This is a “no price” marketing method which shows that you are a serious seller. The sale price struck often exceeds the reserve you have set. An auction is the best way to obtain an offer to buy when you require a specific date of sale. You also sell on your terms and conditions. An auction creates urgency. Potential purchasers have to act quickly if they wish to acquire your property. You also get three bites at the cherry. You can advertise “unless sold prior to” providing the opportunity to sell before the auction date, or you sell on the day or, if the property does not meet the reserve your agent can negotiate with the highest bidder post auction.