ELKO — The Elko County Treasurer’s Office hosted its annual tax-defaulted property sale this week with online auction site Bid4Assets.com. Bidding was no-reserve, meaning the highest bid at or above the minimum bid won the auction.
More than 6,100 bids were placed and all 220 properties sold, with winning bids ranging from $1,200 to $125,200.
“Bid4Assets is not new to Elko County as the online auction site was used in 2003 and has a strong track record for conducting similar sales throughout the State,” said Cheryl Paul, Elko County Treasurer. “Our sales have always welcomed out of state bidders, but this year’s sale widened the bidder pool even more. We had registered bidders from Alaska, Maine and Florida as well as Nevada and neighboring states. The need for virtual bidding in the current pandemic is evident.
“For now, it’s about continuing our office’s essential duties in a way that keeps people safe and doesn’t create new costs for the County.”
The average price per parcel from the three previous sales was between $2,700 to $3,000, she said. “This year’s tax-defaulted auction averaged well above $5,300 per parcel with Bid4Assets.
“I’m happy to get those 220 delinquent parcels back on the roll to generate tax dollars to the various taxing entities including the State, County, School District, Library and other districts.”