One of the most innovative features of modern auction technology is simultaneous whole property and individual parcel bidding. This powerful capability, exclusive to the ACE platform that powers AuctionCast, is revolutionizing how land and agricultural properties are sold at auction.
What Is Simultaneous Bidding?
Traditional land auctions force a choice: sell the entire property as one unit, or divide it into parcels and sell them separately. Simultaneous bidding eliminates this dilemma by allowing both options to happen at the same time.
Here’s how it works: Bidders can place offers on individual parcels they’re interested in, while others bid on the entire property. The system tracks all bids in real-time and automatically determines which combination delivers the highest total value for the seller.
Benefits for Sellers
This approach maximizes property value by:
- Attracting more bidders: Some buyers want the whole farm, others just need 40 acres
- Creating price discovery: The market determines the optimal configuration
- Reducing risk: No guessing about whether to divide or keep whole
- Increasing competition: Parcel bidders push whole property bidders and vice versa
Real-World Example
Consider a 320-acre farm with multiple parcels of varying quality. A large operator might bid .5 million for the entire property. Meanwhile, three neighbors are bidding on individual parcels that border their land, and their combined bids total .7 million. The system shows both scenarios in real-time, creating urgency and competition that benefits the seller.
The Technology Behind It
This isn’t possible with traditional auction methods or basic online platforms. It requires sophisticated technology that can:
- Track multiple bid scenarios simultaneously
- Calculate combinations in real-time
- Display clear information to all participants
- Ensure fairness and transparency throughout
For brokers and auctioneers using AuctionCast, this technology is a game-changer. It allows them to offer sellers a unique advantage while demonstrating their commitment to achieving maximum value through innovation.