In our current farm real estate market, it is difficult to place a value on the land. For that reason, public auctions allow the potential buyer to bid until the highest bidder is determined and the highest value for the land has been obtained. In our area, farmland auctions are a common way to sell land. Buyers like auctions, as they know the day of the auction who the buyer is and they had every opportunity to pay as much as they were prepared to spend.
