"The Host -- Auction update" Topic

Current bid: $5.2 USD-million

The reserve has not been met.

Approx 3 hrs to go!

link

Maybe if we all pool our money …

Donald Trump at the debates last night said he would be buying the Host. Not sure if he was talking about the hotel or wolf blitzer.

Maybe if we all pool our money …

We'll have $5.20 USD.

$5.7 USD now

79th: I got 2 fuzzy homey-lemon sugarfree coughdrops, a used dryersheet, a pile of very interesting pocket lint, and 78¢ cold, hard USD casheroonie.
We'll take 'em on the next bid.

Hmmm…reserve STILL not met…at TWICE the starting bid.

I've got a carton of Lysol from Costco.

I have some old Minifigs they can have.

I never have understood the point of hidden reserve auctions.

I've always just avoided participating in them as a nuisance on EBay. Fortunately I haven't run into any there in ages on the things I tend to bid on.

@miniMo

As explained to me on the previous Host thread TMP link

Putting a reserve in an auction like this is a way for the seller to preserve some optionality. They can always choose to accept a bid that's lower than the reserve price but don't have too. There's always a chance a third party approaches the seller and offers a price that's a better outcome.

OK, so for this sort of thing, that makes sense.
"Or maybe best offer, we'll think about it."

Perhaps they should have done a Dutch auction ?

I am hoping for some high $$$ sniping at the end a la eBay.

I didn't see any postage rates listed in the auction. Free world wide shipping?

Up to 6.2 and still the reserve isn't met…

It would not surprise me if the reserve was 10 million. I think the sale was around that mark.

I think it sold ten years back for about $12.5 USD mil.
The management company then invested about $5 USD mil. into renovations.
Who knows how much they've invested since in operating costs and repairs.

But the original investment would be worth about $20 USD mil in todays money

Also, the reserve does not prevent the seller from negotiating a higher price with the highest bidder if the reserve is not met. Let's say the highest bidder was willing to go to $8 USD million but no one topped his $6.2 USD million bid. If after the close he learns that the reserve was $7.5 USD he might tell the seller he would pay that.

What is the depreciation rate on these types of property? I bet the current owners took the maximum amount possible for tax purposes.

Upped the bid a bit. Searching for the reserve?

Digging for the last quarters between the pillows on the couch.

Better than sniping on EBay. This is exciting!

TRU

Bid increment is now $100 USDk

The otehr issue with publishing a reserve price is that the seller has capped the upside. If I let you know the reserve is 5MM, is doubtful bidders will go above that

$7.25 USD million! Oh the drama.

Like I needed something to distract me at work…

Now 7.25

I wish they had a "Bid History" link . . .

I think it sold ten years back for about $12.5 USD USD mil.

So that or somewhere in that neighborhood is likely going to be the reserve price.

Less than 3 minutes. 7.35!

$7.3 USD! Oh, the humanity…

Less than a minute left! Down and dirty!

I wonder what the "pride" effect of bidding (and winning!) on a property like this might be dollar wise . . .

"Who knows how much they've invested since in operating costs and repairs"………….

No idea on the operating costs, but I'd venture to guess the number for repairs would be twelve bucks…….

Interesting. When someone bids, the counter gets reset to 4 minutes. 7.45 btw

Oh the suspense! :-)

With each bid I suspect it will be torn down that much sooner.

I wonder if the employees of the Host are watching this as well?

Remember folks, the clocks resets to four minutes everytime there's a bid increase…

Somebody just bid eight to try to hit the reserve, then you can go back to nickel and diming the bids (at 100K apiece).

It is kind of cool to watch

30 seconds…again…aaaannnnnnnnnddddd back to 4 min.

So you can't actually ninja bid. Anytime a bid is put into place, the counter goes back to 4 minutes. E-bay should institute that. 50K big increment now.

I am currently high bidder. Am negotiating with Host to add a 7% post check-out fee to all events and guests for period of Jan. 1, 2015 to current date. Talks are promising. Thanks ahead of time for you extra hard earned cash!

I wonder just how many bidders there are.

Are there rules against the current Host owners bidding to drive up the price like on eBay?

It's like watching a ship slowly sink under the waves…

I hope the hull breaks in two like the Titanic.

A Rusty, mold invested Scow but not a ship.

I hope the hull breaks in two like the Titanic.

Meh. Got nothing against the host. Many great memories there. Sure it's old and needs renovation. My sincere hope is that the buyer gives it a good makeover and turns it back into something grand. I can dream can't I?

Yes. Yes you can. :-)

Now $7.8 USD million. Clock resets again……

Where is the fast forward button?

Death by a thousand bids.

This just in: renovation plans released:

YouTube link

LOL.

That and, we may be here a while. Just reset a minute ago.