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As market softens, auctions become another sale option: While a stigma still exists, auction proponents say it's a sale method that's gaining ground.(Brief Article)

Boston Business Journal

| November 16, 2001 | Pratt, Mary K. | COPYRIGHT 1990 American City Business Journals, Inc. (Hide copyright information)Copyright

If you're in the market for a distinctive home, markdown Nov. 30 and Dec. 1. Those could be your lucky days.

Jerome J. Manning & Co. Inc. will auction a country retreat in Action a country retreat in Action and three new homes in Wellesley as part of the DeWolfe Premier Property Auction program.

Although far from common, auctions are gaining ground in the real estate market. However, while some promote auctions as a viable way to sell real estate, others question whether auctions can really deliver.

"It's a neat idea, and it's a way to get rid of distressed property in a quick fashion when some sort of institution doesn't care about that last $20,000 or $30,000, buyer beware and seller beware," said Tom Marquis, owner of Boston-based Marquis Real Estate/GMAC, an auctioneer an past …

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