Ben Miller over at the PSBJ has a great post on his experience at the Lumen Auction.  I agree with him on the vibe of these auctions but differ on the attractiveness of the Lumen final prices.  I suspect a few years from now, most of us will wish we got in at some of these prices.  


As an example, someone got a brand new 1,272 square foot condo for $355k (they paid half of the original $712k asking price).  Here's a couple of charts summarizing the results.

Lumen auction results 1

Lumen condo