Auctions and bidding wars bring out highest prices

Ego also plays a role. I was at a tax lien foreclosure where a group of experienced buyers
got into a bidding over a parking space in Greenwood. Final bid was just short of $130,000.

Buyer dropped his 10$ deposit. Years later spot remained unsold at asking $17,000/

Well at least with m127 auction you have to bring a certified check with real money to the table made out to the developer. The amounts are likely higher than 10% of the expected sales price (in my opinion) so the likelyhood of someone bidding and walking away is low. In addition you have to be able to close within like 10 days - so again that will limit how insane people get. I kind of think m127 will be interesting.

As for people doing research before they bid, I am not sure about that but I would think they must???

m127 penthouse is finally under contract: http://malcolmcarter.wordpress.com/2010/08/20/unsold-at-auct…se-finds-buyer/

oops. try this link instead: http://wp.me/puZRS-1u7