Underquoting: 20% is the new 10%
April 30, 2024
Underquoting the expected sales price of properties going to auction has worsened since Dummy Bidding was outlawed. Soon after the crack down on Dummy Bidding in 2004, underquoting exploded as an alternate solution to create ‘competitive auctions’. Fewer properties went to auction at the time, but those that did, were promoted by about 10% below […]