2011- The Year to Sell (and Buy!)

Auction Management Corporation had a busy year in 2010- we started off the year with the continuation of our apartment auctions, where we sold apartments in Michigan, Indiana, Rhode Island, Alabama, Tennessee, Georgia, Arkansas, North Carolina and Texas. As this series wound down, we embarked on selling closed bank branches in Florida, Washington, New Jersey, New York, Missouri, Michigan, and Illinois. We sold everything from a car dealership in Texas to a highrise condo tower in Atlanta to a golf course in South Carolina, a church in Georgia, and houses, lots and land throughout the Southeast. We anticipate 2011 to mark an upswing in auction activity, as banks and other sellers are finally able to write down their assets to current market levels, and some of the huge “shadow inventory” of such assets as lots, land, and commercial investment property begins to make its way to the market. We feel that it is essential to the recovery of our economy that the process of absorption of these assets begins to enable investors to make money again, thus restoring confidence in the real estate market. It is only through investments, from both domestic and foreign investors, that the economic cycle can be restarted. We are ready for a busy and productive 2011!