Sealed Bid – Live Outcry Auctions

When auctioning large assets in the Louisville area, sealed bid – live outcry auctions may be used.

  • The top three to five sealed bid auction bidders are invited to a second round of bidding.  Round two is an open, live outcry auction, in which all can compete, to determine the winner.
  • This has been successfully used in auctions, for many large assets and for public authorities, where the sellers wished to know more about the intended uses the purchasers had for the property.
  • This auction is often elected when some contingencies exist concerning re-zoning, which might or might not be achievable, in politically sensitive circumstances.
  • This is a hybrid combination preferable to sealed bid alone because the live outcry gets you, the seller, more money.

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