Auctioneers and the number of combinations

Mike Brandly, Auctioneer Blog

cornfieldDr. Mary Dewalt is retiring from her medical practice. She is 83 years old and is moving permanently to her condominium in Florida.

Mary’s family has owned 2,540 acres of farmland in southern Indiana for 135 years. The land includes four homes, nine large barns, and two 300,000 bushel grain handling systems.

Mary has contacted a local auctioneer to sell her farm at auction. The auctioneer has suggested that the land be sold by “open combination bidding” or as some call it, a “multipar,” “multi-parcel” or “multiple parcel” auction.

We wrote about a particular aspect of a multiple parcel auction (selling absolute) and a bit more on the history of these types of auctions here: https://mikebrandlyauctioneer.wordpress.com/2012/10/16/an-absolute-multiple-parcel-auction/

Today, we explore another aspect of the multiple parcel auction: The number of combinations the various parcels can be grouped. For instance, let’s say Mary and her auctioneer decide it’s best to divide the…

View original post 315 more words

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