IDL Provides Remote Participation In AuctionsWednesday July 27, 2022
Boise, ID - Idaho Department of Lands (IDL) is now offering more people the opportunity to participate in auctions for property sales and leases. Bidders at live auctions may now participate virtually with online bidding.
Corbett Bottles will host the live auctions but will incorporate Proxibid's online auction platform. The first time this process will be used is with the upcoming Cottage Site Auction at Priest Lake on August 13, 2022. Photos and information about the properties up for auction can be found at both the Corbett Bottles website and the Proxibid website.
“The former live auction process limited participation to those who could attend in person,” said Jim Elbin, the Division Administrator for Trust Land Management. “Remote bidding may increase competition at endowment auctions, helping us better meet our constitutional mandate to maximize the return for our endowment beneficiaries.”
While in-person bidding requires preapproval and certain fees paid the day of the auction, there are specific steps a remote bidder must take no later than 4 days prior to the auction in order to participate. They include:
• Registering for an account with Proxibid (proxibid.com) and providing the Corbett Bottles auctioneer with the Proxibid user name
• Complete and deliver the Remote Bidder Registration form, Auction Terms and Conditions, and other necessary auction documents to firstname.lastname@example.org
• Deposit bid deposition, fees and other required deposits to be paid by a Successful Bidder with the escrow agent (Attn: Tami DeJournett, First American Title Company)
Ten Cottage sites at Priest Lake will be auctioned:
When: Saturday, August 13, 2022
Time: 10 AM (PT)
Where: Best Western - Coeur d'Alene Inn
Coeur d'Alene, ID 83814
Public Information Officer