Issue link: https://viewer.e-digitaledition.com/i/1509453
6 90 days.' No contingencies, no hassle. We take care of everything from start to finish and get their property sold quickly." BUYER'S CHOICE AUCTIONS Another benefit of working with Ranch & Farm Auctions is its buyer's choice auction model. A buyer's choice auction is generally considered the fairest, most transparent and least confusing style that brings true market value on auction day. According to the National Auctioneers Association, the bidder's (buyer's) choice is the method of sale whereby the highest bidder earns the right to choose an asset (tract) or assets (tracts) from a group of similar items. After the highest bidder has made their selection, a new round of bidding begins with the highest bidder of that round choosing their asset or assets. The process continues until all tracts are sold. A recent auction used this format for 354 acres of five mostly timber tracts with some agriculture land mixed in. The sale generated over $1.4 million — which exceeded appraised market value — for Lipscomb University, which received the land from a private donor. AUCTION SEGMENT EXPANSION Tillable land accounts for most of Ranch & Farm Auctions' business, as demand remains strong from farmers looking to expand their operations as well as from investors. But its growth is also being driven through expansion of its successful auction model to other business segments. Included are homes, recreational ground, commercial operations and equipment. For example, a unique 72-acre commercial plant nursery is being offered Oct. 13 by Ranch & Farm Auctions in South Florida. Another non-traditional auction involved a 174-acre property in Greene County, Missouri. "We sold land zoned agricultural but offering future development for values ranging from $27,775 to $50,000 per acre," Gizdic says. "Lack of good inventory and future potential development led to having a room full of bidders wanting to build their own homes, developers and general buyers." With its auction expertise and powerful resources of Whitetail Properties, it's no surprise the company is experiencing impressive momentum and growth. With the unique way Ranch & Farm Auctions and Whitetail Properties provide elite service and sales models that best suit the clients and the specific properties, the future looks bright for the full service company. "There's nothing but upside, no question," says Ziegler. "In terms of potential, the sky is the limit." With its auction expertise and powerful resources of Whitetail Properties, it's no surprise the company is experiencing impressive momentum and growth.