Bidders offer their best price in rounds of 20 minutes

Exciting. Maria Jose Santos described the real estate auction held yesterday in Quito, by the Public Sector Real Estate Management Service (Inmobiliar).

Santos was the winner of the first round in which an office with a warehouse and a parking lot in Centro Financiero building, in the north of the capital, was bidden.

The initial price was around $ 70,000, and after 11 minutes of bids, Santos acquired the property for $ 116,000. “That was my maximum bid; I went a bit farther though,” she said contentedly.

138 people interested in 15 properties in the hands of Inmobiliar, in Quito and Guayaquil, were registered in this auction. The previous auction for vehicles raised $ 870,000; it is expected that both sales raise $ 4’000,000 in a first stage. (I)