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The Multi-Par Bidding Information

The multi-par bidding system is designed to offer subdivided parcels of real estate in a manner that is attractive to the largest number of prospective purchasers. Most methods of offering subdivided property either give an advantage to the buyer who is interested in buying the entire property or to individual tract buyers.

It has been established by extensive studies by the National Association of Auctioneers and many others that the multi-par bidding system provides a more even playing field for all buyers, regardless of the number of tracts they wish to purchase.

The Multi-Parcel (multi-par) auction method allows the buyer to maintain control of any tracts or parcels throughout the auction, regardless of the combination of the tracts.

The multi-par system offers parcels in a series of rounds with the auction not being over until prospective purchasers no longer want to increase their bids.

Sound confusing! Don’t worry! Bid boards are used to display the final bids and the bidders number to keep you informed. Our staff will also be there to assist in the process.

After a per acre price has been established by individual tracts, for the entire acreage, any bidder may add to the total amount bid on any tracts in the preset amount of 3% to assure you can advance the bid and take control of the tract or tracts you would like to purchase.

If no advance of bid is made within a 5 minute time frame, then the lots will be announced closed.

In Round 1 the parcels are auctioned individually, which establishes the traditional auction sales price. (This round is the same as any other auction you have attended.)

Round 2 allows bidders to combine two or more parcels of real estate. On combined parcels you are bidding on the individual parcels but in the combination you want.

A minimum bid of 3% per tract or parcel is required in succeeding rounds. This is to assure you the most equitable and fair way to take control of the tract or tracts you desire to own.

It is important to note that individual tract buyers with the final bid in Round 1 have the opportunity to increase their bid over other bidders in succeeding rounds, again with a minimum 3% increase.

In round 2, if two or more bidders desire the same tracts or combinations we will open up the bidding live and post the successful bidder on the screen.

Advantage of the Multi-Par Method

  • You may combine any or all tracts in any grouping throughout the entire auction as well post new bids on any single tract bid or combination bids already posted.
  • At any time you can look at the lots displayed on the projector screen and see the high bid and whether you have control of that tract.
  • 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 bidders possible wealth or bidding strength.