I mention how tough it is to find anyone who has a bidding-war strategy, but it’s because our expectations rose dramatically in 2010 after witnessing one of the best of all-time.
They were auctioning off a vacant lot owned by the City of Del Mar.
This video starts at the beginning of the auction, and the bidder at the bottom of the screen was a proxy for Carson Palmer – who eventually got the last laugh when he built a 6,580sf house on this lot and then sold it for $18,000,000 in 2020.
The auction starts at $1,000,000 – but watch how fast it climbs, particularly from $3,000,000 to $4,000,000. Did he have to pay that much? How about the guys in suits running around, the cameraman, and the auctioneer’s chant all contributing to the excitement. It was over before anyone could think!
Carson also paid a 10% buyer’s premium on top, so his final purchase price was $4,400,000:
The Buy of a Life Time!
