Auctions Popularity Increasing

Auctions gain ground in big sales
Clued up buyers and sellers see benefits in process, agents say.
By Colin Taylor

John Bowring says Colliers is selling more properties over $4 million by auction, including 207 Lincoln Rd, left, which went for $5.98 million.
Colliers International reports that its agents sold 51 per cent more properties via the auction process in 2012 than they did in 2011 with a growing number of properties over $4 million being sold by auction.

“The successful sale of higher value commercial properties at auction is the result of efforts by both vendors and purchasers to become better educated in the process,” said John Bowring, Australasian auction manager for Colliers.

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