Element Auction - Marina Del Rey CA 90292 December 13th 2009Posted by Ben Nicolas on
If you've found this blog post you are most likely already interested in the Element Lofts developed by the now bankrupt John Laing homes.
I spent all day saturday 11/28/09 with clients looking at all the different floorplans and learning about how the auction (run by IntelliMarket) is going to be run.
- Intellimarket runs auctions unlike any other Real Estate Auction company. They run a simultaneous auction which means all properties are auctioned at the same time. The entire auction is put on a 4 minute timer, every time a new bid is received the auction clock re starts, the auction isn't over until the 4 minute clock expires with no one bidding. Auction Manager Collen Lakshin said Intellimarket anticipates the auction to last ~ 1.5-2 hours…
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