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Myths and Facts

Myth: Property is sold at auction regardless of price

Fact: Sellers may establish a minimum bid, or reserve price for their property. However, many sellers prefer to sell their property without reserve.

Myth: Property listed with a Realtor cannot be sold at auction.

Fact: Blackstone will work with your Realtor, so even if your property is currently listed, you are still able to take advantage of the auction process to sell your home.

Myth: Auctions are for distressed sales.

Fact: Auctions are frequently the preferred method of selling non-distressed luxury items such as priceless works of art, jewelry, collector automobiles, yachts, and luxury homes.

Myth: Homes sold at auction will sell below market value. 

Fact: Since auctions create a competitive buying environment, a home’s final selling price is actually the highest market driven price.