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In this article, we will dive deep into the auction business model, unlocking its secrets and providing you with valuable insights into successful bidding strategies. The actual purchase process is: Attend auction, bid the highest, then wire the money to the sheriff. No closing, no escrow and no contracts. You just pay, the deed gets recorded and youre on. Auction negotiation is a dynamic process that combines elements of competition, strategy, and psychology. Whether you're bidding on a rare piece of art, participating in a real.