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Land Auction in CIL Last Night
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Skyhawker
Posted 11/21/2008 13:35 (#512734 - in reply to #512600)
Subject: Econ 101


EC IL
"Buy low, sell high" Have we seen the high?

How widespread is the 'buyers premium' added on to land auctions?

Recently an east central Illinois land auction had a 5% buyers premium added to the selling price, and the final bid was not accepted by the seller.

May be a lesson there? Or are more 'no sale's showing up all over?
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