It helps pay for some of the auction marketing expenses. The seller is comitted to selling. The property is sold at a fair market price. The auction situation translates to negotiating power for buyers. Buyers may have a choice of several properties at once.
Buyers can set their own purchase price.
Long negotiation periods are eliminated. The time it takes to purchase property is reduced. Because purchasing and closing dates are known, buyers do not need to worry about contingencies. Property owners sell at the lowest price possible. Financing may be available to buyers.