Apr 04, 2022
At MarkNet Alliance we get excited to hear our member auctioneers' success stories. In March, our member Justin Vondenhuevel from Vondenhuevel Auctioneers located in Ohio had great success while selling 120 acres in three tracts that included a "swing tract." At this point, some of you may be wondering what a 'Swing Tract ' is exactly. In Justin’s words it is “a landlocked tract, with no road access, only to be transferred to a current adjacent owner or new buyer who purchases a tract adjacent to the swing tract.” Vondenhuevel used the Ultimate Choice system because it allows buyers to have the opportunity to select certain tracts or combination of tracts that they want to buy, instead of buying the entire parcel, or in this case, all 120 acres.
Ultimate Choice gives MarkNet Alliance auctioneers the ability to divide real estate property into tracts and use our proprietary bidding system to sell property at auction; live, online or both with the flexibility for bidders to bid on single tracts, combinations or an entire farm. Our Ultimate Choice proprietary software allows us to offer bidding in-person or interactively with maps online.
Vondenhuevel predicted how this auction was going to start, “When this (auction) starts, instead of having low starting bids, we're going to have pretty high numbers right off the bat.” Justin said this to MarkNet about a week before the online auction. Justin predicted this simply because the auction consists of multiple tracts, while being online and using Ultimate Choice.
We were keeping a close eye on this auction at MarkNet Alliance, mostly because as soon as the auto-extend got below a minute, someone else would place a bid. This went on for what felt like hours after the auction was supposed to end. Now, this might not sound as exciting as Live Auctions to you, but trust us when we say you get just as invested, if not more, sitting at your computer as you do raising a paddle. Justin says that he has received “positive feedback to the online auctions” with his bidders. When all was said and done, tracts 1 & 3 sold for a whopping $1,408,000 and tract 2 sold for $520,000.
If you have a success story, or know anyone that has a similar story, please email us at [email protected]. If you have any questions, feel free to reach out at (888)307-6545.
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