On 2010-09-14, Brian Lawson wrote:


BIG BIG SNIP


It is a no reserve auction. Would they not always compete with me in
any situation?


Hey Iggy,

If this is the same building you were asking about in early posts, it
is not a "No Reserve". It has a starting minimum bid of $200,000.

Think about ebay. Starting bid may be $1 but the reserve is $1000.

And here, there is no reserve, or, the reserve is the starting bid.

Of course, they also "reserve the right to reject any bid" and
"subject to lender approval", so the "no reserve" is more of a figure
of speech than a real binding statement.

i

Good luck with it by the way. From WWW.Vpike.com it looks like a
pretty good building in not a bad area.


Brian Lawson