Major Indiana Real Estate Firm Turns to Internet Auctions

Major Indiana Real Estate Firm Turns to Internet Auctions

Bidders several states away can place live bids on land.

Internet auctions took off with a flurry in the late '90s then stalled as the old and new technology and the people loyal to either side seemed to feel each other out. Now it's here with a vengeance, and has gone far beyond toy tractors, antiques and memorabilia. Now you can buy farm equipment, industrial equipment, and even land through sales on the Internet.

Halderman Real Estate Services, Wabash, one of Indiana's largest farm management and farm real estate firms, just announced that it will conduct its auctions live and on the Internet at the same time. Prospective buyers can watch the auction online, and place bids, even if they're hundreds or thousands of miles away.

Halderman will use what's known as the Online Ringman platform, offered by Xcira, Tampa, Fl. Learn more about this company at: www.xcira.com. The goal, Halderman spokespersons say, is to put as much money as possible into seller's pockets. Basically, they're opening the auction of someone's land to anyone anywhere in the world.

As is the case with most intent auction bidding platforms, you don't need special software to participate on the internet in a Halderman land auction. You can participate using any one of several popular browsers, including the Apple Mac system.

This is just another indication of the shift toward Internet buying. Aumann Auctions, Noklomis, Ill., offer many 'online-only' auctions where all bidding is online. They even held an online-only real estate auction this winter. They also do live auctions where people can either attend or bid live over the Internet. With improved speed for Internet, the auctioneer can maintain his normal pace and still get bids in time from the Internet to make the process fair and competitive.

The number of livestock offered in online-only sales from major breeders was up last year, and seems to be even more prevalent this spring. Many still choose to have a live auction later, but are offering animals ahead of their normal sale through an Internet only auction.

A recent sheep auction was a prime example. The farm was open for people who wanted to see the sheep in person, but when the bidding started, even those on site had to find a computer to place their bids. There was no live auction happening anywhere—it was all online. In that particular sale, sheep went to buyers in nearly a dozen states. The problem then becomes working out logistics on how to get animals form point A to point B safely and economically.

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