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NEW YORK CITY-Auctions have come back into vogue as a popularformat for selling off distressed assets, as they were two decadesago. However, in the view of Keith Yang, there’s a misconceptionthat auctions—whether online or oral outcry—are “a measure of lastresort.” He predicts that they’ll soon come to be seen as a firstresort, due to their efficiency.
Founder and president of AuctionPoint, Yang was one of a panelof experts convened for Thursday’s GlobeSt.com Webinar, "Reapingthe Benefits of Auctions." CEO John Cuticelli of Racebrook CapitalAdvisors/Sheldon Good summed up those benefits in his openingremarks: “Auctions are a beneficial tool when you’re in a marketwhere values are not immediately apparent.”
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