New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-05-17
Folks Display
Great Interest
In Home Sites
Demonstration at Bogota
Last Week Indicates Won
derful Building Move
ment Ahead in Suburb

Charles s. Gerth, who heads the
largest exclusive real estate auction
firm in the world, demonstrated con-
clusively to New York last week that
there is 8 big active demand for su-
burban lots that can be improved with
homes or that offer an opportunity for
future profits.
Mr.. Gerth made this demonstration
at the auction sale of $50 residence
sites and thirty business sites in the
town Of Bogota, N. J. which he sold for
George B. Hitchcock, Inc, builder of
the town.
The Gerth organization came to b.
gotta for this sale after series of
auction offerings through the middle
and southwest parts of the country
Wherever Mr.. Gerth held q sale he
found a most active demand for lots,
but it was with some misgivings that
to offer property because he had heard
that the lot market in this section was
not very strong To say that the re-
suits of his Bogota sale pleased him
is undertaking the fact. The vrue
story is that not only Mr. Gerth but
everybody who attended the sale was
frankly amazed at the great interest
shown. Land owners, auctioneers and
brokers from New York went out to the
sale and said that they were greatly
surprised al the splendid crowds pres
ent and at the very excellent prices
which Mr.. Gerth obtained
every day last week was stormy, the
great circus tent in which the sale was
held was damned al every session, ana
Mr.. Gerth could have sold out the en-
tire offering in one day and night had
he so desired. But he wanted to de-
monstrate not only that vacant proper
ty could be sold in this market but also
that it would be sold at good prices,
and he did so by obtaining a auction
practically the list prices on the vari-
Gus lots in this sale.
1t was clearly brought out at the
Bogota sale that people no longer
blndly buy real estate at auction.
Many of the buyers in this instance
led to make purchases of lots because
they knew that Mr.. Hitchcock would
build homes for them. Others had
decided that the extensive develop
ment work which Mr. Hitchcock al
ready has done at Bogota justifies
higher land values, and when the lana
movement starts in the near future his
lots would yield big profits. Many
builders attended the sale in the hope
Of obtaining sites for houses, but in
competition with investors and home
seekers, their bids were so low that
few obtained any of the property, and
if they want to build in Bogota now
they will have to pay profits to those
who bought at the SALE
No small part of the success of the
sale must be attributed to the novel
advertising methods Of the Gerth or
ganization, which besides liberal use
of newspaper space includes a per-
sonal canvass of every resident of the
entire country side for distance OF
ten miles about. The novelty of the
campaign brought to the sale hundreds
OF people who had no intention what
ever of bidding on the lots, but Who
when they felt the enthusiasm of the
audience, became buyers themselves.
From Bogota the Gerth organization
will go to Ohio for large lot sale,
after which they will return to the
New Jersey suburbs for a series of
six more sales of very desirable home
and business sites.