Auctions Are Showing Up More and More in Our Lives

Sellers are discovering that if you own a unique, irreplaceable asset, the most efficient way to sell that asset is by auctioning it off. If we think about retail real estate in cities, there's only one east corner of fifth avenue and twentieth street. When an auction takes place, almost all of the profit from that retail establishment flows to the landlord instead. This gets even bigger when we think about the internet: every single add you see on google is an auction.