Auction theory

The unlikely estate agents

Banks have entered the market for selling or even renting real estate, disposing of real estate they already own. This disposal is done through websites they have created and on which they upload privately owned properties acquired through auctions, or display properties that are going to be auctioned at the initiative of the bank.

Yield on auctioned Greek T-bills rises to 3.2%

The Public Debt Management Agency announced on Wednesday it auctioned 13-week treasury bills and raised 812.5 million euros, reaching up to €1 billion with the inclusion of non-competitive bids on Thursday.

Bids totaled €1.279 billion and the coverage ration was 2.05.

The uniform yield reached 3.20%, up from 3.04% in the previous such auction on April 5.

New York’s famous Flatiron Building sold at auction

New York's iconic Flatiron Building, famous for its thin, triangular shape, has sold at auction for $190 million following a court order.

The 22-story skyscraper, built in 1902 and often said to resemble a clothes iron, fetched almost four times the opening price of $50 million following a keen bidding war.

Prime timber auction nets €4.5 million

The 17th annual auction of valuable timber in Slovenj Gradec in the north of the country saw an estimated €4.5 million worth of logs change hands. The log that fetched the highest price was sold to Italy.

The auction attracted 1,019 sellers, who put a total of 9,566 logs measuring a combined 9,720 cubic metres up for sale in what is the biggest amount yet.