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How do I run a silent auction?

What is a "Silent Auction" and How does it work?

  • And also, if the auction includes both Personal and Real Property, will it remain just as much a legal and binding sale as if selling items one at a time? We are also assuming that the buyers were afforded the opportunity to inspect all properties/documents and items before the sale. And lastly, if for some weird reason, escrow could not close on the real property, does the personal property still transfer?

  • Answer:

    I've always enjoyed them. http://www.wikihow.com/Run-a-Silent-Auction

aguila_m... at Yahoo! Answers Visit the source

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In a normal auction people bid against one another and can increase their bid once their previous bid is beaten. I believe in a silent auction you just submit whatever you are willing to pay. There are pro's and con's for both forms. Yes they are legal and binding the same as any private sale would be. Bidders always have the opportunity to inspect the property. Although most auctioneers also verify all the facts before the auction as their reputation is on the line.

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