In the October 2009 issue of Realtor Mariwyn Evans article Let the Bidding Begin really hits home. In 2008 an estimated $15.5 billion in commercial real estate was auctioned and the figure is on the rise, according to Chris Longly, deputy executive director of the National Auctioneers Association in Overland Park, Kan. Evans says “As foreclosures swell and the credit crunch continues, auctions are returning to the forefront of commercial real estate. Even notable buildings such as Boston’s John Hancock tower have gone the auction route, giving heighted visibility to a selling method that’s been more commonly associated with residential real estate in recent years”.
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