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Schrader has been awarded the 2004, 2002 and 1998 National Auction Of The Year by the National Auctioneers Association.
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On August 25, 2006 an auction of more than a mile of Lake Michigan frontage covering 36 bluff tracts near Ludington, MI, attracted 950 people who wound up spending $12,775,000 for the land.
The 36 lots ranged in size from 1.8 to 7.7 acres, with frontage ranging from 103 to 268 feet. The lots offered spectacular sunsets and views of Lake Michigan and access to beaches. The property was located on bluffs over-looking Lake Michigan adjacent to the Ludington Pumped Storage plant in Pere Marquette and Summit townships south of Ludington. The pumped storage plant was built jointly by Consumers Energy and Detroit Edison and the land sold at auction was surplus property.
Utilizing the Schrader M3 auction system, we allowed bidders to compete continuously throughout the auction, to achieve the highest price possible for this valuable real estate. We offered the property as individual lots and in any combination of lots. Several times during the bidding, one bidder tried to purchase 26 of the 36 lots in combination.
The final combination of bids from the 31 bidders resulted in the highest total sales price of $12,775,000.
This auction is another example of the power of a comprehensive marketing plan and intense auction day competition. Our marketing program generated over 1900 brochure requests from 40 states and Canada, plus our website had 33,651 property specific hits.
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