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Contact CLHbidWhy does CLHbid.com require En Bloc bidders to bid on individual parcels?
Last updated on June 10, 2024
There are existing auction platforms out there such as the ‘Iowa Auction’ that stop bidding after all individual parcels have received high bids. Then for round #2 of the auction they allow past as well as new bidders to ‘up the ante’ by bidding on the entire farm or ranch with a reserve bid set at the aggregate price just bid on all individual parcels in round #1.
After seeking input from many farmers and ranchers, most told us they didn’t feel a platform such as this was fair to bidders on individual parcels who in many cases have went to a lot of work to get pre-approved for financing etc. Farmers and ranchers also indicated they didn’t think it is fair for a large player to ‘lay in the weeds’ and not bid until after the initial round of bidding. They also told us that it would not be fair to allow a larger player to acquire the entire farm or ranch for only a few dollars more than the aggregate of the prior individual bids. Hence the rationale for the ‘premium bid’ amount for the ‘en bloc’ parcel at the conclusion of the auction.
At CLHbid.com, you as bidder only need to be high on a certain number (generally less than 50%) of parcels in order to have a chance to acquire the entire farm or ranch, whereas at national Auction firms you generally have to be high on 100% of the parcels in order acquire the entire ranch or farm.
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Contact CLHbidQuestions Similar To "Why does CLHbid.com require En Bloc bidders to bid on individual parcels?"
How does the bidding process work?
The online tender platform will commence at a predetermined time, which will be posted in advance on the online page for that specific auction.
What is En Bloc and how does it work?
The ‘en bloc’ aspect of CLHbid.com offers bidders an alternative option to acquire an entire farm or ranch or predetermined designated section of the farm or ranch.
How does CLHbid.com ensure bids are not shopped?
Immediately upon expiration of the timed sale, the high bidder will receive an email indicating they were the highest bidder.
Does CLHbid.com release the name of the highest bidder following a sale?
CLHbid.com doesn’t release the name of the high bidder to the public.