ATLANTA, Georgia (November 21, 2016) — When John Dixon & Associates first began seriously promoting its multi-seller auctions in 2015, some people were skeptical of the concept. But as the Atlanta-based auction company wrapped up its latest series of multi-seller events last week with sales of more than $4.4 million, it was clear that the format has gained acceptance and momentum.
“In three days of sales, we brought 150 property offerings to market. Across the board, we had dozens of people each day bidding in person, and anywhere from 20 to 50 people for each session watching and bidding on the Internet,” said John Dixon, president of the auction company.
Dixon reflected on the format’s success. “We started using this format out of necessity, because we had been focused on selling large portfolios of bank-owned properties, many of which had been acquired in the aftermath of the financial crash. But most of that real estate had been sold, and the banks had less to sell,” he said.
Meanwhile, more individuals, small investors, hedge funds and others had begun to explore selling in John Dixon & Associates auctions. “We realized that by combining offerings from various lenders, funds and other sellers, we could have more to offer our bidders while also holding down marketing costs for our sellers. By spreading the marketing costs among all the sellers, we opened up the auction process to those who hadn’t found it practical before,” said Dixon.
Dixon said the company is already lining up properties for 2017 multi-seller auctions. But first, the company has unfinished business for this year — the auction of 11 properties in Georgia’s Floyd and Polk counties on November 29, as well as an auction of approximately 40 properties in Puerto Rico on December 3. Individuals seeking information on those auctions, or those with properties to sell, may get additional information at www.johndixon.com or by calling 770-425-1141.
John Dixon & Associates, based in Atlanta with offices in Florida, North Carolina and South Carolina, is one of the nation’s largest auctioneers of real estate properties, including land, residential, commercial and industrial properties.