|McGinnis Auction and Appraisal
412 East Court Ave.
Jeffersonville Indiana 47130
|John McGinnis, Principal Auctioneer, |
Principal Real Estate Broker, Certified
Personal Property Appraiser
|Kentucky: 502-458-4815 - Indiana: 812-282-7253 - Fax: 812-282-6649|
Contact us today for your on-site evaluation.
KY - (502) 458-4815
IN - (812) 282-7253
Frequently Asked Questions (FAQ)
Can I bid on my own property?
Only In the case of auction with reserve does the owner retain the right to bid, but only when it has been publicly announced prior to the bidding process. Our company policy discourages owners from bidding on their own property. Seller participation during an auction sends the wrong signal to the buying public and could jeopardize the selling results for that particular auction. When sellers participate in their auction the buyers feel as if they are competing in a false market.
Only under certain circumstances does the law allow for owner participation at an absolute auction. Divorce situations and dissolving a business partnership would be such situations when a co-owner would be allowed to bid on their property. All other situations in absolute auctions the seller would be prohibited from bidding or having others to bid.
In an estate situation the executor may bid only on his or her own behalf and not on the behalf of the estate for the benefit of the estate or other heirs.
Member of the Kentucky and National Auctioneers Associations.
At our auctions we accept: