidder’s possible wealth or bidding strength.

 

Helpful Bidding Tips

• Bid on only the parcels or items that you want to own. If you only want a single parcel then bid when it is available. If you want multiple parcels or none at all, then bid when combination of tracts are permitted. Remember any bid posted is considered active and could be back in winning position any time during the auction.

• Don’t wait to bid at the end… prices don’t go down. Waiting only invites more people to jump in at the last moment. Remember, its better to defend your position then to take it from someone else.

• Prior to the auction determine your buying strategy. Determine what you want to buy and how much you can spend. Use the auction company personnel who are working on the floor to help you with the math during the auction event.

Auction personnel will be available to help you during the entire auction bidding process.

 

Multi-Parcel Auction Example

A Multi-Par Auction is the sale of Real Estate offered in two or more tracts of land. For purposes of explanation:

100 Acres Offered in Five Tracts

Tract #1 =   5 Acres

Tract #2 = 10 Acres

Tract #3 = 10 Acres

Tract #4 = 25 Acres

Tract #5 = 50 Acres

 

The bidding will usually open offering the tracts individually first:

 

Bid Board (Individual Tracts)

                              Tract Number      Bidder Number    Bid Amount

                                        1                          100                    $ 5,000

                                        2                          200                  $ 10,000

                                        3                          300                  $ 10,000

                                        4                          400                  $ 25,000

                                        5                          500                  $ 50,000

Following the offering of individual tracts, the auctioneer will begin taking bids for any combinations.  Example: $26,000 will tie Tracts 1, 2 & 3 together and pull them away from the individual bidders for their respective tracts, because the bid is higher than the individual bids totaling $25,000.  See bid board below.

 

Bid Board (Combinations)

                              Combinations              Bidder           Bid Amount

                                     1-2-3                       600                   $26,000

Bidders 100, 200, & 300 are “out”, because of a successful combination by Bidder 600. But this leaves Bidders 400 & 500 still in a winning position on their respective tracts.  What is of importance is the bid for Combination 1-2-3 at $26,000 plus the individual bids of $25,000 and $50,000 for Tracts 4 & 5 total out to be $101,000… beating out the total of $100,000 for all of the Individual bids.

But keep in mind, Bidders 100, 200 & 300 are not necessarily finished bidding.  There is only a $2,000 difference from a change on the bid board and those who would want to be in a winning position.  This process will repeat until all bids are exhausted and the auctioneer declares the auction closed.

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