Public Auction

Last Updated: Jun 7, 2019

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A Public Auction is a method of liquidating collateral to the public as opposed to selling collateral to a private party. Often times the appraisal firm will run the liquidation and may choose to use a public auction to liquidate certain assets. A Public Auction may sometimes be preferred or required to prove to other creditors or a court that the property sold was done without “preference” to any one buyer.