The San Francisco call., 1910-02-26
AUCTION SALES OF
REALTY A SUCCESS
Create Good Basis for Values
and Prove Great Stimulant
to the Market
By WENDELL EASTON {

During the last year developments
in the real estate market have led me
to think that the time was ripe to take
up the old time auction sales which
were such an important factor in realty
circles for many years.
Since our changed conditions, which
arose in 1906, values have been chaotic
and with the radical changes in busi-
ness centers to temporary locations
and then the return to down town as
the one important center and chang
ing other central points also, no fair
estimates of values could be placed on
property, the consequences being that
owners and those who were particu-
larly desirous of sale inflated their
values, or at least asked all the traffic
would bear. and intending purchasers
were inclined to discount the future
and in many cases disposed to make
such low estimates of values that it
has not been easy to bring about
transactions.
Until the last year it was not wise
to take up the auction sales with any
expectations of success and only after
the most careful consideration and
viewing the business from all it's
standpoints did / decide that the best
success could be had in making these
sales in connection with a leading
house in the real estate business and
one that was entirely abreast of the
w 90.
had already grasped ideas of this same
nature, influenced by the judgment and
long experience of Edward +. Hooper,
the manager of the real estate depart
ment. Hooper having been associated
with me a number of years ago was
familiar with the plan of conducting
these sales. and as aresult of our con-
ferences we inaugurated series of
sales this last fall which have resulted
very satisfactorily.
We have found that While we have
conducted these sales somewhat on the
old time lines, we must modify them
to meet the present conditions, as we
find the people generally both sellers
and purchasers, are as wise az we are,
and we can only make success of
this business by realizing that we
must use logical arguments with own
ers. educating them TO proper values
of their properties and the same logical
reasoning we are also obliged to use
with intending purchasers to educate
them to the proper value of our offer
ings.
We have been using the greatest
care in selecting the property we have
been Offering. First, that it shall be
in the localities which are being sought
for; second, that the owners are acting
in good faith and are desirous of SELL
ing their property. This means using
care in working out these catalogues
properly, and as a result we have been
getting the best of satisfaction for our
work We have attracted the atten-
ton of purchasers and have worked
out a great many sales and the result
today is that these sa les are an i'm
portant factor in the real estate mar
ket-a benefit to purchasers and espe-
cially a benefit to every firm in the
real estate business
1t has been suggested that possibly
a central exchange might be organized
for the holding of these auction sales,
or again that one firm or one organi-
zation handle all the auction sales.
am not so sure that either of these
plans would be as beneficial as the
present system of working in con-
junction with a leading house that has
its business organized in departments,
with an auction department as part
and parcel of the whole. The firm of
j. w. Wright & Co, to my mind, is q
typical house for the full development