Silent auctions are not typically used in the context of commercial real estate sales. In a silent auction, bidders submit their bids secretly, and the highest bid wins. This format is more common in fundraising events and art sales rather than in real estate transactions, where transparency and competitive bidding are essential.
Conversely, live auctions allow bidders to bid openly in real-time, facilitating immediate interaction and competition amongst bidders. Sealed bid auctions involve bidders submitting their best offers without knowledge of competing bids, and these are often utilized in commercial real estate to create a competitive environment while maintaining confidentiality. Absolute auctions are a type of live auction where the property is sold to the highest bidder regardless of the price, further ensuring a competitive marketplace. Each of these methods is integral to various strategies in commercial real estate transactions, whereas silent auctions do not fit this specific context.